Fujitsu and IHI Collaborate on Blockchain Project for Environmental Value Exchange Market

Fujitsu and IHI Corporation have made significant progress in their joint project, which aims to contribute to carbon neutrality and establish an environmental value distribution platform supporting environmental value transactions. The project, initiated in fiscal year 2022, focuses on simplifying the environmental value creation process and preparing for the issuance of J-Credit, a carbon credit system.

Under the initiative named “J-Credit Easy Generation,” the two companies have simplified the collection, verification, and reporting of data, such as CO2 emissions, to facilitate the creation of J-Credits. By doing so, they aim to enhance the environmental value exchange market and promote a sustainable value chain model.

In recognition of their efforts, Fujitsu and IHI have been selected by Japan’s Ministry of the Environment as collaborators for the “Outsourcing of Research and Development towards Digital Technology Utilization in FY 2023 J-Credit System” project. This collaboration will run from June 2023 to March 2024.

Moving forward, Fujitsu and IHI plan to integrate the “J-Credit Easy Generation” into the environmental value distribution platform, making it available as a module by fiscal year 2024.

The joint project focuses on creating an environmental value distribution platform that utilizes Fujitsu’s “ConnectionChain” blockchain technology to securely connect different blockchains. This platform converts CO2 emissions reductions, calculated using data collected from IHI’s IoT platform called “ILIPS (IHI group Lifecycle Partner System),” into tokens. These tokens can then be distributed on the environmental value exchange market.

By incorporating the “J-Credit Easy Generation” into the environmental value distribution platform, companies and organizations that contribute to the environment by reducing CO2 emissions will be able to easily convert their environmental value into J-Credits. Furthermore, Fujitsu aims to promote the application of digital technology to J-Credit transactions, building a sustainable value chain model that allows smooth trading of environmental value as J-Credits.

Fujitsu and IHI are committed to realizing carbon neutrality and expanding their businesses to address issues related to product carbon footprint and other environmental measures. The joint project’s focus on digital verification of the value generated by such measures aligns with their broader goal.

The “J-Credit Easy Generation” demonstration project aims to streamline the process of monitoring and issuing J-Credits through the utilization of IoT and blockchain technology. It adopts the “Introduction of Photovoltaic Power Generation Facilities (EN-R-002)” methodology and will be conducted in three phases.

, ,

Get this and other Expert Columns on Japan delivered to your inbox.

Subscribe to our Free Email Newsletter!

No comments yet.

Leave a Reply