Fujitsu Limited and IHI Corporation, two of Japan’s major companies, have made a significant stride towards carbon neutrality.
Fujitsu, an information technology conglomerate, and IHI, an engineering corporation specialising in heavy machinery and industrial systems, have embarked on a joint project to develop an environmental value distribution platform.
The partnership aims to simplify the environmental value creation process, particularly the collection, verification, and reporting of data such as CO2 emissions. The main objective is to enable smoother issuance of J-Credits, a scheme endorsed by Japan’s Ministry of the Environment, thereby promoting greater environmental value transactions.
Fujitsu’s primary role is in the field of technology and data. Renowned globally as an IT giant, the firm brings extensive capabilities in developing innovative solutions to various sectors, including finance, transportation, and energy.
In this joint venture, Fujitsu provides its “ConnectionChain” blockchain technology, a secure system that seamlessly links different blockchains, aiding in the distribution of tokens representative of reduced CO2 emissions.
IHI, on the other hand, focuses on engineering and heavy machinery. Its IoT platform, “ILIPS(IHI group Lifecycle Partner System)”, is used in the joint project to collect data that translates into CO2 emissions reductions. These reductions are then transformed into tokens that can be traded on the environmental value exchange market, adding more value to the project.
The partnership has recently received official support from the Ministry of the Environment, which has recognised both Fujitsu and IHI as collaborators in the fiscal year 2023 J-Credit System project. This has paved the way for the start of the “J-Credit Easy Generation” module of the environmental value distribution platform, expected to commence in fiscal 2024.
The project is a three-phased initiative, commencing with planning and discussions from June to August 2023. The second phase, set to run from September to December 2023, will see the construction of the system and a demonstration of its functionalities. The final phase, taking place between January and March 2024, involves necessary adjustments in preparation for the actual implementation.
IHI Corporation and Fujitsu Limited jointly expressed their aspirations for the project, saying, “By adding J-Credit’s ‘J-Credit Easy Generation’ to the environmental value distribution platform, we aim to build a sustainable value chain model that enables smooth trading of the environmental value as J-Credits. This will contribute to the realisation of carbon neutrality and the digital verification of the value generated by environmental measures.”
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