Japan’s Hitachi Sets 2050 Net-Zero Target, In Line With Rivals

(Bloomberg) -- Hitachi Ltd., the Japanese industrial giant, aims to reach net-zero emissions for its entire supply chain by fiscal year 2050, widely in line with rivals amid mounting pressure to fight global warming.

The new goal, announced by Hitachi on Monday, comes as investors and policy makers call for more action by corporations to reduce their carbon footprint. The Tokyo-based company said it will use procurement guidelines unveiled in July to make plans with suppliers and users to reach the target, as well as offsets.

Hitachi’s ambitions match those from competitors such as LG Electronics and General Electric Co., which have lagged the tech sector in setting pollution reduction goals. Hitachi is a top supplier of railroad and construction equipment.

Apple Inc. and Microsoft Corp., for example, have set goals to reach net-zero emissions by 2030 across the full supply chain. A portion of those targets, which involves emissions from customers using the companies’ products, will be managed through offsets which have come under criticism from experts.

Hitachi pledged that its global factories and offices -- which make up about 10% of total value chain emissions -- will become carbon neutral by the fiscal year ending March 2031.

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