Ricoh received “AA” environmental evaluation rating from Mizuho Research & Technology
Acknowledgment of Ricoh Group’s aggressive approaches to addressing climate change
TOKYO, June 29, 2021 - Ricoh received a “AA” rating, the highest of five ratings, utilising Mizuho Research & Technologies’ environmental assessment model, and signed a loan agreement with Mizuho Bank, Ltd. (hereinafter “Mizuho Bank”) for Mizuho Environmentally Conscious Financing (hereinafter “Mizuho Eco Finance”).
Mizuho Eco Finance is an environmental evaluation credit product provided by Mizuho Bank to encourage businesses’ efforts to move to a zero-carbon society. Mizuho Research & Technologies’ environmental evaluation model incorporates and benchmarks globally accepted environmental verification and evaluation ratings to evaluate client initiatives and provides financing to those companies achieving a specific minimum score.
In April 2017, Ricoh became the first Japanese company to join RE100 - a collaborative group made up of the world’s most influential businesses committed to using 100% renewable electricity. In March 2020, Ricoh updated its environmental targets in light of changes in global trends regarding global warming by revising its GHG (greenhouse gas) reduction target for its own emissions from 30% to 63% in 2030 as compared to 2015. The revised target, approved by the Science Based Targets initiative*, aligns with the 1.5°C ambition of the Paris Agreement. In March 2021, Ricoh raised its renewable electricity target to 50% by FY2030, up from the previous target of 30%. The Group has also set an interim target of 30% by March 2023, accelerating its renewable electricity transition by eight years.
Ricoh endorsed TCFD (Task Force on Climate-related Financial Disclosures) in August 2018, and in 2019, began aligning its information disclosures based on the TCFD framework.
Climate change is one of the most pressing social issues facing our global society. Ricoh proactively strives to reduce environmental impact and improve the earth’s self-recovery capabilities to achieve a zero-carbon society and a circular economy through business.
* International initiative to certify that company’s GHG reduction goals are consistent with scientific rationale.