- TOKYO, Japan, June 24, 2025 -

Seiko Epson Corporation (TSE: 6724, "Epson") is pleased to announce the approval of the net-zero target and milestone targets it has set based on the Net-Zero Standard of the Science Based Targets initiative (SBTi)¹. Epson is seeking to decarbonize and has set strategic targets for the reduction of greenhouse gas (GHG) emissions. The SBTi has validated them as being science-based and aligned with the 1.5℃ goal of the Paris Agreement.

Climate change and global warming are serious issues for society, and Epson is helping to work toward a solution. We have articulated our long-term goals in "Environmental Vision 2050" and are actively working to reduce the environmental footprint of our products and business activities across the value chain by drawing on the strength of our efficient, compact, and precise technologies. Epson first received approval for its targets in 2018. These targets were subsequently raised to align with the 1.5℃ goal. Epson achieved the elevated targets ahead of schedule by transitioning to 100% renewable electricity worldwide. As a result, we needed to revise our next set of strategic targets. The public is demanding an absolute reduction in GHG emissions (total volume reduction), and we needed to enhance consistency with the total reduction targets already set forth in our environmental vision. Therefore, we submitted the following updated targets to the SBTi. The SBTi reviewed and approved the targets, which are part of a broader strategic plan by Epson to tackle climate change long term.

(All reductions are compared to the baseline year of fiscal 2017 [ended March 2018])

Near-term targets

• Reduce total scope 1 + 2 + 3 emissions² by 55% by 2030.
• Reduce total scope 1 + 2 emissions² by 90% by 2030.

Long-term targets

• Reduce total scope 1 + 2 + 3 emissions² by 90% by 2050.
• Achieve net-zero in 2050.

The 2050 net-zero target is based on the SBTi Net-Zero Standard. Directly reducing all scope 1, 2, and 3 GHG emissions compared to the baseline year is the priority. Neutralization of all residual emissions that cannot be eliminated will be achieved through permanent carbon removal or storage.

Reducing GHG emissions across the value chain, which accounts for 90% or more of Epson's total emissions, requires close collaboration with suppliers. To reduce the environmental impact of purchased goods and services (scope 3, category 1), Epson launched a supplier engagement program called the "Epson Green Supply Chain." Under this program, Epson has moved to increase the accuracy of primary GHG emissions data collected from suppliers by introducing a visualization solution. We have also begun exploring a framework under which we and our main suppliers jointly procure renewable electricity.

Meanwhile, Epson is also developing CO2 absorption technology as a key project in its environmental technology development. Beyond achieving our science-based targets, we aim to contribute to the decarbonization of society by pursuing our additional goal of becoming carbon negative.

• ¹ SBTi is an international coalition focused on environmental action. It supports companies, financial institutions, and other organizations in setting science-based targets (SBTs) for reducing greenhouse gas emissions, with the goal of achieving net-zero emissions by no later than 2050. This initiative is partnered with CDP, the United Nations Global Compact (UNGC), the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF)
• ² The GHG Protocol (internationally recognized standards for calculating and reporting greenhouse gas emissions) defines three scopes for accounting for greenhouse gas emissions:

Scope 1: Direct emissions from sources that are owned or controlled by the organization

Scope 2: Indirect emissions from the consumption of purchased sources of energy

Scope 3: Emissions from an organization's value chain

Reference

The difference between the long-term target approved by the SBTi and the goals set forth in Epson's Environmental Vision 2050
The targets that were recently approved by the SBTi were approved as being science-based targets for achieving net-zero total GHG emissions by 2050, in line with the Paris Agreement's goal of limiting global warming to 1.5℃. On the other hand, Environmental Vision 2050 outlines a broader ambition of not only to achieving the SBTi-approved reduction targets but also of going beyond them by absorbing or removing more greenhouse gases than we emit. This reflects Epson's goal of becoming carbon negative by 2050, contributing further to decarbonization.

https://sciencebasedtargets.org

corporate.epson/en/sustainability/

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