NJDCY - Nidec Commits to SBT and TCFD Initiatives

KYOTO, Japan, June 06, 2022 (GLOBE NEWSWIRE) -- Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) announced today that it has signed and submitted a commitment letter to the SBTi* to set new climate targets consistent with its plan for achieving carbon neutrality by FY2040. In a similar effort toward this end, the Company is also committed to aligning its corporate reporting with the TCFD** recommendations.

Playing a responsible role in making sustainable changes to the global environment is one of the top items on the Company’s strategic agenda. By pledging itself to a shared international goal of departing from carbon-reliant social landscape, Nidec will take concerted steps to make its operations (Scope 1, 2) go carbon neutral by FY2040 through measures including energy-savings and transition to renewables and low carbon fuels.

* SBTi?Science Based Targets initiative?
The SBTi was founded in 2015 as a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) to drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets.

** TCFD?Task Force on Climate-related Financial Disclosures?
The TCFD was created in 2015 by the G20's Financial Stability Board (FSB) to develop recommendations for companies on information disclosure concerning climate change risks and opportunities in four thematic areas: Governance, Strategy, Risk Management, and Metrics and Targets.