The World Business Council for Sustainable Development (WBCSD) defines CO2 Avoided Emissions as the difference between the CO2 emitted from the continued use of existing products and services and those resulting from the introduction of efficient new products and services. However, this definition is not standardized internationally, and some industries are not clearly measured, so it is not widely used.
We have been leading discussions by stressing the importance of using Avoided Emissions as an indicator for companies, while keeping pace with leading international organizations such as the WBCSD and the GX League and with government policies. The electronics industry is working on standardization at the IEC. If Avoided Emissions becomes an objective and clear indicator for measuring contributions to the global environment, then it should be promoted as an important management indicator across society, including capital markets, to accelerate global level CO2 reduction.
At the Japan Pavilion at COP27, a Ministry of Economy, Trade and Industry (METI) panel discussion agreed that “indexing and international standardization of CO2 Avoided Emissions is important for economic development and a decarbonized society,” and in March this year the WBCSD and GX League established guidance for Avoided Emissions. The outcome document at May’s G7 Hiroshima Summit clearly states that “we will encourage and promote private sector initiatives to encourage innovation that contributes to emission reductions of other businesses through decarbonization solutions.” These are major accomplishments.
These activities are necessary not only for Panasonic Group, but also for global and diverse industries and companies seeking to proactively accelerate solutions to global environmental problems, and we will continue to promote recognition of CO2 Avoided Emissions.