By aligning environmental, social and governance (ESG) and business growth, Ricoh continues to enhance its sustainability initiatives. The company has announced its inclusion in the TIME World’s Most Sustainable Companies of 2024. As one of the top 500 companies from over more than 30 countries, Ricoh ranked 151st in the overall ranking and 8th out of 39 in the Electronics, Hardware and Equipment industry sector.
This recognition underscores Ricoh’s global leadership in transparency, stewardship and its unwavering commitment to achieving a sustainable society through comprehensive ESG initiatives.
‘Over and above meeting regulations or achieving rankings, being a sustainable company is about taking responsibility for our impact on the world,’ said Jolene Castelyn, Marketing Executive at Ricoh South Africa. ‘Sustainability drives innovation, builds trust and ensures that we contribute to a healthier planet and society. At Ricoh, we believe that sustainable practices are the foundation for long-term success and the well-being of future generations.’
This newly released ranking, compiled by TIME Magazine and research provider Statista, recognised companies that prioritise sustainability and advance corporate responsibility. Based on factors such as revenue, market capitalisation, and public prominence. It assessed over 5000 companies through a four-step process with over 20 key data points:
Sustainable businesses: exclusion of companies that did not meet sustainability criteria.
Commitment and ratings: public commitment to sustainable targets and performance in external rating, such as Carbon Disclosure Project (CDP) score.
Reporting and transparency: publication of ESG report with data for 2022 and use of relevant guidelines, such as alignment with Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB).
Environmental and social stewardship: environmental and social Key Performance Indicators (KPIs) from Corporate Social Responsibility (CSR) reports, including metrics on emissions, energy use, renewable energy, gender diversity and employee turnover rates.
This year, Ricoh has also been named in the Global 100 Most Sustainable Corporations 2024 by Corporate Knights and Asia-Pacific Climate Leaders 2024 list by the Financial Times and Statista.
Ricoh’s approach to sustainability is to pursue a sustainable society through a ‘Three Ps’ balance: Prosperity (economic), People (society), and Planet (environment). To realise this desired society, Ricoh has identified seven material issues in two areas, ‘Resolving social issues through business’ and ‘Robust management infrastructure,’ and set 16 ESG targets in linkage with the material to work toward solving these issues.
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