Canon Inc. is a Japanese multinational corporation that specializes in the production of imaging and optical products, including cameras, printers, copiers, and scanners. Founded in 1937, the company has grown to become a global leader in the imaging industry, with operations in over 190 countries and regions. Canon's commitment to innovation, sustainability, and corporate social responsibility has earned it a reputation as a responsible and forward-thinking company.

One of the key areas of focus for Canon is decarbonisation. The company recognizes the urgent need to reduce greenhouse gas emissions and mitigate the effects of climate change. To this end, Canon has set ambitious targets to reduce its carbon footprint and transition to renewable energy sources. In 2019, the company announced its commitment to achieving a 30% reduction in CO2 emissions by 2030, compared to 2015 levels. This target is in line with the Paris Agreement's goal of limiting global warming to below 2 degrees Celsius.

To achieve its decarbonisation goals, Canon is pursuing a range of initiatives, including energy efficiency improvements, renewable energy procurement, and carbon offsetting. One of the key strategies Canon is using is corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, typically a wind or solar farm. The company agrees to purchase a set amount of renewable energy from the provider over a specified period, usually 10-20 years. This provides a stable revenue stream for the renewable energy provider and enables the company to secure a reliable source of renewable energy to power its operations.

Canon has entered into several corporate PPAs in recent years, including agreements to purchase wind power from a wind farm in Texas and solar power from a solar farm in Virginia. These agreements have enabled Canon to significantly increase its use of renewable energy and reduce its reliance on fossil fuels. In 2020, Canon announced that it had achieved its goal of sourcing 100% renewable electricity for its European operations, thanks in part to its corporate PPAs.

In addition to corporate PPAs, Canon is also investing in on-site renewable energy generation. The company has installed solar panels at several of its facilities around the world, including its headquarters in Tokyo and its manufacturing plant in Thailand. These solar panels generate clean electricity that can be used to power the company's operations or sold back to the grid. Canon is also exploring the use of other renewable energy sources, such as geothermal and biomass.

Canon's commitment to decarbonisation is part of a broader effort to improve its corporate energy performance. The company has set a goal to reduce its overall energy consumption by 3% per year, compared to 2015 levels. To achieve this goal, Canon is implementing a range of energy efficiency measures, such as upgrading lighting systems, optimizing HVAC systems, and improving production processes. These measures not only reduce the company's carbon footprint but also help to reduce operating costs and improve profitability.

Canon's commitment to sustainability and corporate social responsibility extends beyond its own operations. The company is also working to promote sustainability throughout its supply chain. Canon has established a set of environmental and social procurement guidelines that it expects its suppliers to adhere to. These guidelines cover issues such as greenhouse gas emissions, waste management, and human rights. By working with its suppliers to improve their sustainability performance, Canon is helping to create a more sustainable and responsible global supply chain.

In conclusion, Canon Inc. is a Japanese multinational corporation that is committed to decarbonisation, renewable energy, and corporate social responsibility. The company's ambitious targets to reduce its carbon footprint and transition to renewable energy sources are supported by a range of initiatives, including corporate PPAs, on-site renewable energy generation, and energy efficiency improvements. Canon's commitment to sustainability extends beyond its own operations and encompasses its entire supply chain. By taking a holistic approach to sustainability, Canon is helping to create a more sustainable and responsible future for all.