Ricoh Brings Forward Net-Zero Emissions Targets by 10 Years

Ricoh advances Scope 1 and 2 zero greenhouse gas emissions target to 2040, strengthens Scope 3 targets and promises end to non-renewable energy use

Japanese electronics company Ricoh is bringing forward its net-zero targets by a decade to 2040 and promising a 100% move to renewable energy use.

The firm has published new goals, designed to accelerate its move away from greenhouse gas use and to “empower” its customers to do the same.

Ricoh says the goals aim to reduce 90% of GHG emissions from 2015 through voluntary efforts and 10% through offset measures.

The new 2040 goals also include:

  • A 65% Scope 3 reduction rate in all categories from 2015
  • An expansion from 2030 Scope 3 goals in procurement, transportation and use.

Ricoh says it has developed its new numerical targets to reduce emissions by 90% with reference to Science Based Target initiative (SBTi) standards.

It has also taken into account COP28 in 2023, where it was agreed to triple renewable energy capacity and double energy efficiency improvements by 2030.

As easy as Scope 1, 2, 3?

Ricoh’s 2040 Scope 1 goal includes electrifying its gas and oil-powered facilities, actively introducing heat pumps and converting company-owned vehicles to electric vehicles (EVs).

Its 2040 Scope 2 goal includes accelerating the introduction of additional renewable energy sources by setting a target compliant with the RE100 standard.

Its 2050 Scope 3 goal includes increasing its outreach to supply chain partners and enhancing procurement of raw materials and services with lower environmental impact.

Ricoh's Scope 3 targets

Encouraging customers to reduce carbon footprint

Mikako Suzuki, Corporate Officer of Ricoh in charge of ESG and Risk Management, said: “Climate change is one of the most inevitable and pressing challenges the world faces. Ricoh’s commitment to zero GHG emissions Scope 1 and 2 by 2040 and strengthening our Scope 3 reduction efforts is not just about accelerating our own sustainability journey.

“I am excited that it will also enhance Ricoh’s support to our customers in reducing their carbon footprint and emission levels. We will continue our strides to realise a sustainable future through empowering people at work.”

In April 2017, Ricoh became the first Japanese company to join RE100 - a collaborative group of the world’s most influential businesses committed to using 100% renewable electricity.

Ricoh said that, In March 2020, it revised its environmental targets by updating its GHG reduction target for its emissions in 2030 from 30% to 63% compared to 2015.

In March 2021, it implemented a comprehensive renewable electricity evaluation system and raised the renewable electricity target to 50% by fiscal 2030.

******

Make sure you check out the latest edition of Sustainability Magazine and also sign up to our global conference series - Sustainability LIVE 2024

******

Sustainability Magazine is a BizClik brand

******

Share

Featured Articles

Sustainability LIVE – More Events to Come in 2024

Sustainability LIVE will be returning with more events in 2024 with New York, London, The Global Sustainability & ESG Awards, and Diversity & Inclusion

Sustainability LIVE New York: Meet Our Speakers

Discover the lineup for Sustainability LIVE New York. Don’t miss out on your chance to attend the two-day virtual event on 3 and 4 June 2024

The Sustainability & ESG Awards Submissions – 1 Week to Go

Just one more week to go until submissions close for The Sustainability & ESG Awards launching at Sustainability LIVE London Global Summit

American Express’s Madge Thomas joins Sustainability LIVE NY

ESG

PepsiCo CSO Jim Andrew joins Sustainability LIVE New York

ESG

Amy Brachio, EY Joins Sustainability LIVE New York

Diversity & Inclusion (D&I)