Climate-related Financial Information Disclosure（TCFD）
Basic Concept
Disclosure on four themes based on TCFD recommendations
Konica Minolta's environmental management is based on the concept of "growing our business by solving environmental challenges and also creating new businesses." The goal is to become a company that is vital to society by helping to solve climate change and other global environmental challenges while pursuing corporate growth. There is a limit to what one company can do on its own to solve the problem of global climate change. This is why Konica Minolta seeks to achieve Carbon Minus status by proactively contributing to the reduction of CO2 emissions on the planet.
Konica Minolta defines “Carbon Minus status” as "making a greater contribution to CO2 reductions (reductions other than Scope 1, 2, and 3) in areas outside the scope of our responsibility than the volume of CO2 emissions in areas we are responsible for (Scope 1, 2, and 3 emissions)." Considering recent social demands, we have decided to seek net zero CO2 emissions that fall within the scope of our responsibility. Konica Minolta hopes to accelerate the effects of decarbonization, broaden its ties with stakeholders, and grow its business together by not only fulfilling its social responsibilities but also helping all stakeholders fulfill theirs.
Note：
Scope 1: Direct emissions from company-owned and controlled resources, such as the combustion of fuel.
Scope 2: Indirect emissions from the consumption of purchased electricity, heat, and steam.
Scope 3: Emissions other than Scope 1 and 2 that occur in the company’s value chain, including those from raw material procurement, logistics, and product use.
Transition Plan to a Low-Carbon Society
Konica Minolta has set a medium-term Science Based Targets (SBT) for CO2 emissions reduction in 2030 with the aim of achieving the Paris Agreement. As a transition plan to achieve the target, the Group has established short-, medium-, and long-term measures to reduce CO2 emissions for which we it is directly responsible by setting CO2 emissions reduction measures such as the development of energy-saving production technologies, introduction of renewable energy-derived electricity, conversion of its business to a paperless operation, and consideration of CO2-free fuels.
In addition, Konica Minolta has identified “addressing climate change” as one of the five material issues to be tackled in its long-term vision. Contributing to solving social issues through our business activities helps to raise our corporate value over the medium to long term.Specifically, Konica Minolta will promote Green Product activities that incorporate value for decarbonizing products and services at the planning and development stage, Green Factory activities to achieve decarbonization during production, carbon-neutral partner activities to achieve decarbonization together with suppliers, and Green Marketing activities and the environmental digital platform to support customers' decarbonization in sales and services. In addition, Konica Minolta plans to expedite its introduction of renewable energy-derived electricity in Europe, North America, Japan, and ASEAN.As a result of transforming its business portfolio as it heads toward 2025, there is a possibility that Scope 1 and 2 emissions will increase due to business expansion, especially in the Industry Business.
Therefore, in addition to the measures above, the Company is also considering measures to reduce CO2 emissions by leveraging internal carbon pricing.At the same time, Konica Minolta will significantly reduce CO2 emissions at customer sites and help to support a recycling-oriented society. Digital solutions for on-demand production that transform the supply chains in the printing and apparel industries, functional materials that reduce the carbon footprint of products, and material and sensing technologies that improve the sortability and recycling rate of used plastics, will transform the mass production and mass disposal business model and raise the productivity of client companies, thus eliminating wasted uptime and reducing energy consumption and fossil resource use. These activities, performed through our business, are pursued as core management strategies with “contribution to CO2 reduction” and “contribution to reducing the use of natural resources*1” set as key management indicators in the medium-term environmental plan.
In 2018, Konica Minolta agreed to support the final report, “Recommendations of the Task Force on Climate-related Financial Disclosures,” of the Task Force on Climate-related Financial Disclosures (TCFD*2), established by the G20 Financial Stability Board (FSB). The Group will disclose its climate change initiatives using the TCFD framework.
*1 Natural Resources： Resources that require new drilling or mining, such as crude oil or mineral resources, and are generally synonymous with depletable resources.
*2 TCFD completed its mission and disbanded at the same time that the status report was released on October 12, 2023.
