Ricoh Company Ltd. has obtained approval from the international science based targets initiative (SBTi) in recognition of their greenhouse gas (GHG) reduction targets, meeting its new Group Environmental Goals.
The company, with headquarters in Tokyo, will become the first Japanese company to join the international initiative RE100 which consists of companies committed to using 100% renewable energy. Ricoh will switch to using at least 30% renewable energy by 2030, and targets 100% by 2050.
By the year 2030, Ricoh intends to reduce the company’s GHG scope 1 and 2 emissions by 30% and scope 3 emissions by 15% compared to a 2015 base-level. Scope 1 and 2 emissions include all direct GHG from the company’s own manufacturing plants, offices and vehicles as well as indirect GHG emissions from the consumption of electricity and heat. Ricoh aim to achieve zero GHG emissions across the entire value chain by 2050. This even includes scope 3 emissions which are emissions in the supply chain of business activities.
In order to achieve these goals, Ricoh intend to promote energy conservation activities and proactively use renewable energy. Furthermore, the company will implement development of energy-saving products and aim to cooperate with business partners to promote zero – carbon emissions.
Cynthia Cummis, WRI’s Director of Private Sector Climate Mitigation and member of the SBTi steering committee, said: “We congratulate Ricoh on having their science-based target approved by our team. Having a validated target ensures that the company has defined a decarbonization pathway for itself that is ambitious and aligned with the goals of the Paris Agreement. By setting a science-based target, Ricoh will demonstrate to its peers and other stakeholders that this is a clear way of future-proofing growth in the transition to the low-carbon economy.”
The SBTi was established in 2015 with the aim of promoting the achievement of GHG emission reduction targets in order to limit the increase in temperature to below 2°C. These goals are in line with the Paris Agreement, an international agreement adopted in 2015 with commitment to realize a zero-carbon society.