In May this year, ENEOS Holdings developed an updated plan for achievement of carbon neutrality based on its commitment to carbon neutrality in its own CO₂ emissions announced in May 2020.

Under the new plan, the Group aims to reduce CO₂ emissions by 46% compared to the FY2013 level by FY2030 and to achieve net zero emissions (Scope 1 and Scope 2) by FY2040, while ensuring a stable energy supply.

To achieve this goal, the Group will engage in a CCS* business and CO₂ removal (such as forest absorption). As part of this initiative, the Group will work with J-POWER on a feasibility study of large-scale domestic CO₂ CCS systems to reduce CO₂ emissions from the use of fossil fuels.

With support from the Japanese government, the ENEOS Group and J-Power are aiming for commercialization of the initiative by FY2030, utilizing ENEOS Group’s expertise in strata evaluation and underground storage technology attained through its Exploration and Development business and its CCUS business in the US, along with J-Power’s gasification and CO₂ recovery technologies.

The ENEOS Group will issue transition-linked bonds to secure the necessary long-term funding to pursue its energy transition.

*CO₂ capture and storage technology to separate and collect CO₂ emitted by various sources, and store and inject it deep underground