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- Aiming to Achieve Net Zero by 2050
Aiming to Achieve Net Zero by 2050
The JFR Group aims to achieve net-zero greenhouse gas emissions*1 throughout its entire value chain by 2050 through both the “reduction of greenhouse gas emissions” and “promotion of circular economy.”

Towards Net Zero in 2050
Recently, climate change has progressed to a much more serious level, endangering not only future generations but all people, including the present generation. The Group has positioned climate change as an important issue in sustainability management and is taking countermeasures to address the risks and opportunities associated with climate change, based on the recognition that these risks and opportunities will have a significant impact on our business strategies.
Targets
The Company recognizes that setting ambitious medium and long-term reduction targets and developing a roadmap to achieve them is a prerequisite for promoting climate change action throughout the Group. Based on this, we obtained certification through the Science Based Targets (SBT) initiative*2 in 2019 for our Scope 1, 2, and 3 greenhouse gas emissions reduction targets. In 2021, we reacquired SBT certification with a "1.5°C target," raising our 2030 Scope 1 and 2 GHG emissions reduction target from 40% to 60%
Target year |
Targets with SBT certification |
FY2050 |
●Scope 1, 2, and 3 GHG emissions reach Net Zero |
FY2030 |
●60% reduction of Scope 1 & 2 GHG emissions
(vs. FY2017) |
(compared to base year 2017).
Direction of Efforts Toward Net Zero Emissions
To achieve net-zero emissions by 2050, the Group will focus
on “Reduction of GHG emissions" and “Resource recycling.”
Specifically, we will work to reduce Scope 1 and 2 GHG
emissions through extensive energy conservation and increased use of renewable energy in our stores.
Scope 3
GHG emissions will be reduced through collaboration with
our suppliers and customers, while strengthening 3Rs*3 and
expanding circular business.
*1. A thorough reduction of GHG emissions, with the remaining emissions being reduced
to practically zero after subtracting the amount removed through forest absorption,
CCS (CO2 capture and storage), etc.
*2. The CDP was jointly established in 2014 by CDP, the UN Global Compact, the World
Resources Institute (WRI), and the World Wide Fund for Nature (WWF) to enable companies
to set ambitious emission reduction targets in line with the latest climate science.
*3. Reduce, reuse, and recycle are collectively called the three R’s.
JFR Group 2050 Net Zero Transition Plan
The Group believes that it is necessary
to strengthen its strategic resilience from
a medium- to long-term perspective
under both the 1.5°C/less than 2°C
scenario and the 4°C scenario to achieve
net-zero emissions in 2050.
To this end, we have formulated a
transition plan that identifies specific
initiatives from short-, medium-, and
long-term perspectives to capture new
growth opportunities such as proactively
respond ing to market changes in
response to positive opportunities while
developing appropriate measures to
avoid negative risks in our business
strategy.
JFR Group 2050 Net Zero Transition Plan

FY2022 Scope 1 and 2 GHG Emission Results
In fiscal year 2022, the Group’s GHG emissions were 109,785 t-CO2, down 10.6%
compared to fiscal year 2021.
The Group’s GHG emissions also decreased by 43.5% compared to fiscal year 2017, which is its SBT base year.
Thus we are making good progress toward the achievement of SBT.

FY2022 Scope 1 and 2 GHG emission results
FY2017 |
FY2021 |
Forecast in FY2022 |
|||
Results |
Results |
Forecast |
Compared with FY2017 (compared with base fiscal year) |
||
Total Scope 1 and 2 emissions |
194,154 |
122,812 |
109,785 |
-43.5 % |
|
Breakdown |
Scope 1 emissions |
16,052 |
14,004 |
13,714 |
-14.6 % |
Scope 2 emissions |
178,102 |
108,808 |
96,071 |
-46.1 % |
※ Obtained third-party assurance from LRGA Limited.
Expanding use of renewable power for sustainable stores
(share of renewable energy)

The Group, whose main operating companies are the
retailers Daimaru Matsuzakaya Department Stores and
PARCO, generates more than 90% of its Scope 1 and 2
emissions from those stores, and approximately 80% of
these emissions are associated with the use of electricity.
Therefore, we recognize the need to save energy, improve
energy efficiency, and switch to renewable energy sources
for the electricity used in our stores.
Stores in the Kansai and Kanto regions are gradually
switching to renewable energy. This began with Daimaru
Shinsaibashi, which opened in 2019 and operates on 100%
renewable energy. As a result, the ratio of renewable energy
in FY2022 was 33.6%, and Scope 1 and 2 emissions were
43.5% lower than in FY2017, the base year.
In April 2023, we switched over to large-scale stores in
the Chubu region, including Matsuzakaya Nagoya (excl.
the North Bldg.) and Nagoya PARCO, in an effort to further
improve the re-energy rate.
We believe that stores operated with renewable electricity
will improve the environmental value of the buildings and
win the support of our suppliers and customers who are
highly conscious of environmental issues. Therefore, we will
continue our efforts to switch to renewable power going
forward.
*Global initiative that aims to source 100% renewable energy to power business activities

Contributing to the spread of renewable energy
Solar panels have been installed on the rooftops of Shibuya PARCO and Kyoto Zero Gate to generate their own electricity. In the future, we will work to introduce additional* renewable power procurement and improve energy resilience by diversifying our procurement sources.
*Contribute to the spread and expansion of new renewable power sources and be effective in reducing CO2 emissions

Expansion of electric vehicle (EV) charging stations
Angel Park, a Group company involved in the operation of parking facilities, has installed EV charging stations that customers can use free of charge. More stations were added in FY2022, bringing the total to 10. From April 2023, Angel Park will switch to 100% renewable energy for electricity throughout the building, which will not only improve convenience for customers using electric vehicles, but will also contribute to the decarbonization of society.

Energy-saving initiatives
Instructions and Responses to Public Regulations
The Group supports laws, regulations such as the “Act on Promotion of Global Warming Countermeasures (Global Warming Act)” and the “Act on Rationalization of Energy Use and Shift to Non-fossil Energy (Energy Conservation Act)”, and policies related to climate change and reducing energy consumption. As a result, are working on various energy-saving initiatives.
New Shibuya Parco―an environmentally friendly next-generation building
Shibuya Parco, which opened on November 22, 2019, has been selected for the Ministry of Land, Infrastructure, Transport and Tourism’s “Sustainable Building Leadership Project (CO2 Leadership Project)” for its efforts to (1) create attractive outdoor spaces including a roof top square and multi-level pathways; (2) actively introduce high-efficiency energy systems including a cogeneration system (CGS)※; and (3) promote the efficient use of energy through digital communication technology. In addition to installing the latest equipment and fixtures, we also “visualized” energy efficiency for energy management systems to make the building a multi-purpose commercial space showcasing efficient energy use with lower CO2 emissions.
※ Cogeneration system (CGS): System that simultaneously produces and supplies electricity and heat from a single energy source

an environmentally friendly
next generation building
Introduction of energy-efficient equipment and promotion of LED conversion
The Group adopts various energy-saving measures to reduce CO2 emissions and prevent global warming. We are gradually introducing energy-efficient equipment when updating or renovating facilities and opening new stores.
Daimaru Matsuzakaya Department Stores and PARCO are striving to reduce electricity consumption and CO2 emissions by replacing existing lighting with LED units. In FY2023, approximately 19,500 lighting units were switched to LED, bringing the cumulative total to 189,700 units.
*Reduction of CO₂ emissions in FY2023 from LED conversion: approx. 9,485 t-CO₂ per year.


(“Table Plus,” food floor of Matsuzakaya
Nagoya store)
Electrifying the corporate fleet
In FY2023, Daimaru Matsuzakaya Department Stores switched 21 of its vehicles to EVs, bringing the total number of EVs in operation to 177 (47.6% of total). We will continue to promote the conversion of company vehicles to EVs to reduce CO2 emissions.
Since 2011, Daimaru-Matsuzakaya has adopted "telematics" (mobile communications) for its fleet of independently operated vehicles. Telematics" is a system that collects data on how employees operate the vehicles, such as excessive speed, sudden acceleration/deceleration, and fuel consumption. The Safety Operation Committee meets once every three months and uses the telematics data to improve fuel efficiency and implement eco-driving and safe driving that produces less low CO2 emissions.
Reduction of Scope 3 Emissions in Collaboration with Suppliers
The Group’s Scope 3 emissions account for approximately 95% of the emissions from the entire supply chain. In light of this situation, the Group considers the reduction of Scope 3 emissions as well as the reduction of Scope 1 and 2 emissions as its important task and thinks it needs to work on that in collaboration with suppliers.
FY2022 Scope 3 Emission Results
In fiscal 2022, Scope 3 emissions were 2,761,669 t-CO2, up 14.1% compared to fiscal 2021. It was because Category 1 (purchased goods and services) increased from the previous fiscal year due to business recovery resulting from mitigation of the impact of COVID-19. The reduction compared to the SBT base year of fiscal 2017 was 5.7%


Explanatory Meeting for Suppliers
Daimaru Matsuzakaya Department Stores has strived to reduce Scope 1 and 2 emissions by switching
to renewable energy-sourced electricity and LED lighting and electrifying corporate fleet in its stores and
head office. On the other hand, its Scope 1 and 2 emissions are only approximately 5% of the total supply
chain emissions due to the nature of the retail business, and Scope 3 emissions account for the remaining
approximately 95%.
In light of this, Daimaru Matsuzakaya Department Stores held an “explanatory meeting concerning its
initiatives to realize a decarbonized society” for suppliers in April 2022 (attended by 300 people from 253
companies). We showed the Group’s determination by sharing the company’s initiatives to realize a
decarbonized society and explained that it is essential to collaborate with suppliers to reduce Scope 3
emissions and that visualization of emissions by each supplier will be the first step for reduction.
Going forward, we will contribute to realizing a decarbonized society by the entire supply chain by
considering and implementing concrete measures to reduce Scope 3 emissions in collaboration with suppliers
to achieve net zero by fiscal 2050

Ginza Six was certified as an “Urban Oasis” under SEGES
In October 2017, the rooftop garden of Ginza Six “Ginza Six Garden” was certified as an “Urban Oasis” under the “SEGES (Social and Environmental Green Evaluation System)*” (administered by the Organization for Landscape and Urban Green Infrastructure), which recognizes comfortable and attractive urban green areas.
The “Ginza Six Garden,” a rooftop garden of about 4,000-square-meters, is located on the roof of a 13-story building about 56-meter high. A green area of approximately 2,200 square meters, which accounts for about 56% of the rooftop garden, was newly created. Our large-scale greening efforts in the prime downtown location were highly recognized and we obtained such certification.
*SEGES:(Social and Environmental Green Evaluation System) A system to recognize and certify outstanding green areas of the companies that contribute to society and the environment through greening activities

Creating a society that co-exists with the environment
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Aiming to Achieve Net Zero by 2050
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Environment Management System
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Information Disclosure in Line with TCFD Recommendations
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The Circular Economy the Group aims to create
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Proposal for Environment-Friendly Lifestyles
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Reduction of Wastes and Water Usage
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Information Disclosure in line with TNFD Recommendations (Biodiversity Conservation)
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Environmental Data
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Acquisition of Third-Party Assurance
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Creating a society that co-exists with the environment
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