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Creating value with our stakeholders to make the world a better place for future generations

Changes in our society that are having an impact on our business

Takashi Nishijima, President and Chief Executive Officer

As seen with recent initiatives such as the establishment of the Sustainable Development Goals (SDGs) and the passing of the Paris Agreement, there is a sense of impending crisis and a growing global awareness of the need to build a sustainable society. This is a responsibility that we all bear for future generations. If we are not successful in this, all economic activities will come to a halt. Under such circumstances, companies are being asked to find innovative new ways in which they can contribute more to society through their business activities.

Yokogawa contributes to society by providing solutions to its customers that support the infrastructure and the manufacturing activities that our society depends on. Our mission is to help our customers address whatever business issues they may face and to ensure safe, stable, and efficient operations at their plants. In so doing we are helping them to operate their businesses in a more sustainable fashion, thus contributing toward the realization of a sustainable society.

The SDGs are common goals that provide a clear direction for the global community. Many companies have launched activities to achieve these goals. Yokogawa has also began communicating with its customers about the SDGs as a starting point for the creation of value. The Paris Agreement is having a major influence on the activities of our customers in the resource and energy fields, and Yokogawa is putting its technology know-how to work to help them save energy and operate more efficiently.

Yokogawa’s Sustainability Goals

To guide its efforts to achieve sustainability, Yokogawa established sustainability goals (Three goals) in 2017 that are aligned with the SDGs and the Paris Agreement. Targeted at the year 2050, Yokogawa has released a statement on its aspirations for sustainability that describes its goals for making the world a better place and sets out how the company will transform itself.

Three goals

Statement on Yokogawa's Aspirations for Sustainability

 

Yokogawa will work to achieve net-zero emissions, make a transition to a circular economy, and ensure the well-being of all by 2050, thus making the world a better place for future generations.
We will undergo the necessary transformation to achieve these goals by 1. becoming more adaptable and resilient, 2. evolving our businesses to engage in regenerative value creation, and 3. promoting co-innovation with our stakeholders.

Yokogawa will work to achieve net-zero emissions, make a transition to a circular economy, and ensure the well-being of all by 2050, thus making the world a better place for future generations.
We will undergo the necessary transformation to achieve these goals by 1. becoming more adaptable and resilient, 2. evolving our businesses to engage in regenerative value creation, and 3. promoting co-innovation with our stakeholders.

Our long-term business framework and the Transformation 2020 (TF2020) mid-term business plan that commenced in fiscal year 2018 set the “Three goals” as the basis for our activities. For the year 2030, Yokogawa will focus on and has set aspirational targets for the three business areas of renewable and low-carbon energy, life innovation and safety, and energy saving and resources. Toward the achievement of the 2030 targets, Yokogawa has decided on value creation themes for the year 2020 that specifically indicate how the company will contribute to society, and has set key performance indicators (KPIs) that are incorporated into the TF2020 business plan.

For the human resources and environmental management activities that provide the foundation for our creation of value, mid-term sustainability targets have also been set for the entire Yokogawa Group. Through initiatives focusing on themes such as diversity & inclusion and the reduction of greenhouse gas emissions, we will provide a stronger foundation for the Group’s business activities.

Making the world a better place for future generations

Since its founding in 1915, Yokogawa has adapted time and again in response to great changes in society and its business environment. At the same time, the company has remained steadfastly committed to its founding principles of putting quality first, having a pioneering spirit, and contributing to society, which support a corporate philosophy that states:

As a company, our goal is to contribute to society through broad-ranging activities in the areas of measurement, control, and information. Individually, we aim to combine good citizenship with the courage to innovate.

Today, however, we face a new set of circumstances in which rapid and accelerating environmental changes pose a threat to all of humanity, not just individual enterprises, and it is necessary for each of us to take immediate action, with a sense of crisis.

In the TF2020 plan, the ideal to which Yokogawa aspires is expressed as:

A company that seeks to build a sustainable society by using its core measurement, control, and information technologies and pursuing digital technology innovation and co-innovation with its customers that revolutionizes productivity in a wide range of business processes.

Based on the “Three goals” and the initiatives set out in the TF2020 plan, Yokogawa will seek through innovation to create value with its customers and thereby make the world a better place for future generations.
 

Takashi Nishijima
President and Chief Executive Officer
Yokogawa Electric Corporation

 
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