Epson GHG reduction targets approved

Epson has announced that the Science Based Targets initiative (SBTi) has approved its net-zero target and milestone targets. Epson is seeking to decarbonise and has set strategic targets for reducing greenhouse gas (GHG) emissions across its global value chain. The SBTi has validated the goals as being science-based and aligned with the 1.5 degrees Celsius goal of the Paris Agreement.

Epson says the company is working toward a solution for climate change and global warming, having articulated its long-term goals in "Environmental Vision 2050". It says it is actively working to reduce the environmental footprint of products and business activities across the value chain by drawing on the strength of its technologies. Epson first received approval for its targets in 2018; those targets were subsequently raised to align with the Paris Agreement.  

Epson has achieved its elevated targets by transitioning to 100% renewable electricity worldwide. As a result, the company has revised its next set of strategic targets.
The following data and targets were submitted to, reviewed, and approved by the SBTi.

Near-term targets
•    Reduce total scope 1 + 2 + 3 emissions by 55% by 2030.
•    Reduce total scope 1 + 2 emissions by 90% by 2030.
Long-term targets
•    Reduce total scope 1 + 2 + 3 emissions by 90% by 2050.
•    Achieve net-zero in 2050.

Reducing GHG emissions across its value chain, which accounts for 90% or more of Epson's total emissions, will require close collaboration with suppliers. To reduce the environmental impact of purchased goods and services (scope 3, category 1), Epson has launched a supplier engagement program called the "Epson Green Supply Chain." Under this program, Epson has moved to increase the accuracy of primary GHG emissions data collected from suppliers by introducing a visualisation solution. It also says that it is exploring a framework under which the company and its main suppliers jointly procure renewable electricity.

Epson has also said it is developing CO2 absorption technology as a key project in its environmental technology development. Beyond achieving its science-based targets for reduction, the company says it aims to directly contribute to society's decarbonisation by pursuing an additional goal of becoming carbon negative.