Idemitsu aims to achieve carbon neutrality (net zero CO₂ emissions) for emissions from its own operations (Scope 1+2) by 2050.
Aiming to realize a carbon-neutral society, we supply the energy and materials needed by customers and society from the two perspectives of strengthening and expanding existing business fields and swiftly establishing new business fields. At the same time, we are taking action to realize a carbon-neutral transformation concept through the addition of the following six functions to our refineries and complexes and by positioning them as new bases operating as low-carbon and resource-recycling energy hubs.
In July 2021, we established the Innovation Strategy & Carbon Neutral Transformation Department to lead our carbon-neutral efforts. The department monitors initiatives and progress toward achieving carbon neutrality in collaboration with the Corporate Planning Department, Safety, Environment & Quality Assurance Department, and Corporate Sustainability Department; holds discussions with management; and reports to the Board of Directors.
To realize carbon neutrality, Idemitsu has created the following transition plans for recycling, the use of non-petroleum resources, and the transformation of the petroleum business. Regarding these initiatives, we collaborate with communities and other companies to roll out activities while receiving support from experts and national interests at home and overseas.
Establishing carbon neutral transformation centers at all complexes is key to achieving our goals. Specifically, we will transform refineries we have operated for many years as energy production bases into bases for realizing carbon neutrality.
The employees of the Group’s refineries and complexes have the requisite know-how to ensure safe operations and, as professionals handling hazardous substances, have worked for many years with local communities.
In addition, our facilities—including refineries, complexes occupying expansive sites, piers that can accommodate large ships, and utilities (such as groups of storage tanks)—have the potential to become carbon neutral transformation centers, such as biofuel terminals, hydrogen and ammonia production and storage terminals, and waste plastic recycling sites.
Furthermore, we expect to use these facilities as lithium battery material production bases and solar panel recycling bases.
By realizing energy and material transition toward 2050, we envision carbon-neutral lifestyles centered on our complexes and are taking action to this end.