Proposes carbon credit generation project utilizing 10 Million hectares of rice paddies in Indonesia
Green Carbon, Inc. (CEO: Jun Okita, hereinafter “Green Carbon”), a company specializing in nature-based carbon credit generation and trading, has been selected as one of 17 global finalists at the “Japan-Indonesia Fast Track Pitch 2024” hosted by Japan External Trade Organization (JETRO) in Jakarta, Indonesia. We are pleased to announce that the company participated in the final pitch event and received a special award.
Looking ahead, Green Carbon plans to generate carbon credits through the implementation of AWD*1 across Indonesia’s 10 million hectares of rice paddy fields, focusing on greenhouse gas emissions reduction. This initiative aims to enhance rice productivity and water resource efficiency while simultaneously advancing Indonesia’s food security and agricultural decarbonization efforts.
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Overview of “Japan-Indonesia Fast Track Pitch 2024”
On the occasion of the 50th anniversary of Japan-ASEAN friendship and cooperation in 2023, JETRO and the Ministry of Economy, Trade and Industry jointly held the “Japan-ASEAN Fast Track Pitch 2023” with ASEAN government agencies. This event was held in four countries including Indonesia, in a format where Japanese companies and leading ASEAN companies presented business challenges and sought solution proposals from companies worldwide.
In 2024, the event continued as the “Japan-Indonesia Fast Track Pitch,” with six challenge owners from Japan and Indonesia participating. In response to the challenges presented by the challenge owners, there were approximately 110 applications from around the world, and after screening, 17 companies including Green Carbon were selected as finalists. The final pitch was held on Thursday, December 5, 2024, in Jakarta, Indonesia, where each finalist made presentations in front of approximately 160 participants.。
〈Event Overview〉
Organizers：Ministry of Economy, Trade and Industry and Japan External Trade Organization (JETRO)
Date：Thursday, December 5, 2024
Venue：Fairmont Jakarta (Jakarta, Indonesia)
URL： https://www.meti.go.jp/press/2024/12/20241209002/20241209002.html
Background of Event Participation
Green Carbon works on generating nature-based carbon credits primarily in Southeast Asia, widely through projects such as forest conservation, rice paddies, mangrove planting, cattle burp reduction, and biochar projects.
Komatsu Ltd., one of the challenge owners at this event, presented three challenges: solutions for enabling sustainable forestry development, development of large-scale rice cultivation technology in Indonesia, and technology to convert surplus heat into electricity as a technology to reform factory efficiency.
In response, Green Carbon made a proposal based on our innovative approach using satellite data and our experience with AWD decarbonization projects centered in Southeast Asia regarding the rice cultivation technology challenge, and were selected as finalists. At the final pitch of this event, our proposal was highly evaluated for our track record in decarbonization projects in Southeast Asia and its potential contribution to solving Indonesia’s food self-sufficiency issues, leading to our special award.
Taking this event as an opportunity, we will actively promote project development in Indonesia moving forward. Indonesia possesses diverse natural resources including abundant forest resources, vast mangrove forests, and fertile rice paddies. By utilizing these natural resources, we aim to generate carbon credits in a sustainable manner, pursuing both regional community development and decarbonization.
Indonesia’s Potential
Green Carbon is promoting nature-based carbon credit generation projects in Southeast Asia as well, organizing numerous projects in countries including the Philippines, Vietnam, Thailand, and Cambodia.
When generating carbon credits from approximately 10 million hectares of rice paddies in Indonesia, we can estimate a potential of approximately 42.8 billion yen※２.
※1：Alternate Wetting and Drying (AWD)
Alternate Wetting and Drying (AWD) is a method in which water is periodically added and naturally dried in rice paddies, based on the water level. Compared to continuous flooding, AWD reduces water usage, contributing to the conservation of water resources.
※２：
Total paddy area: approximately 10,700,000 ha, credit generation amount: 21,400,000 t-CO₂ (calculated at 5t-CO₂/ha), credit sales conversion amount: approximately 42.8 billion yen (calculated at 2,000 yen/t-CO₂)
◆Green Carbon, Inc.
Representative : CEO Jun Okita
Address : Isal AKASAKA607, 5-2-33, Akasaka, Minato-Ku, Tokyo, Japan
Founded : December 2019
Business Operations : Creation and Selling of Carbon Credits, Agricultural Business, Environmental Business, Businesses related to Environmental Consulting, and others.
URL : https://green-carbon.co.jp/
◆Introduction of Green Carbon
Green Carbon operates with the vision of “Saving the Earth with the Power of Life,” providing comprehensive support from carbon credit creation, and registration, to sales. Additionally, we are involved in agriculture-related businesses, research and development, and ESG consulting, among others. Our main focus is on the creation of carbon credits through methane gas reduction in rice paddies, where we have obtained certification for J-Credits, the first and largest in Japan (approximately 6,220 tons), and plan to expand to around 50,000 hectares in the fiscal year 2024. We also offer a service called “Agreen” that integrates credit registration, application, and sales into one platform, simplifying procedures such as application registration and document preparation, thus reducing the workload for credit creators.
◆GREEN CARBON JAPAN VIETNAM COMPANY LIMITED
Representative : CEO Jun Okita
Address ：10th Floor, The Nexus Building, 34-3B Ton Duc Thang, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam
Founded ：August 2024
Business Operations ：Creation and Selling of Carbon Credits, Agricultural Business