On Friday, CEO Tatsuo Yasunaga of Japanese trading house Mitsui & Co. Ltd. said that the company would sell all its remaining shares in coal-fired power plants by 2030 to help achieve its 2050 net-zero emission target.
Mitsui still holds stakes in coal-fired plants in Indonesia, China, Malaysia, and Morocco. The company will also step away from oil.
Through equity holdings, Mitsui's energy assets comprise 78,000 bpd of crude oil and 181,000 bpd in gas measured in oil-equivalent terms. However, by 2030, the crude ratio would fall due to the upcoming liquefied natural gas (LNG) projects in Mozambique and arctic Russia in around four years.
Mitsui is now also eager for cleaner energy such as offshore wind farms and hydrogen projects.
