Keidanren Carbon Neutrality
Action Plan
－ Vision toward Carbon Neutrality by 2050
and Fiscal 2023 Follow-up Results(Performance in Fiscal 2022) －(Provisional Translation)

April 2, 2024
KEIDANREN(Japan Business Federation)

Keidanren’s efforts toward carbon neutrality (CN)
“Challenge Zero” (Jun 2020)○Proactively publicize and support actions to create innovation taken

by companies and organizations towards early achievement of CN
which the Paris Agreement sets as the long-term goal.

First Policy Speech by then Prime Minister Suga (Oct 2020)“We hereby declare that by 2050 Japan will aim to reduce greenhouse gas emissions
to net-zero, that is, to realize a carbon-neutral, decarbonized society.”

Chairman Tokura’s Speech at the Keidanren Regular General Meeting”Urgent Policy Proposal toward Achieving Green Growth” (Jun 2021)

Announced that the Keidanren Commitment to a Low Carbon Society would be reformulated as the Keidanren
Carbon Neutral Action Plan, an initiative for achieving CN by 2050 and realizing GX (Green Transformation).
Relevant industries were invited to formulate action plans following the announcement.

Formulated the “Keidanren Carbon Neutrality Action Plan” (Nov 2021)”Toward Green Transformation (GX)” (May 2022)

Proposed that a society- and economy-wide ”green transformation (GX) would be required to achieve CN in 2050
and called for the early formulation and implementation of a GX policy package by the Government. Renewed its
announcement that Keidanren would firmly implement the Keidanren CN Action Plan and promote themaximum deployment of BATs to reduce emissions and the development of innovative technologies.
1Outline of Keidanren Carbon Neutrality Action Plan
 Contributing to long-term global warming countermeasures on a
global scale through efforts based on the formulation of a Visionand four pillars.

Pillar1
Pillar２
Pillar３
Pillar４

Emission reductions from domestic business operations

Setting up 2030 target
Strengthening co-operation with other interested groups(Contribution through low-carbon energy-saving products and services)

Promoting contribution at the international level(Deploying and supporting products and technologies on a global scale, including developing countries)

Development of innovative technologies toward CN by 2050
(incl. transition technologies)

P D C A

(Verification by the Third Party Evaluation Committee)※The participated industries are 63, an increase of one industry from this follow-up result.

63 industries
participate※

Towards significant global GHG
emission reductions

Vision toward
carbon neutrality by 2050

Vision toward Carbon Neutrality by 2050 (1)2050CN The number of industries with Visions increased to 45,
covering around 70% of all participating industries.
Status of Vision formulation among participating industries(In terms of number of industries)
FY2022FU

FY2023FU

3

Vision toward Carbon Neutrality by 2050 (2)2050CN CO2 emissions from the industries that have alreadyformulated visions collectively amount to 97 percent of total
emissions.
Status of Vision formulation among participating industries(In terms of emissions (10,000 t-CO2) )FY2022FU

FY2023FU* CO2 emissions after electric power distribution are used for theindustry, commercial and transport sectors, and CO2 emissions before
electric power distribution are used for the energy conversion sector. 4

Industry-specific Visions toward CN by 2050

2050CN

SectorIndustry

Vision (Basic Policy, etc.)

Energyconversion

Electric power

Continue to implement measures that serve both purposes of “decarbonizing electric power” and “promoting electrification,” such as
maximizing the use of established technologies for decarbonizing power generation (nuclear power and renewable energy) and utilizing heatpumps, while also pursuing an energy mix that simultaneously achieves “S+3Es.” At the same time, it will work closely with the government
toward the practical application of innovative technologies (small module reactors, next-generation solar power, storage batteries, hydrogen- andammonia-fired power generation, CCUS/carbon recycling) through “innovations,” or solutions to advance electric power supply services.

Petroleum

Contribute to achieving society-wide CN through aiming to net zero CO2 emissions (CN) and decarbonizing the products it supplies by accelerating efforts todecarbonize supply chains and products and actively engaging in the research and development and social implementation of innovative technologies
infrastructure ((1)CO2-free hydrogen, 2)synthetic fuels, 3)CCS/CCU (Carbon recycling), etc.) that can utilize existing.

Gas

Under the policy to achieve carbon nuetralization of gas, promote conclusive shift to natural gas and the sophisticated use of natural gas,decarbonization of gas (methanation and hydrogen use, etc.) and development of CCS/CCU-related technologies.

Iron and steel

Toward achieveing carbon-neutrality, explore multiple pathways by employing every possible means including the drastic reduction of CO2
emissions from blast furnace through COURSE 50 and ferro coke technologies plus CCUS, development of super innovative technologies such ashydrogen-based iron making and expanded use of scrap.

ChemicalAllow the potential power of “chemistry” to emerge, thereby promoting and accelerating innovations that will resolve global issues and contribute tosustainable development. Under this policy, engage in the carbon circulation of raw materials (material use of CO2, utilization of plastic waste, etc.) ,structures to minimize energy use and in the conversion of processes (membrane separation processes).

CementFor reducing CO2 emissions from producing clinker, the cement industry enhances to reduce not only clinker cement ratio but also fossil
energy sources by using various waste and biomass, in addition hydrogen and ammonia in the future.

Paper
manufacturing

Promote energy efficiency efforts and fuel conversion in production activities (active introduction of the latest energy-efficient facilities and technologies,
increase of the utilization ratio of renewable energies, innovative technologies (development of high efficiency pulp production methods), etc.).
Also engage in unique efforts such as reducing CO2 emissions from product life cycles by developing and utilizing environment-friendly materials
derived from wood biomass (cellulose nanofiber, etc.) and expand contribution in afforestation as a source of CO2 absorption.

Electrical &electronics

Under the policy of contributing to resolve social issues related to climate change and energy constraints through various business fields from the threeperspectives of “technology development”, “co-creation”, and “resilience”, engage in innovating advanced energy conservation and carbon-free technology(smart grids, hydrogen production using water electrolysis, power semiconductors, rapid or wireless charging systems, etc.) and the social
implementation of advanced data utilization solutions (autonomous driving systems, smart factories, accurate weather observation and simulation
technologies, etc.).

Automobile

Deploy electric vehicles (HV, PHV, EV, FCV, etc.) and to achieve a hydrogen economy (spreading FC-based mobility, etc.).

Shipping

Work on the shift to zero-emission vessels using alternative fuels such as carbon-recycled methane, ammonia and hydrogen.

Railway

Promote the development of renewable power sources and accelerate its deployment, deploy storage battery-powered railing stock, develop fuel cellrolling stock, with a view to achieving net zero CO2 emissions at every stage across energy production to use.

Real estate,buildings

Envisioning a society that has reached CN by 2050 with widely deployed “energy-savings and renewable energy-conscious buildings, such as ZEB
and ZEH”, “buildings that use low-impact construction material,” and “cities that enable community-wide CO2 reductions by combining renewableenergy facilities, storage batteries and power interchange,” promote ZEB/ZEH and HEMS/BEMS in individual buildings and promote ZET and
CEMS in the context of entire communities.

(Efforts toachieve CN inenergy)Industrial(Efforts toestablishtechnologies tofundamentally
reduce CO2)

Transportation-related(Efforts toachieve CN in
mobility andtransport)

Commercial(Efforts for fullenergyefficiency)

5Reviewing emission reduction targets from domestic
2030 target
business operations
 9 industries have reviewed their targets in fiscal 2022 FU.
 This is evidence of the business community’s will to contributeto achievement of the Government’s target to reduce emissions
by 46%.
Status of review of Phase II (FY 2030) target (number of industries)
To be reviewed

FY2020FU

24

Plan to review

36

October 2020
pledged 46% emission reductions in 2030
FY2023FU

9

40

0

10

20

30

40

18

50

60

70

80

Number of industries※Result for industries that have disclosed their targets and performance. （The total does not match as several industries revisited theirtarget several times. ）6

Pillar 1: Emission reductions from domestic business
CN Action Plan Performance
operations (1) Total CO2 emissions from all sectors (industrial, energy conversion, commercial,transportation) decreased by 20.1％ from fiscal 2013(*) to fiscal 2021. (*)
Baseline year for Japan’s 2030 target Emissions have decreased by 3.5％ from fiscal 2021, mainly caused by decreased
economic activity in Hard-to-Abate due to surging energy and feedstock prices,
prolonged supply and demand fluctuations due to the shortage of semiconductors
as well as shrinking external demand.

65,000<Emission trends in fiscal 2013-2022>
Total emissions from all sectors
20.1％

CO2 emissions (10,000 t-CO2）

60,288

reductions

59,04360,00057,37056,95956,93555,00053,44653,70949,92850,00048,156
46,931

3.5％

reductions

45,00040,000FY2013

FY2014FY2015FY2016FY2017FY2018FY2019FY2020

FY2021

FY2022※The Preliminary Version reports CO2 emissions (after electric power distributions) from 60 industries out of the 63 participating
industries. The most recent heat values and carbon emission coefficients available at the time of the survey have been used for
calculating CO2 emissions.
※The scope of calculations differs between fiscal 2013 and after fiscal 2019 due to offshoring of businesses, etc.

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Pillar 1: Emission reductions from domestic business
CN Action Plan Performance
operations (2) Compared to the previous year, CO2 emissions were reduced inindustrial sector in fiscal 2022. On the other hand, energy
conversion, commercial and transportation sectors were increased.
45,00040,00035,00030,00025,00020,00015,00010,0005,000
039,81333,75831,617FY2013

FY2021

13,469CO2 emissions（10,000t-CO2）

CO2 emissions （10,000 t-CO2）

FY2013

FY2022

10,941 11,230

2,739 1,846 1,863

Industrial

Commercial

Transportation<CO2 emissions after power distribution>

SectorIndustrial
Commercial
Transportation
Energy conversion*

Target industries/
participating ind.
31/31 industries
17/17 industries
12/12 industries
3/3 industries

60,000

FY2021

FY202253,66750,00040,00035,783 35,947

30,00020,00010,0000Energy conversion*<CO2 emissions before power distribution>

FY2022emissions316.17 Mt-CO2
18.63 Mt-CO2
112.30 Mt-CO2
359.47 Mt-CO2

Relative toFY2013-20.6%-32.0%-16.6%-33.0%

Relative toprevious FY(FY2021)
-6.3%
+0.9%
+2.6%
+0.5%

* Emissions before power distribution are provided for the energy conversion sector; and emissions after power distribution, for other sectors.

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Pillar 1: Emission reductions from domestic business operations- Factor analysis of change in emissions: relative to FY2021 Breakdown of factors of change in CO2 emissions① Change in economic activity
Increase in the commercial and transportation sectors, decrease in the industrial sector② Change in CO2 emission factors（decarbonization of energy)
Increase in the commercial sector, decrease in the industrial and energy conversion
sectors③ Change in energy consumption per unit economic activity (energy saving efforts)
Increase in the energy conversion and transportation sectors, decrease in the industrial
and commercial sectors<by sector>①-6.1％②-0.2％③-0.1％

From previous FY: -6.3％

2021

2022

Industrial①-0.0％③+1.3％②-0.8％①+6.6％②+0.6％

From previous FY: +0.5％

2021

2022

Energy conversion<Main factors>①：Surging energy and feedstock prices,
prolonged supply and demand<Main factors>
fluctuations due to the shortage of①：Increased demand due to recovery fromsemiconductors, shrinking external
COVID-19, reduced production of city gas
demand, etc.
②：Introduction of high-efficiency thermal②: Change in the energy structure
power plants
resulting from the decline in economic③：Lower heat efficiency of thermal power
activity, fuel conversion, energy
recovery③: Continued energy saving efforts
despite worsening energy consumption
intensity due to reduced production③-6.3％

From previous FY: +0.9％

2021

2022

Commercial①+1.9％②+0.0％③+0.8％

From previous FY: +2.6％

2021

2022

Transportation<Main factors><Main factors>①: Increased people and material flow①: Increased telecommunication
volumes with more time spent at home due to recovery from COVID-19②: Slight increase in CO2 coefficient ofamid COVID-19②: Slight increase in CO2 coefficient of purchased electricity③: Shorter distance trips, smaller lots,
purchased electricity
and higher frequency, aggravated③: Improved efficiency of facilities,
transport efficiency due to reduced
equipment and operationstransport volumes

9

Status of deployment of renewable energy, energy
CN Action Plan Performancerecovery and utilization
With a view to achieving CN, more industries are deploying and developing renewableenergy (solar power, hydropower, wind power, biomass and geothermal, etc.).



Seek CO2 emission reductions by recovering and utilizing waste heat and byproductgases generated during manufacturing or fuel use, thus reducing fuel consumption.
Deployment of renewable energy

Energy recovery and utilization

Development and deployment of solar, hydro, wind,biomass and geothermal power generation (Electric PowerPower generation using byproduct gases and waste
heat recovered energy; steam use (The Japan Iron and SteelCouncil for a Low Carbon Society)Federation)

Biomass power generation (Japan Paper Association, JapanUse of waste as alternatives for heat (Japan Cement

Use of hydropower generation at businessestablishment (Japan Aluminium Association)

Waste heat power generation (Japan Cement Association,

Solar power generation（Japan Paper Association, Liaison Group of

Utilization of waste heat from boilers as a heat sourcefor HVAC at plants (The Japan Rubber Manufacturers Association,

Cement Association)

Japanese Electrical and Electronics Industries for Global Warming, The
Japan Rubber Manufacturer Association, Japan Soft Drink Association,
Japan Dairy Industry Association, The Japan Bearing Industry Association,
Japan Machine Tool Builders’ Association, Japan Industrial Vehicles
Association, Japan Franchise Association, Japan Foreign Trade Council,
The Real Estate Companies Association of Japan）

PPA* (Japan Auto Parts Industries Association, Japan Federation of

Printing Industries, Japan Franchise Association）

Finance and investment in renewable energy projects（Japanese Bankers Association, The Life Insurance Association of Japan,
The General Insurance Association of Japan, Japan Securities Dealers
Association）

Renewable power generation (Japan Chemical Industry

Association, Japan Cement Association, The Japan Bearing Industry
Association, Japan Society of Industrial Machinery Manufacturers, Brewers
Association of Japan, Telecommunications Carriers Association, Telecom
Services Association, Central Japan Railway Company)

Association)

Japan Mining Industry Association, The Japan Rubber Manufacturers
Association, Flat Glass Manufacturers Association of Japan)

etc.)

Cogeneration Systems (Japan Chemical Industry Association, The
Japan Rubber Manufacturers Association, The Federation of
Pharmaceutical Manufacturers’ Associations of Japan, Brewers
Association of Japan, Japan Foreign Trade Council)

Other waste heat recovery and use (Japan Mining Industry
Association, Japan Lime Association, Japan Aluminium Association,
Japanese Electric Wire & Cable Makers’ Association, Petroleum
Association of Japan)*Power Purchase Agreement: An agreement where solar power systems,
etc. are installed on the rooftop of a business operator’s building free ofcharge and the power generated is bought by consumers, such as thebusiness operator.

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Pillar 2: Strengthening co-operation with other
CN Action Plan Performanceinterested groupsMany industries contribute to achieving avoided emissions along the value
chain (procurement, provision of products and services, use, disposal, etc.).
Active communication through the quantification of reductions and
Keidanren’s concept book in order to raise public recognition of products andservices that contribute to society-wide emission reductions.

＜Examples of emissions reduction efforts along the value chain＞
Procurement of products that emit less before manufacturing

Biomass polyethylene containers (The Federation of
Pharmaceutical Manufacturers’ Associations of Japan)<Approach to avoided CO2 emissions>

Provision of products and services that emit less during use

High-function steel (The Japan Iron and Steel Federation)
Residential thermal insulation material (Japan Chemical Industry

Association)

Digital solutions utilizing IoT and AI (Liaison Group of JapaneseElectrical and Electronics Industries for Global Warming)
Next-generation vehicles (Japan Automobile Manufacturers Association)
High mileage tires (The Japan Rubber Manufacturers Association)
Insulating glass (Flat Glass Manufacturers Association of Japan)
Latent heat recovery type high-efficiency oil hot water boiler(Petroleum Association of Japan)

Provision of lightweight products that emit less during transport

Lightweight paper and cardboard (Japan Paper Association)
Disposal of products (3R)

Effective utilization of waste and byproducts (Japan Cement Association)

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Pillar 3: Promoting contribution at the international
CN Action Plan Performance
level




Many industries contribute to reducing global GHG emissions throughoverseas transfer of advanced products and services and overseas deploymentof products and services.
Industries are promoting the quantification of emissions avoided throughinternational contribution, as done in measures taken under Pillar 2.

＜Examples of avoided emissions overseas＞
Overseas transfer of technologies and knowhow
CDQ (coke dry quenching), TRT (top-pressure
recovery turbine) power generation, GTCC*1
exclusively fired using by-product gas (The Japan Iron
and Steel Federation)

Provision of low-carbon products and services
Polyethylene terephthalate from biomass, aircraft
lightweight materials, next-generation vehicles materials(Japan Chemical Industry Association)

High efficient thermal power generation and renewable

Desalination technologies using reverse osmosis
membranes (Japan Chemical Industry Association)
Aluminum recycling (Japan Aluminium Association)
CO2 recovery from coal-fired thermal power plants
and EOR(Japan Petroleum Development Association)
Renewable power generation (Electric Power Council for

Association)a Low Carbon Society, The Japan Gas Association, etc.)

Energy-saving ships (The Shipbuilders’ Association of Japan &Renewable energy IPP*3 business (Japan Foreign Trade

Council)*1 Gas Turbine Combined Cycle*2 Enhanced Oil Recovery*3 Independent Power Producer

power generation technologies, high efficiency IT
products, solutions (Liaison Group of Japanese Electrical andElectronics Industries for Global Warming Prevention)

Next-generation vehicles (Japan Automobile Manufacturers

The Cooperative Association of Japan Shipbuilders)

Water-saving toilets (Japan Sanitary Equipment Industry
Association)

Permanent magnet synchronous motors (PMSM) for
railway vehicles (Japan Association of Rolling Stock Industries) 12

Pillar 4: Development of innovative technologies
CN Action Plan Performance
toward CN by 2050

The creation of completely new innovations is key to achieving significant
CO2 reductions in the medium- to long-term toward CN by 2050, as drastic
reductions cannot be achieved along the lines of conventional measures.
Medium- to long-term R&D that the private sector finds difficulty in committing
to alone will be continued through collaboration with the Government.

<Example of roadmaps for developing and deploying innovative technologies>
Industry/company

The Japan Iron and SteelFederation
Japan Chemical Industry
Association

Innovative technologies※

2022

2025

2030

Development of Hydrogen Reduction
Technologies Utilizing Hydrogen From Within
Steelworks

Implementation

Development of Low-carbon Technologies
Using External Hydrogen and CO2 Containedin Blast Furnace Exhaust Gas, development of
direct hydrogen reduction technologies

Technology
Demonstration

Plastic feedstock production technologies using
CO2, etc.

R&D, commercialization

Japan Paper Association

Manufacturing of bio-ethanol for Sustainable
Aviation Fuel (SAF)

Japan Cement Association

Lower emission cement

Japan Petroleum
Development Association

CO2 underground storage (CCS)

Demonstration

Ammonia co-firing

Demonstration

The Electric Power Council
for a Low Carbon Society

Hydrogen co-firing

Petroleum Association ofJapan

Technology development of synthetic fuels (efuel)

The Japan Gas Association

Production of e-methane by methanation

East Japan Railway Company Development of hydrogen-powered train※Includes transition technologies

Start production
facility operation
Preliminary
considerations

2050

Implementation

Business phase

Increaseproduction

Confirm manufacturing conditions,
economic rationality, etc.
Commercialization
Start operations;increase co-firing ratio

Single fuel firing
Start operations;increase co-firing ratio

Demonstration
Studies oncommercial plant,
capital investmen

Commercialization

R&D, demonstration

Commercialization

Increased
commercialization

Demonstration

Introduction

Increased
deployment

R&D

Demonstration inpilot plant13

ReferenceKeidanren’s efforts to combat climate change
1991 April

Presentation on Keidanren Global Environment Charter

1992 June

Adoption of the Framework Convention on Climate Change

1997 June

Presentation on the Keidanren Voluntary Action Plan on the Environment

1997 December

2015 July

Adoption of Kyoto Protocol (COP3)
Announcement of the first phase of the plan for Keidanren’s Commitment
to a Low Carbon Society (FY 2020 targets)
Current Policy of Global Warming Countermeasures（Decision of Global Warming Prevention Headquarters）
Announcement of the second phase of the plan for Keidanren’s Commitment
to a Low Carbon Society (FY 2030 targets)
Submission of Japan’s Intended Nationally Determined Contribution (INDC) to the UN2015 December

Adoption of the Paris Agreement (COP21)

2016 November

Entry into force of the Paris Agreement

2018 November

Announcement of Keidanren’s Concept Book “Contributing to Avoided Emissions
through the Global Value Chain”

2019 January

Announcement of Keidanren’s “Actions by the Business Community on Long-term
Global Warming Countermeasures up to 2050”

2019 June

Japan's Long-term Strategy under the Paris Agreement （Cabinet decision）

2020 June

Starting “Challenge Zero”

2020 October

Declaration of challenge of achieving carbon neutrality by 2050

2013 January
2013 March
2015 April

2021 November

Announcement of Keidanren Carbon Neutrality Action Plan

2022 May

Toward Green Transformation (GX)

2023 July

GX Promotion Strategy (Cabinet Decision)
15

Evaluation and verification of the Keidanren CN
Action Plan
 Individual industries formulate targets based on the maximized deployment of BAT(best available technologies) and prospects of economic activity.
 The progress made under the Action Plan is checked by the Third Party Evaluation
Committee and Government councils and target levels are continuously reviewed.

●Progress is reported atGovernment council meetings(Joint WG meetings of
Subcommittees under theCentral Environment Council andIndustrial Structure Council)

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Annual follow-ups by the Government
 Annual follow-ups are conducted for industries under the supervision of the Ministry of Economy,
Trade, and Industry (METI) by 7 industry-specific WGs under Councils comprising expert
committee members from universities and research institutions. Results are reported to a higher
level, the joint meeting of METI and the Ministry of the Environment (MOE)’s councils.
 Government-wide annual follow-ups are conducted on global warming countermeasures, including
the business community’s Commitment to a Low Carbon Society, and results are compiled by the
Global Warming Prevention Headquarters led by the Prime Minister.

Global Warming Prevention Headquarters
Variousministries: MIC,
NPA, FSA, MOF,
MEXT, MHLW,
MAFF, MLIT,
MOE, METI*
METI
MOE

Industryspecific WGs(METI)
Source: METI material

ReportFollow-ups of global warming countermeasures atrelevant councils under each ministry/agency
Report
Joint meeting of the Global Environment Subcommittee (Industrial Structure Council) and the Expert
Committee on Follow-ups to the Commitment to a Low Carbon Society (Industrial Structure Council)

Resource& energy

Iron andsteel

Chemical;non-ferrous
metalsPaper
manufacturing;
flat glass;cement, etc

Electrical &electronics;
industrial
machinery, etc.

Distribution;
service

Automobile;
auto parts;
auto-body*MIC: Ministry of Internal Affairs and Communications; NPA: National Policy Agency; FSA: Financial Services Agency; MOF: Ministry of Finance;
MEXT: Ministry of Education, Culture, Sports, Science and Technology; MLIT: Ministry of Land, Infrastructure, Transport and Tourism; MAFF:
Ministry of Agriculture, Forestry and Fisheries; MHLW: Ministry of Health, Labour and Welfare of Japan; MOE: Ministry of the Environment

17

Positioning in Japan’s Climate Change Countermeasures
 Keidanren’s proactive efforts have been positioned as a pillar of Japan's climatechange countermeasures.
“Current policy regarding global warming prevention”（March 15, 2013; Global Warming Prevention Headquarters)
Regarding measures to be taken in each sector against carbon dioxide emissions, of energy origin, evaluationsand verifications of voluntary approaches taken by business operators under the Commitment to a Low
Carbon Society will be conducted along with institutional measures including the formulation, announcement
and implementation of emissions control guidelines and various support measures.

Japan’s NDC (interim target)（decision by the Global Warming Prevention Headquarters and registration

with the U.N. on July 17, 2015; re-submission on March 30, 2020)<Reduction target>
・Japan seeks to firmly achieve its target of reducing emissions by 26% relative to fiscal 2013 levels(-25.4% relative to fiscal 2005 levels) in fiscal 2030.
・The NDC reduction target will be revisited before the next deadline (every five years) under the Paris
Agreement, in line with the revision of Japan’s energy mix, by taking a bottom-up approach of building up
GHG-related measures and aiming to set up a highly motivated figure that reflects further ambition
reduction efforts.
(Explicitly refers to the Commitment to a Low Carbon Society as measures which form the basis for thebottom-up calculation of the GHG emission reduction target.)“Plan for Global Warming Countermeasures” (Cabinet decision of Oct 22, 2021)
The business community, led by Keidanren, has engaged in emission reduction by formulating theVoluntary Action Plan and has achieved highly successful results. Given the steady GHG reductions
achieved while maintaining economic efficiency in many industries under the Commitment to a Low
Carbon Society, in order to secure emission reductions toward achieving the reduction target set up
under this Plan, measures taken by the business community will continued to be centered upon
voluntary approaches.

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