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Yokogawa develops sustainability goals

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Hydrocarbon Engineering,


Yokogawa Electric Corp. has announced that it has developed sustainability goals for the year 2050.

The company’s efforts to achieve a sustainable society are in keeping with the Paris Agreement, which was adopted in 2015 by the 21st Framework Convention on Climate Change (COP21) to provide a basis for global efforts to tackle issues related to climate change. The agreement calls for the achievement of net-zero greenhouse gas emissions by the second half of this century.

To ensure a flexible response to environmental and technology changes and guide its long-term efforts to address social issues, Yokogawa is committing itself to the achievement of goals that are based on a vision of where our society should be by the year 2050. Through the selection of products and solutions and the formulation of medium-term business plans that are based on environmental, economic, and societal considerations, Yokogawa will carry out the detailed tasks needed to achieve these goals.

Takashi Nishijima, Yokogawa President and CEO, said: “Companies have a growing responsibility to respond to issues such as population growth and the rising use of fossil fuels that are addressed in the Paris Agreement and the SDGs. Yokogawa provides solutions that improve the stability, efficiency, and safety of operations at industrial plants and other infrastructure facilities by, for example, speeding up processes, reducing workloads, and saving energy. Yokogawa needs to work harder to broaden its solutions so that it can address other issues that impact our society. Yokogawa will establish key performance indicators (KPIs) to evaluate on a medium-term basis the achievement of its sustainability goals, and will continue to create new value through co-innovation with its stakeholders.”

The company's three goals are outlined below.

Achieve net-zero emissions; stopping climate change

The company is aiming for net-zero emissions, which means that the greenhouse gas concentrations in the atmosphere do not rise due to the balance of emissions and the absorption of greenhouse gases, which can be accomplished through the introduction of renewable energy and efficient use of energy. It is also working to reduce the impact of natural disasters and respond to biodiversity issues.

 

Make the transition to a circular economy; circulation of resources and efficiency

The transformation from a one-way economy based on the take, make, and dispose model to an economy where resources are circulated without waste, and the transition to businesses that emphasise services, is under way. The company aims to realise a social framework and ecosystem in which various resources are circulated without waste and assets are utilised effectively. It is also contributing to the efficient use of water resources and the supply of safe drinking water.

Ensure well-being; quality life for all

With the aim of achieving the physical, mental, and social well-being described in the 2030 Agenda for Sustainable Development adopted by the UN in 2015, the company supports people's health and prosperity through the achievement of safe and comfortable workplaces and its pursuits in such areas as the life sciences and drug discovery. The company promotes human resource development and employment creation in local communities, alongside diversity and inclusion.

 

Read the article online at: https://www.hydrocarbonengineering.com/refining/09082017/yokogawa-develops-sustainability-goals/


 

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