Nidec Commits to SBT and TCFD Initiatives

Rhea-AI Summary

Nidec Corporation (TSE: 6594; OTC US: NJDCY) announced its commitment to set new climate targets in alignment with the Science Based Targets initiative (SBTi). This goal is part of its strategy to achieve carbon neutrality by FY2040. The company emphasized its responsibility in fostering sustainable practices and will work on making its operations carbon neutral by focusing on energy savings, transitioning to renewable energy, and low carbon fuels. Additionally, Nidec plans to align its corporate reporting with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Positive

• Commitment to achieving carbon neutrality by FY2040.
• Aligning corporate reporting with TCFD recommendations.
• Pledging to transition operations to renewable and low carbon fuels.

Negative

• None.

KYOTO, Japan, June 06, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has signed and submitted a commitment letter to the SBTi* to set new climate targets consistent with its plan for achieving carbon neutrality by FY2040. In a similar effort toward this end, the Company is also committed to aligning its corporate reporting with the TCFD** recommendations.

Playing a responsible role in making sustainable changes to the global environment is one of the top items on the Company’s strategic agenda. By pledging itself to a shared international goal of departing from carbon-reliant social landscape, Nidec will take concerted steps to make its operations (Scope 1, 2) go carbon neutral by FY2040 through measures including energy-savings and transition to renewables and low carbon fuels.

* SBTi（Science Based Targets initiative）
The SBTi was founded in 2015 as a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) to drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets.

** TCFD（Task Force on Climate-related Financial Disclosures）
The TCFD was created in 2015 by the G20's Financial Stability Board (FSB) to develop recommendations for companies on information disclosure concerning climate change risks and opportunities in four thematic areas: Governance, Strategy, Risk Management, and Metrics and Targets.

Contact:
	Masahiro Nagayasu
	General Manager
	Investor Relations
	+81-75-935-6140
	ir@nidec.com

FAQ

What are Nidec Corporation's climate targets?

Nidec Corporation aims to achieve carbon neutrality by FY2040 and has committed to setting new climate targets with SBTi.

How is Nidec Corporation aligning with TCFD recommendations?

Nidec Corporation is aligning its corporate reporting with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

What measures is Nidec taking to reduce carbon emissions?

Nidec is focusing on energy savings and transitioning to renewable energy and low carbon fuels to make its operations carbon neutral.

What is the significance of SBTi for Nidec Corporation?

The Science Based Targets initiative (SBTi) allows Nidec to set ambitious, science-based emissions reduction targets as part of its climate commitment.