Ricoh wins the Grand Prix award at the Nikkei SDGs Management Grand Prix
The award recognises companies that work toward solving social, economic, and environmental issues through their businesses and improve 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 731 companies in Japan.
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.
At the awards ceremony, Kunio Ito1, Chairman of the Jury, said, “Ricoh has scored very high points in all items, and each element is linked at a high level. As a top runner in environmental management, it has laid the groundwork for a long time, but this award is a big manifestation of it as SDGs.” Also, as a groundbreaking initiative, he said that Ricoh is accelerating the use of renewable energy, such as converting all the electricity used in the production and assembly of A3 multifunction devices to 100% renewable energy. Ricoh has significantly raised its GHG (greenhouse gas) reduction target and has been certified under the new standard “1.5°C target” by the SBT (Science Based Targets) initiative.
For the Ricoh Group, an ideal sustainable society is one in which the Three Ps Balance – 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 14 ESG goals linked to each materiality, and everyone, including management and employees, is working toward achieving those goals with a high degree of awareness. Under the slogan “Businesses that do not contribute to the SDGs will be eliminated,” Ricoh will continue to actively promote efforts to realise a sustainable society by solving social issues.
Seven Material Issues and SDGs
*1 Emeritus Professor, Hitotsubashi University