In April 2021, Japan Organization for Metals and Energy Security (JOGMEC) formulated the "Carbon Neutral Initiative” which sets forth policies for strengthening Japan's energy security and addressing climate change. JOGMEC has launched various projects with the aim of ensuring energy security and contributing to a decarbonized society. In particular, JOGMEC positions carbon dioxide capture and storage (CCS) as a technology that would contribute to the stable supply of energy resources and the realization of carbon neutrality by 2050. The organization intends to accelerate its efforts to support domestic and international CCS projects promoted by Japanese companies and strengthen international collaboration with particular focus on ASEAN.
In order to facilitate CCS project development and contribute to decarbonization, it is necessary to foster common understanding on the potential of CCS in climate change mitigation as well as issues such as emission reductions accounting methodologies and risk management. To that end, it is important to learn from precedents and participate in international discussions.
Additionally, knowledge sharing on good practices in using the carbon market will be key in work towards creating high quality carbon credits including evaluation of co-benefits other than mitigation impact.
As part of these efforts, in collaboration with Ministry of Economy, Trade and Industry (METI) and International Emissions Trading Association (IETA), JOGMEC will hold a workshop on the topic of carbon credit and creation of environmental value by CCS with the aim to facilitate CCS deployment through the appropriate use of carbon markets.
In order to facilitate CCS project development and contribute to decarbonization, it is necessary to foster common understanding on the potential of CCS in climate change mitigation as well as issues such as emission reductions accounting methodologies and risk management. To that end, it is important to learn from precedents and participate in international discussions.
Additionally, knowledge sharing on good practices in using the carbon market will be key in work towards creating high quality carbon credits including evaluation of co-benefits other than mitigation impact.
As part of these efforts, in collaboration with Ministry of Economy, Trade and Industry (METI) and International Emissions Trading Association (IETA), JOGMEC will hold a workshop on the topic of carbon credit and creation of environmental value by CCS with the aim to facilitate CCS deployment through the appropriate use of carbon markets.
