Terrascope expands to Japan, joining forces with Mitsubishi Corporation, Tetra Pak, and Mizuho Bank
- This marks the second market expansion for the Singapore-headquartered climate tech venture in less than a year.
- Strategic partnerships with Japanese industry leaders will provide a comprehensive decarbonisation offering to enterprises in Japan.
- Terrascope's recent recognition as the first Asia-grown carbon solution provider to achieve CDP "Gold Software" accreditation positions it as a recommended choice for Japanese companies seeking to deliver robust climate disclosure and action.
Tokyo, 15 June 2023 – Terrascope, a SaaS decarbonisation platform with operations spanning five countries across APAC and Europe, proudly announced today its expansion into the Japanese market. With a steadfast commitment to helping enterprises worldwide tackle their decarbonisation journey, Terrascope is now focused on empowering Japanese businesses in the food/agriculture, consumer goods, and technology sectors to achieve their sustainability and net zero goals.
Terrascope's end-to-end decarbonisation solution offers a suite of analytics and digital tools designed to enable enterprises worldwide to measure and manage their emissions with accuracy and impact – especially supply chain emissions, known as Scope 3. The company has already onboarded prominent Japanese and Asia-Pacific corporations committed to decarbonising their operations and achieving sustainability milestones, including Mitsubishi Shokuhin, NOCO-NOCO Pte. Ltd as a part subsidiary of 3DOM Alliances Inc, Pokka Pte. Ltd and MC Agri Alliance Ltd.
Maya Hari, CEO of Terrascope, said: "We see a strong commitment to decarbonisation from Japanese corporations and we are invested in supporting them on this journey. We are proud to bring our expertise and industry-leading solutions to Japan. This new market entry is a significant milestone for Terrascope and speaks to the interest we are receiving from companies globally.”
Collaborating for Impact
There is immense potential for Japanese enterprises to unlock business value through decarbonisation. According to an exclusive survey conducted by research firm Verdantix and Terrascope, 85% of Japanese firms have established emissions reduction targets, with 30% of these targets being SBTi-approved and encompassing Scope 1, 2, and 3 emissions. The primary drivers identified by Japanese enterprises for decarbonising their operations and supply chains include prioritising emissions reduction opportunities, proactively anticipating future regulations, and future-proofing product design.
To provide Japanese businesses with holistic decarbonisation solutions tailored to their climate target requirements, Terrascope announced several strategic partnerships alongside its Japanese launch: Mitsubishi Corporation will refer their group companies and customers to Terrascope, fostering a united effort to drive decarbonisation across various industries. Terrascope’s partnership with Tetra Pak, a leading provider of food packaging and processing solutions, will provide customers with more accurate product-level sustainability footprints to consider alongside traditional financial and operational criteria in the food and beverage space. Finally, Terrascope’s partnership with Mizuho Bank will allow customers to more easily finance their net zero transitions.
Terrascope’s recent recognition as an accredited global gold software solutions provider by CDP, the leading voluntary environmental disclosure system, sets it apart as the first Asia-grown carbon solution provider to achieve such a status. This accreditation establishes Terrascope as a recommended choice for the over 18,000 companies that report to CDP, and uniquely positions it to assist Japanese enterprises in delivering robust climate disclosure and action.
Shuji Kobayashi, Senior Vice President, Division COO, Food Resources Division, Food Industry Group, Mitsubishi Corporation, said: “Our strategic partnership with Terrascope underscores our further commitment to driving sustainable practices across industries and supply chains in Japan and beyond. By combining Terrascope’s decarbonisation solution with our leadership position in various industries in Japan, our goal is to enable Japanese enterprises to accelerate their transition to a low-carbon economy.”
Alejandro Cabal, President and Representative Director of Tetra Pak Japan, said: “Together with Terrascope, Tetra Pak Japan aims to empower Japanese enterprises to embrace sustainable innovation and packaging on a larger scale. Our partnership is poised to accelerate the adoption of sustainable packaging solutions across entire industries by leveraging advanced insights into supply chain emissions.”
Yasuhiro Kubota, Managing Executive Officer Co-CEO for Asia Pacific, Mizuho Bank, said: “Mizuho Bank, Ltd. is pleased to announce its partnership with Terrascope to support decarbonisation efforts in the Asia-Pacific region. Using this partnership as a starting point, Mizuho Bank will proactively work to provide financing opportunities for customers' net-zero transition strategies and sustainability efforts by combining Mizuho's customer network in the Asia-Pacific region with Terrascope's solutions.”
Mari Kogiso, Sustainability Advisory for Terrascope, said: "Our work with industry leaders in Japan demonstrates the trust and confidence that large operations with complex operations have in Terrascope's capabilities. With our proven track record and the esteemed CDP Gold accreditation – which recognises us as a market leader – Terrascope is well-positioned to support Japanese businesses in achieving their sustainability objectives."
Sunny Verghese, Co-Founder and Group CEO of Olam Group Limited, and Member of Terrascope’s Board of Directors, said: "Japan holds immense potential for sustainable innovation. Bringing Terrascope's advanced decarbonisation solutions to Japan, along with our strategic partnerships with renowned industry leaders, positions us to confidently support Japanese companies in accelerating their progress towards achieving their net zero goals.”
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Terrascope empowers corporations to build a credible pathway to net zero.
Terrascope is an end-to-end decarbonisation SaaS platform that enables enterprises to measure and manage their Scope 1, Scope 2 and Scope 3 emissions. By leveraging data science, machine learning and sustainability expertise, the Terrascope platform helps large companies decarbonise their business operations and supply chains, guiding them on the most impactful actions they can take in the journey to net zero.
Publicly launched in June 2022, Terrascope works with customers in a variety of sectors, from agriculture, food & beverages, manufacturing, retail and luxury, to transportation, real estate and TMT. Globally headquartered in Singapore, Terrascope operates in major markets across APAC and Europe, and is a partner of the Monetary Authority of Singapore’s ESG Impact Hub.
Learn more at terrascope.com
About Mitsubishi Corporation
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses together with its offices and subsidiaries worldwide, as well as with its global network of group companies. MC has 10 Business Groups that operate across virtually every industry: Natural Gas, Industrial Materials, Chemicals Solution, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution and Urban Development. Through these 10 Business Groups plus the addition of its Industry Digital Transformation Group and Next-Generation Energy Business Group, MC’s current activities have expanded far beyond its traditional trading operations to include project development, production and manufacturing operations, working in collaboration with our trusted partners around the globe. With an unwavering commitment to conducting business with integrity and fairness, MC remains fully dedicated to growing its businesses while contributing to a prosperous society.
About Tetra Pak
Tetra Pak is a world leading food processing and packaging solutions company. Working closely with our customers and suppliers, we provide safe, innovative, and environmentally sound products that each day meet the needs of hundreds of millions of people in more than 160 countries. With more than 25,000 employees around the world, we believe in responsible industry leadership and a sustainable approach to business. Our promise, “PROTECTS WHAT’S GOOD™," reflects our vision to commit to making food safe and available, everywhere.
About Mizuho Bank
Mizuho Bank is a wholly owned subsidiary of Mizuho Financial Group, one of the world's largest full-service financial institutions with over 150 years of banking experience and 60,000 employees globally. Mizuho Bank has approximately US $2 trillion in assets in 35 countries and regions outside Japan. Mizuho Bank has one of the largest customer bases in Japan and a global network of financial and business centres. Leveraging its expertise as a financial services group, Mizuho Bank is active in supporting customers in areas such as Sustainable Finance and Environmental finance, as well as harness our capabilities to provide advisory and integrated financial and non-financial solutions to help our customers achieve their low-carbon objectives.
For media inquiries, please contact:
Manola De Vos
Terrascope Communications Manager