New analysis reveals Canon out of the picture in renewable energy race

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Monday 04 March, 2024: Canon has fallen dramatically behind its peers in terms of renewable energy, according to new analysis released today by corporate climate group, Action Speaks Louder (ASL).

According to the analysis, whilst peers such as Sony, HP and Epson have all set 100% renewable energy targets, Canon is languishing at 4.85% and the company has no public target beyond 2023. In February 2024, Canon also confirmed in writing to ASL that it does ‘not plan to make public our plans for introducing renewable energy alone or setting targets.’ 

“Whilst sustainability is at the heart of Canon’s message to its global audience, its dismal renewable energy target paints a very different picture,” said Action Speaks Louder Executive Director James Lorenz. “The extent to which Canon powers its business with wind and solar is one of the most tangible indicators of climate action. Unfortunately, today, it is hard to think of a company of similar global stature which is lagging so far behind.”

“Canon has the opportunity to match the climate actions of its peers and thus demonstrate that it can turn its environmental pledges into significant, evidence-based results. Canon can and must do better and live up to its stated value of ‘doing good.’” 

“Canon’s leadership and sustainability team should make a public commitment to develop a transparent plan to achieve 100% renewable energy with at least a 60% target by 2030.”

During 2023, Canon took steps to increase its emissions reduction target. However, the company’s greenhouse gas emissions have remained stubbornly high and largely unchanged from 2018 to 2022. While Canon states its climate targets have been certified through the NGO-led Science-based Targets Initiative (SBTi), ASL analysis shows Canon will miss its emission reduction targets if it fails to meaningfully scale up renewable energy usage. Strikingly, renewable energy consumption in 2022 contributed to a mere 0.03% reduction in Canon’s operational emissions, indicating that scaling up renewables is critical to meeting its 2030 target of 42% emissions reduction.

ASL is also repeating a call for Canon leadership to address the issue of climate denialism being published by the Canon Institute for Global Studies (CIGS). CIGS researcher Taishi Sugiyama, has criticized climate science and attempted to block Japan’s transition to clean energy. A recent Sugiyama publication on the Canon platform suggests decarbonisation is a plot manufactured by Chinese and Russian dictators to weaken rivals.

“Canon needs to play catch up. And fast. Sustainability matters to its consumers and the company is now tasked with proving the quality and ambition of its stated commitment to global environmental issues,” said Lorenz. “By setting a strong renewable energy target, Canon can also demonstrate it is not under the influence of climate denialists who have been given safe harbor in its think tank.” 

Read the new Action Speaks Louder analysis.


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