INPEX Updates "Corporate Position on Climate Change" and "INPEX's Current Initiatives"

INPEX CORPORATION (INPEX) has set a target to achieve its own net zero carbon emissions by 2050 to contribute to the Paris Agreement objectives*1 as outlined in its "Business Development Strategy - Towards a Net Zero Carbon Society by 2050"*2 announced in January 2021. Based on this strategy, The company has also revised its "Corporate Position on Climate Change," which explains the company's response measures against climate change. The report was originally issued in December 2015. The latest version also incorporates "INPEX's Current Initiatives," which provide details on these measures including achievements since the last revision (for the period from February 2020 to February 2021) as well as ongoing efforts.

Key components of the "Corporate Position on Climate Change"
1. Basic Policy on Management Towards a Net Zero Carbon Society by 2050
2. Climate Change Goals
3. Five Business Pillars Towards a Net Zero Carbon Society
  3-1. Upstream CO2 Reduction (Promotion of CCUS*3)
  3-2. Hydrogen Business
  3-3. Enhance and Emphasize Renewable Energy Initiatives
  3-4. Promote Carbon Recycling and Cultivate New Business Opportunities
  3-5. CO2 Absorption through Forest Conservation
4. Towards a More Resilient & Cleaner Upstream Business

To proactively contribute to a net zero carbon society based on the long-term targets outlined in the Paris Agreement, INPEX will continue its sustainable efforts to enhance its initiatives addressing climate change and disclose climate-related information in line with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).

*1 International treaty with the goal of keeping average global warming to well below 2 degrees Celsius
*3 Carbon dioxide Capture, Utilization and Storage