Kanematsu Corporation (hereinafter “Kanematsu”) is happy to announce its support for and participation in the Insetting Consortium, organized by The Norinchukin Bank, toward the further strengthening and promotion of GX for agriculture and food.
Insetting is a concept whereby a company aims to reduce indirect GHG emissions (hereinafter “Scope 3”) generated along its value chain through providing investment and support for creating environmental value, such as reduction of GHG emissions, for the entire value chain and for transitioning to nature positive*1.
*1: An initiative that simultaneously aims to restore the natural environment and improve biodiversity.
To accelerate the adoption of insetting in Japan, the Insetting Consortium plans to establish working groups and formulate domestic guidelines that conform to Japanese business practices. Through these efforts, the consortium aims not only to reduce Scope 3, which is challenging for companies to respond individually, but also to increase the income of producers and advance the agricultural and food value chain’s transition to achieve carbon neutrality and nature positive.
Kanematsu sets green transformation (GX) as one of the key initiatives under its medium-term management plan, integration 1.1, with a priority area being GX for agriculture and food. In an effort to reduce the Scope 3 of downstream companies, we have already been promoting GX for agriculture and food based on the “carbon insetting” mechanism, utilizing solutions such as biochar, environmentally friendly rice, and a feed additive for reducing cattle methane emissions to deliver traceable products with added environmental value from reduced GHG emissions to downstream companies. (Please see the Supplement Materials.)
The decision to participate in the Insetting Consortium reflects our intention to develop and expand such carbon insetting practices even further. Through cross-sector information sharing and discussion, we will work with various other member companies that are involved in the agricultural and food value chain toward accelerating the adoption of insetting and promotion of GX for agriculture and food.
【Contact】
Public Relations Section, Kanematsu Corporation TEL: +81-3-6747-5000 https://www.kanematsu.co.jp/en/inquiry/
【Supplement Materials】
◆ About Carbon Insetting
A strategy whereby the benefits of GHG emissions reduction and elimination efforts carried out within a supply chain are leveraged within the same supply chain (e.g., acquiring or retiring carbon credits created by producers, utilizing those credits to reduce product emissions). Antonym of carbon offsetting, which involves tapping into environmental value created outside of the supply chain.
◆ List of Kanematsu’s carbon insetting initiatives (press releases)
- Kanematsu enters into a partnership agreement with Denmark’s Danish Crown to spread sustainable pork products in Japan
- Kanematsu enters into a partnership agreement with Green Carbon, Inc. aiming to reduce “rice paddy methane” emissions and spread environmentally friendly rice to address global warming
- Kanematsu and green and agritech venture TOWING partner to expand adoption of the high-performance biochar “Soratan” in Japan and the U.S.
- Kanematsu partners with Morinaga Milk Industry and TOWING to build a sustainable supply chain for Brazilian coffee beans
- Kanematsu invests in Nagoya University based green and agri-tech venture TOWING: Driving the development of sustainable food supply chains globally
- 5 Kanematsu and dsm-firmenich start promoting joint initiatives for reducing the environmental impact of livestock products by utilizing a feed additive that reduces cattle methane emissions