In brief
FUJIFILM Holdings Corporation says it has been named to CDP’s annual A List for climate action. The company links its environmental work to its Sustainable Value Plan 2030 and Green Value Climate Strategy, including a target to cut carbon dioxide emissions across the product lifecycle by 50% by FY2030, compared with FY2019. Fujifilm says this target has been recognized by the Science Based Targets initiative as aligned with the Paris Agreement’s 1.5°C goal. The company also plans to use a virtual power purchase agreement from the second half of 2025 to offset all electricity consumption at its U.S. and Canadian operations, about 300,000 MWh annually. Fujifilm says that amount is equivalent to avoiding approximately 90,000 tons of annual CO2 emissions. It also describes plans to reduce emissions at its European sites.
Key takeaways
- FUJIFILM Holdings says CDP named it to its annual A List for climate action.
- The company targets a 50% reduction in product-lifecycle CO2 emissions by FY2030, against FY2019 levels.
- A planned virtual power purchase agreement is intended to offset electricity use in the United States and Canada from the second half of 2025.
- The company says it is pursuing lower-carbon operations and renewable energy use at European sites.
TOKYO, February 6, 2024 -- FUJIFILM Holdings Corporation today announces that the Company is named to the prestigious annual “CDP*1 A List,” for its leadership in climate action.
“As we celebrate our 90th anniversary, our commitment to preserving the environment remains ingrained in our organizational DNA which began with our first steps in manufacturing photographic film with clean water and air in Ashigara, Japan” says Teiichi Goto, president and chief executive officer, representative director of FUJIFILM Holdings Corporation. “Moving forward, it is our unwavering responsibility to provide products and services needed by society while achieving lower carbonization of products and services, and also to develop and provide innovative solutions for a decarbonized society through the use of digital technology and other means.”
CDP, originally known as Carbon Disclosure Project, is a global non-profit organization that surveys corporate environmental disclosure on behalf of more than 740 institutional investors, with approximately 23,000 companies responded to the survey. The results of this survey are also used in the world's leading Socially Responsible Investment Index (SRI Index), which evaluates corporate activities from an ESG (environment, society, and governance) perspective.
Under Fujifilm’s corporate social responsibility (CSR) plan “Sustainable Value Plan 2030,” the Fujifilm Group is working on addressing climate change and natural resource recycling. Fujifilm has set a target of reducing carbon dioxide emissions in the entire product lifecycle*2 by 50% by FY2030 compared to FY2019 level. This target has been recognized by the Science Based Targets (SBT) Initiative*3 to achieve the Paris Agreement's "1.5°C target"*4. Through the Fujifilm Group’s "Green Value Climate Strategy" environmental strategy, the company is manufacturing with a lower environmental impact and creating products and services with excellent environmental performance to achieve the goal. In addition, it is contributing to the realization of a decarbonized society by promoting investments with low-carbon opportunities based on the internal carbon pricing.
Fujifilm’s accomplishments towards decarbonization.
- To speed up the implementation of decisions made by the company’s ESG Committee, which is chaired by the president, Fujifilm established the GX Committee as a subordinate organization to the ESG Committee, which is composed of managers from all business divisions, as well as development, production, and procurement departments. It manages the progress of environmental measures in each business area.
- The Fujifilm Group has decided to implement a virtual power purchase agreement*5 to offset 100% of the company’s total electricity consumption, approximately 300,000 MWh/year, used in the United States and Canada from the second half of 2025, which is equivalent to avoiding annual CO2 emissions of approximately 90,000 tons, or approximately 9% of the Fujifilm Group's total CO2 emissions in the fiscal year ended March 2023. In addition, Fujifilm will continue to reduce CO2 emissions globally, including plans to switch to electrify fuel-using facilities at its European sites and use renewable energy.
- *1 CDP is a global non-profit that drives companies to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Working with over 746 institutional investors with assets of US$136 trillion, CDP promotes companies to disclose and manage their environmental impacts.
- *2 Procurement" of raw materials, "manufacture," "transportation," "use," and "disposal" of products.
- *3 An international collaborative initiative of the CDP, the United Nations Global Compact, WRI (World Resources Institute) and WWF (World Wide Fund for Nature) that validates science based GHG emission reduction targets and promotes best practices in emission reduction activities.
- *4 A goal to limit global warming to a maximum increase of 1.5°C above pre-industrial levels under the Paris Agreement.
- *5 A long term power purchase agreement between a consumer and an energy company. A consumer company procures only the environmental value of renewable electricity generated by a power plant located off the company’s premises of the company and purchases the electricity from a power company or an electricity market.
Contact
Media contact
FUJIFILM Holdings Corporation
Coprorate Communications Division,
Public Relations Group
- * Please note that the contents including the product availability, specification, prices and contacts in this website are current as of the date of the press announcement and may be subject to change without prior notice.
If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). We will respond and rectify the situation in the next 8 hours.
Questions around this news
What does CDP’s A List recognize?
CDP’s A List recognizes organizations for leadership in environmental action and disclosure. The release says the annual list is based on CDP’s corporate environmental disclosure survey, which covers topics including climate change. It does not describe the specific scoring criteria used to place organizations on the list.
What climate target has Fujifilm set for 2030?
The release says the group aims to reduce carbon dioxide emissions across the entire product lifecycle by 50% by fiscal year 2030, compared with fiscal year 2019. It says the Science Based Targets initiative recognized the target as aligned with the Paris Agreement’s 1.5°C goal.
What is a virtual power purchase agreement?
A virtual power purchase agreement is a financial arrangement linked to electricity from a renewable energy project, often located away from the buyer’s facilities. The buyer typically receives the renewable energy’s environmental attributes, while electricity itself is supplied through the power grid or purchased separately from an electricity provider or market.
What does the release say about Fujifilm’s renewable electricity plans in North America?
The release says the group plans to use a virtual power purchase agreement beginning in the second half of 2025 to offset all electricity consumption at its United States and Canada operations. It describes that consumption as approximately 300,000 MWh per year and estimates the arrangement would avoid approximately 90,000 tons of annual CO2 emissions.
