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The IHI Group sees taking measures against climate change as one important management issue and is doing everything possible to accomplish this.
Climate change has an enormous social and economic impact and is a vital social issue for companies to address in order to realize sustainability and one that the IHI Group believes it should focus on.
The IHI Group aims to be carbon-neutral in its processes overall by reducing the direct and indirect (Scope 1 and 2) greenhouse gas (GHG) emissions from its business activities as well as Scope 3 emissions from the upstream and downstream processes in its value chain.
Our 2050 goal to achieve carbon neutrality throughout the entire value chain
The IHI Group will cut the amount of its business activity GHG emissions in half by fiscal 2030 (Scope 1 and 2) compared to fiscal 2019.
In May 2019, the IHI Group became a signatory to the Task Force on Climate-related Financial Disclosures (TCFD) by resolution of the Board of Directors. This framework plays a role as a tool to formulate strategies able to strengthen risk management and cultivate business opportunities.
In February 2022, the IHI Group endorsed the GX League Basic Concept announced by the Ministry of Economy, Trade and Industry, joining it in April 2023.
The GX League is a group of companies that are actively working on Green Transformation (GX), established as a forum for discussion on reforming socioeconomic systems and practices in their entirety for the creation of new markets, together with government, academics, and financial players who are also taking part in the GX challenge.
The IHI Group engages in environmental initiatives that include measures to combat climate change centered on the Environment Committee chaired by the Officer in charge of Group ESG (Director and Managing Executive Officer).
In fiscal 2021 the Group put together a task force comprising cross-divisional members for advocating carbon-neutral initiatives throughout the entire value chain.
From fiscal 2022 this task force is being led by the General Manager of the Corporate Planning Division, with the Administration and Corporate Planning Divisions acting as the secretariat.
In fiscal 2023 the Company established a group in charge of carbon neutrality in its Corporate Planning Division to strengthen this setup. The group reports on its activities to the ESG Management Promotion Committee and other management team meetings to receive guidance and accelerate initiatives.
The IHI Group aims to achieve carbon neutrality throughout its entire value chain by 2050.
In fiscal 2023 the Board of Directors set the goal of halving the GHG emissions (Scope 1 and 2) from our plants, offices, and other business establishments during fiscal 2019 by fiscal 2030.
To date, we have been focusing on Scope 1 and 2 based on the Japanese government’s 46% reduction by 2030 policy (in comparison to fiscal 2013). However, in the IPCC AR6 Synthesis Report during March 2023, it was reported that further reductions in GHG emissions are necessary in order to keep the earth’s temperature rise under 1.5°C. In accordance with this, we newly developed our goals for fiscal 2030. Since the IHI Group’s new mid-term goal is based on fiscal 2019, it is one that surpasses Japanese government policy and recommendations made by the IPCC.
Possessing decarbonization technology, the IHI Group will take the lead in contributing toward the realization of a global carbon-neutral society through its efforts in achieving this goal.
(Scope: IHI and consolidated subsidiaries)
| Action Plans | Targets | KPI | FY2018 Results (Base Year) |
FY2021 Results
Reduction |
FY2022 Results
Reduction |
||
|---|---|---|---|---|---|---|---|
| Reduce the environmental impact in plants, offices, etc. | Reduce CO2 emissions intensity*1 by at least 4% by FY2022 compared to FY2018 | CO2 emissions intensity (t-CO2/100 million JPY) |
22.2 | 18.8 | 15.3% | 15.9 | 28.2% |
| Reduce energy consumption intensity*1 by at least 4% by FY2022 compared to FY2018 | Energy consumption intensity (TJ/10 billion JPY) |
39.3 | 20.0 | 49.1% | 17.0 | 56.9% | |
| Action Plans | Targets | KPI |
|---|---|---|
| Climate change | A 6,000t-CO2 reduction in Scope 1 and 2 with capital investment | Reduced amount of GHG emissions (t-CO2) |
| Reduce energy consumption intensity by 3% in FY2025 from that in FY2022 | Energy consumption intensity (TJ/10 billion JPY) |
(Scope: IHI and consolidated subsidiaries)
| Item | FY2019 | FY2020 | FY2021 | Presence/Absence of Third-party Verification | FY2022 | Presence/Absence of Third-party Verification | |
|---|---|---|---|---|---|---|---|
| GHG | GHG emissions (Scope 1 + Scope 2)*3 (t-CO2e) | 254,227 | 225,066 | 220,138 | ○ | 215,753 | ○ |
Scope1(t-CO2e) |
64,724 | 58,517 | 64,270 | ○ | 61,469 | ○ | |
CO2( t-CO2) |
― | ― | ― | ― | 60,178 | ○ | |
CH4( t-CO2e) |
― | ― | ― | ― | 447 | ○(Domestic only) | |
N2O(t-CO2e) |
― | ― | ― | ― | 85 | ○(Domestic only) | |
HFCS(t-CO2e) |
― | ― | ― | ― | 469 | ○(Domestic only) | |
PFCS(t-CO2e) |
― | ― | ― | ― | 0 | ○(Domestic only) | |
SF6(t-CO2e) |
― | ― | ― | ― | 290 | ○(Domestic only) | |
NF3(t-CO2e) |
― | ― | ― | ― | 0 | ○(Domestic only) | |
Scope 2 (market-based) (t-CO2) |
189,503 | 166,549 | 155,868 | ○ | 154,284 | ○ | |
| GHG emissions intensity*1 (t-CO2e/100 million yen) | 18.3 | 20.2 | 18.8 | ― | 15.9 | ― | |
| Energy | Energy consumption*2, 3 (TJ) | 2,468 | 2,283 | 2,348 | ○ | 2,294 | ○ |
Fuel consumption (TJ) |
1,044 | 974 | 1,084 | ○ | 1,019 | ○ | |
Electricity consumption (TJ) |
1,398 | 1,276 | 1,229 | ○ | 1,230 | ○ | |
Heat consumption (TJ) |
― | 7 | 5 | ○ | 0 | ○ | |
Steam consumption (TJ) |
0 | 0 | 0 | ― | 0 | ― | |
Renewable energy used (TJ) |
26 | 26 | 31 | ○ | 45 | ○ | |
| Energy consumption intensity*1 (TJ/10 billion yen) | 17.8 | 20.5 | 20.0 | ― | 17.0 | ― | |
In order to reach our 2050 goal to achieve carbon neutrality throughout the entire value chain, we have begun incorporating the following transition plan.
| Items Under Our Transition Plan | Overview | |
|---|---|---|
| Governance |
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| Scenario analysis | Reflecting scenario analyses for our four major business domains in their strategies | |
| Finance plan | Formulating and executing a financial plan for IHI Carbon-Neutral 2050 | |
| Value chain engagement and low carbon initiatives | Supply chain engagement | Conducting supplier engagement, self-assessment questionnaires, and emission surveys |
| Customer engagement | Presenting development stories | |
| Expanding our portfolio of low-carbon products and services | Increasing our development, marketing, and sales of decarbonized products | |
| Efforts to reduce emissions in direct operations | Incorporation into production and equipment planning by an expert task force | |
| Risks and opportunities | Engineering methods to minimize risks and maximize opportunities in response to climate change | |
| Targets |
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| Scope 1, 2, and 3 |
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Reduction of CO2 Emissions During Procurement and Production
We are working to reduce CO2 emissions in procurement and production activities to achieve carbon neutrality throughout the value chain.
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Using Ammonia as Fuel
We are working on the development of power generation technologies using ammonia as fuel and the construction of a value chain that envisions a society where ammonia utilization is expanded.
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Lighten Products, Electrify, and Convert Fuel for Transport Systems
In the aviation and automotive sectors, we are developing and implementing various technologies such as electrification to achieve carbon neutrality.
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Using Recycled Carbon as an Energy Source
To prevent an increase in atmospheric CO2, we are conducting research on the technological development and social implementation of the separation, recovery, and effective utilization of emitted CO2.
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