Supporting Companies in Efforts towards a Decarbonized Society

October 9, 2020

Release of a list of participating companies in new project titled “Zero-Emission Challenge” 

The Ministry of Economy, Trade and Industry (METI), in collaboration with Keidanren and the New Energy and Industrial Technology Development Organization (NEDO), has been tackling a project titled “Zero-Emission Challenge,” aiming to prepare a list of companies taking on innovations toward realization of a decarbonized society and to provide investors and other stakeholders with useful information on such companies. On October 9, 2020, taking the opportunity of the TCFD Summit 2020, Mr. Kajiyama Hiroshi, Minister of Economy, Trade and Industry, published a list of “Companies Taking on the Zero-Emission Challenge” showing about 300 listed and unlisted companies in total. METI will further encourage efforts of these companies through such efforts as providing them with opportunities for holding dialogues with investors and other stakeholders.

Outline of the Companies Taking on the Zero-Emission Challenge

METI has positioned companies boldly taking on efforts for innovations toward realization of a decarbonized society as “Companies Taking on the Zero-Emission Challenge” under the Zero-Emission Challenge project and as the first effort for this project, it prepared a list of 320 Companies Taking on the challenge. Following this, on October 9, 2020, Minister Kajiyama published the list taking opportunity of the TCFD Summit 2020. This published list of companies targets METI projects conducted in relation to the Zero Emission Innovation Strategy and 28 NEDO projects, and it shows 320 companies which have agreed to the purpose of the Zero-Emission Challenge project. METI will improve the list in collaboration with other ministries and agencies.

In designing a specific system, the Study Group on Environmental Innovation Finance (chair: Dr. Ito Kunio, Professor, Graduate School, Hitotsubashi University), a body bringing together investors, representatives of financial organizations, experts and other stakeholders, held discussions and formulated criteria for securing objectivity and comprehensiveness of companies to be listed. In addition, METI held deliberations with investors and other stakeholders concerning approaches to publishing the list, in which practical use of the list is assumed, and then reflected the results in the list.

Moreover, METI will formulate a “logo” for the Zero-Emission Challenge project, of which only the Companies Taking on the Zero-Emission Challenge can make use, and call attention of investors to the companies.

Future actions

For each of the 39 major subjects upheld in the Zero Emission Innovation Strategy, e.g., hydrogen, CCUS and renewable energy, METI will provide opportunities for Companies Taking on the Zero-Emission Challenge, investors, policymakers and other stakeholders to hold dialogues. It will advance development of environments to further attract private funds to innovations through encouraging investors and other stakeholders to enrich their understanding of not only trends in technologies but also those in innovations as strategies for business management. Furthermore, it will update useful information for investors and other stakeholders, expecting financial products to be developed in which Companies Taking on the Zero-Emission Challenge are investment targets.