President and CEO,
Japan Renewable Energy Corporation (JRE) was founded as an independent power producer specialized in renewable energy, in August 2012, in the aftermath of the Great East Japan Earthquake and the Fukushima nuclear power plant incident, by a group of prominent experts in investment, construction, power generation business and electricity. Thereafter JRE has built an environment in which every single employee of like-minded is able to use his or her capabilities to contribute to JRE and help its growth.
Climate change and increase of energy self-sufficiency are serious social issues confronting Japan. In response to these challenges, JRE's vision is to take a leadership role in creating a prosperous and sustainable society through development of renewable energy. This vision is inspiring us to contribute to society with our long-term commitment to renewable energy, including planning and development of projects, and operation for their entire life span.
In a relatively short period, we have built a portfolio of around 50 power plants throughout Japan. In addition to current solar, onshore wind and biomass projects, we will expand to additional types of renewable energy, including offshore wind and hydroelectric power as an industry leader. Our success largely depends on the understanding and support of our stakeholders, including local communities, municipalities, equipment suppliers, contractors, and fund providers. To this end, we want to be a transparent and trustworthy partner with all our stakeholders throughout the various stage of projects.
JRE is the first renewable energy company in Japan to support the Ten Principles of the UN Global Compact. The Ten Principles which are a code of conduct that includes human rights, labor practices, environment protection and anti-corruption are perfectly in line with JRE's management philosophy and we have faithfully performed our duties.
In order to meet the Sustainable Development Goals (SDGs) approved by the UN General Assembly in 2015, the entire international community needs to take action to combat climate change and to expand clean energy alternatives. The COP21 Paris Agreement was adopted in the same year. Japan ratified the Paris Agreement in 2016 and committed to reduce greenhouse gas emissions by 26% by FY2030 compared to the FY2013 level. Additionally, in October 2020, Prime Minister Suga declared in his first policy speech that he would commit to cutting greenhouse gas emissions to virtually zero by 2050, thereby setting the 2050 goal of achieving a carbon-neutral society. Accordingly, in April 2021 Japan raised its greenhouse gas emissions reduction target to 46% from 26%. To achieve this target, an aggressive goal setting to introduce renewable energy would be expected. JRE is actively striving to address these challenges through aggressive development and greater use of renewable energy alternatives, with efforts to realize co-existence and co-prosperity with local communities. We believe our efforts will greatly contribute to creating a truly sustainable society for many generations to come.