Commencement of Carbon Offset Services
May 29, 2009
ITOCHU Corporation has started offering carbon offset services especially designed for the ITOCHU Group companies and their customers, in association with Recycle One, Inc. (“Recycle One”).
ITOCHU Corporatoin, while possessing the ability to effectively procure emission credits, will utilize Recycle One's expertise in introducing carbon offset programs, to promptly provide reliable and effective carbon offset services to the ITOCHU Group companies and their customers.
Reliable Carbon Offset Services
This initiative is designed to develop new business opportunities using emission credits, and offers society the opportunity for an environmentally conscious lifestyle under the Group's initiatives to meet its corporate social responsibilities. Moreover, these services can assist customers, at their discretion, to achieve the targets of the Kyoto Protocol as specified by the Japanese government. To ensure that the greenhouse gases discharged by customers are fully offset, the carbon offset services are provided by ITOCHU's procuring certified emission reductions (CER) in accordance with the clean development mechanism (CDM) certified by the United Nations based on the Kyoto Protocol, and by Recycle One's processing the related carbon offsetting procedures. Upon commencing the provision of carbon offset services, ITOCHU Corporation will develop a scheme that provides comprehensive services by using the strengths of the two companies to assist customers to promptly and appropriately adopt carbon offset services.
Provision of Comprehensive Services
To provide customers with reliable carbon offset services, comprehensive services for any matters associated with carbon offsetting will be provided by ITOCHU Corporation through a collaboration with Recycle One, one of the leading carbon offset providers in Japan. These services include the procurement of emission credits, assistance with the planning and introduction of carbon offsetting, and emission credit management operations following the introduction of the credits. Under this collaboration, Recycle One will provide knowledge of carbon offset operations (including consultation for the initial introduction, retirement of emission credits, and operational management following the introduction of carbon offsetting), while ITOCHU Corporation will secure the emission credits used for carbon offsetting. This collaboration does not interfere with any preceding or currently effective agreements with other parties, nor restricts either party to work with other organizations.
ITOCHU Corporation will focus on providing products and services associated with carbon offsetting across the board. By offering them through the ITOCHU's supply chain to the ITOCHU Group companies and their customers, ITOCHU Corporation anticipates the revitalization of the existing business supply chain.. It will also aim to provide carbon offset products and services to consumers, offering the opportunity for an environmentally conscious lifestyle.