Marubeni agrees with the Vietnam Electricity Group on a decarbonized society in Vietnam

Marubeni Corporation is pleased to announce that Marubeni signed a Memorandum of Understanding with the Vietnam Electricity Group (EVN), a state-owned power utility in the Socialist Republic of Vietnam, on mutual collaboration towards the achievement of a decarbonized society in Vietnam.

EVN and Marubeni will jointly study a wide range of decarbonization projects, including the decarbonization or carbon emission reduction of existing thermal power plants in Vietnam and the development of renewable energy and sustainable green energy such as biomass, ammonia, and hydrogen. Marubeni is the first company to sign an MOU with EVN focusing on the theme of decarbonization, and together the two companies will work to achieve decarbonization in Vietnam’s power sector.

The Vietnam Government set the goal of achieving net zero greenhouse gas emissions (hereinafter, “Carbon Neutrality”) by 2050. In addition, Marubeni has established the Marubeni Long-Term Vision on Climate Change as of March 2021 and has also highlighted green strategy as one of its main policies to increase corporate value in its Mid-Term Management Strategy (“GC2024”).

In Vietnam, Marubeni has been involved in the construction and operation of a total of 11 thermal projects since the 1970s and started a business to supply renewable energy to commercial and industrial customers in 2021. Based on this MOU, Marubeni will drive the decarbonization process of its corporate group forward and enhance its green strategy, and is committed to contributing to the achievement of Carbon Neutrality in Vietnam.