 To reach this goal, considering the lead time required for our products and technologies to enter service, we at MHI have de- clared our intent to realize net zero CO2 emissions by 2040, ten years ahead of the Japanese government’s target.

By our estimate, CO2 emissions from products we have provided to our customers (Scope 3) totaled approxi- mately ?.? billion tons as of ????. We are confident in our ability to make a significant contribution to global ?arbon Neutrality by reducing those emissions with our techno- logical capabilities.
In our MISSION NET ZERO announcement, we set two targets? first, to cut our ?cope ? ? ???? emissions by
50% compared to 2019 levels by 2030, and then, to reach Net Zero by 2040. Secondly, we set two targets regard- ing Scopes 1 and 2 emissions–CO2 emissions resulting from our Group-wide production activities. We will reduce Scopes 1 and 2 emissions by 50% compared to 2014 levels by 2030 and then achieve Net Zero by 2040. We have already succeeded in reducing our Scopes 1 and 2 emissions by more than 40%. Today, we are proceeding with plans to demonstrate our Carbon Neutral Factory concept at Mihara Machinery Works in western Japan. We aim to achieve Carbon Neutrality at this manufacturing facility mainly by replacing conventional power sources with green energy derived from renewables, electrifying heat sources, and installing energy management systems. By applying the e?perience gained through these e?orts and working closely with our peers in industry, we will develop innovative, carbon neutral solutions and propose them to our customers. (Pg. 12)

Under MISSION NET ZERO, our 2040 Carbon Neutrality ?eclaration, ??? ?roup?s first goal is to reduce our ??2 emissions (Scopes 1 and 2) to 50% of 2014 levels by 2030 and reach Net Zero emissions by 2040.
Our second goal focuses on Scope 3 emissions, the majority of which arise from customers’ use of our prod-
2030 -50% (Compared to 2014) * Scopes 1 and 2: Calculation based on GHG Protocol
ucts. We aim to reduce CO2 emissions throughout our entire value chain to 50% of 2019 levels by 2030 after deducting reductions from CCUS* and to reduce them to Net Zero by 2040. (Pg. 32)
