Japanese general trading company Marubeni announced a new series of policies regarding both its coal-fired power generation business and its renewable energy generation business.
In terms of expanding its renewable energy generation business, Marubeni plans to boost the power generated by renewable sources from its own net power supply from 10% to 20% by 2023. In addition, the company plans to reduce its greenhouse gas emissions volume from its power generation portfolio.
As part of this plan, Marubeni will cut its FY2018 coal-fired power net generation capacity of approximately 3GW in half by 2030. And, as a general principle, Marubeni will no longer enter into any new coal-fired power generation business.
However, Marubeni might consider pursuing projects that adopt “Best Available Technology” and are compliant with the policies and measures of the Japanese government and any country in which the project will be executed. Even with these exceptions, Marubeni will make proposals on the creation of a low-carbon society, efficient power generation systems and the diversification of energy sources.
The statement added: “In April 2018, Marubeni launched the Sustainability Management Committee under the supervision of the President and CEO, with the aim to strengthen the company’s sustainability initiatives. Since its launch, and while soliciting the opinions of external parties, the committee has discussed a number of basic policies and measures pertaining to Marubeni’s sustainability initiatives, beginning with identification and periodic review of the materiality. Policies and measures considered as a result of these discussions will be announced as part of Marubeni’s ESG related data once it has been compiled.”