Risk of Declining Fossil Fuel Demand from the Decarbonization Transition

「In October 2020, Japan declared its aim of achieving “2050 Carbon Neutrality,” under which greenhouse gas emissions would be reduced to zero overall by 2050. The realization of a decarbonized society is a common theme not only for Japan but for the entire world. International efforts are also under way, including the Paris Agreement adopted in 2015, to which more than 190 developed and developing countries are party. As awareness among customers of reducing their environmental impact rises, if they reduce or discontinue the use of energy dependent on fossil fuels or switch to alternative energy, the Group’s business performance may be affected.」