The entry into force of the Paris Agreement in 2016 changed the situation in industrial, economic, and other markets, as the focus turned from a low-carbon to a decarbonization strategy. Unlike the earlier Kyoto Protocol, the Paris Agreement, adopted under the UN Framework Convention on Climate Change, set a goal of keeping the average global temperature rise to well below 2℃ above pre-industrial levels. To achieve this, emissions must reach net-zero in the second half of the 21st century. Later, in 2018, the IPCC presented the Special Report on Global Warming of 1.5℃, which shows that there are clear benefits to keeping warming to 1.5℃ rather than 2℃ in terms of the impacts of extreme events such as heat waves and floods. The report brought the world’s attention to the need to reach the 1.5℃ goal to overcome the climate crisis, prompting widespread global action.
The world needs to cooperate in transitioning societal systems toward net zero emissions by eliminating the consumption of fossil fuels and removing CO2 from the atmosphere.
Climate risks: 1.5℃ vs 2℃ global warming
|World population exposed to severe heatwaves
(at least once every 5 years)
|About 14%||About 37%
(about 1.7 billion people increase)
|World population at risk of flooding
(relative to 1976-2005)
|2 times||2.7 times|
|Global mean sea level rise
(relative to 1986-2005)
|26 - 77 cm||10 cm higher compared to 1.5℃
Up to 10 million more people would be impacted
|Species||6% of insects, 8% of plants and 4% of vertebrates will be affected||18% of insects, 16% of plants and 8% of vertebrates will be affected|
|Coral reefs||70 - 90% decline||99% decline|
|Ice-free summers in Arctic||At least once every 100 years||At least every ten years|
|Annual catch of marine fisheries||1.5 million tonnes decrease||3 million tonnes decrease|
Source: WWF Japan documents based on IPCC SR1.5 SPM & Chapter 3
Decarbonization goal: carbon negative
Epson aims to become carbon negative, which is defined as limiting emissions of all greenhouse gases (GHG scopes 1, 2, 3) from our business activities, removing from the atmosphere an amount of CO2 corresponding to the remaining GHGs to reach essentially zero GHG emissions, and then removing even more carbon.
First, we will minimize energy-use associated with production and products and switch to renewable energy sources. Closing the resource loop is also effective in reducing GHG emissions, so, along with our goal of becoming underground resource-free, we will move toward GHG-free manufacturing.
Epson is reducing its customers' GHG emissions by providing products that have a smaller environmental footprint during use. We represent the amount of reduction as a measure of our environmental contribution and are creating and manufacturing products that will increase the contribution.
Closed Resource Loop Initiatives
The idea of a circular economy is being advocated as a sustainable economic system to replace the current one-way linear economy of mass production, mass consumption, and mass disposal. In Europe, the European Commission has adopted the Circular Economy Package and has begun taking concrete steps toward transitioning to a circular economy that uses resources more sustainably.
According to an OECD*1 report*2, global resource consumption is predicted to increase to 167 gigatons in 2060, which is more than double the 79 gigatons consumed in 2011, due to population growth and GDP growth.
*1 Organisation for Economic Co-operation and Development. A European-led international organization to which 35 developed countries, including Japan and the United States, are members.
*2 Global Material Resources Outlook to 2060
Conceptual image of the circular economy
The closed resource loop goal: Becoming underground resource free
Epson will utilize previously mined underground resources as existing above-ground resources to reduce consumption of new underground resources and become underground resource free by 2050.
We will endeavor to reduce total resource inputs, eliminate waste/disposal, and use 100% recycled resources.