Coal-related business policy
February 14, 2019
In May 2018, ITOCHU announced that we identified “Address climate change (contribute to realization of low-carbon society)” as one of the material sustainability issues (Materiality) that incorporated an ESG perspective, and that we would strive to adapt to the impact of climate change on business and at the same time we would work to promote business activities aimed at contributing to realization of low-carbon society and reduce greenhouse gas emissions.
Based on the said Materiality, ITOCHU has already established and announced our sustainability action plans. We recognize that, among other things, our coal-related business must be one of the issues which we have to promptly address as its impact on our business and our surrounding stakeholders will be significant, and we therefore hereby commit ourselves, as our policy, to neither develop any new coal-fired power generation business nor to acquire any newthermal coal mining interest.
ITOCHU hereby also announces that we have sold our interest in theRolleston thermal coal mine held through our wholly-owned subsidiary in Australia, ITOCHU Minerals & Energy Australia Pty Ltd. This is the second such sale by ITOCHU of one of our thermal coal mine interests in recent years following the sale of our interest in the NCA joint venture in September 2016.
Regarding the existing thermal coal mining business, we will continue to review it and contribute to the development of a sustainable society while responding to the social demands of stable supply of energy to domestic and overseas customers.