Environment
Environmental Management 

28

Climate Change 

35Sustainable Forestry 43Conservation of Biodiversity and Habitats
50

Water Management

55

Environmental Data

59

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Environment

Environmental Management
PolicyTargets

Structures and Systems

Initiatives

PolicyMarubeni Group Environmental Policy (revised in January 2019)
Basic Philosophy
In full awareness of its responsibilities as a good corporate citizen, recognizing the environmental problems as material issues, theMarubeni Group will make every effort to simultaneously pursue both a prosperous society and environmental conservation, while aiming
to achieve the sustainable development of society.

Basic Principles
As a global corporate entity that engages in diverse business activities across a broad range of sectors, the Marubeni Group will apply theEnvironmental Management System to all the activities, services and products of the Marubeni Group, and observe the following
principles it has established for environmental conservation.
1. All business activities will be conducted in consideration of their possible impact on the environment. We will contribute tocooperation with stakeholders to the conservation of the environment, the prevention of pollution and the reduction of potential
environmental impacts, including efficient use of resources and taking appropriate steps to address climate change and protect
biodiversity and ecosystems, focusing on the four themes below.
（1）Compliance with international and local applicable environmental guidelines, laws and regulations, and agreed requirements;（2）Taking measures as necessary to reduce environmental impacts and prevent pollution, particularly in launching new projects
and altering existing projects;（3）Facilitating resource and energy conservation (mineral resources, food and water, etc.)*1, waste reduction, green procurement,
and increases in operational efficiency;*2（4）Promoting business projects, offering products and services, technical development and building social systems that help
protect and improve the environment.
2. In keeping with this Environmental Policy, the Marubeni Group’s Environmental Management System will be regularly reviewed to
improve our environmental performance, fully conscious of the importance to comply with its requirements.
3. This Environmental Policy will be shared with all Marubeni Group officers and employees, employees of the Group’s business partners,
and the public.
*1 “Energy conservation” in 1. (3) includes energy conservation in business facilities and logistics.
*2 The Marubeni Group will conduct appropriate maintenance for “resource and energy conservation, waste reduction” and “increases in operational efficiency”
in 1. (3).

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Five Environmental Objectives
The Marubeni Group pursues the five objectives below in accordance with the Marubeni Group Environmental Policy in order to help toprotect the environment and to reduce the environmental impact caused by its business activities.
・Thoroughly implement environmental considerations when promoting projects
・Expand initiatives with business partners who consider environmental aspects
・Promote environmental consideration among Group companies
・Promote environmental businesses
・Conserve energy and natural resources, and reduce waste

Policy on Mine Closures
The Marubeni Group understands the importance of reducing the impact on the environment and surrounding communities when closing
down mines. We use a local business entity to communicate with local communities and other stakeholders from the project planningstage, formulate a mine closure plan, conduct an environmental impact assessment, obtain environment-related authorizations from
regulatory agencies, carry out various types of monitoring necessary for maintaining those authorizations, and strive to minimize thesocial and environmental impact when the mine is decommissioned. We also start the necessary rehabilitation before mine closure tolessen the environmental impact after the mine closes.

Targets
Establishment of Environmental Targets
At the beginning of each ﬁscal year, Marubeni uses an Environmental Plan/Check Sheet to identify the issues speciﬁc to each businessgroup regarding environmental risk management, Group company administration, promotion of environmental business, conservation ofenergy and resource, prevention of pollution, and other such matters. Marubeni then establishes environmental targets for each businessgroup and works towards achieving them.

Structures and Systems
The Marubeni Group promotes environmental considerations in its own business operations under the leadership of the Environment
Committee chaired by the Chief Sustainable Development Officer. The Marubeni Group Environmental Policy was established in 1998 as
the embodiment of the Marubeni Group's firm commitment to environmental conservation.

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Marubeni Group EMS organization

Environmental Management System (ISO 14001)
Marubeni has introduced an environmental management system (EMS) based on ISO 14001 as a tool to assist all employees in addressing
environmental issues based on a common understanding. The PDCA cycle is used in our EMS to promote continuous improvement
through planning, implementation, operation, inspection, and management review of our environmental initiatives.
Based on the survey for FYE 3/2024 (as of October 2023), the status of Marubeni Group's acquisition of ISO 14001 environmental
management system is as follows:・Number of companies that have acquired ISO 14001 certification (including Marubeni Corporation)
56 out of 480 companies in Marubeni Group (11.7% of total Group)

The Marubeni Group Multi-site Certificated Subsidiaries
The Marubeni Group in this Policy includes Marubeni Corporation and the subsidiaries listed below：
・Marubeni Corporation
・Yamaboshiya Co., Ltd.
・Marubeni Information Systems Co., Ltd.
・Marubeni Chemix Corporation
・Marubeni Plax Corporation
・Marubeni Paper Recycle Co., Ltd.
・Marubeni Forest LinX Co., Ltd.
・Marubeni Power & Infrastructure Systems Corporation
・Marubeni Service Corporation
・Marubeni Real Estate Management Co., Ltd.
* We shall publish the Marubeni Group Multi-site Certificated Subsidiaries list together with the Marubeni Group Environmental Policy at all times.

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Initiatives
Assessment of Environmental Performance
Inspection
Each group at Marubeni formulates environmental action plans at the beginning of each ﬁscal year and self-checks its progress against
the plan in September and February using the Environmental Plan/Check Sheet.

External Audits
Our performance for ISO 14001 is subject to audits every year by LRQA Limited. Marubeni has continuously been certified in FYE 3/2023.
■ Flow of LRQA external audits
ISO 14001 certification expires in three years. We undergo ISO certificate renewal once every three years to confirm that the management
system has been maintained within the effective period.

Internal Audits
Internal environmental audits are conducted every year based on ISO 14001. In FYE 3/2023, audits were conducted on all BusinessGroups, Next Generation Business Development Division, General Affairs Dept., and four branches (Osaka, Chubu, Hokkaido, Kyushu).
The Sustainability Management Department forms an internal audit team, and personnel who have a qualification of internal auditor
verify whether the Company's environmental management system is properly operated through interviews and other appropriate means
with personnel in each group, department, or branch.
In addition to legal compliance with environment-related laws and regulations, we strive to prevent environmental risks by multifaceted
analysis on various aspects, such as the management at the point of change in each business.

Compliance with Environmental Laws and Regulations
Each department at Marubeni and subsidiaries list applicable environmental laws, regulations, standards, and rules, and perform periodic
reviews to ensure compliance with the regulatory requirements.
During FYE 3/2023, Marubeni conducted an assessment to determine whether its 94 departments and 127 Marubeni Group companies
were in compliance with the Waste Management and Public Cleansing Act.
Marubeni also conducted an e-learning training program on the Waste Management and Public Cleansing Act for all domestic employees,
including temporary employees. At the same time, training programs were held on the same topic at the Tokyo Head Ofﬁce and majordomestic branches (Osaka, Chubu, Hokkaido and Kyushu), where outside experts provided pertinent guidelines and information. 470
Marubeni Group employees in total participated in the training program. Likewise, the corresponding groups conducted more practicaland hands-on forms of training.
As a result of these and other initiatives, there were no serious violations of environmental laws or regulations by the Marubeni Group in
FYE 3/2023.

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Environmental Education and Training
Marubeni provides environmental education to its employees to help raise their awareness of relevant issues. In FYE 3/2023, Marubeni not
only distributed materials to relevant personnel under the name of “environmental training,” but also organized a variety of programs,
including environmental training designed for new employees. Other specific programs include: the Environmental Officers e-learning
Training Program and the ISO 14001 Internal Environmental Auditors Training Program.

Environmental Training Programs and Seminars in FYE 3/2023
Training Program/Seminar

Number of Participants

ISO 14001 Internal Environmental Auditors Training Program

77

Training Program on the Waste Management and Public Cleansing Act

470

E-learning Training Program on the Waste Management and Public Cleansing Act

2,251Group-speciﬁc Training Program on the Waste Management and Public Cleansing Act

211

Environmental Assessment of Development Projects andFinancing/Investment
From FYE 3/2021, we introduced a sustainability assessment tool to identify and assess different kinds of sustainability risks, not only
environmental risks but also social risks such as occupational health and safety and human rights.
Click here for more information on the introduction of our sustainability assessment tool

Promoting Environmental Consideration at Marubeni Group Companies
In an effort to reduce the environmental impact of our overall business operations, Marubeni Group companies are encouraged tosupport and join environmental conservation activities, which are designed in line with the Marubeni Group Environmental Policy. We also
monitor their ISO 14001 status, emergency response measures, and environmental management systems.
In addition, Marubeni Group companies are asked to ensure compliance with regulatory requirements and develop contingency plans for
emergencies.

Sustainability Data Survey
Aiming to reduce the environmental impact of its operations across the Group, the Marubeni Group conducts a survey-based annual
review of Marubeni Group companies' environmental performance.
This detailed assessment includes identiﬁcation and status conﬁrmation of elements within our operations that impact the environment,
applicable environmental laws and regulations, emergency response measures, and environmental problems.
Click here for more information on Environmental Data

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Internal and External Communications on Environmental Issues, including
Environmental Management Issues
In accordance with the Marubeni Group Environmental Policy, we are committed to and proactive in communicating both internally andexternally regarding environmental issues, including environmental management. We have held meetings with various stakeholders
specifically on sustainability and exchanged opinions on environmental issues including environmental management, as well as climatechange, biodiversity, human capital, supply chain management, human rights, occupational health and safety, etc. (15 meetings in FYE
3/2023). We will continue these efforts in the future.
Click here for more information on our Engagement with Stakeholders

Energy Conservation, Natural Resource Conservation, and Waste
Reduction Activities
Marubeni is working for climate change measures in accordance with the policies of Keidanren's Commitment to a Low Carbon Society.
The Company set the numerical targets to reduce energy usage (electricity and gas) by 10% or more at the Tokyo Head Office by FYE
3/2026 compared to FYE 3/2016. To achieve the numerical targets, the Company carries out initiatives such as introduction of energysaving equipment, etc.
The targets for its energy conservation, natural resource conservation, and waste reduction efforts to be achieved by FYE 3/2026 andresults are shown below.

Targets to be Achieved by FYE 3/2026
Targets in the FYE 3/2026

Results in the FYE 3/2023

Yearly targets: reduce annual average by 1% or more
Targets in the FYE 3/2026: Reduce energy usage by 10% ormore compared to FYE 3/2016

21.7% decrease from FYE 3/2016

50% or more decrease from FYE 3/2016

55.7% decrease from FYE 3/2016(3) Waste Recycling Rate at the Tokyo Head Office

70% or more

75.2%(4) Water Consumption at the Tokyo Head Office

50% decrease from FYE 3/2016

57.2% decrease from FYE 3/2016(1) Energy Consumption at the Tokyo Head Office(2) Waste Generation at the Tokyo Head Office* In September 2016, the Tokyo Head Office moved to a temporary location in Nihonbashi due to the reconstruction of its permanent headquarters. In May
2021, the Tokyo Head Office is relocated from Nihonbashi to Takebashi new building.
* Water Consumption includes Tap Water only.

Environmental Protection at the Tokyo Head Office and Tama Center
Marubeni is taking steps to address the Carbon Reduction Reporting Program based on the Tokyo Metropolitan Ordinance on
Environmental Preservation.
Tokyo Head Office
Marubeni had submitted plans to the Tokyo Metropolitan Government describing its measures to reduce CO2 emissions volume of theTokyo Head Office by approximately 17% from the reference value (average emissions from April 2002 to March 2005) during the five
years from April 2015 to March 2020. However, from FYE 3/2017, Marubeni has not submitted Carbon Reduction Reports after moving theTokyo Head Office to a temporary location in Nihonbashi in September 2016 (due to the reconstruction of its permanent headquarters)
and has submitted Carbon Reduction Reports of Specified Tenants, etc. to the Tokyo Metropolitan Government through the building
owner of its temporary location.

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Due to the relocation of the Tokyo Head Office submission of Carbon Reduction Report of Specified Tenants, etc. was not required for FYE
3/2021.
In conjunction with the completion of the new Head Office in February 2021, Marubeni submits the Carbon Reduction Reports startingfrom FYE 3/2023 to the Tokyo Metropolitan Government.
Tokyo Head Office: Past Submissions of Carbon Reduction Reports
Covering FYE 3/2011-FYE 3/2015

Submitted in November 2011

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2012

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2013

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2014

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2015

Covering FYE 3/2021-FYE 3/2025

Submitted in April 2023

Tokyo Head Office: Past Submissions of Carbon Reduction Reports of Specified Tenants, etc.
Covering FYE 3/2016-FYE 3/2020

Submitted in October 2017

Covering FYE 3/2016-FYE 3/2020

Submitted in October 2018

Covering FYE 3/2016-FYE 3/2020

Submitted in October 2019

Covering FYE 3/2016-FYE 3/2020

Submitted in November 2020

Tama Center
Marubeni submits plans to the Tokyo Metropolitan Government describing its measures to reduce the CO2 emissions volume of the Tama
Center, a training center managed by the Tokyo Head Office, by approximately 27% from the reference value (average emissions from April
2005 to March 2008) during the five years from April 2020 to March 2025.
The emissions volume in FYE 3/2023 was 2,382 metric tons of CO2, a decrease of approximately 80% compared to the reference value (theemissions volume was calculated based on estimated reference value of 11,831 metric tons of CO2.)
Tama Center: Past Submissions of Carbon Reduction Reports
Covering FYE 3/2011-FYE 3/2015

Submitted in November 2011

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2012

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2013

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2014

Covering FYE 3/2011-FYE 3/2015

Submitted in November 2015

Covering FYE 3/2016-FYE 3/2020

Submitted in November 2016

Covering FYE 3/2016-FYE 3/2020

Submitted in November 2017

Covering FYE 3/2016-FYE 3/2020

Submitted in November 2018

Covering FYE 3/2016-FYE 3/2020

Submitted in November 2019

Covering FYE 3/2016-FYE 3/2020

Submitted in September 2020

Covering FYE 3/2021-FYE 3/2025

Submitted in November 2021

Covering FYE 3/2021-FYE 3/2025

Submitted in November 2022

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Environment

Climate Change
PolicyDisclosure in Line with the Recommendations of the TCFD

Initiatives

Collaborating with Stakeholders

PolicyThe Marubeni Group recognizes climate change as a global and highly urgent social issue, and identifies it as one of its Environmental andSocial Materiality. In our Mid-Term Management Strategy GC2024, which we released in February 2022, we see “strengthening our green
business*1” and “promoting the greening in all our business domains” as core business for our growth. We aim to transform the total
environmental impact of its business activities to a positive one by contributing to low-carbon and decarbonization through our businessactivities while ourselves achieving net-zero GHG emissions.
*1 Green business: sustainable businesses which have positive effects on the environment such as decarbonization and the circular economy, and adjacentbusinesses which supply those businesses with non-substitutable materials, etc.

Environmental & Social Materiality＞Climate Change

The Marubeni Long-Term Vision on Climate Change: Towards Net-Zero GHG Emissions(Formulated in March 2021)
Marubeni Corporation (hereinafter, “Marubeni”), based on the Paris Agreement, recognizes the importance and urgency of limiting
the global average temperature increase by the end of this century to 1.5°C (hereinafter, the “1.5°C pathways”). For the purpose of
medium- and long-term contributions to measures addressing climate change, Marubeni has formulated a long-term vision on
climate change. In that vision Marubeni has set a goal to strive for net-zero GHG (greenhouse gas) emissions from the Group by
2050. To make the goal of net-zero GHG emissions by 2050 an effective one, Marubeni has formulated action plans to be
implemented heading towards 2030.
1. Net-Zero GHG Emissions by 2050
Marubeni will abate GHG emissions at a level consistent with the said 1.5℃ pathways. Any residual emissions that cannot be
abated will be neutralized (GHG elimination) through internationally recognized nature-based solutions (e.g., forests, farmland,etc.), or through technological solutions, with the aim of achieving net-zero GHG emissions by 2050.*1*1 Boundary of the net-zero GHG emissions:
Scope 1: Direct emissions from owned or controlled sources of Marubeni and its consolidated subsidiaries, such as through burning of fuel,industrial process, etc.
Scope 2: Indirect emissions from the generation of purchased energy consumed by Marubeni and its consolidated subsidiaries.
Scope 3, Category 15 (Investments): Among all other indirect emissions that occur in the Marubeni Group’s value chain, Scope 1 and Scope 2 forassociate investees account for using the equity method (hereinafter, “associate investees”).

Action Plans towards 2030
Marubeni has formulated the following action plans heading towards the year 2030 in order to make the goal of net-zero GHG
emissions by 2050 effectively.

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1）Halve the CO2 emissions of FYE 3/2020, about one million tons of CO2, emitted by Marubeni and its consolidated
subsidiaries (Scope 1 and Scope 2)
Marubeni has revised the targeted abatement figure released in September 2020(a 25% abatement from FYE 3/2019

levels by 2030) to make it at a more consistent level to the 1.5°C pathways, and will halve its total volume of emissions,which was about one million tons of CO2 in FYE 3/2020 by 2030.
2）Reduce by one fifth the CO2 emissions of the FYE 3/2020, about 36 million tons of CO2*2, emitted by associate investees ofthe Marubeni Group (Scope 3, Category 15 (Investments))*2

This emissions volume comprises the FYE 3/2020 performance of existing investees plus the estimated emissions from projects alreadycontracted at the current point in time (as for power generation projects, projects for which associate investees of the Marubeni Group
have entered into power purchase agreements but have not yet achieved commercial operations.)

Changes in the emissions volume associated with increased emissions from new investments and fluctuations in theemissions volume by plant load factors, as well as reductions in the emissions volume due to the utilization of newtechnologies (CCS*3, co-combustion of hydrogen and ammonia, etc.), are not included in the assumptions for the above
estimation. In the interest of meeting the needs of society as it makes the low-carbon transition, the development of new
gas-related projects such as gas-fired power generation businesses will continue. For aspects which could affect theemissions volume by associate investees going forward, we will monitor the progress of abatement of GHG emissions andconduct reviews thereof. In addition, we will continually perform studies with the aim of establishing milestones towards
net-zero GHG emissions by 2050 that are consistent with the 1.5°C pathways.
*3 CCS: Carbon dioxide Capture and Storage３）Move up the timetable to halve the net power generation capacity of our coal-fired power generation businesses
Based on our Business Policies Pertaining to Sustainability (In Relation to Our Coal-Fired Power Generation Business andRenewable Energy Generation Business) that Marubeni released in September 2018, and taking into account the progress
made so far in pulling out of coal-fired power generation, we will accelerate our goal of cutting our FYE 3/2019 coal-fired power
net generation capacity in half by 2030 to 2025, and aim for approximately 1.3 GW as our coal-fired power net generation
capacity in 2030 (included in the above reduction figure 2) for associate investees), and further, aim for zero by 2050.
４）Absorb and sequestrate CO2 through our forests
Marubeni will strive to expand the volume of carbon stocks in our forests (currently about 11 million tons of CO2
equivalents*4) and, at the same time, expand the sequestrated volume of carbon through the multi-purpose utilization ofafforested assets.
*4 By enlarging some of our plantation areas, improving stock volume per-unit area, and through the proper management of managed
forests, estimated volume of carbon stocks in our forests will be about 19 million tons of CO2 equivalents in 2030.

By executing these actions, by 2030 the Marubeni Group will try to abate its FYE 3/2020 emissions by one fifth over the total scope
covered by our net-zero GHG emissions goal. This plan was formulated to apply to the Marubeni Group’s business portfolio at thepresent time and is based on certain assumptions about current international recognition and foreseeable changes in system andtechnological innovations. Marubeni will revise them appropriately in light of any future changes to these premises.
2. Contributing to low-carbon/carbon-free goals through business activities
The Marubeni Group views the transition to low-carbon/carbon-free goals as a business opportunity, and will use its businessactivities to continue contributing to the abatement of GHG emissions that our society produces. In terms of contribution byenergy supply, Marubeni strives to construct the energy systems that will serve as the foundations for a decarbonized society,and in terms of energy demand, Marubeni will help other emitters to control/abate GHG emissions over a broad range ofindustries. Moreover, in the realm of land use, Marubeni will promote initiatives towards sustainable agri-input businesses andforest management.
For further details, please see The Marubeni Long-Term Vision on Climate Change[722KB].

The Marubeni Group aims to transform the total environmental impact of its business activities to a positive one by contributing to
low-carbon and decarbonization through its business activities while itself achieving net-zero GHG emissions.

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*The following policy was initially announced in September 2018 and updated based on the latest status as of July 2021.

Business Policies Pertaining to Our Coal-Fired Power Generation Business and Renewable
Energy Generation Business (Formulated in September 2018)
Marubeni Corporation (hereinafter, “Marubeni”) recognizes that climate change is a major issue shared by all of humanity. It is aproblem that threatens the co-existence of the global environment and society, a problem that has an enormous effect on
Marubeni’s business and its shareholders, and a problem that Marubeni believes must be dealt with swiftly. Therefore, as part of
Marubeni’s promotion of sustainable management, and in order to contribute to fight against global climate change, Marubeni hasestablished new business policies (hereinafter, “Policies”) regarding its coal-fired power generation business and its renewableenergy generation business.
1. The Process of Pulling Out of Coal-Fired Power Generation
As a global player in the power business, Marubeni will reduce its greenhouse gas emissions volume from its power
generation portfolio. By 2025, Marubeni will cut its FY2018 coal-fired power net generation capacity of approximately 3GW in
half, and aim for approximately 1.3GW as our coal-fired power net generation capacity in 2030, and further, aim for zero by
2050. *1 Additionally, Marubeni will deploy innovative technologies to increase the efficiency of its portfolio assets, andproactively promote the reduction of its environmental impact.
2. The Policy on New Coal-Fired Power Generation Business
Marubeni will no longer enter into any new coal-fired power generation business.
3. Proactive Involvement in Renewable Energy Generation BusinessLooking forward to the expansion of the renewable energy generation business, Marubeni will strive to expand the ratio of
power generated by renewable energy sources in its own net power supply from approximately 10% to approximately 20% by2023. Furthermore, Marubeni will contribute to the transition towards a low-carbon society by promoting the expansion of thehandled volume of renewable energy sources pertaining to energy trading. An example of this is SmartestEnergy Ltd.*2, awholly-owned subsidiary located in the United Kingdom that manages approximately 3GW of total energy, which is purchasedfrom independent generators; about 80% of that 3GW is generated by renewable energy sources.
Moving toward the achievement of these Policies, Marubeni will work to properly communicate and cooperate with its diverse
stakeholders, and also proactively disclose updates on Marubeni’s progress in reaching these goals. Additionally, given thechanges to the external environment, Marubeni will refer to the various international guidelines, beginning with the OECD Export
Credits Arrangement, diligently monitor measures taken by different countries in terms of coal-fired and renewable energy
generation business, as well as the international state of affairs, and use this information to periodically review and rework its own
policies from the standpoint of climate change counter measures.
In April 2018, Marubeni launched the Sustainability Management Committee (hereinafter, “the Committee”) under the supervisionof the President and CEO, with the aim to strengthen the company’s sustainability initiatives. Since its launch, and while soliciting
the opinions of external parties, the Committee has discussed a number of basic policies and measures pertaining to Marubeni’s
sustainability initiatives, beginning with identification and periodic review of the materiality. Policies and measures considered as aresult of these discussions will be announced as part of Marubeni’s ESG related data once it has been compiled.
*1 The Process of Pulling Out of Coal-Fired Power Generation is updated in line with the Marubeni Long-Term Vision on Climate Change: Towards NetZero GHG Emissions (formulated in March 2021).
*2 SmartestEnergy Ltd., established by Marubeni in the U.K. in 2001, purchases power from small to medium sized independent generators, and resells
on the wholesale market or to retail customers. https://www.smartestenergy.com/

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Disclosure in Line with the Recommendations of
the TCFD
Recognizing the importance of climate-related financial disclosures, the Marubeni Groupaffirmed the recommendations of the TCFD*2 in February 2019.
We are endeavoring to evaluate risks and opportunities engendered by climate change
and to enhance related disclosure. In addition, we joined TCFD Consortium*3 ofJapanese companies that affirm the recommendations of the TCFD.
*2 The Task Force on Climate-related Financial Disclosures (TCFD) was established by the Financial Stability Board (FSB).
*3 Click here to view the TCFD Consortium website

Click here to view the latest disclosure in Integrated Report 2023
・P.59 Sustainability Management[4.0MB], P.60 Climate Change (Disclosure in Line with the Recommendations of the TCFD)

・P.106 Scenario Analysis of Climate Change Risks and Opportunities in Line with the TCFD Recommendations

Click here to view the 2022 disclosure (September 2022)[4.0MB][1.2MB][374KB]

Initiatives
Initiatives for Renewable Energy Power Projects
In order to work toward a low-carbon society that mitigates the effects of climate change as part of sustainable development goals,
Marubeni is actively pursuing and expanding renewable energy power projects.*4*4 Renewable energy power generation currently accounts for approximately 15% of our net generation capacity as of March 2022. We will increase this toapproximately 20% by 2023.

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Initiatives for Solar, Wind and Biomass Power Generation
Throughout Japan, in addition to the development of micro-scale hydro-power generation projects, the Marubeni Group is actively
working on generation of renewable energy that contributes to conservation of the global environment and biodiversity.

Initiatives for Micro-Scale Hydro-Power Generation Business
The Marubeni Group considers micro-scale hydro-power generation as an important business area, and has been conducting operationsin this area through Group company, Mibugawa Power Company since 2006. As this business utilizes natural energy sources,consideration for the environment is essential, such as maintenance of water quality, reduction of waste materials, and conservation ofenergy, resources, and other local environment. The Marubeni Group aims to develop about 40 micro-scale hydro-power generation
facilities in Japan by 2025. Across Japan, we are actively working on generation of renewable energy that contributes to conservation of thelocal environment and biodiversity.
“Micro-scale hydro-power generation” is a term used to refer to small-scale hydropower generation operations with output of less than
1,000 kW. These operations do not require the use of dams or other facilities that entail large-scale construction projects, but rather
generate power by utilizing rivers or agricultural irrigation canals, thus minimizing the development footprint. The environmental impact
on water quality and the water habitat is exceptionally low, and there is no impact on land features or scenic beauty. Once up and running,these operations emit almost no CO2, thereby offering benefits in terms of minimal impact on biodiversity and environmental
conservation. Since it utilizes local water resources, it has the potential to be an effective technology to realize the production andconsumption of local energy, which will be beneficial for the independent development of the region. Moreover, to develop a power plantthat coexists with the local community, we are trying to realize the project with the understanding and cooperation of local organizationand people concerned through holding events on the theme of environment for residents, inviting lecturers, and deepening
understanding of the history of the planned site.
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In addition to the Mibugawa Power Station No.1 and No.2, the Marubeni Group currently operates the following micro-hydro power
generation facilities.

Producing power locally: Mibugawa Power
Company

Micro-scale hydro-power station (Hokuto City,
Yamanashi Prefecture)

Micro-Scale Hydro-Power Generation Facilities (as of March 2023)
Facility
Mibugawa Power Station No. 1

Location*5

Mibugawa Power Station No. 2*5

Approved Output
23,100kW

Ina, Nagano Prefecture

10,800kW

Mibugawa Power Station No. 3

260kW

Mibugawa Power Station No. 4

480kW

Tateshina Power Station

260kW

Tateshina Power Station No. 2
Tateshina Power Station No. 3

141kW
Chino, Nagano Prefecture

Tateshina Power Station No. 4
Shinmiyagawa Power Station

145kW
Komagane, Nagano Prefecture

Hokuto Nishizawa Power Station
Hokuto Kagoishi Power Station

Hokuto, Yamanashi Prefecture

Fujinomiya, Shizuoka Prefecture

Himenuma Power Station
Minochigawa Power Station

120kW
140kW

Shiroishi, Miyagi Prefecture

Hananosato Power Station
Banyagawa Power Station

230kW
200kW

Honmonji Power Station No.2
Shiroishi Power Station

195kW
220kW

Hokuto Kurabara Power Station
Honmonji Power Station No.1

93kW

95kW
175kW

Shimogo, Fukushima Prefecture

Inawashiro, Fukushima Prefecture

Hiroshima, Hiroshima Prefecture

Sagotani Power Station

150kW
160kW
180kW
108kW

Toyohira Power Station

Kitahiroshima, Hiroshima Prefecture

112kW

Tsukuyone Power Station

Wakasa, Tottori Prefecture

7,890kW

Oshika Power Station No.1

Misasa, Tottori Prefecture

3,700kW

Oshika Power Station No.2

Misasa, Tottori Prefecture

4,990kW

Hinogawa Power Station No.1

Hino, Tottori Prefecture

4,300kW

Hozawa Hotaru Power Plant

Yamagata, Yamagata Prefecture

170kW*5 Mibugawa No.1and No.2 Power Station fall under the category of medium hydraulic power generation.

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Coexistence with Local Community
Mibugawa Power Station has obtained Eco Action 21*6 certification, the first hydro-power facility to do so. Given that the intake of Power
Station No. 2, which is located at the highest elevation, is next to a quasi-national park, and the facilities of the Mibugawa Power Station
are in a region with high biodiversity value, we strive not only to avoid destruction of nature, but also to preserve it. As part of that effort,
in addition to conducting river cleanup activities and facility maintenance and emergency response training to be prepared for possible oilspills, Mibugawa Power Station takes measures for protection of biodiversity by conducting water quality inspections twice a year, not only
to determine whether pollutants are present, but also to check whether the water has the oxygen content required by living organisms.
The facility also welcomes local elementary and middle school students and over 100 residents each year for tours of the power station,and presents exhibits of hybrid power generation systems (wind, solar and hydro-power). These and other activities help educate people
about renewable energy and pass on the region’s traditional culture.
At the Hokuto City Murayamarokkamuraseki- Waterfarm*7, we use existing irrigation canals to supply renewable energy while making
appropriate adjustments to the volume of water used to ensure adequate supplies of irrigation water for farmland and water for household use.
At the micro-scale hydro-power station in Shiroishi City, Miyagi Prefecture, the elevation difference in water pipes of water supply facilities
is used to generate electricity with minimal impact on the surrounding environment.
In addition, in selling power through Marubeni Power Retail Corporation, we are helping to improve biodiversity by allocating a portion of
the electricity fees to forest maintenance and management.
M&C Tottori Hydro Power Co., Ltd. (hereafter, M&C Tottori Hydro Power) believes that building a trusting relationship throughcommunication with local residents is essential for the safe, secure, and stable operation of hydroelectric power generation projects. To
this end, M&C Tottori Hydro Power has appointed a “staff member in charge of community coexistence” and has made efforts to reflect
residents' opinions of its operations on its website. In addition, the company regularly communicates with local stakeholders, including six
local municipalities (Wakasa, Yazu, Kurayoshi, Misasa, Nichinan and Hino Town) and various councils on important issues related to theenvironmental impacts, e.g., on rivers, that may arise from construction, inspections, etc. Thanks to these initiatives, M&C Tottori Hydro
Power understands each municipality’s needs (including complaints) and business risks and incorporates them into its management
strategy.
In addition, M&C Tottori Hydro Power plans to offer on-site classes and work experience for elementary and junior high schools on thetheme of hydroelectric power generation projects. M&C Tottori Hydro Power contributes to the economic development of the region by
improving the knowledge of local residents and linking it to the development of the next generation of human resources.
Marubeni Clean Power Corporation (hereafter, “Marubeni Clean Power”) is “committed to solving local social issues and coexisting with local
communities and the natural environment.” Therefore, Marubeni Clean Power is developing renewable energies, mainly biomass, with theaim of realizing a “stable energy supply closely linked to the community.” As part of its business activities, Marubeni Clean Power is actively
involved in interactions with local stakeholders, such as local environmental fairs and beautification campaigns, conducting power plant tours
and distributing solar kits to local elementary school children, and participating in study sessions of the Chamber of Commerce and Industry.
Marubeni Clean Power participates in the “Biomass Power Association” (hereafter, the Association) as a regular member (Director Company)
and serves as its representative director. The Association, which was primarily established by power generation companies, promotes thebiomass power generation business and the sound development of the biomass industry, working to help build a sustainable, recyclingoriented society and foster global environmental conservation.
Marubeni Ina Mirai Denki Corporation*8 provides electric power retail and energy-related services in and around Ina City, Nagano
Prefecture, with the aim of offering services that address the challenges of daily life in the community. As part of its investment in thecommunity, the company has installed “quick chargers for cars,” which contribute to the local production and consumption of electricity.
The company is a member of the Sustainable Environment Subcommittee of the New Industrial Technology Promotion Council under thejurisdiction of Ina City, and it is taking the initiative to work together to build a sustainable environment, including a focus on issues suchas climate change and biodiversity.
The Marubeni Group's Mibugawa Power Company also operates a hydroelectric power generation business in the area. As a group, thecompany will contribute to sustainable regional development by building a business portfolio that helps build a society in harmony withthe local community.
*6 A system based on guidelines for environmental management systems and environmental reporting set by the Ministry of the Environment*7 The four micro-scale hydro-power stations at Murayamarokkamuraseki in Hokuto City (Hokuto Nishizawa Power Station, Hokuto Murayamarokkamuraseki
Hydro-power Station (municipally-owned), Hokuto Kagoishi Power Station and Hokuto Kurabara Power Station)*8 The company's shareholders are Marubeni Corporation (56%), Chubu Electric Power Miraiz Co., Inc. (34%), and Ina City (10%). The company has established asystem of monitoring against goals, deadlines, and results related to regional development through consultations among shareholders.

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Collaborating with Stakeholders
Initiatives for the Sequestration, Capture, and Storage of Carbon Dioxide
Marubeni is an investor in Japan CCS Co., Ltd., which was established in May 2008, in response to the Japanese government’s call for thedevelopment of CCS*9 technologies as a countermeasure to global warming. It was founded by major private-sector firms with expertisein CCS-related fields joining forces to meet the new demands. As a private-sector corporation that brings together and integrates CCS
technologies, the company conducts surveys on how to commercialize technologies for the separation, capture, transport, and geologicalstorage of CO2, as well as R&D and testing in these fields.
*9 CCS is an acronym for Carbon Capture and Storage and refers to the capture and storage of carbon dioxide (CO2). Specifically, it involves technologies for
capturing CO2 emitted by factories, power plants and the like before it is released into the atmosphere, transporting it to underground geological strata
suited to storing it, and storing it in a stable manner over long periods of time.

Large-Scale CCS Demonstration Project
Marubeni is working on a project to verify the establishment of an international supply chain to liquify hydrogen produced with unused
lignite (i.e. “brown coal”) from Victoria, Australia, and transport it to Japan. For the future commercialization of liquified hydrogen madewith this technology, it will be necessary to use CCS technologies to capture, and store the CO2 generated in the hydrogen production
process. In part because of this, Marubeni regularly visits the Tomakomai CCS Demonstration Project Center, which is a facility in the city ofTomakomai, Hokkaido, operated by Japan CCS Co., Ltd., to observe the work done there. The demonstration project has been runningfrom FY2012 to FY2019, and is slated to store a cumulative total of 300,000 tons of carbon dioxide underground.
Japan CCS Co., Ltd.
Shareholders

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Environment

Sustainable Forestry
PolicyInitiatives

PolicyForest Management Policy
1. Introduction
Marubeni Group (hereinafter the “Company”) promotes sustainable forest management by conducting fair and upright corporate
activities in accordance with the spirit of the Company Creed of “Fairness, Innovation and Harmony”. We recognize that forests are
renewable resources that provide various benefits for sustaining life on earth, and embrace economically viable forest management
methods with the aim of ensuring the prosperity of present and future generations.
We strive to contribute to the establishment of a circular economy by creating innovation in the utilization of forest resources andresponding to the society’s environmental needs that are becoming more diverse.
The Forest Management Policy (hereinafter the “Policy”) drives our commitments to sustainable forest management, the protection offorests with high conservation value (HCV*1) and the elimination of unregulated forest logging in our business activities. We, through our
focus on on-site operations, are able to create economic benefits and contribute to society by conducting sustainable forest management
through coexistence and co-prosperity with local communities, as well as supplying environmentally conscious wood resources that
respond to society's needs.

2. Scope of Application
The Policy applies to all woodchip and pulp manufacturing and forest plantation operations by Marubeni and its subsidiaries worldwide.

3. Commitments
We go beyond compliance in our commitments to sustainable forest management. Through this Policy, we reaffirm our commitment to comply
with all applicable laws and regulations relevant to forestry operations and seek to extend this obligation to our contractors and their employees.

（1）Natural Capital
In implementing sustainable forest management, we commit to the following guidelines on the principle of No Deforestation:
・Only handling wood resources managed in a sustainable and appropriate way.
・No conversion of natural forests in forest plantation developments.
・Proactively addressing protection of HCV forests in our forest management from the viewpoint of biodiversity conservation.
・No forest plantation operations in HCV forests or on peatland.
・Committing to a “No Burn Policy” that restricts the use of fire in forest plantation operations that can potentially cause forest fires intropical forest areas.
・Minimizing the impact of logging and related logging access roads construction on ecosystems.

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・Proactively addressing the protection of species at risk of extinction included in IUCN’s (International Union for Conservation of Nature
and Natural Resources) Red List of Threatened Species.
・Restricting the usage of alien species only to cases where impact is manageable.
・Following international best practices for soil management.
・Not using any pesticides classified as Class 1A/1B in the classification scheme of the WHO (World Health Organization), or any
substances regulated by the Rotterdam Convention and the Stockholm Convention as pesticides.
・Not using genetic modification technology in forest management.
・Effective utilization of trees damaged by natural disasters such as burned trees, fallen trees, drift wood etc.

（2）Social Capital
We commit to the social and economic development of the areas where we operate and seek to identify opportunities to create sharedvalues with local communities. We recognize the importance of land use rights for local communities and indigenous people and theirright to enjoy a fair share of the benefits obtainable from the commercial use of forest resources. Marubeni Group follows the principles
regarding human rights described in the Basic Policy on Human Rights, and conducts the following activities as a responsible party:
・Committing to provide a safe and productive work environment, and not tolerating any form for child labor, forced labor, discrimination,harassment or abuse.
・Following the principle of Free, Prior and Informed Consent (FPIC) when starting new forestry operations on the lands where indigenous
and local communities hold legal or customary rights.
・Establishing grievance and conflict resolution mechanisms compliant with international standards and the regulatory requirements of
the host countries of our forestry operations, as well as engaging in good-faith dialogue with stakeholders to resolve any issues.
・Actively carrying out stakeholder engagement on local, national and international scales.
・Respecting the rights of every worker.
We are contributing to economic and social development of areas where we operate through the following initiatives:
・Creating employment opportunities for local residents (priority allocation of contracts for forest plantation related work)
・Joint programs with local residents (Joint Forestry, Agriculture and Forest Products Harvesting Programs, etc.)
・Support activities for local residents (support for indigenous people, vocational training, disaster prevention drills, voluntary provision ofdaily necessities, etc.)
・Educational support (scholarships, construction or renovation and extension of schools, dispatching of teachers, operational support, etc.)
・Other community support (support for infrastructure equipment repair, sports events, etc.)（3）International Standards
We promote the main principles outlined in international standards relevant to the forestry industry (forest plantations, woodchips andpulp manufacturing) in our own operations as part of our commitment to sustainable forest management.

（4）Environmental and Social Risk Assessment
We conduct the necessary environmental and social risk assessment prior to the completion of land acquisitions or land developments for
new operations.

4. Governance（1）Implementation
The Policy is approved by Marubeni’s Board of Directors. Oversight of the Policy is by the Chairperson of Sustainability Management
Committee with implementation by the Business Group.

（2）Links to Other Policies
The Policy complements other sustainability related policies of the Company including the Basic Policy on Human Rights and Basic Supply
Chain Sustainability Policy.
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（3）Policy Management
We will review the Policy at least once a year, or as new information and knowledge becomes available, in ways that are consistent with
our objectives of sustainable forest management.

（4）Certification Audit and Monitoring
We hold international certification for sustainable forest management and CoC (Chain of Custody) certification to manage distribution andprocessing. As a result, accredited bodies conduct regular auditing and monitoring of these certifications.

（5）Information Disclosure
In addition to increasing the transparency of our business activities, we are committed to disclose information on our approach tosustainable forest management on the Company website etc.
*1 HCV forests are forests that have a High Conservation Value in social, cultural and or environmental terms.

Procurement Policy (Forest-derived Products)
1. Introduction
The Marubeni Group (hereinafter referred to as “we”) conducts fair and upright corporate activities in accordance with the spirit of its
Company Creed of "Fairness, Innovation and Harmony" and strives to build a sustainable society together with its business partners inline with the "Basic Supply Chain Sustainability Policy."
We have established the Product Procurement Policy (Forest-derived Products) (hereinafter referred to as the “Policy”) to promote theprocurement of timber and related products produced from appropriately managed forests, thereby realizing the sustainable use of forest
resources.
This Policy has been approved by Marubeni’s Board of Directors. The Chairperson of the Sustainability Management Committee oversees
the Policy, and the Business Group is in charge of its effective implementation. We undertake to review this Policy at least annually andrevise it as necessary.

2. Scope
This Policy applies to the trading of timber and related products by Marubeni and its subsidiaries worldwide. Specifically, it covers logs,
woodchips (including fuel woodchips), pulp, and paper and paperboard products (hereinafter referred to as "procured products").

3. Commitment
In cooperation with suppliers and customers, we are committed to ensuring the traceability of procured products while conducting our
procurement activities in accordance with the Basic Supply Chain Sustainability Policy and the following principles.
(1) No handling of procured products produced from illegally logged timber.
(2) No handling of products procured from suppliers involved in serious environmental and social controversies, such as the destructionof forests with high conservation value.
(3) No handling of procured products produced from genetically modified wood.
(4) Promoting the handling of procured products that have been certified under a reliable international forest certification system.
In order to promote this Policy, we will investigate the environmental and social considerations of suppliers as well as their compliancewith laws and regulations. In the event that any non-compliance with this Policy is discovered, consultations and requests for
improvement measures will be made. If the non-compliant supplier does not improve, we will review our business relationship with therelevant supplier.
We will regularly disclose information on this Policy. We are committed to promoting to society the sustainable use of forest resources
through appropriate communication with our suppliers and customers and other stakeholders.
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Initiatives
Forest Management and Forestry Certification at Marubeni Group
The Marubeni Group currently owns forest plantation businesses in the two countries of Indonesia andAustralia with a total of approximately 130,000 hectares of tree plantable land (the total work area isapproximately 300,000 hectares). Using a controlled cycle of planting, cultivation and management andharvesting focused on eucalyptus hardwoods that mature quickly in 6-10 years, we provide a stable andsustainable supply of wood resources for pulp and paper production. Based on the principle of No
Deforestation, our sustainable forestry management practices prioritize natural and social capital by
not harvesting natural forests. We also undertake proactive programs jointly with local communities.

Group Company

PT. Musi Hutan Persada (MHP)

Location

Forestry certification

Nature of business
Forest plantation
businessIndonesia

Forest plantation business inIndonesia (MHP)

Indonesian Forestry Certification Cooperation*1
・Sustainable Forest Management certification
FSC®certification*3
・FM (Forest Management) certification

WA Plantation Resources Pty., Ltd.
(WAPRES)

Forest plantation/
woodchips production
business

Australia

・CoC (Chain of Custody, processing/distribution processes)
certification
Responsible Wood*4
・Sustainable Forest Management certification

The Marubeni Group’s Forest management is operated in accordance with standards established by forest certification systems. In MHP,
which operates the forest plantation business in Indonesia, wood harvested from the plantation managed by MHP is supplied as 100%
certified wood as of March 31, 2023.
The Marubeni Group will continue to manage the supply chain for manufacturing pulp and paper in a sustainable manner*5.
*1 Indonesian Forestry Certification Cooperation is a forest certification system in Indonesia endorsed and mutually recognized under the PEFC*2.
*2 The Programme for the Endorsement of Forest Certification (PEFC) is an international system for forest certification that is based on a framework for mutual
recognition of national forestry certification schemes. (PEFC/31-32-80)*3 The Forest Stewardship Council® (FSC®) is a non-profit organization that operates an international forest certification scheme with the aim of promoting theworldwide adoption of responsible forest management practices. (FSC® C016260)*4 Responsible Wood is an Australian forest certification scheme endorsed and mutually recognized under the PEFC*2.
*5 The Marubeni Group has businesses that span the pulp and paper supply chain.

(Consolidated subsidiaries)
Group Company

Location

Nature of business

PT. Tanjungenim Lestari Pulp and Paper (TEL)

Indonesia

Production and sale of wood pulp

Koa Kogyo Co., Ltd.

Japan

Manufacturing and sales of containerboard and printing paper

Fukuyama Paper Co., Ltd.

Japan

Manufacturing and sales of corrugating medium and paper tubes

Kraft of Asia Paperboard & Packaging Co., Ltd

Vietnam

Manufacturing and sales of containerboard

Marubeni Forest LinX Co., Ltd.

Japan

Paper, chemical products, and paper products wholesale business

Marubeni Paper Recycle Co., Ltd.

Japan

Paper recycling business(As of April 2023)

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Initiatives toward Forest-derived Products
Due Diligence
To ensure the procurement of products in accordance with the Procurement Policy (Forest-derived Products), Marubeni conducts due
diligence (hereinafter “DD”) on the suppliers’ status of compliance with laws, respect for human rights, preservation of the environment,
fair trade, health and safety, etc. Results of the DD in FYE 3/2023 showed that of the 607 suppliers of timber and related products, the 132
major suppliers (with an annual turnover of 100 million yen or more) exhibited no significant problems within the scope of the DD. Thissurvey covered 96% of Marubeni’s annual turnover of forest-derived products. We have been gradually expanding the scope of DD since
FYE 3/2020, and we will strive for more sustainable utilization of forest resources by conducting DD of high-impact suppliers.

Our target and aim
Through the due diligence on suppliers of forest-derived products, the Marubeni Group will consider the protection of natural forests andthe sustainable use of forest resources and will promote initiatives aimed at ensuring that new and existing suppliers are aware of andcomply with the Group's Procurement Policy (Forest-derived products) and that traceability of procured products is ensured.

Overview of the FYE 3/2023 Survey■Applicable items and transactions of related products
The survey covered the four items based on the Procurement Policy (Forest-derived Products), i.e., logs, woodchips (including fuelwoodchips), pulp, and paper / paperboard products, which correspond to the timber and related products handled by the Group.
■Selection of applicable suppliers and implementation method
A 3-step process has been set up in consideration of the impact on Marubeni’s business and sustainability-related risks.
① First stage of DD: Internal preliminary survey
We first selected the 132 major suppliers (with an annual turnover of 100 million yen or more) out of our 607 suppliers of timber andrelated products. Of these 132 suppliers, 8 companies handling products other than certified wood from an entity which has acquired
forest certification (FSC*1 certification, PEFC*2 certification, and certified wood under a mutual certification agreement with PEFC) andcontrolled wood based on a forest certification system (FSC controlled wood*3, PEFC controlled sources*4, and controlled wood based on acertification system under a mutual certification agreement with PEFC), which were found to be in need of undergoing a sustainability
questionnaire survey by Marubeni, were identified as subjects for the second stage of DD. From FYE 3/2020 to FYE 3/2023, 41 companies
were identified as the subjects for the second stage of DD.
② Second stage of DD: Sustainability questionnaire survey
A sustainability questionnaire survey was conducted on the 8 companies identified in the first stage of DD. As a result, no significant
problems were confirmed with these 8 companies.
③ Third stage of DD: Detailed onsite inspection
Suppliers whose status of compliance with laws, respect for human rights, preservation of the environment, fair trade, health and safety,
etc. could not be sufficiently confirmed are subject to a detailed onsite inspection. If these suppliers do not undertake measures tomitigate the risks identified in the survey, Marubeni would consider reevaluating these transactions. In FYE 3/2023, no suppliers wereidentified as requiring the third stage of DD.

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*1 Certification by the FSC® (Forest Stewardship Council®) (FSC® C016260): An NPO established to promote responsible forestry around the world and operates
systems of international forest certification.
*2 Certification by PEFC (The Programme for the Endorsement of Forest Certification): An international forest certification system, which endorses mutual
recognition of forest certification systems of various countries.
*3 FSC controlled wood: While not FSC certified wood, FSC controlled wood is timber, which may be combined with FSC certified wood to manufacture FSC
certified wood. Compliance of FSC controlled wood must be confirmed based on the criteria for FSC controlled wood.
*4 PEFC controlled sources: While not PEFC certified wood, PEFC controlled sources are timber, which may be combined with PEFC certified wood tomanufacture FSC certified wood. Compliance of PEFC controlled sources must be confirmed based on the criteria for PEFC controlled sources.

Forestry-related BusinessInitiatives for Cellulose Nanofiber (CNF)
In 2017, Marubeni established a CNF Business Incubation Section to cultivate markets, to develop and sell products using CNF materials
together with our partner, Chuetsu Pulp & Paper Co., Ltd.*1
CNF is a processed wood fiber (pulp) that is micro-refined to a nanometer (a nanometer is one billionth of a meter) in size, which has morethan five times the strength of steel while weighing only one-fifth as much as steel. Although the material is made from plants, arenewable resource, CNF has a variety of potential to be used in such as automobiles, home electric appliances, cosmetics, and we havealready supplied it for audio devices and sports equipment like table tennis rackets.
In August 2020, we have begun to sell a composite resin with enhanced strength impact using CNF. It is expected that the product will be
put to practical use in the automotive industry and various other industrial fields.
We will continue to develop and supply new eco-friendly materials to the market*2.
*1 Chuetsu Pulp & Paper Co., Ltd https://www.chuetsu-pulp.co.jp/ (Japanese Only)
Marubeni and Chuetsu sign Memorandum of Understanding for developing application and sales of cellulose nanofiber*2

Notice Regarding the Launch of Cellulose Nanofiber-based Environment Improvement Material Sales for Hen House
Start of Test Sales of Agricultural Materials Using Cellulose Nanofibers
Commencement of Sales of Raw Materials for Cosmetics Applications Using Cellulose Nanofibers

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[107KB][608KB]

Initiatives for Reducing Environmental Impact (Koa Kogyo)
As a resource conservation measure, Marubeni’s consolidated subsidiary Koa Kogyo Co., Ltd. is working to reduce the amount of water
resources it uses in the production process.
Since large quantities of water are needed in papermaking operations, Koa Kogyo secures the necessary water from both industrial andwell water sources and recycles water in the manufacturing process. In wastewater, strict water quality standards are met by using
activated sludge tanks to reduce chemical oxygen demand (COD) and biochemical oxygen demand (BOD) and by purifying water.
Koa Kogyo is also working to reduce waste volume. By pulping wastepaper using a high-consistency pulper, Koa Kogyo can recycle paper thatwas previously incinerated because it could not be processed. Furthermore, all combustible garbage is disposed of utilizing high-temperatureincinerators, and the thermal energy is recovered and used for thermal recycling. Because it processes waste at high temperatures of 900–
1,000°C, this incinerator emits virtually no toxic dioxins and meets environmental standards for NOx, SOx and CO2 emissions.
In addition, Koa Kogyo collects wastepaper and office waste to be recycled and reused as paperboard. By doing so, the company has
established a closed recycling system with customers and is reducing the burden on the environment.
Click here to view Koa Kogyo’s environmental initiatives (Japanese only)

Initiatives to Expand the Volume of Carbon Stocks and Create Negative
Emissions in Forestry Business
Conclusion of a Strategic Partnership Agreement for an Afforestation Project in Indonesia, Nippon
Paper Industries Co., Ltd. and Our Plantation Company, PT. MHP
In March 2022, Marubeni Corporation and Nippon Paper Industries Co., Ltd. signed a strategic partnership agreement aimed at increasing
forest growing stock through Nippon Paper Industries’ technical guidance to PT. MHP, an Indonesian plantation company wholly owned byMarubeni Corporation.
Under the terms of the agreement, Marubeni will accept support and guidance on Nippon Paper Industries’ proprietary afforestation
technologies, including genetic analysis technology and breeding/propagation technology, pulp material evaluation technology, andplantation management know-how, in order to improve forest stock per unit area in PT. MHP.
Click here to view more details on our initiatives[647KB]

Indonesia/PT. TEL Decarbonization Project
Marubeni signed a memorandum of understanding (MOU) in February 2022 with PT. Pertamina (Persero), an Indonesian state-owned oilcompany, for the joint development of decarbonization projects in Indonesia.
Through this MOU, we will work on the joint development of a wide range of decarbonization projects, including a biomass-derived
carbon dioxide capture and storage business generated by PT. TEL, our pulp manufacturing company in Indonesia, the so-called
Bioenergy with Carbon Capture and Storage, or ’BECCS’, project, the creation of carbon credits, and the utilization of biomass resources.
Click here to view more details on our initiatives

Consideration of Forest Management and Afforestation Projects Aiming for Carbon Dioxide
Sequestration
With an eye on the development, dissemination, and market expansion of forest-derived carbon credit programs, we have begun
considering industrial and environmentally-conscious afforestation projects through reforestation. In the Philippines and Angola, we areworking to establish carbon credit programs through carbon dioxide sequestration.
Click here to view initiatives in the Philippines
Click here to view initiatives in Angola
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Environment

Conservation of Biodiversity and Habitats
PolicyStructures and Systems

Initiatives

PolicyOur Views on Biodiversity
The Marubeni Group is expanding its business on a global level in a wide range of fields. We recognize that each of our business streams
have some degree of impact on the natural environment and biodiversity, and that all businesses benefit from nature. As stated in the
Marubeni Group Environmental Policy, the Marubeni Group will endeavor to protect biodiversity and ecosystems, and contribute toconservation of biodiversity, which is an urgent issue in the world along with climate change.
Click here to view Marubeni Group Environmental Policy
At the 15th Meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15 Part Two) held in Montreal, Canada
in December 2022, the “Kunming-Montreal Global Biodiversity Framework” was adopted as a new global goal and companies are expected
to take actions toward “living in harmony with nature” and “nature positive” (net positive biodiversity impact). We will contribute to “living
in harmony with nature” by implementing the “Green Strategy”, which is the basic policy of our Mid-Term Management Strategy GC2024.
Click here to view Mid-Term Management Strategy GC2024
As a practical implementation of the Marubeni Group Environmental Policy, we confirm the impact of new business projects on natural
ecosystems in advance. Using our own sustainability assessment tool, we check whether the project site is located in the vicinity of anature reserve or national park, whether the project itself will have an impact on the ecosystem, and whether the topography andgeological structure of the land, including the area surrounding the project site, will be altered significantly as a result of project
implementation.

Structures and Systems
Click here to view Organization for Marubeni Group's Sustainability including Conservation of Biodiversity

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Initiatives
Conservation of Biodiversity and Habitats
Asian Waterbird Census
TeaM Energy Foundation, Inc. (TEFI)

was established to handle the CSR activities of TeaM Energy

Corporation (TeaM Energy), an independent power producer in the Philippines in which Marubeni owns
a 50% stake. In cooperation with the Wild Bird Club of the Philippines (WBCP)
Environment and Natural Resources

and the Department of, TEFI has participated in the Asian Waterbird Census, an Asian

aquatic bird population survey conducted by the international NGO “Wetlands International”, every

year since 2010, and collects data on waterbirds within a 10-kilometer radius of the Pagbilao and Sual
power stations, which are owned and operated by TeaM Energy. The survey has confirmed that theenvironmental impact on the neighborhoods around the power stations is low, and a healthy
environment is being maintained.
The areas around the Pagbilao and Sual power stations are sanctuaries of the Philippine duck (Anasluzonica), an endemic species of the Philippines that is designated as “vulnerable” in the IUCNRed

List of Threatened Species 2014 issued by the International Union for Conservation of Nature. The sitesof the power stations are resting spots for many other birds, including migratory birds.
TEFI takes steps to safeguard the habitat of these birds through noise reduction measures, limitations
on development, and habitat relocation in the event of development.
During the pandemic from 2020 to 2022, TEFI held off its bird watching activities with WBCP. Sual Power
Station and Pagbilao Power Station have separate monitoring surveys conducted by external parties.

Anas luzonica or Philippine
duck and Lonchura oryzivora
or Java sparrow photographedfrom monitoring stations,
within and outside Pagbilao
Power Station.

In a survey conducted in 2021 in Sual Power Station, a total of 1,056 bird individuals in 56 species and 34 families were recorded.
Three threatened birds were recorded in 2021: Lonchura oryzivora or Java sparrow, Streptopelia bitorquata or Island collared dove, andAnas luzonica or Philippine duck.
For Anas Luzonica or Philippine Duck, 260 were recorded in the 1st semiannual report and 60 for the 2nd semiannual report, utilizing the
man-made lagoons in the area.
There were no additional species recorded, with the overall total of recorded birds remaining at 129 species. However, recurrence of
Motacilla cinerea or Grey wagtail and Orthotomus derbianus or Grey-backed tailorbird were noted. The former was last observed in 2011
while the latter was in 2015.
In a survey conducted in 2021 in Pagbilao Power Station, nine species are breeding residents.
Nine of 18 species are associated with non-forest to forest habitats. Only one threatened species, Anas luzonica, was recorded, while 16
are classified as Least Concern by IUCN.
Other than Pagbilao Power Station, monitoring is also conducted in three other locations: 1) Binahaan Watershed Forest Reserve, 2)Binahaan Mangrove Forest and 3) Danlagan Mangrove Forest.
Across the 4 locations, 584 individuals of 39 bird species were recorded.

Afforestation Program
TEFI is carrying out projects to plant acacia and other tree varieties at its Pagbilao and Sual power
stations since 2001 in partnership with neighboring communities as well as NGOs such as Sioasio East
Forest Developers Association. The average survival rate of the saplings planted in Sioasio is 96.5% (asof March 2023). To date, approximately 100 hectares at Sual and 328 hectares at Pagbilao have beenplanted and are being maintained since 2001.
In 2021, Pagbilao Power Station planted a total of 300 native trees within 4,806 ㎡of station premises
where employee volunteers planted seedlings of Agoho, Narra and Talisay.
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Afforested area

TeaM Sual Corporation on the other hand has been rehabilitating the coast of Barangay Baquioen of Sual through annual mangrove
planting and maintenance for the past five years.
In 2021, Sual Power Station employee volunteers together with representatives of Baquioen Barangay Government unit in attendance
planted 3,000 mangrove seedlings along the coast of Barangay Baquioen in Sual.
In 2022, 2,000 mangrove seedlings were planted in that area with employee volunteers, and representatives from the same government
unit, the local school, and contractors.
In 2022, TEFI, with an external partner and members of the local community, planted 21,000 mangrove propagules in Barangays Victoria
and Pilar, both in the Santiago Island of Bolinao town, Pangasinan; this is under TEFI's Project CATCH ME (Community AllianceTransforming Coast Habitat and Mangrove Ecosystem).
Until the ownership of Sual and Pagbilao power stations are transferred to the state-run power company from 2024 through 2025,
Marubeni will continue to support the protection and maintenance of a total of about 144,000 hectares of natural forests where TEFI has
been carrying out conservation and afforestation, as well as at other activity areas, with the goal to protect biodiversity and to foster
forest preservation.

Tree Planting Activities to Reduce and Restore Negative Impacts on Biodiversity
Maynilad Water Services, Inc. (Maynilad), a Marubeni Group company engaged in water supply and sewerage services in Metropolitan
Manila, has planted more than 219,000 mangrove propagules in the coastal area for the purpose of land conservation (including
conservation of species), reduction of negative impacts caused by the population growth, and recovery. This activity employs fishermen insome areas and provides them with additional income opportunities. With the support of the country's government agencies (such as the
Department of Environment and Natural Resources and local government entities), businesses, and volunteers, the company also
arranges events to educate people on responsible water consumption and proper wastewater management. Together with our
stakeholders, Maynilad will continue to invest in local communities through tree planting activities to conserve ecosystems, prevent
flooding, provide high-quality water and operate the sustainable water business.

Engagement to Reduce Loss of Biodiversity
Forest Conservation Activities and Providing Livelihoods to Indigenous People
Since 2010, TEFI has had various activities in implementing a Community Carbon Pools Program (C2P2)
in the municipality of General Nakar in the province of Quezon, in cooperation with the Philippine
Department of Environment and Natural Resources, local residents, and international and local NGOs.
TEFI conducted training and provided funding to a honey manufacturing facility powered by solar
energy. In addition to honey, the communities of General Nakar produce resin, food and other nontimber products and also engage in textile dyeing and tea harvesting.

Forest conservation activities

These activities provided livelihood intended to improve living standards for 34 tribal communities andover 2,000 local residents, and to help preserve about 144,000 hectares of forest and prevent
deforestation. They also contribute to the reduction of GHG emissions caused by deforestation, thelong-term conservation of forests, and the promotion of carbon storage with forests.
Interaction with local residents

Products and honey produced

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Contribution to Sustainable Forest Management and Biodiversity Conservation Through Engagementwith the State Government of Western Australia
WA Plantation Resources Pty., Ltd. (“WAPRES”), an Australian plantation and woodchip business wholly owned by Marubeni Corporation,
has been engaging with the local government to comply with local laws and regulations, including the Environment Protection andBiodiversity Conservation Act 1999 (as amended), and has obtained international sustainable forest certifications.
Click here to view Forest Management and Forestry Certification at Marubeni Group
WAPRES believes that sustainable forest management contributes to the conservation of biodiversity, and will continue such businessactivities.

Contributing to Biodiversity Conservation Through a Desalination and Water Transmission Project inChile
In connection with the desalination and water transmission project for Corporación Nacional del Cobre de Chile (CODELCO) (the “Project”),
prior to participating in the Project we identified the potential impacts on biodiversity, and took measures to avoid and reduce negative
impacts.
Click here to view Conclusion of a Loan Agreement and Start of Construction under a Long-Term Water Sale Agreement for a
Desalination and Water Transmission Project for the National Copper Corporation of Chile
Conducting Due DiligencePart of the proposed site of the Project falls within a priority conservation area for the Eriosyce Laui, a species of cactus that is listed as anendangered species (“EL cactus”). Therefore, in order to conserve the species, prior to our participation in the Project an external expert was
retained to conduct due diligence to determine whether the EL cactus is present at the proposed construction site in the priority conservation
area and the status of its habitat. As a result, it was confirmed that the EL cactus is not present at the proposed construction site.
Formulation of Biodiversity Action Plan (BAP) and Biodiversity Management Plan (BMP)In this Project, a Biodiversity Action Plan (BAP) was developed by identifying areas with sites, species, and functions of particularimportance for conservation. Detailed surveys of the relevant areas are conducted by experts, and the results are reflected in the
Biodiversity Management Plan (BMP), which is continuously monitored (audited) in order to conserve biodiversity.

Entry into the Salmon Farming Business via Recirculating Aquaculture
SystemResponding to the Rising Global Demand for Marine Products
The improvement of living standards in the developing countries and growing health consciousness in the developed countries haveresulted in the yearly increase in the global demand for marine products. Nevertheless, as the fish catch from fisheries has remained
stable for the past 30 years, aquaculture has taken on an increasing significance. Within this field, in the sub-industry of salmon farming,
which has been geographically limited due to the scarcity of coastal regions that are suited to seawater culture, expectations are especiallyhigh for the growth of land-based salmon farming through the use of a Recirculating Aquaculture System (hereinafter “RAS”*1), which is
not limited by geographical conditions.
*1 A Recirculating Aquaculture System (RAS) is a farming method that filters and circulates 90% or more of the water used in an enclosed, land-based facility.
Given that water temperature, water quality, and other conditions are controlled within the facility, it is minimally impacted by outside factors.

In April 2020, Marubeni, jointly with Nissui Europe B.V., acquired shares of Danish Salmon A/S (hereinafter “DS”), a globally top-ranked
company with a track record in RAS production. Marubeni will meet the growing global demand for marine products through DS, one of
the few companies to have established manufacturing expertise and technology in this field.
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Contribution to Sustainability
RAS has minimal impact on the surrounding environment and the ecosystem, as it uses and recirculates water within an enclosed facility,
thereby reducing water pollution and the risk of escaping farmed fish. RAS also has an established control framework and is thus capableof retaining records, making it a farming method that supports traceability. It is also being regarded as a viable method of effectively
resolving future shortages in protein supply which may occur in conjunction with the growing global population.
Marubeni is ready to contribute to the resolution of social problems by not only meeting the growing global demand for marine products
but also providing a stable supply of environmentally-friendly marine products.

The mechanism of RAS farming

The Handling of RSPO/ISCC Certified Products
Roughly 30% of the palm oil and palm oil derivative products handled by our subsidiary Pasternak, Baum & Co., Inc. are RSPO/ISCC/RFA
certified products. We are doing our part to promote such certified products by responding to the needs of our environmentally conscious
customers.

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Environment

Water Management
PolicyInitiatives

PolicyRecognition of Water Resources
The earth’s water resources are said to be about 97.5% seawater, with only 2.5% fresh water that can be used for farming and drinking.
And about 99% of that fresh water is contained in ice in places like the Antarctic, so there is very little fresh water available for direct use.
Through its businesses across the world, Marubeni recognizes that developed countries are able to fully enjoy these finite water
resources, while other countries do not even have adequate wells, and this regional imbalance is a major problem. Future water shortages
are also anticipated, accompanying increases in world population and economic growth in the developing countries. The effective use ofwater resources is a global issue, and the international society is starting to take actions.
Click here to view the Water Action Decade

Water Resources Policy
Based on the Marubeni Group Environmental Policy, the Marubeni Group recognizes that energy and resources, including water, are finite,
and take measures to ensure their effective and efficient use.
In the Marubeni Group Environmental Policy, we clearly state our commitment to using energy and resources, including water, efficiently.
By reducing water usage through promotion of efficient use and recycling of water, and by providing stable supplies of water resources
through effective water and sewerage operation and power and desalination projects, we will continue to contribute to the environmentand communities and to resolving water-related social issues.
Click here to view Marubeni Group Environmental Policy

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Initiatives
Formulation of the Marubeni Group’s Water Management Plan
As of March 31, 2023, 39 (18%) of the 216 Marubeni Group companies had established water management plans. (Of the 2,395 operationsites covered by the “Sustainability Data survey”, 290 operation sites that account for 12%, had established water management plans.)
These companies monitor and manage the amount of water withdrawal, wastewater, and recycled water, as well as quality andtemperature of wastewater, and take measures to use water resources effectively and reduce their environmental impact.
Koa Kogyo Co., Ltd., for example, uses water efficiently in production processes, and sets and manages standards for the amount of fresh
water used in each department, as part of its efforts to conserve resources.
Since large quantities of water are needed in papermaking operations, Koa Kogyo secures the necessary water from both industrial andwell water sources and recycles water in the manufacturing process. In wastewater, strict water quality standards are met by using
activated sludge tanks to reduce chemical oxygen demand (COD) and biochemical oxygen demand (BOD) and by purifying water.
Click here to view Koa Kogyo’s initiatives (Japanese only)
Another example, The Nisshin OilliO Group, Ltd. has set the target of reducing water consumption (tap water and industrial water)
intensity at its four production bases in Japan in the fiscal year ending March 31, 2031 by 16% compared to the fiscal year ended March 31,
2017, and is implementing reduction measures and progress management to meet that goal.
Click here to view Nisshin OilliO’s initiatives (Japanese only)

Initiatives in Water-Stressed Regions
The Marubeni Group owns and operates four IWPP*1 projects and one IWP*2 project in Middle East. In
total, 539 million imperial gallons of desalination water per day are produced by those desalination
plants, helping to reduce stress on the region’s water resources.
For example, the Taweelah B power and desalination complex, located 80 kilometers northeast of Abu
Dhabi, which we built and operate, has generation capacity of 2,000 megawatts of electricity and 160
million imperial gallons of water per day. To meet increased water demand resulting from economic
development and population growth, the Marubeni Group is selling electricity and water for 20-25 years
to the state-owned utility, Emirates Water & Electricity Company. Water from the plant is used for tap
water (household and commercial), agriculture, industry and other applications, and helps to relievestress on water resources. (To prevent exacerbation of the region’s water stress, machinery coolingwater and other water used in the Marubeni Group’s business operations is produced at thedesalination plant.)

Taweelah B Power &Desalination Complex

IWPP Projects and IWP Project in Middle East (as of March 31, 2023)
Project

Gross Desalination Capacity (Million imperial gallons per day)Taweelah A2

50

Taweelah B

160

Fujairah F2

130

Shuweihat S2

100

Shuqaiq 399*1 IWPP: Independent Water and Power Producer*2 IWP: Independent Water Producer

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Working with External Partners to Reduce Water Use
Desalination and Water Transmission Project in Chile
Through a special purpose company established together with Transelec Holdings Rentas Limitada, a major power transmission company
in the Republic of Chile, we are participating in a desalination and water transmission project for Corporación Nacional del Cobre de Chile(“CODELCO”) (hereafter, the “Project”).
Click here to view Conclusion of a Loan Agreement and Start of Construction under a Long-Term Water Sale Agreement for a
Desalination and Water Transmission Project for the National Copper Corporation of Chile
The Project is the first large-scale seawater desalination and water transmission project in Chile using reverse osmosis (RO) membranes*3.
The Project will construct a desalination plant in western Chile to pump seawater from the Pacific Ocean and supply water needed forcopper mining and other operations, thereby contributing to reducing water withdrawal from water-stressed areas where water
shortages are a concern.
*3 Desalination method in which water containing salts and other substances is permeated through RO membranes using the phenomenon of osmoticpressure.

Although at present CODELCO is still reliant on groundwater and other inland water sources for the water used in its copper mining andrefining processes, it has set a goal of reducing its consumption of inland water by 60% by 2030 in order to protect the environment,
secure water resources for local residents, and ensure sustainable growth. This Project will contribute to this goal. Marubeni, by leveraging
its past experience in construction, maintenance, and operation of seawater desalination plants, will contribute to reducing water
consumption by working with CODELCO on this Project.

Initiatives in Municipal Water / Wastewater Treatment
Through its concession businesses*4 and the BOO*5 project, the Marubeni Group contributes to the supply of safe drinking water andreduces burdens on the environment through effective wastewater treatment.
The concession businesses and BOO project we operate in Chile, Brazil, the Philippines, Portugal and Peru have a total water purification
capacity of 4.2 million cubic meters per day and wastewater treatment capacity of 1.9 million cubic meters per day, and cover a service
population totaling approximately 16.6 million people.
*4 Concession business: Investment into and operation of a private company which has been given the right to conduct water services by a municipality*5 BOO: Build Own and Operate water processing plant

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Concession Business in the Philippines
One example of the Marubeni Group’s concession businesses is our investment in and personnel
dispatch to Maynilad Water Services, Inc. (Maynilad), a water and sewerage services provider serving
the West Zone of Metro Manila in the Philippines, which has a population of 10.5 million people.
Amid the region’s ongoing urban expansion and increased congestion, Maynilad is expanding its water
distribution network to increase the coverage of water supply services. In addition, it continues toprovide a stable water supply to some 1.5 million customers in the concession area by promoting more
efficient use of water resources with measures to prevent water pipe leakage and improve water

Maynilad Water purification
plant

pressure. At the same time, as a medium-to-long-term goal, it is working to raise the currently low
percentage of the population connected to the sewage system, to improve the sanitary environment
both in normal times and during flooding, and to improve the water quality of the region’s water
system and Manila Bay, through development of sewage treatment facilities and the sewerage network
in its service area.
At Maynilad, the effects of operational shutdown caused by physical damage etc. to the facility due todisasters or extreme weather is quantified. Specifically, several of Maynilad’s important business

Water supply in Maynilad

locations such as the purification plant, pumping station, and water distribution network are chosen as samples, and the economic impactof operational shutdown is calculated by period, to be used for developing the business continuity plan.

Outline of Maynilad's Business (as of March 31, 2023)
Treatment Facilities

Treatment Capacity

Water purification plant

2,700 thousand ㎥/day

Sewage treatment plant

663 thousand ㎥/day

Septic sludge treatment plant

1,190t/day

Click here to view Maynilad’s initiatives

Wastewater Treatment in Qatar
Marubeni has participated from the construction stage at the Doha West, Doha North, and Lusail
Sewage Treatment Plants, which are the major sewage treatment plants in Doha, the capital of Qatar
with approximately 2.7 million people. At the Doha West and Lusail Plants Marubeni had conducted theoperation and maintenance for approx. 10 years after the construction. The greywater (treated water
made by sterilizing sewage water, for industrial and consumer use) which is generated during the
sewage treatment process is delivered daily to roadside vegetation, parks, and farms across Dohathrough the greywater pipe network. It plays an important role by supporting the social infrastructure

Doha West sewage treatment
plant

in Doha, the land of desert, and Marubeni engaged in a sustainable contribution activity in regions withinsufficient water supplies through recycling of the valuable water resources.
The amount of water treated daily at each plant is shown below. 385,000㎥ of greywater was supplied
across Doha per day (as of March 31, 2023).
Sewage Treatment Plant in Qatar

Sewage Treatment Plant Capacity

Doha West sewage treatment plant

340 thousand ㎥/day

Doha North sewage treatment plant

439 thousand ㎥/day

Lusail sewage treatment plant

60 thousand ㎥/day

Treatment Capacity

839 thousand ㎥/day

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Lusail sewage treatment plant

Lusail sewage treatment plant

Environment

Environmental Data
Climate Change

Sustainable Forestry

Water Management

Environmental Management

Climate Change
Greenhouse Gas Emissions＜Click here to view Greenhouse Gas Emissions metrics and targets＞〈Scope 1 & 2 Greenhouse Gas Emissions〉(Unit: metric ton CO2e)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Marubeni Corporation’s principal
offices

4

4

12

75

120

Marubeni Corporation’s otheroffices + consolidated subsidiaries

726,704

773,194

797,963

1,016,412

1,000,004

1,016,487(Including non-energyrelated GHG emissions*1)(896,877(Excluding non-energyrelated GHG emissions*1))

1,000,124(Including non-energyrelated GHG emissions*1)(849,910(Excluding non-energyrelated GHG emissions*1))

Scope 1

Scope 2

Sub Total

726,708

773,198

797,975(Including non-energyrelated GHG emissions*1)(683,025(Excluding non-energyrelated GHG emissions*1))

Marubeni Corporation’s principal
offices

2,439

2,307

2,146

0

0

Marubeni Corporation’s otheroffices + consolidated subsidiaries

305,776

308,193

280,025

222,559

221,821

Sub Total

308,215

310,500

282,171

222,559

221,821

1,083,698

1,080,146(Including non-energyrelated GHG emissions*1)(965,196(Excluding non-energyrelated GHG emissions*1))

1,239,046(Including non-energyrelated GHG emissions*1)(1,119,436(Excluding non-energyrelated GHG emissions*1))

1,221,946(Including non-energyrelated GHG emissions*1)(1,071,731(Excluding non-energyrelated GHG emissions*1))

Grand Total

1,034,922

・CO2 emission factors for fuels and steam
CO2 emission factors stipulated by the Act on Promotion of Global Warming Countermeasures are used.
・CO2 emission factors for electricity
Emission factors for each electric power provider released by the Ministry of the Environment are used for Marubeni Corporation. Until
FYE 3/2019, fundamental emission factors (actual emission factors) are used, from FYE 3/2020, adjusted emission factors are used.
Alternative emission factor stipulated by the Act on Promotion of Global Warming Countermeasures was replaced by Emission factors(adjusted emission factors) for each electric power provider for the domestic consolidated subsidiaries from FYE 3/2021. The impact onemissions due to the change in emission factors is a decrease of 7,627 metric tons of CO2.
Country-specific emission factors (CO2 emissions per kWh from electricity generation) published by the International Energy Agency areused for the overseas consolidated subsidiaries. A zero emission factor is applied to purchased electricity derived from renewableenergy in calculating Scope 2 greenhouse gas emissions since FYE 3/2021.
・Emission factors of non-energy-related GHG
Emission factors stipulated by the Act on Promotion of Global Warming Countermeasures are used.
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・Non-energy-related GHG emissions before FYE 3/2020 are not included in GHG emissions.
From FYE 3/2021, non-energy-related GHG emissions are included in GHG emissions, but Scope 1 emissions excluding non-energyrelated GHG emissions and grand total emissions excluding non-energy-related GHG emissions are also presented separately.
・From FYE 3/2022, Marubeni Corporation’s principal offices have achieved zero Scope 2 by purchasing 100% renewable energy forelectricity at domestic offices of Marubeni Corporation and procuring J-credits derived from renewable energy heat for steam and cold
water purchased as energy at the Tokyo Head Office.

〈Scope 1 Greenhouse Gas Emissions (Components of non-energy-related GHG emissions*1)〉(Unit: metric ton CO2e)

FYE 3/2021

FYE 3/2022

FYE 3/2023

114,950

119,610150,214

Carbon dioxide (CO2)

5,203

9,500

31,740Methane (CH4)

72,081

71,65875,149Dinitrogen monoxide (N2O)

36,602

38,096

42,612

Hydrofluorocarbons (HFCs)

1,064

355

712

Perfluorocarbons (PFCs)

0

0

0

Sulphur hexafluoride (SF6)

0

0

0

Nitrogen trifluoride (NF3)

0

0

0

Total amountComponents*1 Non-energy-related GHG emissions cover carbon dioxide from the use of dry ice, carbon dioxide, methane, and dinitrogen monoxide from waste incinerationor use in the manufacture of products and the use of waste fuels, methane and dinitrogen monoxide from the use of fuel in facilities and machinery used forfuel combustion, livestock waste management, methane from livestock feeding (fermentation in the digestive tract of livestock), hydrofluorocarbons in therecovery and encapsulation of HFCs in the maintenance of commercial refrigeration and air-conditioning equipment, and sulfur hexafluoride in the use ofelectrical machinery and equipment such as transformers. There are no emissions of perfluorocarbons and nitrogen trifluoride. For sulfur hexafluoride, there
are no companies obliged to report based on the Act on Promotion of Global Warming Countermeasures.
* The total of each breakdown and the overall total may not match due to rounding.

〈Scope 3 Greenhouse Gas Emissions〉
Marubeni is voluntarily disclosing a part of the data by categorizing its supply chain activities and calculating the GHG emissions in eachcategory in line with the GHG Protocol guidelines. The Scope 3 data is also submitted to the climate change questionnaire of CDP.
Corporate Value Chain (Scope 3) for FYE 3/2023[101KB](Unit: metric ton CO2)

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

approx. 26 million

approx. 25 million

approx. 25 million

22 million

Power generation

approx. 22 million

approx. 21 million

approx. 21 million

19 million

Resource projects

approx. 3 million

approx. 3 million

approx. 2 million

2 million

Other businesses

approx. 1 million

approx. 1 million

approx. 1 million

1 million

Scope 3 CO2 emissions (Category 15: Investment)

Breakdown

・Category 15 covers Scope 1 and Scope 2 emissions for associate investees of the Marubeni Group accounted for using the equity
method, (hereinafter, “associate investees”), which are not included in the Scope 1 and Scope 2 emissions of Marubeni and its
consolidated subsidiaries. The emissions are calculated by multiplying by our equity share. Emissions from businesses designated to beliquidated or sold, renewable energy businesses, and businesses which consist of office operations only are not included.
・In principle, the emissions are calculated in the same way as Scope 1 and Scope 2 for Marubeni and its consolidated subsidiaries, but insome cases emissions reported by associate investees and estimated emissions are included.
・For overseas power generation projects, emission factors from the 2006 IPCC Guidelines for National Greenhouse Gas Inventories areused, including CO2, CH4, and N2O. All emissions from coal are calculated assuming weight on an air-dried basis.
* The total of each breakdown and the overall total may not match due to rounding.

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Energy and Electricity Consumption＜Click here to view Tokyo Head Office’s targets to be achieved by FYE 3/2026＞
FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Electricity consumption of Marubeni
Corporation’s principal offices (Unit: MWh)

5,180

5,227

4,629

8,888

8,956

Energy consumption of Marubeni
Corporation and consolidated subsidiaries(Unit: TJ)

14,38415,303

13,771

17,515

16,992・3.6 GJ/MWh is used for heat value per unit for electricity.
・For fuels, the heat values stipulated by the Act on Promotion of Global Warming Countermeasures are used.
・Biomass energy is not included.
・From FYE 3/2022, Marubeni Corporation’s principal offices have been purchasing 100% renewable energy for electricity at domestic
offices of Marubeni Corporation and procuring J-credits derived from renewable energy heat for steam and cold water purchased asenergy at the Tokyo Head Office.

Environmental Impact of Transport
FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Amount transported (Thousand ton-km)

508,498

484,678

364,538

266,675

220,170

CO2 emissions from upstream transportation(Scope 3 Category 4) (metric ton CO2)

22,70522,617

17,516

13,768

11,787

Intensity (kl crude oil equivalent per
thousand ton-km)

0.01650.01730.01780.01920.0199・This table shows the impacts associated with the domestic outsourced shipment (upstream transportation) of goods consigned byMarubeni Corporation.

Costs Associated with Climate Change(Unit: thousands of yen)

Data

Contents

FYE 3/2022

FYE 3/2023

Cost of climate change risk aversion

Emergency power generation and flood countermeasures due toextreme weather conditions

5,732

6,255

Research and development expenses forclimate change risk aversion

Research and development expenses related to forest
conservation and reduction of greenhouse gas, etc.

5,830

8,127

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Sustainable Forestry
Performance Data of Forest Certification Acquisition
The Marubeni Group has been promoting the use of certified materials in consideration of sustainability. We will continue our efforts toincrease the percentage of certified products that we handle.

Ratio of certified forest products and timber approved as a management material by a certificationbody to consolidated net sales of the Forest Products Division
Item

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Ratio of FSC*2 or PEFC*3 and timber approved
as a management material bya certification body

58%

54%

52%

50%

54%

*2 Certification by the FSC® (Forest Stewardship Council®) (FSC® C016260): An NPO established to promote responsible forestry around the world and operates
systems of international forest certification.
*3 Certification by PEFC (The Programme for the Endorsement of Forest Certification) (PEFC/31-32-80): An international forest certification system, which
endorses mutual recognition of forest certification systems of various countries.

Water Management
Water Withdrawal＜Click here to view Water Management＞＜Click here to view Tokyo Head Office’s targets to be achieved by FYE 3/2026＞(Unit: thousand ㎥)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

4

5

396

409

57

Marubeni Corporation’s consolidated
subsidiaries

55,251

54,89280,69082,23282,588

Total

55,25654,89781,08682,64182,645ー

210,252

217,254

225,857

189,680

Grand total

265,149

298,340

308,498

272,325

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Marubeni Corporation

Mibugawa Power Company

〈Water Withdrawal by Source〉(Unit: thousand ㎥)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Surface water from rivers, lakes, natural ponds

34,395240,094

281,997

291,171

253,887

Underground/wells

6,917

9,471

10,45910,51011,057

0

0

0

0

0

Municipal potable water

5,683

5,767

5,073

5,810

6,292

External water discharge

8,070

9,566

237

549

631

Harvested rainwater

0

0

0

0

0

Seawater, water extracted from the Sea or the Ocean

193

231

575

458

458

55,256265,130

298,340

308,498

272,325

Used quarry water collected in the quarry

Total

・From FYE 3/2020, the river water withdrawn by Mibugawa Power Company for hydroelectric power generation business is included in
the figure.
・Mibugawa Power Company’s business is micro- and medium-sized hydroelectric power project, mainly using flow-in water (self-flowing
water). Click here to view detail of the company.
・From FYE 3/2021, raw water withdrawn by companies engaged in water supply and sewerage services, as well as industrial water supply
and wastewater treatment as part of their business, is included in the figure of water withdrawn.

Water Withdrawal from Water-Stressed Regions
By referring to Aqueduct tools and databases developed by WRI (World Resources Institute), the Marubeni Group identifies regions ofwhich water stress level is “high” or more (“relevant areas”), and through internal reviews such as “Sustainability Data Survey,” we survey
the amount of water withdrawal from the relevant areas.
40 operation sites that have been identified by the “Sustainability Data Survey” with aggregated data as of the end of March 2023, operate
in the watershed areas of Gulf Coast, Mississippi-Missouri, Rio Grande-Bravo, Saskatchewan-Nelson, Kansas, California, Texas, Minnesota,
North Carolina, North Dakota, Iowa in North America, Maipo in South America with relatively high water stress. There is a total water
withdrawal of 97 thousand ㎥ in these regions, and we are aware that this is equivalent to 0.1% of 82,645 thousand ㎥, the amount ofwater withdrawal for the whole Marubeni Group excluding the portion used for hydroelectric power. (Furthermore, we have confirmedthat no operation sites face comprehensively high water risk, such as the amount of physical water resources, pollution by wastewater,
regulations, or assessment of nearby regions.)

Water Discharge(Unit: thousand ㎥)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

4

5

396

409

57

Marubeni Corporation’s consolidated subsidiaries

38,81847,88368,04369,781

71,166

Total

38,82247,88868,43970,19071,223

ー

210,252

217,254

225,857

189,680

38,822

258,140

285,693

296,047

260,902

Marubeni Corporation

Mibugawa Power Company
Grand total

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〈Water Discharge by Destination〉(Unit: thousand ㎥)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Ocean

13,445

12,643

11,321

11,416

11,862

Surface water

24,590240,738

268,138

278,167

243,070

Underground/wells

4

3,790

3,838

3,819

3,716

Off-site water treatment

783

969

1,967

1,911

1,401

Others

0

0

430

734

852

Total

38,822

258,140

285,693

296,047

260,902

・The quality of discharged water is appropriately managed based on the laws and regulations of each country and region.
・From FYE 3/2020, the river water used by Mibugawa Power Company for hydroelectric power generation business is included in the
figures.
・Mibugawa Power Company’s business is small and medium-sized hydroelectric power project, mainly using flow-in water (self-flowing
water). Click here to view detail of the company.
・From FYE 3/2021, the amount of water discharge includes wastewater from sewage treatment projects.

Water Recycling Rate
(Unit: thousand ㎥)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

Water withdrawal

50,52954,87881,08682,641

82,588Recycled amount

16,12018,00842,02857,27065,125

Recycling Rate

32%

33%

52%

69%

79%

・The scope of the water recycling rate includes Tokyo Head Office, branches and Marubeni Corporation’s consolidated subsidiaries.
・The portion used for hydroelectric power are excluded from water withdrawal.

Number of Legal or Regulatory Violations Related to Water Withdrawal
and Water Discharge
In FYE 3/2023, the Marubeni Group received a fine equivalent to 4.5 million yen from the authorities in the state of Paraná, Brazil (theWater and Land Institute (IAT)) in respect of a violation of water quality standards related to factory effluent. The fine has already been
paid and the corrective action completed. After the violation occurred in FYE 3/2018 and from FYE 3/2019 to FYE 3/2022, no violations
related to water withdrawal and water discharge have occurred.

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Water Consumption Intensity in Processed Seafood Products(Unit: ㎥/ton)

Maruichi Suisan Co., Ltd.
FYE 3/2019

35.6

FYE 3/2020

34.6

FYE 3/2021

34.9

FYE 3/2022

34.3

FYE 3/2023

22.3* Maruichi Suisan Co., Ltd. is Marubeni’s subsidiary.

Costs related to Water Management
Costs for water management in FYE 3/2023 are as follows:
・Costs associated with water-related risks: 4,422.8 million yen.
(These include maintenance and repair of water withdrawal and drainage systems and recycling treatment facilities, installation of watersaving equipment, purchase of water discharge treatment chemicals, emergency response training for scenarios assuming the outflow ofhazardous substances, and implementation of cleanup activities in the areas surrounding water sources.)
・Investments in R&D to mitigate water-related risks: 3.56 million yen.
(These are R&D expenses for water risk aversion to maintain water quality, to ensure water quantity and to investigate the surrounding
environment.)

Environmental Management
Environmental Management System/Number of Reported
Cases/Corrective Actions
We have an established system to report/correct cases related to administrative guidance and non-compliance with laws/ordinances in theoperation of the Environment Management System. The measures are taken to prevent recurrence.

Number of Reported Cases/Corrective Actions
FYE 3/2023
Number of reported cases

9

Number of corrective actions

9 (of which 1 includes fines/penalties)

Total fines

Marubeni Corporation
Sustainable Development Report 2024

4.5 million yen

65Environmental Protection Costs
Environmental protection costs for Marubeni’s five principal offices (Tokyo Head Office and Hokkaido, Chubu, Osaka and Kyushu branches)for FYE 3/2023 are shown below.

Environmental Accounting*4(Unit: thousands of yen)

FYE 3/2023
Business area cost

4,238

Upstream/Downstream cost

9,220

Administration cost

500,299

R&D cost0Social activity cost

11,522

Environmental remediation cost

0

Total

525,279*4 Aggregate data based on the Ministry of the Environment’s Environmental Accounting Guidelines 2005

Waste Generated＜Click here to view Tokyo Head Office’s targets to be achieved by FYE 3/2026＞(Unit: metric ton)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

8

39

4

343

270

Marubeni Corporation’s other offices+ consolidated subsidiaries

115,759

148,154

119,015

174,641

206,456

Total

115,767

148,192

119,019

174,984

206,726

Marubeni Corporation’s principal offices

・Materials with resale or reuse value are not included.
・From FYE 3/2022, the amount of waste includes the waste generated by a containerboard base paper manufacturing company inVietnam.
・In FYE 3/2023, the amount of recycling included in the total waste generated by Marubeni Corporation and consolidated subsidiaries is
28,450 metric tons.

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Specially Controlled Industrial Waste Output
As a single entity, Marubeni Corporation monitors and reports our output of specially controlled industrial waste defined in the Waste
Management and Public Cleansing Act. This includes PCB waste etc., such as PCB contaminant and processed PCB, which we dispose in
sequence within the legal disposal period.

Specially Controlled Industrial Waste Output(unit: metric ton)

FYE 3/2023

0

FYE 3/2022

0

FYE 3/2021

0

FYE 3/2020

0

FYE 3/2019

0

Our domestic subsidiaries monitor and report the appropriate amount according to the Waste Management and Public Cleansing Act.

Costs for Industrial Waste(Unit: thousands of yen)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

2,220

3,652

1,921

16,4803,940

Tokyo Head OfficeTarget and Results for Serious Environmental Incidents*5 including Pollution(Unit: case)

Serious Environmental Incidents

TargetFYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

0

0

0

0

0

0

*5 Includes Marubeni Corporation and its consolidated subsidiaries.

Marubeni Corporation’s Emission Volumes(Unit: metric ton)

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

NOx

8

6

7

11

0

SOx

0

0

0

0

0

VOC

0

0

0

0

0

・Data on emission volumes of major consolidated subsidiaries for FYE 3/2023 is as follows:
NOx: 1,392 metric tons, SOx: 62 metric tons, VOC: 27 metric tons
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Recycling Rate
＜Click here to view Tokyo Head Office’s targets to be achieved by FYE 3/2026＞(Unit: %)Recycling Rate of Marubeni Corporation’s
principal offices

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

83.6

41.8

61.7

78.9

74.8

・FYE 3/2020 includes an increase in waste due to large-scale layout work at the Osaka Branch.

Green Product Procurement Rate
(Unit: %)Green Product Procurement Rate of
Marubeni Corporation’s principal offices

FYE 3/2019

FYE 3/2020

FYE 3/2021

FYE 3/2022

FYE 3/2023

90.6

91.2

83.1

75.2

78.0

【The boundary of the environmental data】
・Marubeni Corporation’s principal offices
Until FYE 3/2019, we cover six main branches (Tokyo Head Office, Hokkaido Branch, Chubu Branch, Osaka Branch, Kyushu Branch, andShizuoka Branch), but from FYE 3/2020, we cover five main branches (Tokyo Head Office, Hokkaido Branch, Chubu Branch, Osaka
Branch, and Kyushu Branch).
・Marubeni Corporation (excluding principal offices)
Excluding Marubeni Corporation’s principal offices, we cover domestic branches and offices, other facilities such as Tama Center,overseas branches and offices, and overseas corporate subsidiaries including their branches and offices.
・Domestic offices of Marubeni Corporation
We cover Marubeni Corporation’s principal offices, Tohoku Branch, Shizuoka Branch, Hamamatsu Branch, Hokuriku Branch, Chugoku
Branch, Okinawa Branch, and Tama Center.
・Consolidated subsidiaries
The subsidiaries that are designated to be liquidated or sold are excluded.
From FYE 3/2020, GHG emissions, energy consumption, and water withdrawal figures and from FYE 3/2021, water discharge figures
include agricultural material sales company based in the southeastern United States (waste generated does not include it).

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