Hitachi Energy AG

Hitachi Energy AG, headquartered in Switzerland and operating in the electrical machinery and apparatus sector, has established significant climate commitments. The company aims for net-zero greenhouse gas emissions across its value chain by fiscal year 2050.

For its operational emissions, Hitachi Energy has set ambitious targets:

• Near-Term Targets (by FY2030): A reduction of 80% in absolute Scope 1 and Scope 2 greenhouse gas emissions, using a 2019 base year.
• Long-Term Targets (by FY2050): A reduction of 90% in absolute Scope 1 and Scope 2 greenhouse gas emissions, also from a 2019 base year.

Regarding Scope 3 emissions, which represent emissions from the value chain, Hitachi Energy has also set targets:

• Near-Term Targets (by FY2030): A reduction of 55% per MVA sold in Scope 3 greenhouse gas emissions, specifically for purchased goods and services, upstream and downstream transportation and distribution, business travel, and the use of sold products.
• Long-Term Targets (by FY2050): A reduction of 97% per MVA sold in Scope 3 greenhouse gas emissions, covering the same categories as the near-term target.

The company's latest reported emissions data is for 2024, with a total of approximately 164.6 billion kg CO2e. Breaking this down by scope:

• Scope 1: Approximately 85.4 million kg CO2e.
• Scope 2 (Market-based): Approximately 6.4 million kg CO2e.
• Scope 2 (Location-based): Approximately 186.6 million kg CO2e.
• Scope 3: Approximately 158.3 billion kg CO2e.

Earlier reporting years show:

• In 2023, total emissions were approximately 165.9 billion kg CO2e, with Scope 1 at about 82.7 million kg CO2e and Scope 3 at approximately 155.9 billion kg CO2e.
• In 2022, total emissions were approximately 177.9 billion kg CO2e, with Scope 1 at about 85.0 million kg CO2e and Scope 3 at approximately 167.9 billion kg CO2e.
• In 2021, Scope 1 emissions were approximately 148.3 million kg CO2e and Scope 2 (market-based) were approximately 48.0 million kg CO2e. Scope 3 data was not reported for this year.
• In 2020, Scope 1 emissions were approximately 191.1 million kg CO2e and Scope 2 (market-based) were approximately 177.9 million kg CO2e. Scope 3 data was not reported for this year.
• In 2019, Scope 1 emissions were approximately 175.7 million kg CO2e and Scope 2 (market-based) were approximately 189.5 million kg CO2e. Scope 3 data was not reported for this year.

It is important to note that Scope 3 emissions data for purchased goods and services was listed as missing for several reporting years. Hitachi Energy's climate commitments and targets are aligned with the Science Based Targets initiative (SBTi) and are consistent with reductions required to keep warming to 1.5°C. The company's reporting may be cascaded from its parent entity, Hitachi, Ltd., for initiatives like the Climate Action 100+ and RE100.