As specific activities, we took actions to meet our targets regarding resources in Green Plan 2021. In order to create our own circular economy businesses, we assessed our entire existing product and solution portfolio to identify items that correspond to the circular economy concept.
The assessments cover how the product is used, the product life cycle, and more than 10 items concerning the product's market. We have completed mapping of the relationships between our existing businesses and the circular economy. Now, we will step by step shift the current businesses to circular economy related businesses based on the mapping.
We accomplished to use at least 42 kt of recycled resin (cumulative from FY2020-2022), and we have also achieved the target of 99% or more for factory waste recycling rate.
We continue to work towards achieving the resource-related targets listed in GREEN IMPACT PLAN (GIP) 2024. We plan to adjust our existing businesses along the circular economy aspects as outlined in our concept above. We are also using the same mapping with future new businesses, and aim to establish at least seven new circular economy business models by 2024.
We plan to improve materials to meet both the characteristics requirements and environmental safety, ensure stable supplies, advance production technology to use new materials, and improve recycling technology, through which we aim to achieve a total of more than 90k tons of recycled resin (cumulative from FY2023-2025). Addtionally, zero waste emissions are important for us as a part of efficient usage of resources and we will continue our efforts to achieve a factory waste recycling rate of 99%.
To accelerate these activities, we started the "Global Circular Economy Project" in April 2020 with Panasonic Europe as the project lead. As one of the project related activities, we are promoting recycling activities in various regions across the world.