Things are changing in energy production and one way that insurers can play a role in transition is by teaming up with companies who are looking at more Net Zero targets, innovation and alternate power generation. Here’s the word from JERA;
JERA Co., Inc. (“JERA”) announces that it has established JERA Cross with the aim of combining its energy, digital, and business transformation capabilities to accelerate corporate “green transformation” (GX), and that this new company will begin full-scale operations on June 1. JERA Cross has concluded an agreement with McKinsey & Company (“McKinsey”) under which McKinsey will support JERA Cross in providing decarbonization solutions aimed at promoting corporate green transformation.
JERA’s mission is to provide cutting-edge solutions to the world’s energy issues. Achieving a decarbonized society has become an important issue globally, and in Japan, too, there is a need to transition to a decarbonized society centered around clean energy. Driving corporate green transformation forward requires both a business transformation aimed at decarbonization and the ability to execute the energy transition.
JERA Cross will apply renewable energy supply-and-demand management and sales functions that leverage JERA’s expertise and digital technology in the energy domain to provide end-to-end decarbonization solutions spanning from management to execution. These new solutions will drive corporate sustainability transitions and accelerate decarbonization planning, and leverage McKinsey’s expertise in building green businesses and long track record in corporate transformation.
In working to achieve a decarbonized society, JERA Cross will, by designing visions of clients’ future green transformations and drawing up strategies for achieving them, providing end-to-end support from development to supply of the renewable energy needed for electricity decarbonization, and providing a stable supply of electric power that emits no CO2 twenty-four hours a day, 365 days a year*, contribute to solving client issues, transforming client businesses, and reducing CO2 emissions.
JERA’s Chief Strategy Officer (CSO) Junya Tawa remarked, “The green transformation encompasses both the technological issue of how to decarbonize the energy you consume and the strategic issue of how to link decarbonization to your corporate strategy. We hope JERA Cross will be a partner that walks together with its clients on their GX journey to solving both issues simultaneously.”
McKinsey’s Managing Partner Japan Naoyuki Iwatani said, “I believe companies need to take immediate action to accelerate the energy transition. McKinsey, by supporting transformations and businesses like JERA and JERA Cross that address the challenge of climate change, will help achieve sustainable, inclusive growth at both the corporate and national level.”
JERA Cross will combine its energy, digital, and business transformation capabilities in working with clients to develop decarbonization solutions and enhance their corporate value as it seeks to become a central player in achieving the decarbonization of society.
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