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    6758   JP3435000009

SONY GROUP CORPORATION

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Delayed Japan Exchange  -  09:06 2022-06-29 pm EDT
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Sony accelerates target to achieve a zero environmental footprint by ten years; Aims to achieve carbon neutrality, including scope 3, by 2040

05/18/2022 | 10:31am EDT

Tokyo, Japan - Sony Group Corporation ('Sony') is accelerating its goal of achieving carbon neutrality throughout the entire value chain, including scopes 1 to 3, by ten years from 2050 to 2040, and its target for achieving 100% renewable energy in its own operations also by ten years, from 2040 to 2030.

Sony is making various efforts regarding the environment from the two perspectives of 'Responsibility' and 'Contribution.' Sony has pursued environmental initiatives in accordance with its environmental principles since the early 1990s, and in 2010, the company announced the 'Road to Zero,' a long-term global environmental plan that aims to realize a sustainable society by achieving a zero environmental footprint throughout the life cycle of Sony's products and business activities by the year 2050. The 'Road to Zero' plan symbolizes Sony's responsibility for the global environment, and accordingly Sony has set goals for each of the four perspectives of climate change, resources, chemical substances, and biodiversity in drawing a comprehensive roadmap to achieve the goals of the plan. As climate change risks become more apparent and serious worldwide, and the transition to a decarbonized society has become an urgent issue, Sony made the decision to accelerate its environmental impact reduction activities in the climate change area and to bring forward the target year of achieving a zero environmental footprint in this area by ten years.

1. Accelerate the target year for achievement of carbon neutrality to 2040

Sony will accelerate its target year for carbon neutrality, that is, greenhouse gas (GHG) emissions of virtually zero, from 2050 to 2040. Specifically, Sony intends to make direct and indirect emissions (scopes 1 and 2) of its own operations carbon neutral by 2030, and by 2040, in addition to scopes 1 and 2, Sony will also target other emissions originating from stages such as products, supply chains, and logistics (scope 3), aiming for net zero emissions achieved in all scopes.

2. Accelerate the target year for achievement of 'RE100' 100% renewable energy to 2030

Sony, which is promoting the use of renewable energy, is a member of the international initiative 'RE100' *1. In addition to bringing forward its 'Road to Zero' climate change achievement year, Sony is also accelerating the goal of achieving 100% renewable electricity used at its own sites by ten years from 2040 to 2030.

Accordingly, the renewable electricity rate to be achieved as of 2025, which is one of the priority items of Sony's 'Green Management 2025 (GM2025)' medium-term environmental targets enacted to achieve 'Road to Zero', is being raised from the existing target of 15% to the new target of 35%. At the same time, Sony's renewable energy procurement policy has been revised to include additional items for environmental consideration when installing and operating power generation equipment.

3. Measures for carbon neutrality and 100% renewable energy

The Sony Group will mainly implement the following measures in order to achieve 100% renewable electricity by 2030, and carbon neutrality from scopes 1 to 3 by 2040.

Continuous reduction of environmental impact at own sites: Accelerate energy saving, installation of solar power generation equipment, and introduction of renewable energy throughout the Sony Group.

Further promotion of energy efficient products: Accelerate initiatives to reduce annual power consumption per Sony product.

Strengthening efforts with partners: Encourage business partners of the Sony Group, such as those engaged in parts, materials and finished product manufacturing, to manage their GHG emissions, save energy, and convert to renewable energy to reduce the amount of GHG emissions throughout the entire supply chain.

Contribution to carbon removal / fixation*2: Contribute to carbon fixation through both technological removal and absorption by ecosystems. Specifically, 1) technological removal through measures such as exploration of investments in startups engaged in carbon removal and other related areas through the Sony Innovation Fund: Environment ('SIF: E'), a corporate venture capital fund established in September 2020 as an initiative to foster environmental technology, and 2) absorption by ecosystems, for example exploring credit generation from carbon absorption associated with augmented ecosystem businesses such as Synecoculture being rolled out by SynecO, Inc., which was established as the first project of SIF: E in April 2021.

While the acceleration of the carbon neutral and 100% renewable energy achievement targets announced this time are part of Sony's responsibility as a company, Sony is also actively working to contribute to the global environment through its own technologies and businesses, as well as through co-creation with partners. Going forward, Sony will continue to promote activities for the realization of a sustainable and better society and the global environment.

*1	An initiative operated by the international non-government organization The Climate Group in partnership with CDP. It consists of companies committed to using 100% renewable electricity and comprises 370 member companies worldwide (as of May 16, 2022).
*2	Technology that absorbs and fixes carbon from the atmosphere.

?Road to Zero? Website

?Green Management 2025? Website

(C) 2022 Electronic News Publishing, source ENP Newswire

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Sales 2022 10 010 B 73 246 M 73 246 M
Net income 2022 875 B 6 402 M 6 402 M
Net Debt 2022 634 B 4 637 M 4 637 M
P/E ratio 2022 16,3x
Yield 2022 0,55%
Capitalization 14 199 B 104 B 104 B
EV / Sales 2022 1,48x
EV / Sales 2023 1,36x
Nbr of Employees 109 700
Free-Float 98,0%
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Kenichiro Yoshida Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Representative Director & Vice President
Makoto Toyoda Chief Information Officer & Executive Officer
Tsuyoshi Kodera Head-Information Systems & Security
Hiroaki Kitano Chief Technology Officer
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