Energy Efficiency, GHG Emissions, Industrial - October 29, 2024
Panasonic's Net Zero Goals Approved by SBTi
Panasonic Holdings Corporation (Panasonic HD) announced that the Science Based Targets initiative verified the company’s GHG 2050 reduction target as a “Net-Zero Science-Based Target.”
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, according to a statement.
Panasonic HD's Net-Zero Target commits to lowering GHG emissions across the company’s entire value chain. This includes Scope 1 emissions from the company’s own activities as well as Scope 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.
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 has set forth its long-term environmental vision, “Panasonic GREEN IMPACT.” Under PGI, Panasonic Group strives toward achieving virtually net zero CO2 emissions from its own operations by 2030 and will contribute an impact of more than 300 million tons of reduced and avoided CO2, which is equivalent to about 1% of the current global total of approximately 31.7 billion tons 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.
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