Friday, June 13, 2008

Toshiba Corporation sets new target to cut CO2 emission

On June 13th, Toshiba Corporation (TYO:6502), one of the largest Japanese multinational companies announced an ambitious goal of cutting its CO2 emission up to 117.7 million tons a year by 2025. This amount is more than double its initial target; 57.6 million tons. In 2007, the company introduced Toshiba Group Environment Vision 2050, where the company set targets for enhancing environment efficiency and raising the company’s overall eco-efficiency. The company is consistently working toward supplying eco-friendly energy system and reducing its CO2 emissions. The company wants to achieve a total reduction goal of 82 million tons per year through its energy system supply business. reports:

The upward revision in the energy systems business represents Toshiba's determination to increase the contribution from its nuclear power business. Environmental concerns increasingly require the best possible mix of nuclear power thermal power, hydro power, geothermal power and new power sources, and the fact the nuclear power generation is CO2-emission-free gives it an important and rapidly growing role. In fact, the IEA's "Energy Technology Perspectives 2008” shows that meeting the target of halving global CO2 emissions by 2050 would require construction of 32 nuclear power plants a year around the world through to 2050. Toshiba recognizes this as an area where Toshiba Group can take the lead. While aware that the ultimate achievement will be strongly influenced by future market developments, Toshiba is proactively responding to current conditions by raising its original estimate of 47 million tons a year by 35 million tons to a new target of 82 million tons a year.

The company is also targeting to cut CO2 emissions by 35.7 million tons per year at its consumer and industry product business by 2025 by promoting light-emitting diodes for lighting that consumes less energy. Toshiba Corporation’s decision also coincides with Japanese Prime Minister Yasuo Fukuda’s pledge to cut Japan’s emission of CO2 by 60%-80% by 2050.

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