Home News Konica Minolta’s net zero targets validated by the SBT initiative

Konica Minolta’s net zero targets validated by the SBT initiative

| 8 August 2024

Accelerating science-based reduction of Greenhouse Gas Emissions to “1.5°C Levels”

Konica Minolta, Inc. (Konica Minolta) announced that the Science Based Targets initiative (SBTi), which is an international initiative, has validated the Company’s net zero targets to 1.5°C Levels. In 2023, Konica Minolta set up its net zero goal by 2050 for Scope 1, 2 and 3 to 1.5°C Levels, increasing its 2°C target which was SBTi approved in 2017.

The SBTi was jointly established by CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) in 2015 as an organisation to help attain the target of the Paris Agreement.[1] It helps companies to set science-based targets and validates these targets with the aim of limiting the global average temperature rise to 1.5°C.

Thus far, the net-zero targets of 1,031 companies around the world have been validated by the SBTi. In Japan, the targets of 45 Japanese companies, including Konica Minolta, have been validated.[2]

Targets Validated by the SBTi

Net Zero Target	Konica Minolta, Inc. commits to reach net zero greenhouse gas emissions (GHG) across the value chain by FY2050. (Konica Minolta, Inc. commits to reduce absolute scope 1, 2 and 3 GHG emissions[3] 90.00% by FY2050 from a FY2018 base year. The residual emissions are neutralised.[4])
Near-Term Targets	Konica Minolta, Inc. commits to reduce absolute scope 1 and 2 GHG emissions 51.00% by FY2030 from a FY2018 base year. Konica Minolta, Inc. also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, use of sold products, end-of-life treatment of sold products 30.00% within the same timeframe.

In 2017, Konica Minolta was validated by the SBTi as “science-based greenhouse gas emissions reduction targets to limit the temperature rise to less than 2°C.” In acquiring this latest validation, Konica Minolta completed the process of updating its targets in conformity with the latest SBTi Net-Zero Standard and in line with the emissions pathways to 1.5°C.

Under the philosophy “The Creation of New Value,” Konica Minolta has been promoting environmental management focusing on creating new value, in both social and economic terms, by continuing efforts to reduce environmental impact in a manner compatible with corporate growth over the entire range of its business activities.

In 2009, Konica Minolta formulated Eco Vision 2050 as its long-term environmental vision. Since then, in “addressing climate change,” the Company has worked on reducing CO₂ emissions throughout the life cycle and steadily produced results. In recent years, the Company has also been focusing on introducing renewable energy: As a member of RE100, it is committed to obtaining 100% of the electricity it uses from renewable energy sources by 2050, and 50% by 2030. Currently, it is 12.3%. Four factories, Konica Minolta's European headquarters and 11 subsidiaries already use 100%, or nearly 100%, renewable electricity.

[1] An international framework adopted at the United Nations Framework Convention on Climate Change (COP21) to reduce greenhouse gas emissions with the participation of all countries and regions

[2] As of July 25, 2024

[3] Scope 1 – “Direct emissions” from companies through the use of fuel, etc.
Scope 2 – “Indirect emissions” through the use of electricity, heat, and steam supplied from other companies
Scope 3 – Emissions related to the companies’ own business activities generated in the value chain, such as procurement of raw materials, logistics, and the use of products, other than Scopes 1 and 2

[4] To neutralise emissions that cannot be reduced even through reduction initiatives in line with the 1.5°C emissions pathways (residual emissions) by means of forest absorption, carbon removal technologies, and other methods outside the value chain

About Konica Minolta Business Solutions Europe

Konica Minolta Business Solutions Europe GmbH, based in Langenhagen, Germany, is a wholly owned subsidiary of Konica Minolta Inc., Tokyo, Japan. With its unique expertise in imaging, data processing and data-based decision making, Konica Minolta creates relevant solutions for its customers - small and medium-sized businesses, large enterprises and public sector - and solves issues faced by society.

As a digital workplace solution provider, Konica Minolta helps its clients to identify and unlock the potential digitalisation holds and reach the next level in the digital maturity of their organisation by rethinking the workplace. In support of an ‘Intelligent connected workplace’, Konica Minolta offers cloud, IT, managed print and video solution services for remote working, collaboration, workflow management and automation and security. The company’s success in driving transformation is also confirmed by IDC, since the ‘IDC MarketScape: Worldwide Print Transformation 2023 Vendor Assessment’ has named Konica Minolta a “Leader” in print transformation. Konica Minolta has been a Microsoft Global Managed Partner since 2021.

Konica Minolta's Igniting Print Possibilities offering helps printers, converters and brand owners maximise workflow automation to increase efficiency. The company delivers consultancy in all communication matters as well as top-of-the-line production, packaging as well as label printers. Its finishing devices create print products that stand out and create added value. Konica Minolta has established itself as the production printing market leader for more than a decade in Europe (InfoSource).

For an increasing number of organisations, success today is more than the narrow definition of financial prosperity – it also includes protecting the environment and having a positive impact on their workforce as well as the societies they are embedded in. With its commitment to the Sustainable Development Goals (SDGs), Konica Minolta has pledged to consistently pursue its sustainability and social responsibility goals.

The company has been repeatedly recognised for its rich history of social contribution as well as for working towards achieving the SDGs throughout its business and supply chain. Konica Minolta received a GOLD Level Recognition Medal in the EcoVadis sustainability ratings for 2024.

For its remote services, Konica Minolta was awarded the prestigious ‘Buyers Lab (BLI) 2023-2024 Pacesetter Award in Remote Service for the Western European market’ from Keypoint Intelligence.

Konica Minolta Business Solutions Europe is represented by subsidiaries and distributors in more than 80 countries in Europe, Central Asia, the Middle East and Africa. With more than 8,800 employees (as of April 2024), Konica Minolta Europe earned net sales of over EUR 2.13 billion in financial year 2023/2024.

Worldwide, the company has over 40,000 employees and is operating in over 150 countries.

For more information, please visit https://www.konicaminolta.eu/eu-en/news and follow Konica Minolta on LinkedIn, Instagram and YouTube.

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Contact

Melanie Olbrich

Senior Corporate Communications & Content Manager

melanie.olbrich@konicaminolta.eu

+49 (0)511 7404-5337