Furuno Electric Co., Ltd.
Climate Impact & Sustainability Data (2022-03-01 to 2023-02-28, 2023)
Reporting Period: 2022-03-01 to 2023-02-28
Environmental Metrics
Total Carbon Emissions:258 tCO2e/year (2022)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:7170 thousand kWh/year (2022)
Water Consumption:180 thousand m3/year (2022)
Waste Generated:2535 t/year (2022)
Carbon Intensity:5.2 tCO2/100 million yen (2022)
ESG Focus Areas
- Ocean and Global Environmental Conservation
- Maritime Accidents and Marine Pollution Prevention
- Fisheries Resource Protection and Response to Increased Food Demand
- Environmentally Friendly Product Manufacturing
- Addressing the Aging and Labor Shortages of Seafarers and Fishermen
- Coexistence and Co-prosperity with Local Communities
- Promoting Diversity and Inclusion
- Utilizing DX
- Utilizing Intellectual Assets
- Corporate Governance
- Promoting Sustainable Procurement
- Thorough Export Control for National Security
Environmental Achievements
- Reduced CO2 emissions by 7.3% year-over-year in 2022.
- Improved recycling rate to 82.4% in 2022.
- Implemented measures to comply with RoHS Directive and chemSHERPA.
Social Achievements
- Launched "National Fishing Port Market" website to support fishermen.
- Developed aquaculture support services.
- Increased male parental leave rate from 11% to 48% in three years.
- Established "Smile Project" working group to promote diversity and inclusion.
- Consistently recognized as a Health Management Excellent Company (White 500).
Governance Achievements
- Implemented a system of executive compensation linked to shareholder profits.
- Conducted annual effectiveness evaluations of the board of directors.
- Established a compliance committee and risk management committee.
- Strengthened export control system.
Climate Goals & Targets
Long-term Goals:
- Achieve 120 billion yen in consolidated sales and 10% operating profit margin by 2030.
Medium-term Goals:
- Achieve 10% ROE and 25% dividend payout ratio by 2026.
Short-term Goals:
- Not disclosed
Environmental Challenges
- Global semiconductor shortage impacting production.
- Aging workforce and labor shortages in the maritime industry.
- Climate change impacting fishing and aquaculture.
- Need to adapt to the decarbonization of the shipping industry.
Mitigation Strategies
- Developed alternative sourcing strategies.
- Investing in autonomous navigation technology and remote operation.
- Supporting sustainable aquaculture practices.
- Developing solutions for carbon neutral shipping.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Strict compliance with laws and regulations, including export controls and international sanctions.
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
Transition Risks
- Regulatory changes, market shifts towards decarbonization
Opportunities
- Development of energy-efficient products and services for the decarbonizing maritime industry.
Reporting Standards
Frameworks Used: TCFD
Certifications: ISO9001
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Goal 7 (Affordable and Clean Energy)
- Goal 9 (Industry, Innovation and Infrastructure)
- Goal 13 (Climate Action)
- Goal 14 (Life Below Water)
Furuno's initiatives contribute to these goals through sustainable product development, resource management, and support for sustainable fisheries and shipping.
Sustainable Products & Innovation
- Energy-efficient products, environmentally friendly manufacturing processes.
Awards & Recognition
- Global Niche Top 100 Companies (2020)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:approximately 229,000 t-CO2 (FY2022)
Scope 1 Emissions:about 1,500t-CO2
Scope 2 Emissions:about 4,500t-CO2
Scope 3 Emissions:about 616,000t-CO2
Renewable Energy Share:Not disclosed
Total Energy Consumption:6.98 GWh
Water Consumption:61 kl
Waste Generated:322 tons
Carbon Intensity:Decreased by 14% in FY2023
ESG Focus Areas
- Governance
- Environmental
- Social
Environmental Achievements
- Launched FURUNO Carbon Neutral Program to achieve carbon neutrality by 2050, aiming for a 50% reduction in Scope 1 and 2 emissions (compared to FY2013) by FY2030.
- Improved recycling rate of waste.
Social Achievements
- Received a “2 stars” rating from the Minister of Health, Labor and Welfare’s “Eruboshi” program for promoting women's participation and advancement in the workplace.
- Established the “FURUNO Group Anti-Harassment Policy” in December 2022.
- Established Diversity and Inclusion Promotion Section in FY2024.
Governance Achievements
- Strengthened governance by separating management and execution.
- Established a voluntary Nomination and Compensation Advisory Committee and Compliance Committee.
- Conducts annual evaluation of the effectiveness of the Board of Directors.
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality by 2050.
Medium-term Goals:
- Achieve a 50% reduction in Scope 1 and 2 emissions (compared to FY2013) by FY2030.
Short-term Goals:
- Not disclosed
Environmental Challenges
- Difficulties in procuring electronic components, increasing Scope 3 Category 1 CO2 emissions.
- COVID-19 pandemic impacting on-site confirmation by waste disposal companies.
Mitigation Strategies
- Promoting procurement of electricity from renewable energy sources to reduce Scope 1 emissions.
- Resumed on-site confirmation by waste disposal companies post-pandemic.
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: ISO9001, ISO14001
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- Not disclosed
Awards & Recognition
- Health and Productivity Management (White 500) for six consecutive years