We see global climate change and the push towards decarbonization as a business opportunity.
Along with the COVID-19 pandemic, climate change risk is another global challenge facing humanity. But we would rather tackle these issues in a positive manner. In particular, we recognize that the growing need for decarbonization is an important business opportunity. Emissions regulations are becoming increasingly stringent; however, levels vary among countries and regions. We must understand the trends in environmental regulations as well as the issues faced on-site by our customers if we are to propose suitable solutions.
For example, we have a lineup of electric construction equipment and experience with supplying trolley-powered dump trucks for mining that run on electricity from overhead wires. We recently agreed to collaborate with ABB Ltd., which is a company that possesses strengths throughout the mining process, including mining equipment management systems. Together we will continue working toward achieving net zero emissions in all aspects of mining. We not only sell environmentally friendly construction and mining equipment, but we are also entering a new area of business that includes infrastructure.
Also, as fuel consumption and efficiency varies greatly depending on the operator, we focus on customer data to propose suitable solutions. The Group uses ConSite® Mine, a solution that incorporating IoT and AI to solve issues at mining sites. We also use an operation management system to improve the operating efficiency of our products and reduce CO₂ emissions during use. In other words, we achieve our own goal to reduce machine CO2 emissions while also achieving customer goals by proposing CO₂ reductions and total efficiencies in construction and mining machinery operations.
The global trend in decarbonization is hastening the move toward the elimination of coal. We believe our duty is to reduce the CO₂ emissions of machines operating at coal mines as much as possible to both decarbonize and fulfill our social responsibilities. On the other hand, it is still important to focus on the so-called hard rocks, meaning areas that produce iron ore, copper, and nickel. In future, we plan to expand sales of mining machinery in the same regions in which they are produced, such as Central Asia and CIS. We also intend to increase sales related to the hard rocks, thereby reducing our reliance on coal-related businesses.
In light of the regional trends around the world, the Group will partner with customers and fulfill our mission to offer optimal products and solutions that help customers reduce CO₂ emissions proactively.