TOKYO, Japan : ORIX Auto Corporation (“ORIX Auto”) announced today that the electricity it uses at its Head Office building is now entirely sourced from 100% renewable energy.
The energy ORIX Auto uses at its Head Office building in Tokyo’s Minato Ward is now entirely sourced from renewable energy with non-fossil fuel energy certificates; as a result, its head office now effectively uses 100% renewable energy.
This is an initiative to leverage electricity from ORIX Corporation, which also serves as a retail electricity provider. More specifically, renewable energy generated at ORIX Group-operated woody biomass exclusive combustion power plants is converted into non-fossil fuel energy certificates with tracking information. ORIX Corporation is then able to provide ORIX Auto with electricity using these certificates.
ORIX Auto’s switch to 100% renewable energy is expected to lead to reductions in CO2 emissions of up to 852 tons per year – this is equivalent to the amount of CO2 absorbed by roughly 60,000 Japanese cedars per year*1.
In November 2019, the ORIX Group formulated its ORIX Corporate Sustainability Policy, which outlines the Group’s plans to gauge the effect its business initiatives have on the environment, and to reduce its overall environmental impacts. In October 2020, the ORIX Group also expressed support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)*2 as part of its initiatives to promote sustainability.
Going forward, ORIX Auto will continue to improve the services it provides its customers and actively engage in reducing its environmental impacts.
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 37 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society.
Caution Concerning Forward Looking Statements:
These documents May contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2019 – March 31, 2020.”