Development Bank of Japan Inc. (DBJ) has been adjudged a winner by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP*1) for outstanding work in the category of Local Economic Development. In selecting DBJ for the award, ADFIAP cited the Establishment of Shikokuchuo City*2 Carbon Neutrality Council (the Council). The 2022 awards were presented at the ADFIAP General Meeting held on the 26th and 27th of October 2022.
The ADFIAP Awards recognize the work of development finance institutions with distinguished achievements in the Asia Pacific region. The aim of the awards is to publicize deals and projects which are both outstanding and instructive, as well as to share financial methods and techniques.
DBJ has established the Council together with Daio Paper Corporation (Daio Paper) and Marusumi Paper Co., Ltd. (Marusumi Paper). The mission of this council is to study the area energy conversion in the Shikoku Chuo area in order to achieve carbon neutrality.
Daio Paper and Marusumi Paper have their main plants in Shikokuchuo City. They have been promoting various environmentally friendly initiatives, such as rationalization of energy use and utilization of biomass energy. However, they are currently forced to use a certain amount of fossil fuels such as coal, and as they are required to respond to the government's declaration to become "carbon neutral by 2050," further energy conversion and reduction of carbon dioxide emissions is a long-term challenge shared by both companies.
Shikokuchuo City also ranks first in Japan in the value of shipments of manufactured goods in the pulp, paper, and processed paper manufacturing industry. In order to continue to enhance the sustainability of regional industrial clusters, it is essential that companies and local governments in the region, as energy consumers, work together to solve the problems they face.
The Council is collecting a wide range of information, including current policy trends and verification of the safety, economic efficiency, and procurement stability of hydrogen and other energy sources, while also considering the possibility of establishing a common regional energy infrastructure. In addition, the Council is studying realistic measures and a roadmap for a regional energy transition to achieve carbon neutrality based on the area's regional characteristics.
After the establishment of this council with Daio Paper and Marusumi Paper as original members, Ehime Paper Manufacturing Co Ltd. has also become a member. The Council plans to continue to accept participation from other companies located in Shikokuchuo City and to hold discussions with business operators, local governments and local regional banks.
The establishment of this council is intended to facilitate these discussions in order to realize carbon neutrality and to support the resolution of regional issues, a goal that was highly evaluated, leading to this initiative receiving the ADFIAP award.
In line with its corporate philosophy of "Designing the Future with Financial Expertise," DBJ will continue to actively support its clients' efforts to develop markets for growth capital, revitalize local economies, and build competitiveness.
*1 ADFIAP
| Official name | Association of Development Financing Institutions in Asia and the Pacific | |
| Establishment | October 1976 (Headquarters: Manila, Philippines) | |
| Membership | 90 institutions in 38 countries and regions |
*2 Shikokuchuo City is located on the eastern edge of Ehime Prefecture in western Japan.
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