Oct 17, 2024

Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

Corporate Social Responsibility (CSR)

Osaka, Japan, October 17, 2024 – Panasonic Holdings Corporation (Panasonic HD) announced today that the Science Based Targets initiative^(*1), a global body driving ambitious corporate climate action, has verified the company’s greenhouse gas (GHG) 2050 reduction target as a “Net-Zero Science-Based Target.”

The SBTi promotes science-based GHG reduction targets for companies, aiming to limit global temperature rise to 1.5°C above pre-industrial levels. Its certification standards for short-term (2030) so-called “1.5°C Targets” and long-term (2050) “Net-Zero Targets” have become the global benchmark for corporate climate goals aligned with the Paris Agreement.

In May 2023, Panasonic HD received SBTi approval for its 1.5°C Target. Now, the company has secured verification from the body for its Net-Zero Target after submitting detailed plans to achieve net-zero emissions by 2050, in line with SBTi guidelines.

Panasonic HD's Net-Zero Target commits to reducing GHG emissions across the company’s entire value chain. This includes scope 1 emissions from the company’s own activities, as well as scopes 2 and 3 emissions, from indirect activities, by at least 90% by FY2050 compared to FY2019 levels. The company pledges to neutralize the remaining 10% through proprietary carbon removal technologies.

SBTi verification validates that a company's GHG reduction targets are appropriately set, enhancing stakeholder trust in its climate action efforts. Globally, 1,138 companies have received Net-Zero Target certification, including 52 in Japan^(*2).

Panasonic HD remains committed to achieving net-zero emissions across its value chain and contributing to GHG reductions in society, driving impact toward achieving a decarbonized world.

The Panasonic Group's SBTi 1.5℃ targets

The Panasonic Group's SBTi Net Zero target

*1: Joint initiative by CDP, UN Global Compact, World Resources Institute and World Wide Fund for Nature.
*2: As at the end of August, 2024.

Panasonic Group Environmental Initiatives

The Panasonic Group has set forth its long-term environmental vision, “Panasonic GREEN IMPACT,” with the aim of achieving both a better life and a sustainable global environment for all. Under PGI, Panasonic Group strives towards achieving virtually net zero CO₂ emissions from its own operations by 2030, and will contribute an impact of more than 300 million tons ^(*3) of reduced and avoided CO₂, which is equivalent to about 1 percent of the current global total of approximately 31.7 billion tons ^(*4) by 2050. The group also works on business activities to realize a circular economy in which resource efficiency contributes to decarbonization and reduces the consumption of limited natural resources.
Panasonic GREEN IMPACT - Corporate Information - Panasonic Holdings
https://holdings.panasonic/global/corporate/panasonic-green-impact.html

*3: CO₂ Emission factor based on 2020
*4: 31.7 billion tons of energy-derived CO₂ emissions in 2020 (Source: IEA)

The content in this website is accurate at the time of publication but may be subject to change without notice.
Please note therefore that these documents may not always contain the most up-to-date information.
Please note that German, French and Chinese versions are machine translations, so the quality and accuracy may vary.