Establishment of the "GX Management Promotion Working Group" in the GX League ~Establishing a system to properly evaluates opportunities for companies to contribute to climate change~

Chubu Electric Power has established the "GX Management Promotion Working Group" ("GX Management Promotion WG") with 6 leader companies organized by Nomura Holdings, Inc. and 73 member companies to "make rules for market creation" which is one of the initiatives called for in the GX League (Note).

In FY2022, the GX League is working to verify the 3 initiatives of the GX League with more than 440 supporting companies, aiming to become fully operational from FY2023. The newly established GX Management Promotion WG is positioned as an initiative to "make rules for market creation", which verifies the mechanism for making rules in the public and private sectors.

The GX Management Promotion WG aims to establish a system that properly evaluates opportunities for Japanese companies to contribute to climate change (reduction of CO₂ emissions from products and services offered in the market, etc.) to globally realize carbon neutrality. The WG also aims to issue guidelines on climate-related opportunities and to form initiatives through studies and discussions with leader companies and member companies.

(Note) GX stands for "green transformation". GX is the transformation of the overall economic and social system, which aims at reducing emissions and increasing industrial competitiveness using efforts to achieve Japan’s 2030 greenhouse gas reduction targets and goal of carbon neutrality by 2050 as opportunities for growth. On February 1, 2022, Industrial Science and Technology Policy and Environment Bureau of METI announced the "GX League Basic Concept". The "GX League" was established as a forum for companies actively working on GX to discuss the transformation of the overall economic and social system and to create new markets, together with players aiming for GX through cooperation in the government, academic and economic spheres.