GS Yuasa Corporation (Tokyo Stock Exchange: 6674) today announced that from April 1 it will be introducing an internal carbon pricing* scheme for the capital investments of GS Yuasa Group.
GS Yuasa has set a per-ton price on the CO2 emitted from its facilities, and the new scheme will involve factoring into investment decisions the anticipated costs of facility emissions based on this price. The aim is to reduce the volume of CO2 emitted through GS Yuasa Group’s business activities by encouraging a shift to investment in low-carbon alternatives, including energy-saving facilities and switching to renewable energy.
Recognizing that climate change caused by global warming is a crucially important societal issue, GS Yuasa is working to reduce the volume of greenhouse gases it emits in the course of its business activities. In May 2021, GS Yuasa set its “GY 2030 Long-Term Greenhouse Gas Target” of reducing the volume of greenhouse gases emitted in the course of its business activities by at least 30% compared with the fiscal 2018 level by fiscal 2030.
In addition to the new internal carbon pricing scheme, GS Yuasa Group is also working toward carbon neutrality through the incorporation of a wide range of carbon reduction measures into its business activities.
*Internal carbon pricing is a framework used to help address climate change, in which companies place their own internally determined prices on CO2 emissions and assess the costs of emissions based on those prices with the aim of creating economic incentives to reduce emissions and encourage a shift toward investment in low-carbon alternatives.
Overview of GS Yuasa’s internal carbon pricing scheme
|Internal carbon price||8,600 JPY per ton of CO2|
|Investments concerned||Investments in facilities that could potentially add to the volume of CO2 emissions of GS Yuasa Group’s businesses|
|Application method||The above internal carbon price will be applied to the anticipated CO2 emissions of applicable facilities (including R&D facilities) and cost assessments based on this information will be factored into investment decisions.|