Japan Bank for International Cooperation Strengthens Partnership with Compaa Minera del Pacfico S.A.

Strategic Insights -

The Japan Bank for International Cooperation (JBIC) has signed a Memorandum of Understanding (MOU) with Compaa Minera del Pacfico S.A. (CMP) to further develop their partnership and promote collaboration between CMP and Japanese companies. The partnership aims to support project structuring to diversify the supply sources of low-carbon steel raw materials for Japan and enhance the resilience of supply chains. This move is in line with JBIC's Medium-term Business Plan and ESG Policy, which focus on promoting energy transformation and reducing operational GHG emissions.

Key Takeaways:

  • JBIC signed a Memorandum of Understanding (MOU) with Compaa Minera del Pacfico S.A. (CMP) on April 9 to strengthen their partnership.
  • CMP is the largest iron ore supplier in Chile, with a major share of its production being low-carbon raw materials for steel production.
  • The partnership aims to promote collaboration between CMP and Japanese companies, support project structuring to diversify the supply sources of low-carbon steel raw materials for Japan, and enhance the resilience of supply chains.
  • This move aligns with JBIC's Medium-term Business Plan (Fourth), released in June 2021, which aims to promote energy transformation toward a decarbonized society.
  • JBIC's ESG Policy, released in October 2021, commits the organization to accelerating efforts to reduce operational GHG emissions to net zero by 2030 and achieve net zero emissions in its finance portfolio by 2050.

Statistics:

  • JBIC aims to reduce its operational GHG emissions to net zero by 2030.
  • The organization aims to achieve net zero emissions in its finance portfolio by 2050.
  • CMP has the largest production capacity among iron ore suppliers in Chile.
  • The partnership between JBIC and CMP is expected to contribute to the realization of global carbon neutrality by accelerating the energy transition toward a decarbonized society in emerging and developing countries.

Sources:

  • "Japan Bank for International Cooperation (JBIC) signs Memorandum of Understanding (MOU) with Compaa Minera del Pacfico S.A. (CMP)" (no date specified)
  • "JBIC's Medium-term Business Plan (Fourth)" (released in June 2021)
  • "JBIC's ESG Policy" (released in October 2021)