IHI Co., Ltd. (Note 1) (hereinafter referred to as "IHI"), Fujitsu Limited (Note 2) (hereinafter referred to as "Fujitsu"), and Mizuho Bank, Ltd. (Note 3) (hereinafter referred to as "Mizuho Bank") have signed an MOU (memorandum of understanding) on September 16, 2024 to start the "J-Credit Creation Total Support Service" (hereinafter referred to as the "Joint Project") in order to support the efficiency of J-Credit creators and early funding.

Currently, in order for companies and organizations to create J-Credit, various procedures are required from project registration to J-Credit issuance, resulting in a significant amount of time and workload. There is also a risk that sales destinations may not be found after creation, and the funding may not be realized for a long period of time.

The joint project involving the three companies aims to expand the amount of J-Credit creation, which is expected to rapidly increase in demand in the future. By combining IHI and Fujitsu's development of the digitalization of the environmental value creation process (data collection, reporting, verification of CO2 emissions, etc.) with Mizuho Bank's customer network, the "J-Credit Creation Total Support Service" will be developed to solve the challenges faced by J-Credit creators regarding the burden of creation procedures and the lead time to funding. Furthermore, it aims to start offering J-Credit creation from emissions reduction activities such as introducing photovoltaic power generation facilities to replace grid power in the first quarter of fiscal year 2025.

In the "J-Credit Creation Total Support Service", IHI's J-Credit creation knowledge and engineering expertise will enable efficient processing and reduction of the burden of application procedures through Fujitsu's blockchain and automation technology, allowing for highly reliable data management and accumulation. Additionally, Mizuho Bank will provide a one-stop priority purchase scheme for J-Credit based on its customer network and presence in the distribution market.

Image of the "J-Credit Creation Total Support Service"

IHI is working on collecting operating data of customer facilities and calculating CO2 reduction, as well as supporting the creation of environmental value such as J-Credit using its engineering capabilities and IoT. By utilizing the "Environmental Value Management Platform", it will further promote the digitalization of the creation process to efficiently create reliable environmental value, aiming to contribute further to the realization of a decarbonized society.

Fujitsu, under the business model "Fujitsu Uvance" based on social issues, will support the realization of ESG management for businesses, from visualization and measurement to optimization of CO2 reduction by utilizing the "ESG Management Platform", thereby providing simulation and recommendation functions necessary for advanced decision-making and accelerating the sustainability transformation (SX) of its customers, by analyzing the CO2 reduction data collected during J-Credit creation using AI.

Mizuho Bank aims to achieve decarbonization of society and customers by acting as a financial institution to facilitate the carbon credit market in its early stages. The bank has been awarded the title of 'Best Market Maker' by the Tokyo Stock Exchange's carbon credit market, and is actively working towards the development of the J-Credit circulation market. This will promote the circulation of decarbonization funds in the country and strive for the coexistence of the environment and the economy.

Through this joint venture, the three companies aim to expand the creation of J-Credits and support the acceleration of decarbonization management by connecting customer's environmental value creation activities to business opportunities. They strive to contribute to the realization of a sustainable society.

Trademarks

Proper nouns such as product names mentioned are trademarks or registered trademarks of their respective companies.

Notes

• Note 1
  IHI Co., Ltd.:
  Head Office: Koto-ku, Tokyo, Representative Director and President: Hiroshi Ide
• Note 2
  Fujitsu Limited:
  Headquarters: Nakahara-ku, Kawasaki-shi, Kanagawa; President: Takahito Tokita
• which utilizes generated AI, members who newly develop a manufacturing process for laundry detergent for clothing can easily search and utilize skilled workers' technology, knowledge, and know-how and, thus, support the efficient execution of the business task.
  Mizuho Bank Co., Ltd:
  Head Office, Chiyoda-ku, Tokyo, President: Kato Katsuhiko
• Note 4
  J-Credit:
  Credits that the country has certified as the reduction and absorption amount of greenhouse gas emissions.
• Note 5
  MRV support system:
  A system that contributes to the efficiency of monitoring, reporting, verification, and other tasks related to J-Credit utilizing blockchain technology. IHI and Fujitsu participated in a demonstration project for digitalization of credit certification using the simple creation base (now: MRV support system) conducted at the Ministry of the Environment in 2023, showing that companies can easily convert the environmental value created through CO2 reduction activities into J-Credits. Both companies have also been selected as "MRV support system operators for the J-Credit system" by the Ministry of the Environment for the fiscal year 2024.
• Note 6
  Environmental Value Management Platform:
  A digital foundation to accumulate and promote data as environmental value within and outside the IHI group for business purposes.

Related links

• Announcement of selection of J-Credit MRV support system operator by the Ministry of the Environment HP (published on August 6, 2024).
• Started a joint project of "Simplified Creation Infrastructure" to promote the revitalization of the environmental value trading market (press release on July 6, 2023).
• Cooperation announcement between Mizuho Bank and Fujitsu on environmental management information services (press release on January 26, 2023).
• Started a joint project to realize a new environmental value circulation platform utilizing blockchain technology (press release on April 12, 2022).
• Fujitsu Uvance

Inquiries regarding this matter: Fujitsu Contact Line (Comprehensive Window)

IHI Corporation

Fujitsu Limited

Mizuho Bank, Ltd.

The price, specifications, service contents, etc. of the product described in the press release are as of the announcement date, and may be changed without notice. Thank you for your understanding.