Panasonic Group Announces Global CO2 Emission Reduction Goal by 2050

11:02:13 AM | 4/12/2022

Panasonic Group announced its commitment to creating an impact that reduces CO2 emissions by more than 300 million tons, or about 1% of the current total global emissions of 33 billion tons, by 2050.

Established in 2017, the Panasonic Environmental Vision 2050 aimed to reduce energy consumption and generate a surplus of clean energy. The transition to Panasonic GREEN IMPACT highlights the Group’s shift in focus to actively address how much we can contribute to the challenges of global society towards carbon neutrality, rather than comparing the volume of clean energy we create to the volume we used.

In line with this transition, we have decided to replace the Group's energy-focused targets with CO2 reduction goals in order to tackle global environmental issues and clearly show the value of our progress. Panasonic Group will contribute to global carbon neutrality by creating impacts that reduce our own CO2 emissions and contribute to reducing the CO2 emissions of society.

The four goals of Panasonic GREEN IMPACT

Goals of the new long-term environmental vision are set by reviewing impacts in four categories based on the scope, method and time frame of CO2 reduction. We aim to achieve all four goals by 2050.

Impact 1: Emissions reduction in the value chain

Targeting a reduction of 110 million tons of CO2 emissions from the Group's value chain (Scope 1, 2 and 3) by focusing on three areas including lighting, air conditioning, and ventilation. These areas combined account for 80% of the energy used during product usage and will reduce Scope 3 emissions generated by our customers.

Impact 2: Avoided emissions by existing businesses

Targeting a reduction of 100 million tons of CO2 emissions through energy saving for customers in such existing business areas as automotive batteries, supply chain software, and air quality and air conditioning.

Impact 3: Avoided emissions through new technologies and businesses

Targeting a reduction of 100 million tons of CO2 emissions through the transformation of renewable energy consumption by society and the innovation of new technologies and solutions such as hydrogen energy devices, etc.

Impact 4: Impact of repercussions in energy transformation for society

Promoting renewable energy in society through business activities and communication activities within Impact 1-3.

We are committed to working together with our customers and society to achieve an overall reduction of more than 300 million tons of CO2 emissions.

D.A (Vietnam Business Forum)