Panasonic Automotive Systems Receives SBTi Validation for Emissions Reduction Targets
Panasonic Automotive Systems Co., Ltd. has received validation from the Science Based Targets initiative (SBTi) for its greenhouse gas emissions reduction targets. These targets align with the goals of the Paris Agreement.
Yokohama, Japan – Panasonic Automotive Systems Co., Ltd. and its group companies announced today that they have received validation from the Science Based Targets initiative (SBTi) for their greenhouse gas emissions reduction targets. This validation confirms the company's commitment to climate action.
The targets cover both short-term and long-term emissions reductions across the company's operations and value chain. SBTi's approval ensures that Panasonic Automotive Systems' goals are in line with the Paris Agreement's objective to limit global warming to well below 2 degrees Celsius above pre-industrial levels and pursue efforts to limit it to 1.5 degrees Celsius.
Specifically, Panasonic Automotive Systems has committed to reducing its absolute Scope 1 and Scope 2 emissions by 50% by 2030 from a 2021 baseline. The company also aims to reduce its Scope 3 emissions by 40% within the same timeframe.
The long-term objective is to achieve net-zero emissions across the entire value chain by 2050.
This validation underscores Panasonic Automotive Systems' dedication to contributing to the fight against climate change and promoting sustainable development within the automotive sector.