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Climate Change

Climate Change Climate Change

Relevant SDGs

  • 7: AFFORDABLE AND CLEAN ENERGY
  • 12: RESPONSIBLE CONSUMPTION AND PRODUCTION
  • 13: CLIMATE ACTION

Long-Term Goals

In recent years, the damage and effects of climate change have become increasingly serious. Following COP26, the movement to limit the global average temperature rise to 1.5℃ over pre-industrial levels has accelerated, and companies are under pressure to take more proactive and long-term measures to realize a decarbonized future.
Against this backdrop, the Seiko Holdings Group will strengthen its efforts to decarbonize by setting long-term targets for reducing greenhouse gas emissions.

Long-Term Targets for Reducing Greenhouse Gas Emissions

[Greenhouse gas emissions reduction target] *1

2030
Scope 1 & 2: 42% reduction from 2020 level
Scope 3: 25% reduction from 2020 level
Aim to achieve carbon neutrality by 2050.

Main measures

  • Review/improve manufacturing processes
  • Introduce/renew high-efficiency equipment
  • Expand use of renewable energy
  • Provide environmentally friendly products, services, and solutions
  • Develop energy-related technologies
  • Collaborate with suppliers and customers

The Seiko Holdings Group has been striving to reduce greenhouse gas emissions through all its business activities, including energy-saving activities in offices and manufacturing sites, and improving energy efficiency in products and services. Recently, we have been proactively introducing renewable energy.
In addition, we have set Initiatives for Climate Change and a Decarbonized Society among the Group’s key materiality issues, and we are accelerating our Group-wide efforts toward a decarbonized society by endorsing the Task Force on Climate-related Financial Disclosures (TCFD) in October 2021.

In the future, we will strive to further reduce greenhouse gas emissions in accordance with the greenhouse gas emission reduction targets based on the SBT (Science Based Targets), and aim for SBT certification in the future.

*1: Based on the “1.5℃ level”, which is a science-based greenhouse gas emission reduction target operated and promoted by SBTi (Science Based Targets initiative).

FY 2020 Summary and Future Initiatives

In addition to ongoing efforts such as the efficient operation of our global facilities, we are replacing all lighting fixtures with LEDs, upgrading energy-intensive equipment, and introducing renewable energy.
As part of our decarbonization efforts, we expanded the management scope of greenhouse gas emissions to include all Group companies, including sales offices in and outside Japan.

On October 20, 2021, the Seiko Holdings Group expressed its support for the recommendations made by the Task Force on Climate-related Financial Disclosure (TCFD). Going forward, we will strive to disclose information on the risks and opportunities that climate change presents to our business (including information on governance, strategy, risk management, and indicators and targets).

CO₂ emissions109,296 tons-CO₂

CO₂ emissions CO₂ emissions
Scope 1: Direct emissions by the company itself (e.g., fuel combustion)
Scope 2: Indirect emissions from the use of electricity, etc. supplied by other companies
* The total amount of CO₂ emissions and the breakdown may not exactly match due to fractional rounding.
* Due to the revision of the CO₂ emission coefficient, CO₂ emissions before FY 2019 were recalculated retroactively.

Note 1: Emission factors
Electricity: In Japan, figures are based on the adjusted emission factor for each electric utility as specified in the Law Concerning
the Promotion of Measures to Cope with Global Warming.
Overseas, IEA (International Energy Agency) emission factors for each country were used.
Fuel: In Japan and overseas, figures are based on the calorific value by fuel type and emission factors for fuel use as specified in
the Law Concerning the Promotion of Measures to Cope with Global Warming. However, where suppliers have provided specific
information on calorific values, etc., those figures were used.
Hot and cold water: Figures are based on emission factors provided by suppliers.

Note 2: From FY 2020, tenants, stores, warehouses, etc. were added to the scope of calculation. Company cars are also included,
but energy use by contractors was not included.

Note 3: For stores, warehouses, etc., where the exact amount of energy used is not known, the figure was estimated based on floor area.

Electricity consumption209,422 MWh

Electricity consumption Electricity consumption
*The figures for the total amount of electricity used and the breakdown may not match exactly due to the rounding of fractions.

Examples of Initiatives

Promotion of LED lighting

Each of the operating companies in the Seiko Holdings Group has been shifting to LED lighting.
Wako, Co., Ltd. replaced the lighting fixtures on the first and second floors of the main building with LEDs. This was done in conjunction with the major renovation of the watch and jewelry sales floor, which was reopened in August 2020. In addition to approximately 300 ceiling light bulbs, all showcase and store window lighting was replaced. We are continuing to convert the rest of the building to LED lighting.

Store window
Store window

Introduction of Renewable Energy

Morioka Seiko Instruments Inc. became the first company in the Seiko Holdings Group to introduce renewable energy and began using it in December 2020. Under a power purchase agreement (PPA service) with Fuyo General Lease Co., Ltd., a solar power generation system of approximately 800 kW was installed on the roof of the Morioka Seiko factory, and the power generated there is being used by the company.

A solar power generation system installed on the roof of the factory
A solar power generation system installed on the roof of the factory

We have also started to introduce renewable energy at our overseas sites.
For example, Seiko Instruments (Thailand) Ltd. produces the most CO₂ emissions of any company in the Seiko Holdings Group. In response, we installed solar panels at their Navanakorn Factory and began generating power in June 2021, with a target of producing 700 kWp. We will continue to introduce solar power generation throughout our Group companies to reduce CO₂ emissions.

Solar panels installed on the site
Solar panels installed on the site

Participation in the Energy Efficiency Improvement Project

Seiko Instruments (Thailand) Ltd.’s Gateway Factory participated in the Energy Efficiency Improvement Project organized by the Alternative Energy Development and Efficiency Bureau (hereinafter referred to as the Efficiency Bureau). This project requires companies to cooperate in a survey to help the Efficiency Bureau set energy efficiency standards for factories. The Gateway Factory gladly cooperated with the Efficiency Bureau’s on-site survey and was rewarded with a certificate of appreciation as a result.

Certificate of Appreciation
Certificate of Appreciation