Japanese companies Tokyo Gas, Idemitsu Kosan and Mizuho Bank have joined forces to accelerate decarbonisation projects and expand the generation of carbon credits under Japan’s Joint Crediting Mechanism (JCM), pooling their expertise in energy, project development and finance.
The alliance comes as Japan steps up efforts to drive international emissions reductions through public-private sector collaboration. The Japanese government is targeting cumulative international CO2 reduction and removal of 100 million tons by FY2030 and 200 million tons by FY2040.
The three companies aim to strengthen the development and commercialisation of JCM projects in partner countries, helping generate carbon credits while supporting sustainable growth and the transition to a carbon-neutral society.
The partnership brings together Tokyo Gas’s decarbonisation solutions, Idemitsu Kosan’s experience in energy project development and implementation, and Mizuho Bank’s financial expertise and sustainable business capabilities. The companies believe their combined strengths will help address the challenges and risks involved in developing large-scale decarbonisation projects and ensure a more consistent supply of JCM credits.
Tetsuya Iwata, General Manager of Solution Business Department, Solution Cocreation Division, Tokyo Gas Co., Ltd., said: “Under our solution business brand ‘Igniture,’ the Tokyo Gas Group offers a diverse range of solutions—including energy conservation, renewable energy, and carbonneutral city gas—to support our customers in achieving their carbon neutrality goals. We place a high priority on the reliability of carbon credits and believe that JCM credits will play an increasingly vital role in the future.
"To ensure the largescale and continuous generation of these credits, it is essential for companies to collaborate and pool their respective expertise and strengths. Through this partnership with Idemitsu Kosan and Mizuho Bank, we aim to consolidate the experience and knowledge of all three companies to accelerate the implementation of JCM projects and contribute to the realization of a carbon neutral society.”
Hiroshi Tanaka, Executive Officer, General Manager of Carbon Neutral Transformation Department, Idemitsu Kosan Co.,Ltd., said: "Developing and commercializing decarbonization projects under the JCM presents a variety of challenges and risks, making collaboration among partners with diverse expertise and strengths increasingly essential.
'Drawing on our experience in energy project development and real-world implementation, we will work together with Tokyo Gas and Mizuho Bank to advance decarbonization projects in JCM partner countries and create JCM credits through these efforts. Through this initiative, we aim to contribute to the sustainable growth of partner countries and accelerate the transition toward a carbon neutral future.”
Shuhei Ikeda, Executive Officer and General Manager of the Sustainable Business Promotion Department, Mizuho Bank, Ltd., said: “To sustain progress in developing the JCM credit business, it is important to take a long-term perspective aimed at the best overall outcome. This must be based on an understanding of the latest developments, including international policy trends concerning decarbonization, and anticipate coming progress in hydrogen energy, carbon capture and storage (CCS), and technology-based carbon dioxide removal (CDR).
"Tokyo Gas, Idemitsu Kosan, and Mizuho Bank bringing together our respective business foundations and specialist knowledge to form an alliance for generation of JCM credits and undertake specific initiatives, constitutes a key step in building a sustainable decarbonization business. Through the alliance, Mizuho Bank will create new business opportunities and positively contribute to the achievement of a carbon neutral society alongside companies’ transitions.”
The alliance reflects the growing importance of partnerships that combine industrial expertise, financing and practical project implementation to advance international emissions reduction efforts.
By working together under the JCM framework, Tokyo Gas, Idemitsu Kosan and Mizuho Bank aim to turn decarbonisation opportunities into viable projects, generate carbon credits and support Japan’s wider climate ambitions.
The success of the initiative will depend on the development and implementation of projects capable of delivering sustained emissions reductions while creating long-term value for participating companies and JCM partner countries.
