Message from the President
Message from the President
The second aspect is a challenge of developing new production process aimed at radically reducing CO2 emissions in the manufacturing process. This requires a challenging advanced technical development, that requires us to act in hitherto unexplored areas. This is an enormous challenge in the history of the steel industry. We find it crucial to solidify our development prospects ahead of others and start actual use of the new manufacturing processes at an early stage. We are taking this dramatic change in the business environment as a great opportunity to reestablish our overwhelming superiority in the world steel industry, and we are determined to actively address it as a top management issue. Further, we aim to become the first to provide carbon neutral steel to ourcustomers and thereby contribute to their reduction of CO2 emissions.
Our targets are to reduce CO2 emissions by 30% compared to 2013 in 2030 and achieve carbon neutrality in 2050. We have already launched earnest development efforts toward decarbonizing the steelmaking process. As an example, in December 2021 our project to develop technologies required for achieving these targets has been adopted as a part of the “hydrogen utilization in iron and steelmaking processes” project of the government’s Green Innovation Fund.We are determined to boldly take up the challenge toward the realization of carbon neutrality through collaboration by the public and private sectors in various areas, including the government’s support for R&D and equipment installation, the establishment of an infrastructure to supply hydrogen, the realization of a low-cost, abundant carbon-free power sources, and the establishment of a system for society as a whole to bear the enormous costs associated with these.
With regard to biodiversity preservation, which we recognize as indispensable as part of the base of our business activities, we have long been involved in the “Creation of a Hometown Forest” at each steelworks, and “blue carbon” activities designed to create seaweed beds and absorb CO2 in coastal waters. We are thus developing initiatives that harmonize nature protection and production activities. We will continue to use our management resources and accelerate various initiatives. We formally expressed our support to Keidanren’s Declaration of Biodiversity and Action Policy and are promoting its activities in accordance with our policy of action based on this. As initiatives to establish a society co-existing with nature are both regional and global issues, we intend to incorporate them in our business activities and to execute environmentally integrated management, with the aim of realizing a sustainable society.