Panasonic Group Releases GREEN IMPACT PLAN 2024

Osaka, Japan - Panasonic Holdings Corporation today announced the release of its GREEN IMPACT PLAN 2024 (GIP2024). The plan will serve as a milestone toward the 2050 targets laid out in the company's long-term environmental vision, Panasonic GREEN IMPACT (PGI).

Under the banner of this long-term environmental vision, the Group hopes to contribute to both the well-being of people and society as well as a sustainable global environment. It is engaged in various activities towards reducing CO₂ emissions from its own operations to virtually net-zero by 2030 and to contribute to a total of 300 million tons (Mt)^*1 or more in avoided emissions by 2050, about 1%^*2 of the current total global emissions of 33 billion tons.

As a milestone toward achieving the goals established for 2050 and reaching the targets made for 2030 (FY2031), the GIP2024 sets out concrete actions to be completed by 2024 (FY2025). It aims to reduce CO₂ emissions in the Group's value chain (VC) and seeks to contribute to lowering CO₂ emissions in Scope 1, 2 and 3 as well as increasing avoided emissions in wider society.

The Panasonic Group understands its responsibility in working towards solving the urgent issue of climate change collectively. Through the accumulation of our efforts ("ACTs"), it will work alongside society to achieve carbon neutrality by expanding the impact of its contributions to CO₂ emission reductions.

Outline of GREEN IMPACT PLAN 2024 and targets for FY2025

・OWN IMPACT (Scope 1, 2, 3^*3): Impact on emissions reduction from the Group's VC

• - CO₂ reduction: Target of 16.34 Mt
• - Net-zero CO₂ emissions factories: 37 factories (7 factories already emissions-free at end of FY2021)

・CONTRIBUTION IMPACT: Impact on emissions reduction to society through existing businesses

• - CO₂ reduction contribution to customers and society: Target of 38.3 Mt (23.47 Mt in FY2021)

・Circular Economy (CE):

• - Recycling ratio of factory waste: 99% or more
• - Use of recycled resin: 90 kt or more (cumulative amount from FY2023-2025)
• - CE-based business models/products: 13 businesses (5 businesses in FY2021)

GREEN IMPACT targets for FY2031

•OWN IMPACT (CO₂ emissions reduction within Scope 1, 2, 3^*3): 31.45 Mt

•CONTRIBUTION IMPACT (avoided CO₂ emissions): 93 Mt

• *1 2019 energy-derived CO₂ emissions: 33.6 billion tons (Source: IEA)
• *2 CO₂ emission factor is based on the year 2020
• *3 Classification made based on GHG (Green House Gas) Protocol, the international calculation standard

• Notes:
• 1. This is an English translation from the original press release in Japanese.
• 2. In this press release, "FY2022" refers to the year ended March 31, 2022.

Media Contact:

Corporate PR Center, Panasonic Operational Excellence Company
https://news.panasonic.com/global/contacts/