Climate-related Financial Information Disclosure（TCFD）
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.
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 helping to build a low-carbon society. 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 the solving of 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 move up its plan to introduce 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 the expansion of business, especially 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 hyperspectral imaging that improves 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.
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), established by the G20 Financial Stability Board (FSB). The Group will disclose its climate change initiatives using the TCFD framework.