OKI Group Revises OKI Group Environmental Vision 2030/2050

- Targeting Net Zero Across Value Chain by 2050 -

OKI (TOKYO: 6703) has revised its FY2050 targets for global warming prevention in the OKI Group Environmental Vision 2030/2050 (“Environmental Vision” hereinafter) which sets forth medium- to long-term environmental goals. As a company committed to helping to resolve social issues under the key message “Delivering OK! to your life,” OKI aims to achieve net zero by eliminating CO₂ emissions from its entire value chain, including its own sites.

OKI has been strengthening initiatives in areas such as global warming prevention, with “reducing environmental impact through business activities” held as one of its material issues (materiality). In 2023, OKI obtained certification (SBT certification) from the international Science Based Targets initiative (SBTi) (Note 1) for its FY2030 greenhouse gas emission reduction targets outlined in the Environmental Vision as levels that are consistent with scientific knowledge. In this revision to the Environmental Vision, OKI sets out to achieve the net zero goal across its value chain, including its own sites, as its FY2050 targets. OKI plans to obtain SBT certification for these long-term targets as well.

[OKI Group Environmental Vision 2030/2050 (Overview)]

(1) Prevention of Global Warming

FY2030: 42% CO₂ emissions reduction at OKI sites*¹ and 25% CO₂ emissions reduction at suppliers*² and from the use of products*³ (compared to FY2020)

FY2050: Net zero CO₂ emissions at OKI site and the entire value chain*⁴, Net zero power consumption by new products

(2) Contribution to Achieving SDGs

FY2030: Through (i) and (ii) below, contribute to achieving the targeted reductions in environmental impact set out by the 2030 SDGs

(i) Generate innovative products and services and provide solutions conducive to resolving a wide range of environmental issues. Environmental Contribution Product Net Sales Ratio of 50% or more.

(ii) Realize innovative technologies for manufacturing and creating things in the value chain, including workplaces

FY2050: In addition to preventing global warming and adapting to climate change, we will promote innovation in products and services that contribute to solving environmental issues, and support social infrastructure by promoting development and provision.

*1 SCOPE1 (CO₂ generated by fuel use at company sites, leakage of alternative chlorofluorocarbons in air conditioners, use of company vehicles, etc.) + SCOPE2 (CO₂ generated from electricity use at company sites)

*2 Category 1 of SCOPE3 (CO₂ generated from the manufacture of procured items related to purchased products and services: Calculated as "procurement cost of raw materials and other materials x CO₂ emission factor by item".)

*3 Category 11 of SCOPE3 (CO₂ generated by use of sold products: Calculated as "annual power consumption of the product x estimated useful life x number of units sold x CO₂ emission factor of the area of use".)

*4 Reduce CO₂ emissions by more than 90% compared to FY2020, covering 90% of all SCOPE1 to 3 categories, and achieve Net zero through neutralization by carbon removal, etc.

Net zero targets are considered difficult to achieve. Only some 30 companies in Japan currently have had their net zero targets officially certified by SBTi. OKI aims to achieve these targets by promoting energy saving and renewable energy use to help prevent global warming at its own sites; by enhancing communication with suppliers; and by developing and providing innovative products and services that help resolve environmental issues.

[Related links]

• OKI Environmental Vision 2030/2050: OKI Group medium-to-long-term environmental targets

https://www.oki.com/en/sustainability/eco/mng/vision.html

• OKI Group Obtains SBT Certification for Greenhouse Gas Emission Reduction Targets

https://www.oki.com/en/press/2024/02/z23060e.html

[Explanation of terminology]

Note 1: SBTi

A joint initiative by the WWF, CDP, World Resources Institute (WRI), and the United Nations Global Compact. It encourages companies to set reduction targets that are consistent with scientific knowledge, with the aim of limiting the rise in global average temperature due to climate change to 1.5 degrees Celsius compared to pre-industrial levels.

About Oki Electric Industry Co., Ltd. (OKI)

Founded in 1881, OKI is Japan's leading information and telecommunication manufacturer. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its Public Solutions, Enterprise Solutions, Component Products, and Electronics Manufacturing Services businesses. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global website at https://www.oki.com/.

Notes:

- Oki Electric Industry Co., Ltd. is commonly referred to as OKI.

- The company names and product names mentioned in the text are generally the trademarks or registered trademarks of their respective companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240418889188/en/