Furukawa Electric obtains SBT 1.5℃ certification for greenhouse gas emissions reduction targets

- Raising the greenhouse gas emissions reduction targets with the aim of becoming carbon neutral in 2050 -

August 3, 2023

Obtained 1.5℃ certification from the global environmental initiative SBTi
With the aim of becoming carbon neutral in 2050, raised the 2030 greenhouse gas emissions reduction target
Continuing to promote ESG management in order to realize Furukawa Electric Group Vision 2030 and the SDGs

Furukawa Electric Co., Ltd. (Head Office: 2-6-4 Otemachi, Chiyoda-ku, Tokyo; President: Hideya Moridaira) obtained SBT 1.5℃ ^{(note 1)} certification from SBTi (Science Based Targets Initiative) for the company’s greenhouse gas emissions reduction targets.

Background

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 realize Furukawa Electric Group Vision 2030 (hereinafter “Vision 2030”) and achieve the Sustainable Development Goals (SDGs). In March 2021, we set forth Furukawa Electric Group Environmental Vision 2050 and declared our intention to achieve zero greenhouse gas emissions (Scope 1, 2) in 2050. We have obtained WB2℃^{(note 2)} certification from SBTi in July 2022. We revised the 2030 environmental targets. Based on the new 2030 targets, we applied to SBTi for 1.5℃ certification.

Details

Furukawa Electric Group has obtained 1.5℃ certification from SBTi for the following greenhouse gas reduction targets.

Reduce Scope 1 and Scope 2 greenhouse gas emissions by 42% in 2030 compared to 2021
Reduce Scope 3 greenhouse gas emissions from purchased goods and services and use of sold products by 25% in 2030 compared to 2021

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 greenhouse gas emissions directed at becoming carbon neutral in 2050 and are promoting initiatives throughout the value chain to achieve the 2030 environmental targets.

note 1

SBT 1.5℃: Greenhouse gas reduction target that limits the rise in global temperatures below 1.5℃ compared to pre-industrial levels
note 2

SBT WB2.0℃: Greenhouse gas reduction target that limits the rise in global temperatures to a level sufficiently below 2.0℃ compared to pre-industrial levels

SBTi (Science Based Targets Initiative）

The Science Based Targets initiative (SBTi) drives ambitious climate action in the private sector by enabling organizations to set science-based emissions reduction targets. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments.

Source:SBTi

Related News Releases (Furukawa Electric’s Approaches to Climate Change and Assessments Thereof)

Revision to Furukawa Electric Environmental Targets 2030

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

Formulation of the “Furukawa Electric Group Environmental Vision 2050”

Expression of support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)

Furukawa Electric Group’s efforts towards the SDGs

Based on the “Sustainable Development Goals (SDGs)” adopted by the United Nations, Furukawa Electric Group has formulated the “Furukawa Electric Group Vision 2030” which sets the year 2030 as its target and is advancing efforts with the aim to “Build a sustainable world and make people’s life safe, peaceful and rewarding, Furukawa Electric Group will create solutions for the new generation of global infrastructure combining information, energy and mobility.” Toward the achievement of our Vision 2030, we will take open, agile, and innovative approaches to promote ESG management that aims to increase corporate value over the medium to long term and will contribute to the achievement of the SDGs.

Furukawa Electric Group’s efforts towards the SDGs

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