ITOCHU Announces Start of Demonstration Trial of the GX Cycle Management Service, Which Supports Green Transformation of Business Enterprises

May 1, 2023

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it will commence the demonstration trial of the GX Cycle Management Service, which is designed to support, for example, strategy formulation, action plan development, and execution of measures for green transformation (hereinafter "GX") of business enterprises.

Demand for GX has recently been rising among business enterprises seeking to achieve carbon neutrality. The global market is expected to grow rapidly from 13.8 billion dollars in 2021 to 147.5 billion dollars in 2032 for climate tech or technology specializing in carbon dioxide reduction and actions to mitigate the impact of global warming.* In Japan, many business enterprises still have challenges in drawing up a roadmap for reducing carbon dioxide and in executing concrete initiatives using a roadmap, even as markets strongly demand the disclosure and reduction of carbon dioxide emissions.

ITOCHU will offer a consulting service that supports the development of GX strategies and action plans in collaboration with its partner consulting firms. In addition, ITOCHU will support the introduction of optimal solutions in cooperation with ITOCHU Techno-Solutions Corporation, which possesses knowledge of and expertise in carbon dioxide emission visualization and the implementation of solutions, as well as with other group companies and appliance partners.

ITOCHU is bolstering services for supporting GX as part of "Enhancing our contribution to and engagement with the SDGs," Basic Policies of its Medium-term Management Plan Brand-new Deal 2023. Through this project, ITOCHU aims to contribute to the development of a sustainable society by effectively using our limited resources.