Global Change
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Strategy -Information Disclosure Based on TCFD Framework-

Climate change poses one of the most pressing challenges to global society. The Paris Agreement represents a major international initiative to address this issue. The agreement aims to decrease global warming by keeping the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels. For this goal it calls for efforts to attain “a balance between anthropogenic emissions by sources and removal by sinks of greenhouse gases in the second half of this century.” In order to support this international endeavor, the Ricoh Group has set long-term environmental goals to achieve zero GHG emissions across the entire value chain by 2050, promoting activities to contribute to decarbonizing economics beyond its own business operations.

Results of scenario analysis

We have performed scenario analyses using the TCFD framework. Results have confirmed that Ricoh faces no serious risks from the transition to a decarbonized society. That is, given our long-established sustainability management, our business is unlikely to suffer severely from the growing international momentum toward decarbonization. On the contrary, we have recognized solid potential in the transition, seeing it as an opportunity to provide products and services to support customers’ decarbonization efforts by leveraging our energy-saving techniques and services in the printing segment, as well as expanding or creating new businesses in the environment and energy segment. It has also been confirmed, however, that we are exposed to threats of extreme climate events, which will likely intensify as global warming progresses and disrupts the entire supply chain, bringing about a significant impact on our business.

Based on the results of our impact assessments, we have begun to revise our long-term environmental goals in reference to the Special Report on Global Warming, which advocates restricting the temperature increase to 1.5°C above pre-industrial levels, in order to be able to contribute to a smooth global decarbonization process. Also, we will enhance BCP to increase our resilience against ever-intensifying climatic abnormalities while working to expand our environment and energy businesses. We have disclosed basic information based on the TCFD framework, and plan to offer opportunities to exchange opinions with our stakeholders, seeking to improve our activities.

Recommended
Disclosures
Ricoh’s Action

Governance

Disclose the organization’s governance around climate-related risks and opportunities.

  • CEO-chaired ESG Committee established to ensure management-level supervision for climate change-related activities
  • ESG Committee discusses proposals for decarbonization roadmaps, confirms progress toward environmental goals, and decides on investments in decarbonization-related projects
  • The Group’s climate change action plans approved by ESG Committee and implemented under the leadership of the Sustainability Management Division

Strategy

Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning.

  • Contribution to SDGs given priority in formulating a Mid-Term Management Plan
  • “Zero-carbon Society” included in the five material issues
  • Risks and opportunities identified through scenario analysis and confirmed by ESG Committee

Risk Management

Disclose how the organization identifies, assesses, and manages climate-related risks.

  • Risk Management Committee established to manage major focus managerial risks, which are risks that can significantly affect business performance categorized into two groups: strategic risks and operational risks
  • Potential impacts from climate change included in major focus managerial risks

Metrics and Targets

Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities.

  • SBT-certified medium- to long-term environmental goals
  • Joins the RE100 initiative; targets set for introducing renewable energy
  • Environmental action plans developed in accordance with the Mid-Term Management Plan to achieve medium- to long-term environmental goals

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