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Mitsubishi UFJ Financial Group Partners for Office Plastic Recycling Initiative

In a significant step toward sustainability, Mitsubishi UFJ Bank, Mitsubishi Chemical, and Refineverse have signed a memorandum aimed at promoting the recycling of plastic waste generated from office environments. This initiative, which will utilize discarded plastic from Mitsubishi UFJ Bank's Nihonbashi branch, seeks to establish a comprehensive recycling scheme that involves recovering materials like clear files, packaging, and cushioning materials. The collaboration intends to repurpose this waste into employee ID card holders for the bank, thereby addressing both environmental concerns and resource procurement risks while creating new business opportunities.

Currently, most plastics, excluding PET bottles, are typically disposed of through thermal recycling in Japan. This recent pilot project aims to enhance recycling processes by ensuring that discarded plastics are sorted and collected effectively, transformed into materials that meet quality standards, and recycled under stringent quality control. Mitsubishi Chemical's chemical recycling facilities in Ibaraki will oilify the recovered plastics, which Japan Polypropylene Co., Ltd., a group company, will then convert into polypropylene (PP) resin. The final product will be used to manufacture holders for employee ID cards at the bank's Nihonbashi location.

Refineverse will play a pivotal role in this initiative by handling the collection and initial processing of the used plastics from the Nihonbashi branch. Notably, it is estimated by Earth Hacks Inc., headed by CEO Sumito Sekine, that this project could potentially reduce CO2 emissions by over 30%. The collaborative effort will continue to compute carbon reductions while utilizing Earth Hacks' Deca Boss Core technology to visually communicate progress to stakeholders.

Overview of Roles and Responsibilities

Promoting awareness and encouraging sorting at the Nihonbashi branch, fostering environmental consciousness through the use of recycled products.
Collecting used plastics from the Nihonbashi branch and processing them for chemical recycling.
Converting collected plastics into oil for recycling into PP resin at Japan Polypropylene.

Enhancing Environmental Awareness and Collection Methods

The initiative includes the installation of educational posters and recycling boxes throughout the office to encourage sorting and collection. Since the completion of Mitsubishi Chemical's recycling facility in July 2025, various types of used plastics have been considered for recycling. This pilot project will employ lifecycle assessment methods to evaluate environmental impacts, improve sorting and collection rates, and streamline collection and processing procedures.

Refineverse will confirm that the plastic waste produced at the Mitsubishi UFJ Bank's Nihonbashi branch, sourced from approximately 1,400 employees, can be processed as chemical recycling material. This pilot effort is expected to demonstrate the capability of recycling used office plastics into products of equivalent quality to new items.

Moving forward, the three companies plan to leverage insights gained from this pilot project to explore collaborations with more businesses and local governments aimed at recycling office-derived used plastics at regional levels.

Mitsubishi UFJ Financial Group's Commitment to Resource Circulation

Mitsubishi UFJ Financial Group aims to address societal challenges through its medium-term management plan for 2024-2026. The group highlights the realization of a carbon-neutral society and the promotion of a circular economy as ten priority issues. As global awareness of environmental impact and resource conservation grows, the group is engaged in diverse initiatives aimed at transitioning to a decarbonized society and a circular economy.

Mitsubishi Chemical's Initiatives for Resource Circulation

Mitsubishi Chemical is committed to providing chemicals and plastics through recycling, plant-derived materials, and CO2-based products, striving for a circular society. Their chemical recycling involves decomposing used plastics under high-temperature, high-pressure conditions to efficiently transform them into valuable materials, addressing previous waste limitations and contributing to a more sustainable future.

Refineverse's Approach to Resource Circulation

With the vision to connect wealth through unique perspectives and technologies, Refineverse has been embodying the principles of a circular economy for over 20 years. The company's efforts include collecting and recycling discarded carpet tiles in self-operated factories and developing high-quality recycled materials using waste fishing nets and car airbags. Through these initiatives, Refineverse aims to promote and enhance the implementation of a circular society through its business practices.

Conclusion

The partnership between Mitsubishi UFJ Bank, Mitsubishi Chemical, and Refineverse represents a meaningful step in the right direction toward improving sustainability and resource management in office environments. By encouraging responsible plastic use and recycling, this initiative highlights the potential for businesses to play a crucial role in addressing larger environmental challenges.