Panasonic Outlines Green Initiatives in Run-up to 2018 Centennial
Panasonic Corp. president Fumio Ohtsubo announced in Japan during the CEATEC Electronics Show in October the launch of a wide-reaching and long-term environmental action plan whose fulfillment is targeted at the company’s hundredth anniversary in 2018. He said that the company aims, through eco-friendly product development and manufacturing practices, to create a positive environmental impact while it doubles its sales, by then, of “eco-conscious” products over the Fiscal Year 2010 sales levels it had already achieved for those types of products.
Panasonic has set a high bar with its “Green Plan 2018” that will impact all its business activities, but in particular, the company is tackling CO2 emission reduction, waste recycling and reduction in water usage. Ohtsubo said the goal, through implementation of the plan, is for Panasonic to become the Number One maker of “eco-conscious” products and solutions. Further, he said he expected Panasonic’s eco-related business activities to achieve ¥3 trillion (the equivalent of around $36.3 billion in U.S. dollars) in worldwide sales for the company by 2018 – and to account for a 30 percent slice of all of Panasonic’s sales.
A linchpin of Green Plan 2018’s plan’s success, he added, would be the completion of Panasonic’s acquisition of Sanyo, a global leader in smart energy technology generation and storage. Panasonic, which owned just over 50 percent of Sanyo, just completed its tender offer for shares in Sanyo it did not already own, bringing its stake in the company to more than 80 percent, and it is expected to finalize the acquisition, which would make Sanyo a wholly owned subsidiary of Panasonic. He said the acquisition would have Panasonic and Sanyo “all working in one group, making our offering [to the market] more compelling and complete.