Carbon Neutrality and Clean Energy
Roadmap Towards Carbon Neutrality by 2050
Key Initiatives and Milestones for Achieving Materiality
Honda is focusing on achieving the four materialities through key initiatives. As priority actions, the
Company is working on reducing CO₂ emissions from product use and corporate activities. For long-term
impact reduction measures, Honda is addressing upstream and downstream CO₂ emissions and
implementing nature-based solutions.
Priority initiatives are classified into specific measures and further broken down into more specific
initiatives. Targets for the Fiscal Year Ending March 2031 have been set, and progress is being monitored.
Specifically, CO₂ emissions are tracked for various product groups within each business segment, as well as
for individual product factories and manufacturing equipment. This approach helps in quantifying CO₂
reduction amounts for each product and factory.
Long-term initiatives for reducing environmental impact include measures that require business
transformation to achieve carbon neutrality. Honda is currently in the phase of preparing and
implementing various strategies to reach this goal by 2050.
To achieve carbon neutrality, multifaceted initiatives are also being promoted in addition to the
electrification of mobility.
Plan for Reducing Total CO₂ Emissions from Products
CO₂ Emissions from Product Use (by Product Type)
Honda has established a plan for reducing the total CO₂ emissions across all business segments as part of its priority initiatives. The plan involves calculating the total CO₂ emissions reductions expected from implementing specific measures within each segment. These reductions are aggregated to form the overall CO₂ emissions reduction plan for the entire company. The CO₂ reduction strategy is closely tied to the initiatives outlined in the milestones and will be achieved through efforts across all business domains.
In the automotive business, Honda aims to achieve a 100% sales ratio of electric vehicles by 2040. Consequently, we expect that CO₂ emissions from product use (Tank-to-Wheel) will reach zero by that year.To reduce CO₂ beyond 2040, it will be necessary for Honda to undertake significant business transformations to achieve carbon neutrality by 2050.
Therefore, as part of our long-term efforts to reduce environmental impact, we are also focusing on developing innovative technologies and preparing for business expansion to facilitate these changes.
CO₂ Emissions Reduction Plan for Automobiles
Initiatives for Carbon Neutrality and Clean Energy
Honda, as a comprehensive mobility company, believes it is essential to actively promote GHG emissions reduction efforts by calculating and disclosing GHG emissions from its global business activities. To achieve this, Honda follows “GHG Protocol,”*1 which is the most commonly used standard for GHG accounting worldwide. Since 2012, Honda has been calculating GHG emissions across its entire supply chain and converting these emissions into CO₂ equivalents for disclosure.
In FYE Mar. 31, 2024, Honda’s total GHG emissions worldwide exceeded 270 million t-CO₂e. Scope 3 Category 11, which pertains to CO₂ emissions from product use, accounts for approximately 80% of this total. The remaining 20% is comprised of three categories: “Scope 1” emissions from direct corporate activities, “Scope 2” emissions from indirect energy use, and “Scope 3, Other Categories” emissions from upstream processes such as resource extraction and downstream processes related to resource disposal.
Honda aims to achieve carbon neutrality by 2050 with the goal of reaching net-zero CO₂ emissions by that year. To achieve this, the Company is prioritizing reductions in CO₂ emissions from product use (Scope 3 Category 11) and from its own business activities (Scope 1 and 2), setting these as key milestones for its efforts.
Total GHG Emissions (Scope 1, 2 & 3)
- GHG Protocol: The Greenhouse Gas Protocol was developed by the World Business Council for Sustainable Development (WBCSD) and the World Resources Institute (WRI).
- The calculation for Scope 3, Other Categories (Category 1) was revised in FYE Mar. 31, 2023.
- For Scope 3, Category 11, the IEA SMP Model was used for calculations until FYE Mar. 31, 2021, while the IEA Mobility Model (MoMo) has been used since FYE Mar. 31, 2022. Additionally, some calculations have been revised starting from FYE Mar. 31, 2023.
