Ricoh wins its 2nd Environmental Value Award at the 4th Nikkei SDGs Management Grand Prix
TOKYO, November 28, 2022 – Ricoh is pleased to announce that it has won the Environmental Value Award at the 4th Nikkei SDGs Management Grand Prix.
The award recognizes companies that work toward solving social, economic, and environmental issues through their businesses and enhance corporate value by linking SDGs to their management efforts. Based on the results of the Nikkei SDGs Management Survey conducted by Nikkei Inc., the External Review Committee comprehensively reviewed the efforts and strategies of 886 companies in Japan.
The award ceremony was held on November 24, 2022. One company was selected for the Nikkei SDG's Management Grand Prix Award, and one company each received the SDGs Strategy & Economic Value Award, Social Value Award, and Environmental Value Award. Ricoh won the Environmental Value Award in 2019 and the Grand Prize in 2020, so this is the third time Ricoh has received an award at the Nikkei SDGs Management Grand Prix.
The awards ceremony held at Tokyo Kaikan (Chiyoda-ku, Tokyo) on November 24, 2022
Left: Tsuyoshi Hasebe, President & CEO, Nikkei Inc. Right: Yoshinori Yamashita, President & CEO, Ricoh Company, Ltd.
The Grand Prix award is given to the best company that has both improved corporate value and contributed to the SDGs throughout their corporate activities at a high level. It evaluates the four elements of SDGs strategy/economic value, social value, and environmental value, plus governance, which is the foundation that supports them.
The Environmental Value Award comprehensively evaluates policies such as risk/opportunity analysis and environmental audits, greenhouse gas emissions, scope of understanding, quantitative understanding of waste, power consumption, and water resources, plus the existence of long-term targets and actual figures. It also considers adaptation measures to climate change, solutions to environmental issues, and activities for ecosystem conservation.
At the awards ceremony, Kunio Ito, Chairman of the Jury, said, “Ricoh's environmental management is uncompromising. They are ahead of other companies in disclosing TCFD compliance in their securities reports regarding climate change, declared themselves carbon neutral in 2017, and have included not only Scope 1 and 2 but also Scope 3 in their disclosures, steadily reducing GHG year after year. Ricoh also promotes the use of renewable energy and is on its way to achieving the RE100 goal of 100% renewable electricity. In Japan, Scope 3 disclosure is not yet well advanced, but I believe that Ricoh's efforts will become a leading case study as it will become mandatory in future.”
In the acceptance speech, Mr. Yamashita, President and CEO of Ricoh, said, "Under the SDGs, environmental issues are particularly pressing, and we are in a race against time. Stakeholders demand that companies not only set high goals but also take concrete actions and disclose their achievements. Ricoh will take the lead in meeting these expectations and contribute to building momentum in the world.”
For the Ricoh Group, an ideal sustainable society is one in which the Three Ps Balance – a balance between Prosperity, People and Planet – is maintained. To create such a society, it has identified seven material issues in two areas, “Resolving social issues through business” and “Robust management infrastructure,” by reflecting Ricoh's Mission Statement, Mid-Term Management Plan (MTP), and expectations of its stakeholders. Furthermore, Ricoh has set 17 ESG goals linked to each materiality, and everyone, including management and employees, is working toward achieving those goals with a high degree of awareness.