Business Strategy NGK Insulators Sets Target for Net Zero Volume of CO2 Emissions by 2050
NGK Insulators has recently announced the ‘NGK Group Environmental Vision for 2050’ along with its Fifth Five-Year Environmental Action Plan, which commences from FY2021. The Action Plan includes initiatives toward carbon neutrality, a recycling-oriented society, and harmony with nature, in line with the Environmental Vision.
Aichi/Japan – As a policy that represents the E (Environment) in this ESG management, the company announced the NGK Group Environmental Vision, which established targets such as net zero volume of carbon dioxide (CO2) emissions by 2050.
With regard to the environmental action plan, which is formulated every five years, the Group formulated the Fifth Five-Year Environmental Action Plan, which continues development of previous action plans, and established concrete goals as an initiative for an initial five-year period (FY2021-FY2025) in order to achieve the NGK Group Environmental Vision.
The Group will contribute to the realization of the society’s direction toward ‘carbon neutrality,’ ‘a recycling-oriented society,’ and ‘harmony with nature’ through its business activities. The firm will develop and provide products and services that contribute to the realization of a carbon-neutral society and apply them to its own business activities in order to achieve its goal of net zero CO2 emissions by 2050.
The company will contribute to the realization of a recycling-oriented society by reducing its natural resource consumption and developing and providing resource-efficient products. The company will minimize its environmental impact on ecosystems and raise stakeholder awareness through educational activities in order to achieve harmony with nature.
With regard to carbon neutrality, the firm has formulated the Carbon Neutrality Strategic Roadmap in order to achieve its goals. The company has also set a milestone (mid-term goal) of reducing CO2 emissions by 50 % from FY2013 to FY2030. In order to achieve its goals ahead of schedule, the company will promote technology related to hydrogen and CCU/CCS (Carbon dioxide Capture and Utilization / Carbon dioxide Capture and Storage).
Outline of the Fifth Five-Year Environmental Action Plan
The Group establishes initiatives toward carbon neutrality, a recycling-oriented society, and harmony with nature, which are themes related to the NGK Group Environmental Vision, as priority items. For initiatives toward carbon neutrality, which is a particularly urgent issue, the company has established the following goals for FY2025, the final year of the plan.
CO2 emissions: 550,000 metric tons (Reduce by 25 % from FY2013)
Although the company previously used basic unit per net sales as a management index for CO2, it has established net zero CO2 emissions by 2050, which is a goal of the NGK Group Environmental Vision, as a back casting goal.
Renewable energy use rate: 50 %
The company has established a new target for renewable energy use rate concerning electricity consumption by the NGK Group. Achieving this target will not only bring the NGK Group closer to achieving net zero carbon emissions but also help promote more widespread adoption of renewable energy in the society.