Daikin Industries : Greenhouse Gas Emissions Reduction Target for 2030 Approved by SBTi

Daikin Industries, Ltd. has received certification from the Science Based Targets initiative (SBTi), an international climate change initiative, for the Group's greenhouse gas (GHG) emissions reduction targets for 2030.

In 2015, the SBTi was formed as an International NGO between the CDP, a coalition of institutional investors that promotes disclosure on climate change action, the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The SBTi supports and approves companies around the world to set science-based GHG emissions reduction targets in line with the Paris Agreement, which calls for limiting the rise in global temperature to 1.5°C above pre-industrial levels. Nearly 5,000 companies have been approved by the SBTi.

As a leading Heating, Ventilation, Air Conditioning & Refrigeration (HVAC&R) company with global operations, Daikin provides products and services around the world that utilize environmental technologies. To promote business growth while also mitigating the impact to climate change, Daikin established its "Environment Vision 2050." In the vision, Daikin aims to reduce GHG emissions throughout the life cycle by 30% or more in 2025 and 50% or more in 2030 compared to business as usual (BAU^*1) with 2019 as the baseline year. Daikin has received certification from SBTi for the emissions reduction target it has set based on these visions.

Daikin will continue to provide comfortable air environments worldwide and contribute to the realization of a sustainable society.

*1Business As Usual: In this context, BAU refers to emissions in case of normal business growth without the implementation of countermeasures.

Definition of scopes by the SBTi: https://sciencebasedtargets.org/faqs#what-are-the-emissions-scopes-which-scopes-do-targets-have-to-cover

*2FY2031: April 1, 2030 - March 31, 2031*3 FY2020: April 1, 2019 - March 31, 2020