Ricoh Company, Ltd. announced the publication of the “Ricoh Group Circular Economy Report 2021”.
Ricoh said it is the first company to issue a report based on guidance published by the Japanese government last year to promote disclosures and engagement concerning sustainable finance models. The company hopes that the report will lead to greater information disclosure and a deepening of dialogue with global stakeholders.
The report outlines the company’s efforts to establish a recycling-oriented society since 1994, through an exploration of Ricoh’s “Comet Circle” concept which serves as a case study for how businesses which reuse and recycle can generate profits. The report also sets out the company’s future targets which build on its technologies and experience developed over the last three decades. The report is organised in terms of policies and strategies based on government guidance, as well as risks and opportunities for businesses working with ESG goals.
“As disclosure frameworks for ESG become more aligned across countries, Ricoh is proud to have this opportunity to provide real-world examples based on our expertise in ESG initiatives, offer support with information disclosures based on government guidance, and deepen dialogue with our stakeholders around the world”, said Mikako Suzuki, Corporate Officer of Ricoh in charge of ESG and Risk Management.
Yoshinori Yamashita, President and CEO of Ricoh Company, Ltd., explained that “Ricoh’s sustainability initiatives are distinctive and fully integrated into our management strategy and systems. Setting and achieving ESG targets is the determining factor for future financial performance and sustainable growth. We have committed to using 100% renewable energy by 2050 and aim to hit 50% by 2030. In fiscal year 2020, recycled parts and products accounted for ¥30 billion ($246 million/ €221 million) of our sales. I firmly believe solving social issues by leveraging our technologies, including our compostable, carbon-neutral plastic, directly contributes to an increase in corporate value.”
