In 1932, Panasonic founder Konosuke Matsushita expressed his vision: "human happiness can be maintained and continuously improved through prosperity in both matter and mind. Lasting happiness in life can be attained only when spiritual stability is coupled with the supply of material resources." The realization of this vision, he concluded, just 14 years after the company's incorporation, was its true mission. He announced a 250-Year Plan for realizing an ideal society enjoying both material and spiritual well-being, or in other words, "prosperity in both matter and mind."

To fulfill this mission, we have been striving, to this very day, to bring people happiness and prosperity, mainly through the delivery of products and services. In developed countries, we have plenty of material goods, and most experience serious discomfort only rarely. But have we really come close to attaining "prosperity in both matter and mind?" One cannot help but feel concerned about the depletion of natural resources and wonder whether we will be able to sustain a viable global environment for future generations.

In 2022, we formulated our long-term environmental vision, Panasonic GREEN IMPACT, expressing our resolve to make a positive impact on the global environment and society. Looking ahead some 160 years to the completion of our 250-Year Plan we recognize that climate change and resource depletion are the most pressing and important social issues of our present time.

The term "avoided emissions" denotes the amount of CO₂ emissions avoided by replacing existing products or services with advanced renewable energy technologies and energy-saving products. For instance, the reduction in CO₂ emissions resulting from replacing a 10-year-old air conditioner with a newer air conditioner that consumes less power can be expressed in terms of avoided emissions.

I believe that while all companies need to strive to bring their own CO₂ emissions down to net zero, those offering technologies and products which can contribute to societal CO₂ reduction have a responsibility to promote their adoption. Avoided emissions provides a metric for measuring a company's contribution to addressing climate change, and if shared rules are established for its measurement, it will be possible to compare the effectiveness of efforts by various companies. I anticipate that this will foster equitable evaluation and healthy competition, driving forward society's energy transition.

Currently, many companies in the electrical appliance industry share our commitment to the international standardization of avoided emissions as a metric. Moving forward, it's crucial that not only the appliance industry but also various other industrial sectors worldwide engage in emissions reduction efforts, to move forward with societal CO₂ reduction. More specifically, transitioning to renewable-energy electricity sources requires efforts in Japan and around the world.

To advocate for these propositions, the Panasonic Group participated in the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). During the conference, acting on my own desire to contribute to industry-wide emissions reduction efforts and to make an impact on the stances of other companies and government agencies, I spoke at a seminar sponsored by Japan's Ministry of Economy, Trade, and Industry, and consulted government representatives, corporate leaders, and investors. I feel that this action helped the participants to reach a deeper understanding of the importance of avoided emissions. To mitigate climate change, it is important not only for countries and companies, but also for each and every one of us, as members of society, to raise our awareness and change our behavior. The Panasonic Group will continue to face its own responsibilities, expand its impact on society, and promote the creation of opportunities for everyone to take action to protect the global environment.

The enjoyment of our daily lives is highly dependent on the resources present on Earth. As these resources dwindle, the production of goods is compromised, leading not only to inconvenience and discomfort, but also to negative impacts on ecosystems and the escalation of international conflicts among many other negative effects. This is exactly why it is important to recycle and repurpose existing materials and foster resource recycling. However, since resource recycling poses a challenge in that it often incurs higher costs than using new materials, it is very important that we create technologies that make using recycled materials less expensive.

Recognizing that enhancing resource efficiency contributes to decarbonization, the Panasonic Group is committed to playing its part by reinforcing efforts toward a circular economy, increasing the value generated by resources and reducing the burden on the environment.