JFE Holdings, Inc.
JFE Announces New Targets for Reducing CO2 Emissions
JFE Holdings Inc. announced today that it has set new targets for reducing CO2 emissions for its entire group by the year 2030. JFE, which is combating climate change as a critical environmental, social and corporate governance (ESG) challenge, is implementing ESG initiatives that are also expected to strengthen the company’s sustainable growth and corporate value.
In steel business, which accounts for most of the JFE Group’s CO2 emissions, the target in fiscal 2030 is a reduction of 20% or more compared to the fiscal 2013 level. JFE has played an active role in the Japan Iron and Steel Federation’s commitment to a low-carbon society and will continue to do so. Furthermore, to maximize the results of its overall efforts, JFE Steel has launched a project team headed by its president to set policies for resolving CO2-related issues and to develop CO2-reduction strategies by making full use of the best available technologies and innovations.
In engineering business, JFE will expand its existing renewable-energy initiatives for sustainable power generation using waste materials and biomass, and also for solar and geothermal energy. To date, initiatives implemented at renewable energy plants constructed by JFE have reduced CO2 emissions by about four million tons per year. Additionally, JFE will centralize management of its centers for external collaboration with customers. Internally, the company will carefully analyze energy consumption in its engineering activities to further optimize energy use. Going forward, JFE’s engineering business is expected to contribute to CO2 reduction in society in diverse ways.
In trading business, JFE supplies eco-friendly products in line with customer needs, such as electrical steel sheets for electric vehicle motors and other applications. In the renewable energy field, JFE proposes optimal steel products and is actively supplying palm kernel shells and wood pellets as biomass fuel for power generation. Through these and other trading activities, JFE is dedicated to helping to realize a low-carbon world.
Modern societies are working to establish carbon-free infrastructure over the long term. In response to this trend, JFE is carrying out research and development to introduce a lineup of carbon-neutrality technologies in its business processes well ahead of 2050 and then achieve carbon neutrality within the JFE Group as soon as possible after 2050.
Going forward, JFE will remain committed to advancing its environmental initiatives, including CO2 emissions reduction, and achieving a sustainable world based on its corporate philosophy The JFE Group contributes to society through world-class technology.
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