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Ricoh calls for ‘new form of capitalism' to fight climate crisis

Ricoh president and CEO Jake Yamashita, also co-chair of the Japan Climate Leaders’ Partnership (JCLP), has delivered an ambitious proposal to the Prime Minister of Japan aimed at “overcoming the climate crisis through a New Form of Capitalism.”

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  Ricoh CEO Jake Yamashita (3rd from left) hands the proposal to Prime Minister Fumio Kishida

“The proposals asking for the maximum use of renewable energy and carbon pricing use were presented to Japan’s Prime Minister, Fumio Kishida," Ricoh said. "The JCLP strongly hopes in the proposals that the grand design of the new form of capitalism will be rooted in the 1.5°C target.

“The JCLP is a coalition of Japanese companies who hold the firm belief that economic prosperity and sustainability go hand in hand. Ricoh is a founding member of the JCLP and has continued to stress the importance of climate action through various events organized by the partnership.

“Climate change is one of the most pressing social issues facing our global society. Based on Ricoh's commitment to become carbon neutral by 2050, Ricoh will continue to promote the realization of a zero-carbon society throughout its value chain through intensive energy conservation activities, proactive renewable energy utilization, and active participation in international initiatives.”

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 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 2030, up from the previous target of 30%. The company has also set an interim target of 30% by March 2023, accelerating its renewable electricity transition by eight years.