Tokyo, Japan - May 9, 2018
Yokogawa Electric Corporation has established mid-term key performance indicators (KPIs) and targets for the entire Yokogawa Group with the aim of achieving the three sustainability goals ("Three goals") that were announced in August 2017.
This is being done in accordance with the vision statement in our long-term business framework, which states: Through "Process Co-Innovation," Yokogawa creates new value with our clients for a brighter future. Towards this end, Yokogawa aims to extend its business fields to cover the entire range of its customers' business activities, and will work with them to identify issues and present solutions that help them transform their businesses and improve productivity. Improving productivity will help not only to generate economic value but also contribute to the resolution of social issues and the achievement of the Sustainable Development Goals (SDGs) covering issues in such areas as energy saving, conservation, greenhouse gas emissions, and public safety.
As part of our efforts to redefine our long-term business framework and draw up a new mid-term business plan, we have conducted value creation story* studies to clarify how we help our customers create value that benefits society and the environment. We have used this to establish mid-term targets for the creation of value and set KPIs for the year 2020 that comply with the Transformation 2020 mid-term business plan (TF2020) announced on May 8. We have set even more ambitious targets for the year 2030, and will pursue activities across the Group that help our customers generate economic value and contribute to the achievement of the SDGs.
Human resources are the basis for all that we do, and so we have set KPIs for diversity, engagement, and other factors that will guide our efforts in this area. Regarding the issue of greenhouse gas emissions by the Group's offices and plants, a long-term approach will be necessary, and our 2030 target is in line with the 2℃ goal of the Paris Agreement.
Progress towards these targets will be monitored by the company's Board of Directors, and information on this will be disclosed on the company website.
Through the co-innovation of solutions and the co-creation of value with its stakeholders, the Yokogawa Group will honor its commitment to achieving a sustainable society.
* Starting with the input of resources and concluding with the impact that a particular undertaking has on society (input→activity→output→outcome→impact), we identify the value that is generated for a particular customer and the social and environmental value that they generate through their activities.