Accelerating science-based reduction of Greenhouse Gas Emissions to “1.5°C Levels”
Konica Minolta, Inc. (Konica Minolta) announced that the Science Based Targets initiative (SBTi), which is an international initiative, has validated the Company’s net zero targets to 1.5°C Levels. In 2023, Konica Minolta set up its net zero goal by 2050 for Scope 1, 2 and 3 to 1.5°C Levels, increasing its 2°C target which was SBTi approved in 2017.
The SBTi was jointly established by CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) in 2015 as an organisation to help attain the target of the Paris Agreement. [1]
It helps companies to set science-based targets and validates these targets with the aim of limiting the global average temperature rise to 1.5°C.
Thus far, the net-zero targets of 1,031 companies around the world have been validated by the SBTi. In Japan, the targets of 45 Japanese companies, including Konica Minolta, have been validated. [2]
| Net Zero Target | Konica Minolta, Inc. commits to reach net zero greenhouse gas emissions (GHG) across the value chain by FY2050. (Konica Minolta, Inc. commits to reduce absolute scope 1, 2 and 3 GHG emissions [3] 90.00% by FY2050 from a FY2018 base year. The residual emissions are neutralised. [4]) |
| Near-Term Targets | Konica Minolta, Inc. commits to reduce absolute scope 1 and 2 GHG emissions 51.00% by FY2030 from a FY2018 base year. Konica Minolta, Inc. also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, use of sold products, end-of-life treatment of sold products 30.00% within the same timeframe. |
In 2017, Konica Minolta was validated by the SBTi as “science-based greenhouse gas emissions reduction targets to limit the temperature rise to less than 2°C.” In acquiring this latest validation, Konica Minolta completed the process of updating its targets in conformity with the latest SBTi Net-Zero Standard and in line with the emissions pathways to 1.5°C.
Under the philosophy “The Creation of New Value,” Konica Minolta has been promoting environmental management focusing on creating new value, in both social and economic terms, by continuing efforts to reduce environmental impact in a manner compatible with corporate growth over the entire range of its business activities.
In 2009, Konica Minolta formulated Eco Vision 2050 as its long-term environmental vision. Since then, in “addressing climate change,” the Company has worked on reducing CO2 emissions throughout the life cycle and steadily produced results. In recent years, the Company has also been focusing on introducing renewable energy: As a member of RE100, it is committed to obtaining 100% of the electricity it uses from renewable energy sources by 2050, and 50% by 2030. Currently, it is 12.3%. Four factories, Konica Minolta's European headquarters and 11 subsidiaries already use 100%, or nearly 100%, renewable electricity.
[1] An international framework adopted at the United Nations Framework Convention on Climate Change (COP21) to reduce greenhouse gas emissions with the participation of all countries and regions
[2] As of July 25, 2024
[3] Scope 1 – “Direct emissions” from companies through the use of fuel, etc.
Scope 2 – “Indirect emissions” through the use of electricity, heat, and steam supplied from other companies
Scope 3 – Emissions related to the companies’ own business activities generated in the value chain, such as procurement of raw materials, logistics, and the use of products, other than Scopes 1 and 2
[4] To neutralise emissions that cannot be reduced even through reduction initiatives in line with the 1.5°C emissions pathways (residual emissions) by means of forest absorption, carbon removal technologies, and other methods outside the value chain
