Hitachi Achieves CDP’s Highest Score of "Grade A" in Climate Change and Water Security
Hitachi‘s first award of the highest possible score across two categories
Tokyo, December 7, 2021 – Hitachi, Ltd. (TSE: 6501, ”Hitachi”) has been awarded the highest score of “Grade A“ by global environmental non-profit charity CDP, in the categories of climate change and water security. CDP evaluated Hitachi’s pioneering initiatives and disclosure of information for tackling climate change, as well as acting to protect water security. This is the first time Hitachi has simultaneously been included in an “A List” in two themes, and the third consecutive year that Hitachi has been included in water security.
Hitachi has set its long-term environmental targets, issuing its plan "Hitachi Environmental Innovation 2050," to help realize a sustainable society. In the area of climate change, the Hitachi Group as a whole has set a target of becoming carbon neutral in its business sites (factories and offices) by fiscal 2030, and of achieving carbon neutrality through its entire value chain by fiscal 2050. To achieve this target, the company has introduced its Internal Carbon Pricing system, starting with investments for fiscal 2019, and executive pay linked to environmental performance from April 2021. In addition, the company plans to invest 1.5 trillion yen in R&D over the next three years, focusing on decarbonization technologies, including energy-saving technologies, to help its customers reduce their CO2 emissions and environmental impact.
In terms of the use of water resources, Hitachi has set a target of improving the efficiency of internal water usage by 50% by fiscal 2050, compared to fiscal 2010. It aims to use the water resources necessary for business continuity appropriately and efficiently, and has been working to identify and address risks related to water issues throughout the Hitachi Group. Externally, Hitachi provides water environment solutions using digital technology, and improves water infrastructure to solve global water issues.
CDP is a global non-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. The organization analyzes and evaluates the environmental initiatives and information disclosure of the world's major companies in the three themes of climate change; water security; and forests - and selects the best companies as "A list" companies each year.
Hitachi is becoming a climate change innovator and will continue to contribute to the realization of a sustainable society where people live happy and prosperous lives, through solving various ESG issues for society and customers through its Social Innovation Business, which uses data and technology to innovate social infrastructure.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, contributes to a sustainable society with a higher quality of life by driving innovation through data and technology as the Social Innovation Business. Hitachi is focused on strengthening its contribution to the Environment, the Resilience of business and social infrastructure as well as comprehensive programs to enhance Security & Safety. Hitachi resolves the issues faced by customers and society across six domains: IT, Energy, Mobility, Industry, Smart Life and Automotive Systems through its proprietary Lumada solutions. The company’s consolidated revenues for fiscal year 2020 (ended March 31, 2021) totaled 8,729.1 billion yen ($78.6 billion), with 871 consolidated subsidiaries and approximately 350,000 employees worldwide.
Hitachi is a Principal Partner of COP26, playing a leading role in the efforts to achieve a Net Zero society and become a climate change innovator. Hitachi strives to achieve carbon neutrality at all its business sites by fiscal year 2030 and across the company’s entire value chain by fiscal year 2050.
For more information on Hitachi, please visit the company's website at https://www.hitachi.com.