Sales of Carbon-Neutralized Basic Chemicals Offset by J-Blue Credit®

Source: www.gulfoilandgas.com 3/28/2022, Location: Asia

Marubeni Corporation (hereinafter, "Marubeni") has purchased "J-Blue Credit®" (*1) (hereinafter, "Credit"), a credit for CO2 absorption at Eelgrass and Sargassum beds (*2) certified and issued by the Japan Blue Economy Association (hereinafter, "JBE"), a corporation authorized by the Minister of Land, Infrastructure, Transport and Tourism. This Credit was one of the first in the world to be issued for seagrass and macroalgal beds, and Marubeni will use this Credit to sell carbon-neutral basic chemicals etc (including ethylene, propylene, and butadiene).

This Credit is issued specifically for blue carbon (*3). Blue carbon is carbon incorporated into marine ecosystems, such as seagrass and macroalgal beds and shallow areas, and is attracting worldwide attention as a new option for CO2 absorption sources to help mitigate global climate change. The creation of seagrass and macroalgal beds in the Kanazawa district of Yokohama (next to Yokohama Bayside Marina), the impetus for the creation of this Credit, is a collaboration between various entities, including the Japanese national government, local governments, civic groups, schools, fishing professionals, and private companies. These meadows have been continuously developed troughout the year, starting with sowing Eelgrass seeds and supplying Sargassum seeding and continuing with seagrass and macroalgal beds management, resulting in more than 10 hectares of the beds.

Marubeni will use this Credit to sell carbon-neutralized basic chemicals that offset CO2 emissions generated during the production and transportation of such products. By doing so, Marubeni will contribute to the increase in CO2 absorption through the creation of seagrass and macroalgal beds, the recovery and improvement of blue carbon ecosystems associated with the recovery of seagrass and macroalgal beds, and the creation of positive economic effects (such as an increase in fish and shellfish catches, water purification volumes, and types of aquatic organisms).


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