Seiko Epson Corporation has become the first company in the Japanese manufacturing industry to convert to 100% renewable electricity for all of its domestic sites - reducing its annual carbon dioxide emissions by about 250,000 tonnes. The company plans to invest 100 billion yen on decarbonization and environmental technology over the next 10 years.
|Epson's Innovation Centre in Nagano, Japan|
“Epson had planned to convert to renewable electricity at all its domestic sites by the end of the 2021 fiscal year (ending March 2022) but will achieve this ahead of schedule, meeting a milestone on the path to transitioning to 100% renewable electricity for the entire Group's power needs,” said a company press release. “As a result, Epson forecasts that it can meet approximately 40% of the Group's total annual electricity needs with renewable electricity in the 2021 fiscal year.
“With COP26 approaching and high global interest in societal issues, especially those involving the environment and energy, Epson established and is pursuing a new long-term environmental management policy called Environmental Vision 2050. To achieve the decarbonization goal set forth in the Paris Agreement, Epson has positioned renewable electricity use as a priority action in its 2025 Science Based Targets achievement scenario.”
In March 2021, describing climate change as “a serious corporate risk,” Epson announced that all of its global manufacturing sites would be converted to 100% renewable electricity in two years, enabling the company to eliminate approximately 350,000 tonnes of carbon dioxide arising from its global electricity production every year.
“As stated in Epson's Environmental Vision 2050, Epson seeks to become carbon negative and underground resource free," Epson said. "Accordingly, the company will invest approximately 100 billion yen on decarbonization, closing the resource loop, and environmental technology development over the next 10 years out to 2030. Epson will concentrate most of its management resources on the development of products and services that help to reduce environmental impacts and that also contribute to reducing the environmental impacts of its customers.
“By converting to renewable electricity earlier than scheduled, Epson will not only achieve its own environmental targets but will also help to encourage the spread of renewable electricity in society as a whole."