Olympus sets its sights on achieving net-zero greenhouse gas emissions across the supply chain by 2040
TOKYO, Nov 30, 2023 – (JCN Newswire) – Olympus Corporation (Olympus), a global MedTech company committed to making people’s lives healthier, safer and more fulfilling, has announced that the Science Based Targets initiative(SBTi)[1] has verified Olympus’s net-zero[2] science-based target by 2040. The net-zero target, part of the Company Strategy unveiled in May 2023, aims to achieve net-zero greenhouse gas emissions (Scope 1, 2, and 3[3]) for the entire supply chain by 2040 and has been certified as a goal consistent with the 1.5 degrees Celsius increase limit target outlined by the Paris Agreement. An additional near-term target is to reduce absolute Scope 1 and 2 GHG emissions by 70% by FY2031.
Olympus believes that addressing climate change and ecosystem deterioration caused by human activities is crucial to safeguarding the environment and preventing further pollution. In May 2021, the company added “carbon neutral society and circular economy” to its materiality items. In May 2023, it announced a target of achieving net-zero greenhouse gas emissions across the entire supply chain (Scope 1, 2, and 3) by 2040 to help build a decarbonized society. Now, Olympus’ near-term target and net-zero target have been certified by SBTi as consistent with the 1.5 degrees Celsius increase limit target outlined by the Paris Agreement.
Olympus’ net-zero target
Olympus commits to reach net-zero GHG emissions across the value chain by 2040.
Olympus’ near-term targets
Olympus commits to reduce absolute scope 1 and 2 GHG emissions by 70% by FY2031 from a FY2020 base year.
Olympus also commits that 80% of its suppliers by emissions covering purchased goods and service, capital goods, and upstream transportation and distribution will have science-based targets by FY2028.
Comment from Yasuo Takeuchi, Olympus Director, Representative Executive Officer, and Executive Chairman and ESG Officer:
“Olympus has incorporated the concept of ESG into our corporate strategy toward the realization of Our Purpose of “making people’s lives healthier, safer and more fulfilling” and is actively developing various initiatives. The results of our efforts to date include a 45.7% reduction in greenhouse gas emissions in FY2023 compared to FY2020 and a 71.9% introduction rate of electricity derived from renewable energy. We recognize that this progress acknowledges our efforts towards setting and working to achieve our targets. We will continue to improve manufacturing, promote energy saving and introduce renewable energy at Olympus sites globally while implementing measures to develop environmentally-conscious products, improve logistics efficiency, set voluntary reduction targets in cooperation with suppliers, and support decarbonization initiatives.”
Comment from Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative:
“Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change.