Weston on December 8, 2022 – Ricoh Company, Ltd. announces that it has won the Environmental Value Award at the 4th Nikkei SDGs Management Grand Prix. These awards recognize companies that work to solve social, economic and environmental problems through their businesses and strongly link the UN Sustainable Development Goals (SDGs) with their corporate management efforts. Based on the results of the Nikkei SDG management survey conducted by Nikkei Inc. the committee comprehensively reviewed the strategies of 886 companies in Japan.
The award ceremony was held on November 24, 2022 in Tokyo, Japan, and is the third time Ricoh has received an award at this event where they evaluate the four elements of SDG strategy: economic, social, environmental, and governance value.
The Environmental Value Award comprehensively evaluates policies such as risk/opportunity analysis and environmental audits, greenhouse gas emissions, scope of strategies, quantitative understanding of waste, energy consumption and water resources, as well as the existence of long-term goals and actual figures. It also considers climate change adaptation measures, solutions to environmental problems and ecosystem conservation activities.
At the award ceremony, Kunio Ito, president of the jury said, "Ricoh's environmental management is strong. They are ahead of other companies in disclosing compliance in their climate change reporting. They declared themselves carbon neutral in 2017 and have included not only Scope 1 and 2 but also Scope 3 in their disclosures, steadily reducing GHGs year on year. Ricoh also promotes the use of renewable energy and is on track to achieve the RE100 goal of 100% renewable electricity. In Japan, Scope 3 disclosure is not yet very advanced, but I believe Ricoh's efforts will become a case study, as it will become mandatory in the future."
In the speech, Yoshinori Yamashita, president and executive director of Ricoh explained, "In the SDGs, environmental issues are particularly pressing, and we are in a race against time. Stakeholders are demanding that companies not only set high targets, but also take concrete actions and disclose their achievements. Ricoh will take the lead in meeting these expectations and contribute to building this momentum around the world”.
For the Ricoh Group, an ideal sustainable society is one in which it maintains the balance of the "Three Ps": Prosperity, People and Planet. To achieve this, it has identified seven material issues in two areas, "Solving social problems through business" and "Robust management infrastructure." In addition, Ricoh has established 17 ESG objectives linked to each materiality, and everyone, both management and employees, is working to achieve these objectives with a high degree of awareness.
Ricoh's seven material issues and its SDGs
