TOKYO, December 14, 2022 – Ricoh's global leadership in corporate sustainability has been recognized once again with its inclusion in the 2022 climate change “A List” by CDP*, a non-profit organization that runs the leading global disclosure system for environmental impact.
The CDP “A List” comprises companies recognized as global leaders who demonstrate excellence in their actions, strategies, and results in responding to climate change. CDP evaluated over 10,000 companies worldwide this year, and the climate change 2022 “A List” includes 283 companies, of which 74 are Japanese. This is Ricoh's third consecutive year on the A List since 2020.
Climate change is one of the most serious challenges facing global society. Ricoh has positioned the “realization of a zero-carbon society” as one of its seven material issues to help tackle this challenge. To achieve this, Ricoh set ESG targets for renewable energy utilization rate and GHG (greenhouse gas) reduction rate and has been working to resolve social challenges through business.
To realize a zero-carbon society, Ricoh will reduce GHG emissions from our group companies by 63% by 2030, compared to 2015, and reduce GHG in the entire supply chain by 40%, compared to 2015, by 2030. These environmental targets have been certified as “1.5°C targets” by the SBT Initiative (SBTi). In addition to promoting decarbonization initiatives within the Group, Ricoh also holds briefing sessions for suppliers to ensure that they meet the GHG reduction targets aligning with the SBTi 2°C criteria. Ricoh has also set a goal of boosting the renewable energy ratio used in our business activities to 50% by 2030 and introduced a comprehensive evaluation system for renewable electricity in 2021.
Ricoh committed to the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) in 2018 and is working to enhance information disclosure based on the TCFD framework. To give our stakeholders a deeper understanding of Ricoh's climate strategies and initiatives, we have issued an annual TCFD Report since 2021. In addition, the CEO is actively involved in climate-related initiatives and exchanges opinions with the Japanese government toward realizing a decarbonized society.
Based on Ricoh's commitment to becoming carbon neutral by 2050, Ricoh will continue to promote the realization of a zero-carbon society throughout its value chain through intensive energy conservation activities, proactive renewable energy utilization, and active participation in international initiatives.
CDP is a global non-profit organization that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform, and a record-breaking over 18,700 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don't disclose or provided insufficient information are scored an F.
Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.
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Headquartered in Tokyo, Ricoh Group has major operations throughout the world and its products and services now reach customers in approximately 200 countries and regions. In the financial year ended March 2022, Ricoh Group had worldwide sales of 1,758 billion yen (approx. 14.5 billion USD).
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