On Monday, Japan’s manufacturer Mitsubishi Corp. announced its decarbonization budget by 2030 of JPY2 trillion (USD17.54 billion).
The company targets to halve its greenhouse gas (GHG) emissions by 2030 on 2020 levels, and to achieve net-zero emissions by 2050.
Among the budget, around half of it will be allocated to expand Mitsubishi’s renewable energy assets which focuses on wind power. The remainder will be spent on hydrogen and ammonia, liquefied natural gas (LNG), and metals.
The company stated that it would keep investing in LNG as it believes it will play an important role as transitional energy. The company still plans to slash the carbon dioxide (CO2) emission rate by utilizing carbon capture and storage (CCS) and other technology.
The company is analyzing further investments in battery metals such as lithium and other materials linked to the green economy including bauxite.
Additionally, Mitsubishi is considering increasing its stake in base metals used in electrification such as copper.
However, for the time being, the company plans to maintain its coking coal assets.
