Okabe : Greenhouse Gas Emissions Reduction Targets SBT Certified

News Release

Okabe Co., Ltd.

Okabe Greenhouse Gas Emissions Reduction Targets

SBT Certified

The Okabe Group's greenhouse gas emissions reduction targets for 2030

Okabe Co., Ltd. (head office: Sumida-ku Tokyo; Hirohide Kawase, Representative Director, President and Chief Executive Officer; hereinafter "Okabe"), a company engaged in a construction-related products business, a marine business and other businesses, announces that it has received SBT certification of the greenhouse gas emissions reduction targets for 2030 established by the Okabe Group from the international SBTi (Science Based Targets Initiative)*2 because they are in line with the greenhouse gas emissions reduction goal of limiting the rise in global temperature to 1.5 °C above pre-industrial levels*1 set by the Paris Agreement on October 6, 2023.

The Okabe Group's SBT-certified greenhouse gas emissions reduction targets

As advocated in its Medium-Term Management Plan, Okabe has been working on key issues with a focus on addressing the Sustainable Development Goals (SDGs) through management, including decarbonization initiatives, based on its vision of becoming "a global manufacturer that will contribute to resolving global issues by providing comprehensive solutions." Okabe will continue to work with its business partners to realize decarbonization and zero emissions at construction sites, while in the marine business, it will strive to preserve fish, seaweed and reefs where the seaweed that absorbs carbon dioxide are expected grow. Through these efforts, it will move forward proactively with a range of initiatives designed to reduce its environmental footprint and transform itself into a carbon neutral company.

Going forward, Okabe will continue to work proactively to reduce greenhouse gas emissions with a view toward realizing a sustainable society.

*1. The Paris Agreement established the long-term worldwide goal of working to limit the global average temperature increase to well below 2 °C in comparison with pre-industrial revolution levels, preferably to 1.5 °C."

*2. The SBTi is an international initiative jointly established by the UN Global Contact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) to examine whether or not greenhouse gas emissions targets set by companies are compatible with the goal of limiting the global increases to below 1.5 °C based on scientific grounds and to certify the goals that meet the standard.

*3. Scope 1: Direct emissions from the combustion of fuels used by a company internally or its industrial processes, Scope

1. Indirect emissions from the use of energy such as electricity, heat and steam provided by other companies, Scope 3: Indirect emissions not included in the Scope 1 or Scope 2. Category 1: Purchased products and services, Category 4: Transportation and distribution (upstream)

Press inquiries regarding this release Okabe Co., Ltd.Decarbonization Promotion

Department

TEL: +81-3-3623-6136MAIL:s-muraya@okabe.co.jp