25 Jan 2021

Thank you for contacting us regarding this matter. MC (Mitsubishi Corporation) believes in the importance of understanding the concerns of and engaging in open communication with NGOs as an important stakeholder. We have been in direct communication over the course of several meetings with the NGOs related to the referenced statement and responded sincerely to the concerns raised according to the following:

• MC believes that Vung Ang 2, a project based on the request of the Vietnamese government, contributes to important issues currently facing Vietnam.
• MC will not enter into any new coal-fired power generation businesses with the exception of projects which MC has already commenced development. As of the present, the percentage of coal-fired power within MC’s power generation portfolio has been reduced to below 20% (capacity basis), and we will aim to reduce the remaining approximately 2,000MW of coal-fired power generation capacity (including projects in development, under construction, and operational) to realize a complete exit from coal-fired power by 2050. Based on this policy, we are working to reduce our equity share in coal-fired power generation businesses on a continual basis and will accelerate this reduction going forward.
• Furthermore, regarding our power generation business as a whole we have been actively shifting to renewable energy with a focus on offshore wind since 2010, and looking toward global decarbonization, we plan to increase our efforts and investment in integrated power businesses from generation to retail sourced from renewable energy.