INPEX to Support Rimba Raya REDD+ Project in Indonesia, Acquire Carbon Credits[PDF:998.6 KB]

Public Relations Group, Corporate Communications Unit

Akasaka Biz Tower, 5-3-1 Akasaka, Minato-ku, Tokyo 107-6332 JAPAN

February 22, 2021

INPEX to Support Rimba Raya REDD+ Project in Indonesia,

Acquire Carbon Credits

TOKYO, JAPAN -INPEX CORPORATION (INPEX) today announced that it has entered into an agreement with conservation firm InfiniteEARTH to acquire five million tons worth of carbon credits*1 over five years by supporting the Rimba Raya Biodiversity Reserve REDD+*2 Project (hereinafter "the Project").

• *1 Validated under both the Verified Carbon Standard (VCS) and Climate Community & Biodiversity (CCB) Standard. VCS is administered by Verra, an international institiution based in Washington, DC in the USA that manages carbon offset standards. The CCB Standard identifies projects that simultaneously engage in climate change response, community support and biodiversity conservation.

• *2 REDD+ is a concept defined at the 2010 United Nations Climate Change Conference that augments REDD (Reducing

  Emissions from Deforestation and forest Degradation) with the active prevention of forest degradation through forest management and enhancement of carbon stocks through forestation.

InfiniteEARTH conducts forest conservation activities to improve living standards for local communities as well as promoting orangutan conservation programs through the Project, which the company is managing in the Central Kalimantan province of Indonesia since 2008.

The project generates carbon credits*2 verified under international standards from CO2 absoption through forest conservation activities.

In September 2020, the Project became the world's first to be officially recognized as contributing to all 17 SDGs under the SD Vista*3 standard. The Project earned positive assessments for its initiatives to improve the social infrastructure of local communities through employment, healthcare, education and access to clean water as well as safeguard biodiversity through orangutan conservation efforts, in addition to its forest conservation activities. （https://infinite-earth.com/inpex）

*3

Sustainable Development Verified Impact Standard, a standard that verifies the contribution of projects to SDGs.

INPEX, as outlined in its "Business Development Strategy - Towards a Net Zero Carbon Society by 2050," is committed to responding to climate change through CO2 absorption by way of forest conservation. The company will also aim to proactively support projects that can contribute to the safeguarding of invaluable biodiversity and improvement of living standards for local communities.

https://www.inpex.co.jp/english/company/pdf/business_development_strategy.pdf

About InfiniteEARTH LTD.

Address:	Unit 618, 6/F, New Mandarin Plaza, Tower B,
14 Science Museum Rd., Tsimshatsui, Kowloon, Hong Kong
Representative:	CEO & Founder Todd Lemon
Description of Business:	International developer of projects that issue carbon credits.
Founded in 2008 to develop the Rimba Raya REDD+ project,
which will conserve a 64,977-hectare peat forest in central
Kalimantan in Indonesia over an approximately 30-year period
from 2008 to 2038.
Website:	https://infinite-earth.com/

Project locactionEducational support for local communitiesWater purification support for local communities

About INPEX

INPEX CORPORATION is Japan's largest exploration and production (E&P) company, and is currently involved in projects across multiple continents, including the Ichthys LNG Project in Australia as Operator. Through building a cleaner upstream business and advancing hydrogen and renewables solutions, INPEX aims to become a leading energy company and continue providing a stable and efficient supply of energy to its customers while pioneering energy transformation towards a net zero carbon society by 2050. For more information, visithttps://www.inpex.co.jp/english/index.html.

Media Contact: INPEX Tokyo Office, Public Relations Group, Tel) [phone]