NEC upgrades its greenhouse gas reduction target to SBT1.5degC and joins RE100, a global renewable electricity initiative

TOKYO, Jun 11, 2021 - (JCN Newswire) - In 2017, NEC Corporation (TSE: 6701) announced its climate change policy guidelines for 2050(1), aiming to reduce CO2 emissions from its direct business operations to become carbon neutral by 2050. In order to accelerate climate change measures, NEC upgraded its greenhouse gas reduction target from the previous 33% reduction from the baseline emission in FY2017 to a 55% reduction by FY2030. This revised target was validated by the Science Based Targets initiative (SBTi)(2) as being consistent with reductions required to keep global warming to 1.5degC. The target is one of the "materialities," priority management themes from an ESG perspective, outlined in NEC's Mid-term Management Plan 2025.

In line with this enhanced target, NEC joined RE100(3), which strives to significantly expand the adoption of renewable electricity, and Japan Climate Leaders' Partnership (JCLP), a coalition of businesses seeking to advance the goals of decarbonisation and sustainable business. NEC is now dedicated to procuring 100% of annual electricity from renewable sources by 2050.

NEC envisions its future as "Living harmoniously with the earth to secure the future" in the "NEC 2030VISION." As part of this, NEC will work with a wide range of stakeholders to realize a decarbonized society.

(1) Formulation of climate change policy guidelines aimed at 2050https://www.nec.com/en/global/csr/eco/risk.html?#anc-strategy(2) Science Based Targets initiative:An initiative jointly established by the United Nations Global Compact, the World Resources Institute (WRI), and other organizations in 2015. It encourages companies to set GHG emission reduction targets consistent with science-based evidence to the level required by the Paris Agreement, validating targets that comply with criteria including indirect emissions not only within the company but also in the supply chain.(3) RE100:A collaborative global initiative of influential businesses committed to 100% renewable electricity. It is led by The Climate Group in partnership with CDP. The Japan Climate Leaders' Partnership (JCLP) has supported the participation of Japanese companies as a regional partner.

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

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