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International cooperation

Japan Bank for International Cooperation Signs Memorandum of Understanding with Vale S.A.

Strategic Insights

— 1 min read

The Japan Bank for International Cooperation (JBIC) has taken a significant step towards promoting decarbonization and enhancing supply chain resilience by signing a Memorandum of Understanding (MOU) with Vale S.A., a Brazilian company that supplies high-quality mineral resources. The MOU aims to strengthen the relationship between JBIC and Vale, securing stable supplies of raw materials for steel production, including low-carbon materials. This move is in line with JBIC's Medium-Term Business Plan and ESG Policy, which aim to achieve net zero emissions by 2050.

Key Takeaways:

  • The Japan Bank for International Cooperation (JBIC) has signed a Memorandum of Understanding (MOU) with Vale S.A., a Brazilian company that supplies high-quality mineral resources, including iron, nickel, and copper.
  • The MOU aims to promote collaboration between Vale and Japanese companies, secure stable supplies of raw materials for steel production, and support future cooperation in the non-ferrous metal sector.
  • The MOU is aligned with JBIC's Medium-Term Business Plan, which aims to promote energy transformation toward a decarbonized society, and its ESG Policy, which commits to achieving net zero emissions of its finance portfolio by 2050.
  • The partnership will support the realization of global carbon neutrality by accelerating energy transitions toward a decarbonized society in emerging and developing countries.
  • The MOU is part of JBIC's efforts to rebuild and strengthen the resilience of international supply chains, as stated in the Fourth Medium-term Business Plan released in June 2021.

Statistics:

  • 2030: The target year for JBIC to achieve net zero emissions of its operational GHG emissions.
  • 2050: The target year for JBIC to achieve net zero emissions of its finance portfolio.
  • 100-8144: The postal code for JBIC's address at 4-1 Ohtemachi 1-chome, Chiyoda-ku, Tokyo.
  • 100%: The level of commitment to reducing operational GHG emissions by 2030.

Sources:

  • Japan Bank for International Cooperation. (n.d.). Fourth Medium-Term Business Plan. Retrieved from https://www.jbic.go.jp/english/information/roundup/2021/images/jbic_2021_mid.pdf
  • Japan Bank for International Cooperation. (2021, October). ESG Policy. Retrieved from https://www.jbic.go.jp/english/information/policy2021/2143904_10521.pdf
  • Vale S.A. (n.d.). Our Company. Retrieved from https://www.vale.com/Company/default.aspx
  • JBIC. (n.d.). About JBIC. Retrieved from https://www.jbic.go.jp/english/about/

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