Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
February 25, 2021
London, 25 February 2021 --- Hitachi, Ltd. (TSE: 6501, "Hitachi") today announces it has joined the UN Race to Zero campaign through the Business Ambition for 1.5°C and commits to aligning its business with the most ambitious aim of the Paris Agreement - to limit global temperature rise to 1.5°C above preindustrial levels.
Hitachi has several long-term environmental targets, including striving to achieve carbon neutrality at all its business sites (factories and offices) by fiscal 2030 and to achieve an 80% reduction in CO2 emissions across the company's value chain by fiscal 2050, compared to fiscal 2010. The target at all business sites aligns with the Business Ambition for 1.5°C pledge.
"We have an environmental vision to pass on a prosperous planet to future generations. To achieve our vision, we know that all of society needs to be low carbon, resource efficient and harmonized with nature. As countries and businesses across the world build up to COP26, we are proud to be joining the UN Race to Zero campaign" said Alistair Dormer, Chief Environmental Officer.
"It is great to see Hitachi joining Race to Zero and very encouraging to see its ambitious low carbon plans. We encourage all companies to step up with the same level of ambition and join the Race to Zero" said Nigel Topping, COP26 High Level Climate Action Champion.
Hitachi's long-term environmental targets called Hitachi Environmental Innovation 2050 map out the company's environmental plans for the next 10 and 30 years. The targets include improvement in the efficiency of the use of water and other resources by fiscal 2050 compared with fiscal 2010 and minimizing the impact on natural capital.
Hitachi's business strategy, as outlined in its 2021 Mid-term Management Plan, is to be a global leader through its Social Innovation Business and to run the business in a way that prioritizes social, environmental, and economic value. In line with this ambition, Hitachi uses its business to solve environmental challenges such as reducing CO2 emissions by working to improve the energy efficiency of products and services.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company's consolidated revenues for fiscal year 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and it employed approximately 301,000 people worldwide. Hitachi drives digital innovation across five sectors - Mobility, Smart Life, Industry, Energy and IT - through Lumada, Hitachi's advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. Its purpose is to deliver solutions that increase social, environmental and economic value for its customers. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
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