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Sumitomo Chemical, Maruzen Petrochemical and Mitsui Chemicals to Study the Feasibility of Collaborating at Japanís Keiyo Coastal Industrial Complex with Aim of Achieving Carbon Neutrality


WEBWIRE

Sumitomo Chemical Co., Ltd., Maruzen Petrochemical Co., Ltd., and Mitsui Chemicals, Inc. have signed a memorandum of understanding to jointly study the feasibility of implementing collaborative projects at the Keiyo Coastal Industrial Complex, located in Chiba, Japan, with the aim of achieving carbon neutrality. Under this agreement, the three companies will explore the possibility of working together to carry out measures for reducing greenhouse gas (GHG) emissions, such as the conversion of fuels and feedstock.

The chemical industry provides various materials essential to peopleís lives, ranging from daily necessities to materials for semiconductors. Meanwhile, the industry, which consumes a large amount of fossil resources and energy in its value chain, accounts for about 15% of the carbon dioxide emitted by the industrial sector in Japan in fiscal 2020*. Accordingly, the industry is aware that it has a critical role to play to achieve the Japanese governmentís goal of becoming carbon neutral by 2050. Specifically, for reducing GHG emissions from production, chemical companies need to change fuels to carbon-free sources, while also replacing crude oil-derived naphtha as their major feedstock by developing and implementing carbon recycling technology, among other measures. To implement these transformations promptly and effectively at the Keiyo Coastal Industrial Complex, one of Japanís largest industrial complexes, where there is a concentration of materials and energy industries, there is an increasing need not only for each individual companyís action but also for collective efforts among the companies concerned.

*Source: ďNational GHG Inventory Report of JAPAN (April 2022),Ē National Institute for Environmental Studies, Japan

Under these circumstances, Sumitomo Chemical, Maruzen Petrochemical, and Mitsui Chemicals, all of which have operations in the Keiyo Coastal Industrial Complex, have agreed to jointly study the feasibility of collaborating towards achieving carbon neutrality. The three companies will, with the aim of diversifying feedstock, consider utilizing biomass resources instead of petroleum resources and developing and implementing new chemical recycling and material recycling technologies, as well as explore how to source biomass and collect waste for recycling. In addition, they will consider the conversion of fuels used in their manufacturing facilities, such as naphtha crackers, and the renewal of infrastructure associated with it.

These efforts will not be limited to the three companies. Sumitomo Chemical, Maruzen Petrochemical, and Mitsui Chemicals will work to engage related local governments and companies through such initiatives as the Keiyo Coastal Industrial Complex Council on Carbon Neutrality led by the government of Chiba Prefecture, Japan.

Comment by UEDA Hiroshi, Director and Executive Vice President, Sumitomo Chemical

In December 2021, we at Sumitomo Chemical formulated our grand design towards achieving carbon neutrality by 2050. Under this policy, we are advancing initiatives from two perspectives: our ďobligationĒ to bring the Sumitomo Chemical Groupís GHG emissions close to zero, and our ďcontributionĒ to reducing global GHG emissions through our products and technologies. Through this collaboration with Maruzen Petrochemical and Mitsui Chemicals, we will accelerate the development and implementation in society of technologies that contribute to the reduction of GHG emissions and to carbon recycling, and endeavor to solve the issues the chemical industry faces to become carbon neutral. The Sumitomo Chemical Group will continue to strengthen cooperation with various stakeholders and to strive to create a carbon neutral society.

Comment by FUNAHASHI Katsuyuki, Director Executive Officer, Maruzen Petrochemical

Based on the Cosmo Energy Group policy, we aim to achieve net zero carbon emissions by 2050 through such CO2 emissions reduction efforts as converting to decarbonized energy and utilizing chemical recycling and negative emission technologies, while at the same time fulfilling our responsibilities for the stable supply of energy and petrochemical products.

Comment by YOSHINO Tadashi, Representative Director, Member of the Board, Senior Managing Executive Officer, Mitsui Chemicals

In November 2020, we declared our commitment to become carbon neutral by 2050. We are working to reduce our groupís GHG emissions (Scope 1 and 2) and also maximize our contribution to GHG emissions reduction throughout the life cycle of our products, including Blue ValueTM products**†and biomass naphtha derivatives, in order to contribute to achieving carbon neutrality and realizing a circular economy. Bearing the responsibility of achieving these goals, working with our business partners and consumers, we will steadily reshape the world, one step at a time, starting with the materials of materials.

**Blue ValueTM: Mitsui Chemicalsí original tool for visualizing the value of environmental contributions of the products and services provided by the Mitsui Chemicals Group and sharing the information with stakeholders.


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