Panasonic Holdings Corporation today announced the release of its GREEN IMPACT PLAN 2024 (GIP2024). The plan will serve as a milestone toward the 2050 targets laid out in the company's long-term environmental vision, Panasonic GREEN IMPACT (PGI).

Under the banner of this long-term environmental vision, the Group hopes to contribute to both the well-being of people and society as well as a sustainable global environment.

It is engaged in various activities towards reducing CO2 emissions from its own operations to virtually net-zero by 2030 and to contribute to a total of 300 million tonnes (Mt)*1 or more in avoided emissions by 2050, about 1%*2 of the current total global emissions of 33 billion tonnes.

As a milestone toward achieving the goals established for 2050 and reaching the targets made for 2030 (FY2031), the GIP2024 sets out concrete actions to be completed by 2024 (FY2025).

It aims to reduce CO2 emissions in the Group's value chain (VC) and seeks to contribute to lowering CO2 emissions in Scope 1, 2 and 3 as well as increasing avoided emissions in wider society.

The Panasonic Group understands its responsibility in working towards solving the urgent issue of climate change collectively.

Through the accumulation of our efforts ("ACTs"), it will work alongside society to achieve carbon neutrality by expanding the impact of its contributions to CO2 emission reductions.

Outline of GREEN IMPACT PLAN 2024 and targets for FY2025

OWN IMPACT (Scope 1, 2, 3*3): Impact on emissions reduction from the Group's VC

- CO2 reduction: Target of 16.34 Mt

- Net-zero CO2 emissions factories: 37 factories (7 factories already emissions-free at end of FY2021)

CONTRIBUTION IMPACT: Impact on emissions reduction to society through existing businesses

- CO2 reduction contribution to customers and society: Target of 38.3 Mt (23.47 Mt in FY2021)

Circular Economy (CE):

- Recycling ratio of factory waste: 99% or more

- Use of recycled resin: 90 kt or more (cumulative amount from FY2023-2025)

- CE-based business models/products: 13 businesses (5 businesses in FY2021)

GREEN IMPACT targets for FY2031

OWN IMPACT (CO2 emissions reduction within Scope 1, 2, 3*3): 31.45 Mt

•CONTRIBUTION IMPACT (avoided CO2 emissions): 93 Mt

*1 2019 energy-derived CO2 emissions: 33.6 billion tons (Source: IEA)

*2 CO2 emission factor is based on the year 2020

*3 Classification made based on GHG (Green House Gas) Protocol, the international calculation standard