Mitsubishi Materials Corporation

News

February 10, 2023

Mitsubishi Materials Corporation

Notice Concerning Revision of Greenhouse Gas Emissions Reduction Target and
Scenario Analysis of Climate-Related Risks and Opportunities
- Investing Approximately 40 Billion Yen to Raise Greenhouse Gas Reduction Target -

Mitsubishi Materials Corporation has 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) .

With the announcement of the transfer of our Polycrystalline silicon business in October 2022, we have revised the base year for the GHG reduction target to FY2021, which was previously set as FY2014 with the aim of a 47% reduction, and have established a new target of 47% reduction by FY2031 (52% reduction compared to FY2014). To achieve this target, we will invest 10.5 billion yen by FY2031, mainly in energy saving and facility improvement at manufacturing sites. In addition, we will reduce GHG emissions from the activities of supply chains (Scope 3) by 13% or more by FY2031 (compared to FY2021).

Furthermore, in order to achieve carbon neutrality in FY2046, we will further develop and expand the use of renewable energy, including geothermal power generation, which is one of our strengths, and have set a target of 100% usage rate of renewable energy by FY2036, 66% of which would be derived from our own renewable energy sources. Accordingly, we will invest 30 billion yen in the renewable energy business by FY2031.

GHG reduction targets GHG reduction targets
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Renewable energy scheme Renewable energy scheme
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In addition, we reviewed the scenario analysis based on recommendations from the Task Force on Climate-related Financial Disclosures (TCFD), analyzed the potential risks and opportunities inherent in our company's climate change response, and have established indicators and targets for our business.

Based on our corporate philosophy of "For People, Society and the Earth," our group is committed to achieving a decarbonized society by ensuring to consider the reduction of environmental impact in manufacturing and by actively promoting the reduction of GHG emissions in order to achieve the revised targets.

[Analysis of Climate Change Response Scenarios Based on TCFD Recommendations]
As presented in the "World Energy Outlook 2021" released by the International Energy Agency (IEA), we mainly use the "Net Zero Scenario (NZE)," in which CO2 emissions are zero by 2050, and the "Stated Policies Scenario (STEPS)", which reflects currently established policy, to analyze the business, financial, and strategic impacts of a world moving toward carbon neutrality in 2050 (1.5 degree scenario) and a world in which the current trends remain unchanged (4 degree scenario).

Overview of Mitsubishi Materials Corporation's Scenario Analysis Based on TCFD Recommendations Overview of Mitsubishi Materials Corporation's Scenario Analysis Based on TCFD Recommendations
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[Attachment]
Climate Change Initiatives: GHG Reduction Targets and Scenario Analysis on Climate Change Risks and Opportunities

[Related Release]
December 13, 2021
Notice Concerning Revision of Greenhouse Gas Emissions Reduction Target - Aiming to Achieve Carbon Neutrality Five Years Earlier than the Original Goal -
URL:https://www.mmc.co.jp/corporate/en/news/2021/news20211213.html

April 6, 2021
Notice Concerning Establishment of Greenhouse Gas Emissions Reduction Target and Scenario Analysis of Climate-Related Risks and Opportunities
URL:https://www.mmc.co.jp/corporate/en/news/2021/news20210406.html

<Contact details for inquiries>

Corporate Communications Dep., Management Strategy Div.,
Strategic Headquarters : +81-3-5252-5206

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