This new target revises Hitachi's previous target of 80% reduction by FY2050 which was set in 2016. Hitachi will contribute to the reduction of its customer's CO2 emissions and continue to reduce environmental impact from the design stage in all its products to help develop world-class energy efficiency. Hitachi is also committed to working with partners in its supply chain, through its sustainable procurement guideline, issued in July 2021.
In addition, Hitachi announced it will spend YEN1.5 trillion (almost EUR10 billion) over a three- year period on R&D technologies to foster digital innovation. This will include research and development of high-efficiency products, energy management systems and hydrogen- related technologies to help unlock digital innovation to achieve a decarbonized society. Hitachi is a principal partner of COP26 and is committed to becoming a climate change innovator, helping governments, cities and companies cut their greenhouse gas emissions. Hitachi aims to contribute to a Net Zero society through these activities.
Alistair Dormer, Chief Environmental Officer of Hitachi, Ltd., said: "We already had science-based carbon emission targets but these new targets underline our commitment to pass on a prosperous planet to future generations. Digital technology has a key role to play in helping society reach Net Zero and today's announcement is another sign of Hitachi's commitment. As a Principal Partner of COP26 and a social, purposeful business, we need to do much more than put our own house in order. Green technology in a digital world is a real engine for growth and it's an exciting time to help cities, governments and companies cut carbon whilst accelerating our own potential as a climate change innovator.
At the end of 2020, Hitachi joined the UN's Race to Zero campaign through the Business Ambition for 1.5degC, committing to aligning its business with the most ambitious aim of the Paris Agreement - to limit global temperature rise to 1.5degC above preindustrial levels. Hitachi has taken a socially responsible approach to business since its establishment in 1910 and seeks to do business in a way that prioritizes environment, resilience and safety & security. Hitachi's Environmental Vision states 'we will resolve environmental issues and achieve both a higher quality of life and a sustainable society in collaborative creation with stakeholders.'
About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company's consolidated revenues for fiscal year 2020 (ended March 31, 2021) totaled 8,729.1 billion yen ($78.6 billion), with 871 consolidated subsidiaries and approximately 350,000 employees worldwide. Hitachi is working to increase social, environmental and economic value for its customers across six domains; IT, Energy, Industry, Mobility, Smart Life and Automotive Systems through Lumada, Hitachi's advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation.
Hitachi is a Principal Partner of COP26, playing a leading role in the efforts to achieve a decarbonized society and become a climate change innovator. Hitachi strives to achieve carbon neutrality at all its business sites by fiscal 2030 and across the company's entire value chain by fiscal 2050.
For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
Source: Hitachi, Ltd.
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