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News Release
Revision of FY2030 Goals in Environmental Vision 2050
March 31,2022
Fuji Electric Co., Ltd.
Fuji Electric Co., Ltd. (headquartered in Tokyo, Japan; led by President Michihiro Kitazawa) is pleased to announce that it has revised the FY2030 Goals in its Environmental Vision 2050.
The pace of decarbonization related to climate change has accelerated in the international community and, in response to COP26,*1 the 1.5°C target*2 has been identified as the standard level for major countries. The environmental assessment of companies has also been raised to the 1.5°C level.
Against this backdrop, Fuji Electric has set a new goal for reducing greenhouse gas emissions throughout the supply chain for the 2030 Goals of its Environmental Vision 2050. It has revised its goal for reducing greenhouse gas emissions in production, with FY2019 as the base year for application for SBT*3 certification.
Also, to contribute to reducing society’s CO2 emissions through our products, the company will expand its energy and environment business with a higher goal of more than 59 million tons per year.
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*1
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The United Nations Climate Change conference (held in December 2021)
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*2
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The goal to pursue efforts to limit the average global temperature increase to 1.5°C above pre-industrial levels
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*3
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The Science Based Targets initiative (SBTi) jointly established by the UNGC (United Nations Global Compact), CDP (Carbon Disclosure Project), WRI (World Resources Institute), and WWF (World Wildlife Fund). An organization that examines and certifies whether the greenhouse gas emissions reduction targets established by companies and organizations in each country are “targets consistent with scientific knowledge” in line with the Paris Agreement.
Environmental Vision 2050
FY2030 Goals
*Underlined parts indicate revisions
To suppress the temperature rise to 1.5°C above pre-industrial levels, we aim to achieve the following goals.
● Reduce greenhouse gas emissions throughout the supply chain by over 46% [from FY2019]
● Reduce greenhouse gas emissions in production by over 46% [from FY2019]*
● Contribute to reducing society’s CO2 emissions through our products by over 59 million tons per year
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*
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54% reduction from FY2013
■ Main measures to achieve the goals
1. Reduce greenhouse gas emissions throughout the supply chain (Scope 1*4 + 2*5 + 3*6)
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Promote the widespread use of clean energy and the improvement of the energy efficiency of energy-saving products
2. Reduce greenhouse gas emissions in production (Scope 1 + 2)
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Achieve an energy-saving effect by replacing production equipment
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Introduce solar power at our business sites
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Purchase renewable electricity (certificates) and emissions credits
3. Contribute to reducing society’s CO2 emissions through our products
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Spread and expand clean energy and energy-saving products
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*4
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Scope 1: Direct emissions of greenhouse gases by businesses themselves, such as fuel combustion
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*5
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Scope 2: Indirect emissions of greenhouse gases from the use of electricity supplied by other companies
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*6
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Scope 3: Indirect emissions of greenhouse gases emitted in the supply chain other than Scope 1 and 2
■ Fuji Electric’s TCFD initiatives
In 2020, Fuji Electric expressed its support for the TCFD, an international framework that promotes the analysis and disclosure of the financial impacts of climate change. Fuji Electric has revised its governance, long-term risks/opportunities and adaptation measures, risk management, and indicators and goals, which it discloses on its company website.
For the third year running, Fuji Electric has been selected for the CDP A List (the highest rating), as a company engaged in excellent activities and information disclosure for climate change.
