Conclusion of a J-Credit Purchase and Sale Agreement for Prefectural Forests in Oita Prefecture by ENEOS

Oita Prefecture

ENEOS Corporation

Oita Prefecture and ENEOS Corporation (hereinafter, ENEOS) announce that they have concluded an agreement (hereinafter, the "Agreement") concerning the purchase and sale of J-Credits*1 derived from forests managed by Oita Prefecture, which were generated in the prefectural forests, on March 27, 2026.

ENEOS's project proposal was adopted in Oita Prefecture's public solicitation held in January 2026. Both parties will jointly promote regional forest conservation and the realization of a carbon-neutral society by utilizing forest-derived J-Credits.

Oita Prefecture will generate forest-derived J-Credits through the proper management of its prefectural forests and utilize the revenue as a long-term and stable financial resource for forest conservation. ENEOS will use the generated credits to offset greenhouse gas emissions from its business activities. Taking this Agreement as an opportunity, Oita Prefecture and ENEOS aim to achieve carbon neutrality while steadily advancing regional forest conservation.

In Oita Prefecture, forest operations such as thinning and road network development are carried out in prefectural forests based on forest management plans to promote the healthy growth of forests. These operations form the foundation for sustainable forest management while maintaining the multifaceted functions of forests, such as CO2 absorption and water source conservation. Through these initiatives, the prefecture aims to ensure the continuation of long-term forest management and promote the regional forestry industry.

The ENEOS Group aims to reduce its Scope 1 and 2*2 greenhouse gas emissions by 73% by FY2040 compared to FY2013 and achieve carbon neutrality by FY2050. By utilizing forest-derived J-Credits, ENEOS is challenging itself to balance "stable supply of energy and materials" with "the realization of a carbon-neutral society." As a business operator within the prefecture that operates the Oita Refinery, ENEOS will promote decarbonization initiatives in collaboration with the region through this Agreement.

Oita Prefecture and ENEOS will steadily advance the conservation of forest resources utilizing forest-derived J-Credits together with the local community, and contribute to the formation of a decarbonized and circular society.

【Signing Ceremony】