High scores for environmental initiatives and information disclosures
Seiko Epson Corporation (TSE: 6724, "Epson") has been placed for the second consecutive year on the prestigious A List for both climate change and water security by international environmental non-profit CDP, which evaluates companies' environmental activities. Epson believes it was recognized for steadily reducing greenhouse gases by proactively transitioning to renewable electricity, and for having expanded and improved the comprehensiveness of its information disclosure in line with the recommendations of the Task Force on Climate-related Financial Information Disclosure (TCFD), which quantifies management risks associated with climate change as required by CDP.
CDP evaluates companies' environmental activities on behalf of more than 590 institutional investors worldwide with a combined $110 trillion in assets. The results of the questionnaires are also used to assess companies in terms of environmental performance for the world's leading socially responsible investment (SRI) indexes used by ESG investors.
Out of the more than 12,000 companies that were evaluated, Epson was one of a small number to receive a double A, an acknowledgment that Epson is a leader in sustainability. In addition to being an important statement to institutional investors making ESG investment decisions, Epson believes that this prestigious listing sends a powerful message to customers looking for environmentally conscious products and services, as well as to business partners and other stakeholders.
As stated in Epson's Environmental Vision 2050, which was revised in March 2021, Epson seeks over the next 10 years, we will invest approximately 100 billion yen on decarbonization, closing the resource loop, and environmental technology development to reduce GHG emissions1 in the supply chain by more than 2 million tonnes.
A key milestone will be to switch to renewable energy for all of Epson's electricity needs by 20232. In addition to this investment, we will concentrate management resources on developing products and services that reduce the environmental impacts of our customers.
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