Yamaguchi Prefecture Launches Innovative Joint Purchase Project for FIT Non-Fossil Certificates

Yamaguchi Prefecture's Joint Purchase Project for FIT Non-Fossil Certificates

In a significant move towards sustainability, Yamaguchi Prefecture has launched a pioneering joint purchasing project for FIT (Feed-in Tariff) non-fossil certificates. This initiative, spearheaded by Enerbank Co., Ltd., marks an important milestone as it is the first of its kind in the Chugoku region of Japan. The company, led by its co-founder and CEO, Jo Sato, has been chosen as the support business operator for this project through a public proposal process.

Objectives of the Joint Purchase Project

The joint purchase project aims to reduce greenhouse gas emissions while promoting the adoption of renewable energy sources. Yamaguchi Prefecture has set ambitious targets, aiming for a 35.1% reduction in greenhouse gas emissions by 2030. This new project is part of the broader strategy to realize a carbon-neutral society by 2050. Local businesses, including corporations and individual entrepreneurs, will benefit from reduced costs and administrative burdens associated with obtaining non-fossil certificates through this cooperative approach.

Collaboration with Local Entities

Enerbank has extensive experience in collaborative procurement initiatives with local governments across Japan. The company will utilize its Green Ticket environmental value trading service and expertise in joint purchasing schemes to support businesses in Yamaguchi. The project will leverage collective purchasing power to streamline the acquisition of non-fossil certificates, making it easier and cost-effective for local entities to utilize renewable energy.

A Message from the Governor

Governor Tsugumasa Muraoka emphasized the importance of this initiative in supporting the region's environmental goals. By consolidating demand and facilitating bulk purchasing, the project aims to enhance renewable energy usage and foster a green economy. Businesses that may find it challenging to install renewable energy systems can still contribute to the green initiative by purchasing non-fossil certificates, thereby actively participating in the transition to renewable energy.

The Advantages of Non-Fossil Certificates

Utilizing FIT non-fossil certificates not only supports carbon offsetting but also enhances a company's public relations and investment appeal under ESG (Environmental, Social, and Governance) standards. Since November 2021, new regulations have allowed for easier access to these certificates, enabling energy users to procure electricity and its associated environmental benefits separately. This flexibility reduces the costs typically associated with individual purchasing and empowers users to engage in sustainability practices seamlessly.

Future Developments

Looking ahead, the project will establish a “private partner system” to increase the number of local businesses utilizing renewable energy through collaboration with partner companies and enhancing the procurement of green energy. This initiative is essential for supporting local administrations' efforts to achieve zero carbon cities. Additionally, the program will allow businesses to revise their electricity contracts through a reverse auction platform, further reducing procurement costs associated with FIT non-fossil certificates.

The dedicated webpage for the Yamaguchi Non-Fossil Certificate Joint Purchase Project can be accessed here, and more information about Yamaguchi Prefecture can be found here.

Enerbank Co., Ltd. remains committed to fostering an eco-friendly future through innovative projects and partnerships. For inquiries regarding this initiative, please contact:
[email protected].