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Messages from Keidanren Executives March, 2020 Innovation for the Realization of a Virtuous Cycle of Environment and Growth

Tsutomu SUGIMORI Vice Chair, Keidanren
President, JXTG Holdings

In light of the increasing frequency and severity of extreme weather events worldwide, along with other factors such as the United Nations Climate Change Summit in September of last year, the sense of urgency about climate change is at an all-time high among the international community.

When I attended COP25 in Madrid in December of last year as well, I sensed an increased vigor in discussions at the international level about raising 2030 greenhouse gas reduction targets.

In Japan, the implementation of Keidanren's Commitment to a Low Carbon Society and other specific measures resulted in a reduction in greenhouse gas emissions year-on-year in the five years from 2014 to 2018, with a reduction of more than 11% versus 2013, the base year. This is a high degree of reduction compared to other advanced countries, and second only to the United Kingdom among G7 nations.

It is important to promote Japan's outstanding performance to the international community. At COP25, Keidanren, along with Environment Minister Shinjiro Koizumi, called attention to the results of Japan's reduction efforts and expressed our intent to take specific actions to make further contributions to the reduction of CO2 emissions.

As stated in Japan's Long-term Strategy (Cabinet decision June 2019), a net zero carbon society cannot be realized using only existing technologies, and therefore disruptive innovation is critical as we move forward.

Keidanren has also launched an initiative called "Challenge Zero." With this initiative, we call on companies to take on the challenge of innovation to realize a net zero carbon society, based on the idea that it is important to take specific actions toward this goal rather than simply raising reduction targets across the board without regard for the unique circumstances of each country.

In order to ensure the sustainability of our precious planet for future generations, we must significantly reduce CO2 emissions over the long term, not only in Japan, but also on a global scale. To this end, in addition to Challenge Zero, I encourage collaboration and cooperation among companies, governments and research institutes for further innovation toward the realization of a virtuous cycle of environment and growth.

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