Press Releases 2022
SoftBank Corp. Commits to Achieving
‘Net Zero’ by 2050
by Removing Greenhouse Gas Emissions Produced
by its Supply Chain
August 31, 2022
SoftBank Corp. (TOKYO: 9434, “SoftBank”) today announced a pledge to reduce its greenhouse gas (GHG) emissions generated by its entire value chain to virtually zero to achieve ‘Net Zero’ emissions by 2050. To meet this target, in addition to its existing initiatives to eliminate GHG emissions from its own business processes and its energy consumption (Scope 1 and Scope 2), SoftBank will work to remove GHG emissions generated by its supply chain (Scope 3).
In May 2021, SoftBank announced its pledge to achieve virtually zero GHG emissions by 2030 under its ‘Carbon Neutral 2030’ declaration. Under this initiative, SoftBank is working to reduce its own direct GHG emissions (Scope 1) and its indirect GHG emissions (Scope 2), which includes GHG emissions tied to the use of electricity supplied by other companies. Under its new Net Zero long-term goal, as a first step, SoftBank will aim to reduce its Scope 3 GHG emissions in the fiscal year ending March 31, 2024 (FY2023) by 2.5% compared to FY2022 levels. This and future initiatives will be conducted in accordance with the ‘Corporate Net-Zero Standard’ formulated by the Science Based Targets initiative (SBTi) in October 2021.
Since the 2015 adoption of the Paris Agreement, an international treaty on climate change, countries have been working to limit global temperature rise to 1.5℃ above pre-industrial levels as a long-term common goal. To achieve this, companies and organizations must reduce their GHG emissions to Net Zero by 2050. SoftBank is aware of its responsibility as a corporate citizen to mitigate to the impact of climate change and help realize a sustainable society. By utilizing AI and its other advanced technologies, and by working closely with its business partners, SoftBank will strengthen its Net Zero initiatives and contribute to the realization of a decarbonized society.
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