Furukawa Electric obtains SBT WB2℃ certification for greenhouse gas emissions reduction targets

Furukawa Electric Co., Ltd. (Head Office: 2-6-4 Otemachi, Chiyoda-ku, Tokyo; President: Keiichi Kobayashi) obtained SBT WB2℃ (well-below 2℃, ^(note)) certification from SBTi (Science Based Targets Initiative) for the company’s greenhouse gas (GHG) emissions reduction targets.

Furukawa Electric Group is working to strengthen ESG management with the aim of increasing medium to long-term corporate value centered on ESG (Environment, Social, corporate Governance) in order to contribute to achieving the Sustainable Development Goals (SDGs) and realize Furukawa Electric Group Vision 2030 (hereinafter “Vision 2030”). In March 2021, we set forth Furukawa Electric Group Environmental Vision 2050 and declared our intention to achieve zero GHG emissions (Scope 1, 2) in 2050. In accordance with the Environmental Vision 2050, we revised the 2030 environmental targets in February 2022 and raised the GHG emissions reduction targets. Based on the new 2030 targets, we applied to SBTi for WB2℃ certification.

Furukawa Electric Group has obtained WB2℃ certification from SBTi for the following GHG reduction targets.

• Reduce Scope 1 and Scope 2 GHG emissions by 46% in 2030 compared to 2017
• Reduce Scope 3 GHG emissions by 20% in 2030 compared to 2019

Scope1: Direct emissions from the use of fuel and industrial processes by the company
Scope2: Indirect emissions from the use of electricity and heat purchased by the company
Scope3: Other indirect emissions from business activities, including the value chain

Along with continuing the energy saving activities at the company’s offices and works, we will effectively utilize hydroelectric power, a power source we have used continuously for over a hundred years, and further install renewable energy such as solar power. We are aiming to eliminate GHG emissions directed at becoming carbon neutral in 2050 and are promoting initiatives throughout the value chain to achieve the 2030 environmental targets. In addition, in order to contribute to achieving the SDGs and realize Vision 2030, we will enhance the disclosure of information and increase the reliability of that information and thereby promote mutual trust with all stakeholders.