Furukawa Electric Co., Ltd. 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’).
GHG emissions reduction targets
In March 2021, they set forth Furukawa Electric Group Environmental Vision 2050 and declared their intention to achieve zero GHG emissions (Scope 1, 2) in 2050. In accordance with the Environmental Vision 2050, they revised the 2030 environmental targets in February 2022 and raised the GHG emissions reduction targets. Based on the new 2030 targets, they 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.
Installing renewable energy
Along with continuing the energy-saving activities at the company’s offices and works, they will effectively utilize hydroelectric power, a power source they have used continuously for over a hundred years, and further, install renewable energy such as solar power.
They are aiming to eliminate GHG emissions directed at becoming carbon neutral in 2050
They 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, they will enhance the disclosure of information and increase the reliability of that information and thereby promoting mutual trust with all stakeholders.
Ambitious climate action
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.
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 their Vision 2030, they 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.