Fujitsu and IHI Corporation have joined forces to contribute towards achieving global carbon neutrality.
In a cooperative effort to help the world become carbon neutral, Fujitsu and IHI Corporation have achieved progress. The project’s goal is to build a platform for the distribution of environmental value and for the facilitation of environmental value transactions.
In order to prepare for the issuing of J-Credit, the two businesses started working on a J-Credit Easy Generation in June 2023 by streamlining the procedure for creating environmental value (collecting, verifying, and reporting data like CO2 emissions).
The two businesses were chosen as part of this effort by Japan’s Ministry of the Environment after they submitted applications. They would work together on a project called the Outsourcing of Research and Development towards the Utilization of Digital Technology in FY 2023 J-Credit System. Beginning in June 2023, work on the project will last until March 2024.
In addition, the two businesses want to begin offering the J-Credit Easy Generation as a module of the platform for distributing environmental values in fiscal 2024.
Summary of the Joint Project
IHI and Fujitsu have been working together to build a platform for distributing environmental value from fiscal 2022. By using information gathered at IHI’s IoT platform, ILIPS (IHI group Lifecycle Partner System), it transforms CO2 emissions reductions computed using those reductions into tokens. These can subsequently be disseminated using Fujitsu’s ConnectionChain blockchain technology, which securely connects various blockchains, on the market for environmental value exchange.
Companies and organizations that support the environment by taking steps like lowering CO2 emissions will be able to quickly convert environmental value into J-Credits by integrating J-Credit’s “J-Credit Easy Generation” with the environmental value distribution platform.
Fujitsu also hopes to create a viable value chain model by encouraging the use of digital technology in J-Credit transactions. one that makes it possible for buyers to exchange environmental value produced by environmental value creators as J-Credits easily.
By expanding their businesses to deal with the digital verification of the value generated by environmental measures that address concerns like product carbon footprint, starting with J-Credit’s J-Credit Easy Generation, the two companies will help to make carbon neutrality a reality.
Overview of the J-Credit “J-Credit Easy Generation” Demonstration Project from the Ministry of the Environment (Public Offering Overview)
The goal of this project is to use IoT and blockchain technology in conjunction with the “Introduction of Photovoltaic Power Generation Facilities (EN-R-002)” approach to evaluate how the process from monitoring to awarding J-Credits could be made simpler. The demonstration will be carried out in the following three stages:
Planning and discussion topics for the demonstration from June to August 2023 A demonstration plan is created when the technical requirements for the system building have been sorted out and examined.
Demonstration took place from September 2023 until December 2023. construction and demonstration of the system. Report on the demonstration’s outcomes and then go over the J-Credit system’s suggested changes.
Final modifications between January 2024 and March 2024 in order to get ready for implementation
Review the J-Credit System Document’s suggested modifications. A description of the system modification and operation strategy based on the demonstration outcomes is also included.