SoftBank Corp. Sets Net Zero Target for 2050

SoftBank Corp. Sets Net Zero Target for 2050

As reported in June 2021, SoftBank Corp. (TOKYO: 9434) pledged to reduce its greenhouse gas (GHG) emissions to virtually zero by the year 2030 to achieve carbon neutrality by 2030. On August 31, 2022, SoftBank announced an additional target to achieve what’s called ‘Net Zero’ by 2050.

What’s Net Zero? Net Zero is a term that refers to achieving a balance between the amount of carbon dioxide and other GHGs emitted into the atmosphere and the amount removed, with the aim of preventing global warming.

What are SoftBank’s milestones to achieve Net Zero? In line with the standards set by the Science Based Targets initiative (SBTi), a body enabling businesses to set ambitious emissions reduction targets, SoftBank will work to reduce GHG emissions generated by its own business activities and energy consumption (Scope 1 and Scope 2) to virtually zero by 2030 to achieve carbon neutrality. In addition, SoftBank will endeavor to reduce GHG emissions generated from its entire value chain, including its supply chain, to virtually zero by 2050 to achieve Net Zero.

Since the adoption of the Paris Agreement in 2015, countries have been working to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels as a long-term common goal to mitigate climate change. To achieve this goal, companies and organizations around the world are working to reduce their GHG emissions to Net Zero by 2050.

SoftBank is also aware of its responsibility as a corporate citizen to mitigate the impact of climate change. By utilizing its advanced technologies, including AI and IoT, and by working closely with its business partners, SoftBank will strengthen its Net Zero initiatives to help realize a sustainable society.

(Posted on September 1, 2022)
by SoftBank News Editors

SoftBank Corp. Sets Net Zero Target for 2050

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