Globally, an increasing number of countries are setting carbon neutrality targets for 2050, and Japan is also striving to achieve this goal. In offshore wind power, the Act on Promoting the Utilization of Sea Areas for Renewable Energy Generation was enacted in 2019, and amendments to this law have been approved by the cabinet to enable offshore wind power generation in the Exclusive Economic Zone (EEZ), demonstrating progress in the legal framework.
Since becoming the first Japanese company to participate in offshore wind projects in the UK in 2011, the Marubeni Group has pioneered numerous offshore wind initiatives. These include acquiring Seajacks, which owns offshore wind installation vessels; floating demonstration projects off Fukushima, Kitakyushu, and southern Akita; Japan's first commercial project at Akita Port and Noshiro Port; the UK Ossian Project; and the Yuza Town offshore wind project in Yamagata Prefecture. Through these projects, we have accumulated extensive knowledge, experience, and networks.
Our company (MOWD) was established in spring 2020, and we have formulated the MOWD COMPASS. This defines our "Mission" as our reason for being, "Style" as our core values, and "Vision" as our aspirational future, serving as our common compass. With this compass as our guide, and under the concept of "Let's tackle the impossible together," we aim to create a new future through offshore wind projects in collaboration with society, local communities, and our employees.
I personally place great emphasis on community coexistence and thorough safety management.
As a company developing and operating offshore wind power projects, we are committed to building mutually beneficial relationships to earn the trust of local communities. Additionally, since offshore wind involves marine operations requiring strict safety measures, we believe in prioritizing thorough safety management and personnel development.
Not only striving to create green energy through offshore wind, but we also contribute to achieving the 1.5°C goal set forth in the 2015 Paris Agreement through our bold efforts toward the social integration and stable operation of offshore wind power generation. We aim to be a group of professionals who listen to the voices of local communities and those involved in our projects to create a new future together.