Fifteen Japanese companies from several sectors joined forces in order to establish the Carbon Neutral LNG (“CNL”) Buyers Alliance.
Specifically, the companies participating in the Alliance will work to increase the recognition of CNL in society and carry out initiatives in an effort to improve its evaluation by investment institutions and establish its position within the various systems in Japan with the aim of contributing toward Japan’s achievement of a carbon neutral society by 2050.
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To remind, CNL is a type of LNG that offsets greenhouse gases, which are generated in the process, from extraction to the burning of natural gas, and that carries a carbon credit (carbon offsetting). Thus, it is deemed to be carbon neutral on a global scale even when burned.
Namely, the following 15 companies have come together to establish the Carbon Neutral LNG Buyers Alliance:
- Toshiba Corporation
- Tokyo Gas Co., Ltd.
- Asahi Group Holdings, Ltd.
- Isuzu Motors Ltd.
- Olympus Corporation
- Sakai Chemical Industry Co., Ltd.
- Duskin Co., Ltd.
- Tamagawa Academy & University
- Toho Titanium Co., Ltd.
- New Otani Co., Ltd.
- Marunouchi Heat Supply Co., Ltd.
- Sumitomo Mitsui Trust Bank, Ltd.
- Mitsubishi Estate Co., Ltd.
- Yakult Honsha Co., Ltd.
- Lumine Co., Ltd.
The Alliance was established through the concerted efforts of Tokyo Gas, which procures and supplies CNL, and the remaining companies, which purchase CNL, with the aim of spreading the use of CNL and increasing its utility value toward the achievement of a sustainable society.
“Choosing carbon neutral energy is an important solution that will contribute toward tackling climate change and the SDGs, as well as directly lead to ESG management. The carbon credit for CNL involves the CO2 reduction effects of environmental conservation projects throughout the world that have been certified by a reliable carbon credit certifier”.
…Tokyo Gas stated.
Concluding, Tokyo Gas started importing CNL back in 2019 and became the first company in Japan to supply it to customers as carbon neutral city gas.
