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Business partnership for the establishment of a framework to evaluate the quality of carbon credits.
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November 18, 2024
Osaka Gas Co., Ltd.
Marubeni Corporation
Osaka Gas Co., Ltd. (Representative Director and President: Masataka Fujiwara, hereinafter referred to as 'Osaka Gas') and Marubeni Corporation (Representative Director and President: Masumi Kakinoki, hereinafter referred to as 'Marubeni') have signed a memorandum of understanding for business alliance on a system to evaluate the quality of carbon credits.
In recent years, companies and others have been increasingly utilizing carbon credits in addition to efforts to reduce greenhouse gas (GHG) emissions as a means to achieve carbon neutrality plans. It is estimated that by 2030, up to ¥100 trillion worth of carbon credits (※1) will be required globally, leading to an expected increase in the number of Carbon Credit Creation Projects (hereinafter referred to as 'Credit PJ').
On the other hand, given the possibility of low-quality carbon credits not meeting standards, properly evaluating the quality of carbon credits is crucial not only to mitigate quality risks but also to avoid greenwashing.
Through this business alliance, Osaka Gas aims to utilize the Carbon Credit Quality Initial Evaluation AI System (hereinafter referred to as 'this AI system') which it pioneered globally to establish a framework for the secure use of carbon credits.
Osaka Gas has developed this AI system to conduct a quick and simple check on the quality of carbon credits by analyzing Credit PJ plans using AI to assess their alignment with multiple criteria. Efforts will be made to further enhance the development of this AI system, expand its application areas for carbon credits, and improve evaluation accuracy.
Marubeni collaborates with domestic and international businesses to engage in GHG reduction activities and support, creating carbon credits and contributing to global GHG reductions through trading. Marubeni aims to explore possibilities for the development and business expansion of this AI system, as well as identifying and proposing needs for forming a reliable platform for its use.
Osaka Gas and Marubeni will contribute to achieving carbon neutrality by 2050 through the widespread adoption of this framework.
(From left) Masahiro Yamazaki, Marubeni Executive Officer/Head of Energy Division, Eiji Natsuki, Osaka Gas Executive Officer/Head of Business Creation Division.
| ※1： | World Market Report on Carbon Credits in 2024 (Global Information Co., Ltd.). |
| *2: | According to Osaka Gas research. |
| ※3： | Regarding the development of a system to evaluate the quality of carbon credits using AI technology (announced in October 2024). Webページはこちら  First, the application to the biochar sector has been completed, confirming high accuracy. |
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