Yamaha Group Greenhouse Gas Emissions Reduction Target Certified by SBTi "1.5°C-Aligned Targets"

Yamaha Corporation (hereinafter "Yamaha") reports that the international coalition of environmental organizations, the Science Based Targets initiative (SBTi)*1, has certified the Group's medium- to long-term greenhouse gas emission reduction target as aligning with the SBTi Business Ambition for 1.5°C*2.

SBTi had certified Yamaha Group's medium- to long-term target to reduce greenhouse gas emission in June 2019 to limit global warming to a 2.0°C*2 increase from the pre-industrial level. The Group has now received certification for raising its scopes 1 and 2 reduction targets from a 32% to a 55% reduction (compared to FY2018/3 levels) to reach the ambitious target of limiting global warming to 1.5°C, which the SBTi adopted in response to the growing international momentum to achieve carbon neutrality.

To reach the new target, the Yamaha Group will step up its environmental efforts by increasing discussions about environmental change throughout the Group led by the Climate Change Working Group under the Sustainability Committee, which is chaired by the Company President, and by actively switching to renewable energy sources, installing highly energy efficient equipment, developing power-saving products, and rationalizing its logistics operations.

Notes

1. The SBT initiative promotes the setting of science-based targets for reducing greenhouse gas emissions in order to achieve the targets of the Paris Agreement, and also assesses and approves such targets. The initiative was established in 2015 collaboratively by four organizations: CDP (an international NGO focused on the disclosure of environmental information), the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

2. Science-based reduction targets to limit global warming to 1.5°C (or 2.0°C) above pre-industrial levels.

3. Scope 1: Direct emissions from a company's own facilities from fuel combustion and other sources

Scope 2: Indirect emissions from purchases of energy (electricity, steam, etc.)

Scope 3: Indirect emissions other than Scope 1 and 2 (procurement of raw materials and parts, transportation, product use, etc.) from a company's own value chain