Japanese trading house Mitsubishi Corp. said Monday it will invest 2 trillion yen ($17.5 billion) by fiscal 2030 in projects related to energy transformation to help realize a carbon neutral society.

About half of the investment is expected to cover the initiative to promote renewable energy, with a focus also on next-generation energy such as hydrogen and ammonia, the company said.

It will continue to invest in the area of liquefied natural gas in a bid to secure an energy source during the transition to a carbon neutral society.

Mitsubishi is aiming to halve greenhouse gas emissions by fiscal 2030, ending March 2031, from the level in fiscal 2020 by switching operations to renewable energy and alternative fuels, while seeking to achieve net zero emissions by 2050 in line with the government's carbon neutrality goal.

Mitsubishi said it emitted 25.3 million tons of greenhouse gas in fiscal 2020, including emissions from affiliate companies calculated based on its degree of ownership.

==Kyodo

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