July 2, 2019
Yamaha Approved by SBT Initiative for Greenhouse Gas Emissions Reduction Target, Expresses Support for TCFD Recommendations
Hamamatsu, Japan, Jul 2 -- Yamaha Corporation announces that its reduction of greenhouse gas emissions target has been verified and approved by the Science Based Targets (SBT)*1 Initiative, an international environmental organization and has also expressed its support for the Task Force on Climate-related Financial Disclosures (TCFD) *2 Recommendations.
Yamaha Group's Reduction of Greenhouse Gas Emissions Target (compared to FY2017)
- Scope 1+2 *3 : 32% reduction by FY2030 (83% reduction by FY2050)
- Scope 3 *4 : 30% reduction by FY2030
One of the key strategies of the Yamaha Group's "Make Waves 1.0" medium-term management plan, announced in April 2019, is to "contribute to society through our business." By engaging in environmental conservation efforts such as sustainable use of timber, development of environmentally friendly products, and reduction of greenhouse gas (GHG) emissions, Yamaha aims to co-exist with the natural environment and contribute to the achievement of the Sustainable Development Goals (SDGs) set by UN. Yamaha's SBT-compliant medium- to long-term target of reducing greenhouse gas emissions and its related activities are one part of these efforts, and Yamaha is working more actively than ever before to achieve this target and reduce greenhouse gas emissions by shifting to renewable energy sources, installing highly energy-efficient equipment, developing energy-saving products, and streamlining distribution. Furthermore, based on the TCFD Recommendations, Yamaha is working to analyze the risks and opportunities presented to its business by climate change and reflect these in its management strategy while also disclosing information about any related financial impact.
- *1: SBT: Science Based Targets. The SBT Initiative promotes the setting of science-based targets for reducing greenhouse gas emissions in order to achieve the targets of the Paris Agreement, and also assesses and approves such targets. The SBT Initiative was established in 2015 collaboratively by four organizations: CDP (an international NGO focused on the disclosure of environmental information), the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
- *2: TCFD: Task Force on Climate-related Financial Disclosures. Established by the Financial Stability Board (FSB), whose members consist of central bank governors and finance ministers of major countries. The TCFD aims to assess and disclose information about the financial impact of risks and opportunities related to climate change, and it released the TCFD Recommendations regarding information disclosure in June 2017. Financial institutions, corporations, and governments around the world have expressed their support for the Recommendations.
- *3: Scope 1: Direct emissions from owned or controlled sources Scope 2: Indirect emissions from the generation of purchased energy, such as electric, steam, etc.
- *4: Scope 3: All indirect emissions (not included in scope 2) that occur in the value chain of the reporting company, including both upstream and downstream emissions (e.g. raw materials, parts procurement, transportation, product usage, etc.)
- *Product and company names mentioned herein are the trademarks or registered trademarks of Yamaha Corporation or their respective owners.
- *All information contained herein current as of the date of release and is subject to change without notice.