December 13, 2021

November 26, 2021

Mitsubishi Materials Corporation

Notice Concerning Revision of Greenhouse Gas Emissions Reduction Target
- Aiming to Achieve Carbon Neutrality Five Years Earlier than the Original Goal -

Mitsubishi Materials Corporation revised the greenhouse gas (GHG) emissions reduction target for the group, including direct emissions by the business operator (Scope 1) and indirect emissions resulting from the use of supplied energy (Scope 2), in pursuit of reducing GHG emissions by 47% by FY2031 (compared to FY2014) and to virtually zero, or carbon neutrality, by FY2046.

In March this year, we set a mid to long-term target for our group to reduce GHG emissions by 17% by FY2031 (compared to FY2014) and to become carbon neutral by FY2051. A month later, the Japanese government announced a GHG emissions reduction target of 46% by FY2031 compared to FY2014, and actions on climate change are becoming increasingly important. Under the circumstances, we revised the reduction targets for our group and decided to take on new initiatives as follows to reinforce our actions on climate change.

- We aim to achieve carbon neutrality by FY2046 (five years earlier than FY2051, which we announced in March this year).

- The intermediate target announced in March this year, which is the GHG emissions reduction target (Scopes 1 and 2) by FY2031, was also increased to 47% compared to FY2014. Specifically for Metalworking Solutions business, ahead of other businesses, we set a target to switch all power used in manufacturing to practically CO2 emission-free electricity by FY2031, and to promote manufacturing activities to contribute to our customers as their "Global Craftsman Studio".

- As for Scope 3 that includes business partners' GHG emissions, which is the emissions of the entire supply chain excluding Scopes 1 and 2, we started to collect actual data from FY2021. While working to improve calculation accuracy by sharing information with our business partners, we will project long-term reduction in consideration of their GHG reduction plans, etc.

- We will begin to evaluate and utilize the carbon footprint of products (CFP)* and work to estimate GHG emissions of the products using recycled materials such as tungsten and copper scrap.

Please note that our new targets do not include the Cement business for which business integration with Ube Industries, Ltd. is scheduled next April. Specific effective GHG reduction measures for the same business will be established by the new company after the business integration.

Setting of new greenhouse gas emission reduction targets (Click the picture to see the enlarged image)

The vision of Mitsubishi Materials Group is to "become the leading business group committed to creating a sustainable world through materials innovation, with use of our unique and distinctive technologies" based on its corporate philosophy of "For People, Society and the Earth." We will continue to contribute to the building of a decarbonized society by ensuring to consider the reduction of environmental impact in manufacturing and by promoting aggressive reduction of GHG emissions to achieve our new target.

*Carbon footprint of products (CFP) are the evaluation items related to GHG emissions extracted from LCA (Life Cycle Assessment), a method to quantitatively evaluate input resources, environmental load, and their environmental impact within a product life cycle.

New Greenhouse Gas Emissions Reduction Targets and Initiatives

【Related Link】
April 6, 2021
Notice Concerning Establishment of Greenhouse Gas Emissions Reduction Target and Scenario Analysis of Climate-Related Risks and Opportunities

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Public Relations Dept., Corporate Communication Dept.