Procurement of J-Credit from Domestic Forests for Greenhouse Gas Reduction

IINO Kaiun Kaisha, Ltd. (IINO) is pleased to announce that it has signed a "J-Credit Purchase Agreement" (the "Agreement"), under which IINO will continue to purchase forest-derived J-Credits* 1 created by TAJIMA FOREST (Headquarters: Hita City, Oita Prefecture) for the purpose of offsetting greenhouse gas emissions from the IINO Group's domestic business activities.

TAJIMA FOREST manages approximately 1,200 hectares of forests mainly in Nakatsue Village, Hita City, Oita Prefecture, and is one of the largest forestry companies in Japan as a specialized forestry company. The target forests which create J-Credit include a 1.64-hectare forest certified by the Ministry of the Environment as "Natural Symbiosis Site"* 2 , where biodiversity is being conserved to achieve the 30by30* 3 target.

In its mid-term management plan, "The Adventure to Our Sustainable Future," IINO has identified " Formulation and Implementation of Plan to Realize a Decarbonized Society" as one of the business foundation strategies. As part of our efforts to achieve this goal, we plan to offset greenhouse gas emissions from our group's domestic real estate and domestic shipping businesses. The J-Credit to be procured under this contract will realize an economic approach to the efforts to achieve carbon neutrality.

In addition, as part of our biodiversity preservation efforts, we have been working on forestation in Nagatoro town, Chichibu district, Saitama Prefecture through the "Saitama Prefecture Forestation Agreement," and at "The IINO Forest," an open space developed under the concept of "connecting" greenery in the Imperial Palace and Hibiya Park adjacent to the IINO Building, which is owned by IINO, we have been creating a forest in consideration of biodiversity, including the traffic of birds and insects that live in nearby green areas and potential natural vegetation (original vegetation suitable for the area). We believe that the use of J-Credits generated from properly managed forests contributes to supporting the domestic forestry industry, improving the water source irrigation function of forests, and creating rich forests that lead to a rich ocean. We will continue our efforts to realize a decarbonized and sustainable society.

*1　A system under which the government certifies as "credits" the amount of CO2 and other greenhouse gasemission reductions achieved through the introduction of energy-saving equipment and the use of renewable energy, as well as the amount of CO2 and other gases absorbed through appropriate forestmanagement.
*2　Areas recognized by the government as "areas where biodiversity is being conserved through private sector efforts, etc."
*3　Target to effectively conserve at least 30% of land and sea as healthy ecosystems by 2030 with the goal of halting and restoring biodiversity loss by 2030 (Nature Positive)(agreed at the G20 Environment Ministers' Meeting in July 2021, etc.)

Forest of TAJIMA FOREST

<Outline of TAJAMA FOREST>
TAJIMA FOREST was established in 1998 in Hita City, Oita Prefecture and specializes in forestry. We have been living with forests since the Kamakura period (1185-1333). With the belief of "resolutely protecting the forests," the company has been paying attention to the tides of the times and flexibly taking on the challenge of passing on the forests from generation to generation, and in today's difficult times for the forestry industry, it is developing new businesses that not only produce timber but also utilize the multifaceted functions of the forests to continue to protect the forests of Japan into the future.
https://tajimaforest.co.jp/

Contact:
Sustainability Promotion Department
TEL: +81-3-6273-3369
Contact form: https://www.iino.co.jp/kaiun/english/contact/

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