Ricoh raises decarbonization targets under new ESG strategy in the latest mid-term strategy

Ricoh announced revision of its materialities and ESG targets based on the new ESG strategy under its new mid-term strategy launched in fiscal 2026. As the need for climate action grows more urgent worldwide, Ricoh will accelerate efforts to help realize a decarbonized society by raising its greenhouse gas emissions reduction targets and renewable energy adoption target for fiscal 2030.

Ricoh Group raised its fiscal 2030 target for reducing Scope 1 and 2 greenhouse gas emissions from 63% to 75%, compared with fiscal 2015 levels. The company has also strengthened its long-term target framework. Replacing its previous combined target of a 90% reduction across Scope 1, 2 and 3 emissions by fiscal 2050, Ricoh has established separate targets of a 90% reduction in Scope 1 and 2 emissions by fiscal 2040 and a 90% reduction in Scope 3 emissions by fiscal 2050. These targets have been validated under the Science Based Targets initiative's Net-Zero Standard, which aligns corporate emissions reduction targets with climate science.

Ricoh Group Environmental Goals (zero-carbon)

Ricoh also raised its fiscal 2030 renewable energy adoption target from 50% to 85%. In Japan, the company will promote responsible renewable energy procurement that does not cause environmental damage or apprehension in local communities, in line with domestic market conditions. As part of this effort, Ricoh is revising its proprietary comprehensive renewable energy evaluation system to further strengthen responsible renewable energy procurement. Introduced in 2021, the system evaluates renewable electricity sources not only on price but also on factors such as additionality that supports new power development, lower environmental impact and whether power plants are financed by local communities. In this upcoming revision, Ricoh plans to incorporate considerations such as biodiversity, human rights and proper land use as part of its broader effort to identify the factors that should be taken into account in realizing a sustainable society. The final framework will be determined based on advice from external subject matter experts including academia and environmental conservation organizations.

Ricoh Group became the first Japanese company to join RE100 in April 2017. Since then, the company has worked to increase both the use and quality of renewable energy by expanding the adoption of additional renewable energy sources, including onsite physical power purchase agreements that make effective use of space at its own facilities and offsite virtual power purchase agreements in Japan. Under its new midterm management plan, Ricoh will not only raise its decarbonization targets but also ensure they are firmly linked to its global business operations.

Relevant Information

[Ricoh] Materiality for the Ricoh Group

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