Marubeni Corporation is planning to begin a project for recovery and destruction of fluorocarbons in the suburbs of Hanoi, Vietnam (hereinafter, "this Project") under the "Subsidy Project for Recovery and Destruction fluorocarbons” using the "Joint Crediting Mechanism (*1) (hereinafter, "JCM") supported by the Japanese Ministry of Environment (adopted FY2018-FY2020).
Recently, Marubeni introduced the first dedicated fluorocarbon destruction equipment in developing countries for the purpose of destroying fluorocarbons recovered from such items as discarded home appliances, large air-conditioning equipment, and discarded automobiles, and has conducted a trial run of the equipment. In the future, Marubeni will confirm the effectiveness of this project and popularize fluorocarbon recovery and destruction schemes in Vietnam with aim of earning JCM credits.
At COP25 held in December 2019, the Japanese Government launched the Fluorocarbon Initiative (IFL) (*2), a fluorocarbon life cycle management initiative. In October 2020, the Japanese Government announced that it would aim for "essentially zero greenhouse gas (hereinafter, "GHG") emissions by 2050." GHG reduction is an urgent issue in the world, and the recovery and destruction of fluorocarbons is one of the most useful methods for reducing GHG; Marubeni utilizes Japanese technology and recovery and destruction schemes in Japan. In addition, the company will contribute to Japan's GHG reduction target by earning JCM credits through this Project.
It is estimated that current global emissions of fluorocarbons will exceed about 1 billion tons (CO2 equivalent) per year and 2 billion tons (CO2 equivalent) per year by 2030 (1.5 times the annual GHG emissions of Japan). Promoting the control measures of fluorocarbon emissions, especially in developing countries, will lead to a reduction in GHG emissions worldwide and is important as a measure against climate change.
Marubeni had a fluorocarbon destruction project registered in the CDM (*3) project in China during the first commitment period of the Kyoto Protocol (2008-2012) and achieved a GHG reduction of 6 million tons per year and contributed to achieving the Japan’s Kyoto Protocol goals. Going forward, in developing countries such as Vietnam, with the cooperation of Japanese companies, Marubeni will continue to increase the amount of fluorocarbons recovered from such items as discarded home appliances, large air-conditioning equipment, and discarded automobiles, and aim to establish a recovery / destruction scheme that utilizes incentives through regulations and credit. In addition, the project will contribute to Marubeni's "Long-term Vision on Climate Change" announced in March 2021, "Contributing to low-carbon/low-free goals through business activities," and also to Japan's achievement of GHG reduction targets using JCM.