We recognize that an environmental contribution consisting only of a reduction in our CO₂ emissions is not enough to secure corporate sustainability. Along with these reduction efforts, we need to contribute to society by providing low-carbon energy with a view to transitioning to a low-carbon society in the future. Moreover, we also aim to contribute economically by generating profits and enhancing our resilience as a company even as we shift our business portfolio. We consider all of these endeavors to be matters of equal importance.
Based on this idea, the Group has created a system for evaluating and managing CO₂ reduction initiatives using the following three indicators.
Reduction of CO₂ emissions in our own operations (Scope 1+2)
Reduction of CO₂ emissions per unit of energy supplied, including Scope 3
Revenue level per unit of CO₂ emitted, including Scope 3
Idemitsu aims to achieve carbon neutrality (net zero CO₂ emissions) for emissions from its own operations (Scope 1+2) by 2050. We have set the target -46% vs. 2013 of CO₂ reduction target by 2030 as a waypoint to encompass. Dealing mainly with fossil fuels, Idemitsu recognizes CO₂ reduction as a priority with ensuring a stable supply of energy and will continue striving to achieve its targets.
Calculation formula = CO₂ emissions in target year (Scope1+2) - CO₂ emissions in base year (Scope1+2)
In FY2021, energy conservation activities at refineries and complexes helped reduce CO₂ emissions. On the other hand, partly due to an increase in crude oil throughput following the economic recovery from the COVID-19 pandemic, resulted in CO₂ emissions increased slightly.
| Fiscal year | 2013 | 2019 | 2020 | 2021 |
|---|---|---|---|---|
| CO₂ emissions* (thousand tCO₂) | 15,870 | 14,163 | 13,968 | 14,182 |
(Indicator of the extent to which an energy company can reduce the “CO₂ emissions per unit of energy” supplied to society)
(Indicator of how the “Revenue level per unit of CO₂” emitted by the Company as a whole is being raised)
We use above two indicators for internal monitoring indicator.
We are committed to reducing CO₂ emissions globally along the entirety of our value chains. We will promote the reduction of CO₂ emissions through our business activities in the following five areas.