Collaboration with South Pole to Generate and Sell Carbon Credits from Carbon Removal Technologies
TOKYO, May 12, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce it has signed a collaboration agreement with one of the world s largest carbon credit developers, South Pole. Part of MC s efforts to reduce its environmental impact, the agreement covers the joint study of a project to generate and sell carbon credits derived from carbon removal technologies such as CCUS (Carbon Capture Utilization and Storage).
In order to achieve the goals set forth in the Paris Agreement and keep global warming within 1.5degC(1), it is considered critical not only to reduce CO2 emissions, but also to introduce carbon removal technologies such as CCUS, which captures, stores, and effectively uses the CO2 already emitted into the atmosphere. However, technological innovation and cost reduction are issues that need to be addressed before carbon removal technologies can be imple