Panasonic Group is pledging to “create impact” that reduces CO₂ emissions by more than 300 million tons, or about 1 per cent of the current total global emissions of 33 billion tons, by 2050.
The company established the Panasonic Environmental Vision 2050 in 2017, which is aimed at reducing energy consumption and generate a surplus of clean energy.
Panasonic said it has decided to replace its energy-focused targets with CO₂ reduction goals in order to tackle global environmental issues and “clearly show the value of our progress. Panasonic Group will contribute to global carbon neutrality by creating impacts that reduce our own CO2 emissions and contribute to reducing the CO₂ emissions of society,” it added.
The company has established a number of new long-term environmental goals, which have been set by reviewing impacts in four categories based on the scope, method and time frame of CO₂ reduction.
It is aiming to achieve all four goals by 2050. They are:
- Emissions reduction in the value chain Targeting a reduction of 110 million tons of CO₂ emissions from the Group’s value chain (Scope 1, 2 and 3) by focusing on three areas including lighting, air conditioning, and ventilation. These areas combined account for 80 per cent of the energy used during product usage and will reduce Scope 3 emissions generated by Panasonic’s customers.
- Avoided emissions by existing businesses Targeting a reduction of 100 million tons of CO₂ emissions through energy saving its customers in such existing business areas as automotive batteries, supply chain software, and air quality and air conditioning.
- Avoided emissions through new technologies and businesses Targeting a reduction of 100 million tons of CO₂ emissions through the transformation of renewable energy consumption by society and the innovation of new technologies and solutions such as hydrogen energy devices, etc.
- Impact of repercussions in energy transformation for society Promoting renewable energy in society through business activities and communication activities within the other three goals.