On September 16, 2024, IHI, Fujitsu, and Mizuho Bank signed a Memorandum of Understanding (MOU) to launch the “J-Credit Total Support Service” aimed at streamlining the process of creating J-Credits for businesses. This service aims to fully support companies from the creation to the monetization of J-Credits, facilitating decarbonization efforts in corporate management.
Streamlining J-Credit Creation and Shortening the Monetization Process
As the world moves toward a decarbonized society, companies are increasingly expected to reduce CO2 emissions. J-Credits, a system whereby the government certifies reductions or absorptions of greenhouse gases, have become a key tool for this. However, the process of creating J-Credits involves a significant amount of time and work. To address this challenge, IHI, Fujitsu, and Mizuho Bank have announced their collaboration to develop the “J-Credit Total Support Service.”
This service, developed through IHI and Fujitsu’s “MRV Support System,” digitizes the processes of collecting, reporting, and verifying CO2 emissions data, thereby reducing the burden on J-Credit creators. Additionally, leveraging Mizuho Bank’s extensive client network, the service aims to significantly shorten the lead time for J-Credit monetization.
The creation of J-Credits, particularly for emissions reduction projects involving solar power installations, is expected to begin in the first quarter of 2025, with the market for J-Credits anticipated to grow significantly in the future.
IHI will utilize IoT technologies to accurately collect operational data from equipment and calculate CO2 reductions, while Fujitsu’s blockchain technology will ensure transparency and reliability in the data. This allows businesses to create J-Credits more efficiently and accelerate their decarbonization strategies.
Through this collaboration, the three companies aim to foster the development of the J-Credit market in Japan, support corporate efforts to create environmental value, and contribute to the realization of a sustainable society.
[Press release here]