IHI Corporation, Fujitsu Limited, and Mizuho Bank announced that the three companies have entered into a memorandum of understanding (MOU) regarding a joint business venture to provide the J-Credit Creation Total Support Service.
Through this collaboration, the three companies seek to expand the J-Credit Creation market, accelerate decarbonization management, and contribute to creating a sustainable society.
J-Credit is the credit certified by the Japanese government for the amount of greenhouse gas emissions reduction or absorption.
J-Credit Creation Total Support Service will make easier to create J-Credits in the J-Credit scheme and support J-Credit creators quickly make money from it.
There are various phases for companies and organizations to create J-Credits, from project registration to J-Credit creation, and the significant time and effort required is an issue. In addition, there is also an inherent risk that after making the credits, there’s a chance that buyers won’t be found to buy them, which could delay monetization.
In order to tackle these issues and increase J-Credit creation ahead of expected rising demand, this joint enterprise will combine the Mizuho Bank network with the MRV Support System (which uses blockchain to improve the efficiency of operations), which digitizes the process of creating environmental value (i.e., measurement, reporting, and verification) and was developed by IHI and Fujitsu, to offer a total support service for J-Credit creators.
In addition, in the first quarter of fiscal 2025, the effort aims to start providing J-Credits creation support for activities to reduce emissions through the introduction of photovoltaic power generation facilities to replace grid electricity.
The J-Credit Creation Total Support Service combines Fujitsu’s blockchain and automation technology with IHI’s J-Credit creation and data collection knowledge. This combination allows for reliable data management and storage and simplifies the application procedures required for J-Credit creation through automation.
Moreover, through the J-Credit priority purchase program, which utilizes Mizuho Bank’s customer network, the three companies provide a one-stop service: the J-Credit Creation Total Support Service.
IHI leverages its engineering and IoT capabilities to collect operational data on customer facilities, calculate CO2 reductions, and support the creation of environmental value, including through the creation of J-Credits.
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