- To Our Stakeholders -
Contributing to Achieving Sustainability and Enriching Communities
The world is confronting a threat in the form of COVID-19, a virus that continues to restrict the way we have always lived. I would like to express my respect and thanks to the healthcare professionals and other frontline workers who are fighting to overcome this threat. COVID-19 has also severely impacted and changed our business activities. We have been doing everything we can in response to factory shutdowns, supply chain disruptions, national and regional restrictions on movement, and changes in the market environment due to people modifying their behavior.
Climate change and the COVID-19 pandemic are only a few examples of societal issues that we are currently facing. The United Nations has been sounding the alarm about the destruction of the natural world, saying that it is approaching the point of no return due to the actions of mankind. People have always sought enrichment, but the focus was on material and economic wealth. This desire for affluence may be a contributing cause to these issues. Going forward, it is both necessary and desirable to enrich not only ourselves but the rest of the world and the global environment as a whole. I think the world desires more than just material and economic wealth. People also want other, less tangible forms of wealth. They want to be enriched spiritually and culturally. Sustainability is a fundamental requirement for achieving this. We have revised Epson 25 Corporate Vision for the start of fiscal 2021. We added "quality of life" to "achieve sustainability in a circular economy" and "advance the frontiers of industry" as material themes that we can impact long-term.
Climate change in particular is a long-term global threat, as climate is a foundation of our lives and society. Epson's unique Micro Piezo inkjet technology can help to reduce environmental impacts. We will tackle this issue by using this technology to drive innovation in co-creation projects with partners who share our aspirations of creating new products and services that are eco-conscious and that contribute to higher productivity and a better working environment. We also revised Environmental Vision 2050. We analyzed our 2C scenario last year based on the TCFD's report, and are now studying a 1.5C scenario. We will accelerate our environmental actions too. In 2020, Epson was named to the CDP's prestigious A List after attaining the highest scores for the categories of climate change and water security. There are other environmental issues, such as energy saving and resource depletion, that we will also continue to address.
In addition to these environmental issues, there are various societal issues such as those described in the SDGs. In 2004, Epson became a signatory to the U.N. Global Compact, which sets forth 10 basic principles in the areas of human rights, labor, environment, and anti-corruption. In 2018, we declared our commitment to achieving the SDGs. In 2019, Epson joined the Responsible Business Alliance (RBA), a global coalition dedicated to corporate social responsibility (CSR) in global supply chains, and we have been promoting sustainability in our own supply chain. Multiple Epson sites earned platinum in RBA audits. We see this achievement as a result of our sincere efforts. We will further accelerate our efforts by working with our customers and partners and contribute to achieving sustainability and enriching communities.