INPEX Endorses GX League Basic Concept

INPEX CORPORATION (INPEX) has endorsed the GX (Green Transformation) League Basic Concept1 announced by Japan's Ministry of Economy, Trade and Industry (METI).

The GX League's aims are to take on the challenge of quickly transitioning to carbon neutrality looking ahead to the realization of carbon neutrality by 2050, as well as lead the transformation of the overall economic and social system including stakeholders. The intent is to create a positive cycle of economic growth and environmental sustainability.

INPEX believes that the GX (Green Transformation) League Basic Concept is consistent with the company's basic management policy towards a net zero carbon society by 2050, which is as follows: "As a pioneer in energy transformation (EX), INPEX will provide a stable supply of diverse and clean energy sources including oil and natural gas, hydrogen and renewable power." For this reason, the company has decided to endorse the GX League Basic Concept.

INPEX considers the various shifts towards a net zero carbon society seen in Japan and around the world as new challenges as well as opportunities to further expand its business. Based on INPEX Vision@2022, the company will proactively engage in energy structure reforms towards the realization of a net zero carbon society by 2050 while responding to the energy demands of Japan and other countries around the world.

1 A concept where companies involved in GX discuss the transformation of the economic and social system as a whole with government, academic and financial sectors and others taking on GX challenges, while at the same time creating new markets.