Mizuho Bank, partners launch support service for J-Credit creation

Mizuho, IHI, and Fujitsu aim to create a one-stop digital service.

Mizuho Bank is forming a joint business venture with IHI Corporation and Fujitsu Limited to provide J-Credit Creation Total Support Service. 

The service aims to optimize the J-Credit creation process and support rapid monetization for J-Credit creators, the three companies said in a press release announcing the memorandum of understanding.

J-Credits are government-certified credits tied to the amount of greenhouse gas emissions reduced or removed, such as through adoption of energy-saving devices. Credits created under the scheme can be used for various purposes, such as achieving the targets of the Nippon Keidanren's Commitment to a Low Carbon Society, and carbon offset, according to the official J-Credit website.

Mizuho, IHI, and Fujitsu said that they will digitize the process of creating “environmental value” — measurement, reporting, and verification— to offer a total support service for J-Credit creators. 

To start, the venture aims to provide support for J-Credits creation aimed at introducing photovoltaic power generation facilities to replace grid electricity in Q1 2025.

Currently, for companies and organizations to create J-Credits, various procedures are necessary across each of the phases, from project registration to J-Credit creation, and the significant time and effort required is an issue. 

There is a risk that the buyer won’t be found after credits are created, delaying monetization, the press release said.

The venture will make use of Mizuho Bank’s network with the MRV Support System, Fujitsu’s blockchain and automation technology, and IHI’s industry knowledge regarding J-Credit creation and data collection engineering know-how.

It will also make use of the J-Credit priority purchase program, which utilizes Mizuho Bank's customer network.