Initiatives for SDGs Life Solutions Company

(This article is as of September 2021)

Photo: Masaharu Michiura, CEO, Life Solutions Company, Panasonic Corporation / Title: Creating sustainable spaces that support well-being through a circular business model

In 2019, following a change in our company name, the Life Solutions Company redefined its company mission as "Expand 'A Better Life' to home, community and society" and company vision as "Make a better comfortable life with human-centered solution." Our contribution to the Sustainable Development Goals (SDGs) consists of providing spatial solutions that support both human well-being and environmental sustainability through a pursuit of comfort that is human-centered rather than technology-centered.

Figure Title: Make a better comfortable life with human-centered solution. In order to realize the better comfortable life with human-centered solution, Panasonic developed a coordinate space in collaboration with business design and data analysis partners. This involves the "User of Space (Person/People)", the "Provider of Space (Business)", and the "Realizer of Space (Products/service/technologies)". For the "User of Space", there is the emphasis on Kansei values (value of sensation), which include "the person who he/she wants to be (personally)", "Diversified lifestyle and work style", and "Realization of well-being". For the "Provider of Space" which include the space-providing companies and space-using companies, the emphasis is to improve competitiveness and to consider resources and the environment. This includes "Utilizing assets/Improving productivity", "Securing diverse and excellent human resources", and "Reduction of energy use and emissions". And for the "Realizer of Space" which includes Panasonic, other manufacturers, and design/construction/distribution/service companies, in order to maximize value and business opportunities, the key is business partnership and co-creation to create provided value.

Human-centered approach creates new value for well-being and environment

For office spaces, our work has long been focused on increasing energy efficiency by controlling indoor lighting, climate and other systems based on human flows and numbers. Going forward, we aim to use AI and other technologies to optimize the comfort of the space around each individual according to the setting, time of day, and other factors, and thus deliver more customized value that promotes individual well-being.

We are also an industry leader in the development and sales of solar panels, storage batteries and other electrical equipment designed for energy generation, storage, and conservation. We have found that incorporating a human-centered approach to optimizing spaces has created more room for energy efficiency, a long-time goal of ours. Using IT, we hope to achieve new levels of environmental sustainability.

Circular business that follows buildings through entire lifespan

For a long time, we’ve adopted a scrap-and-build business model that constantly seeks to offer something new to offices, stores, hotels and other spaces. In the years ahead, we believe software should be used to update entire buildings in addition to physical renovations. A circular business that follows each building through its entire lifespan is our ultimate vision. We will strive to create a circular economy-style business with our partner companies by creating a recurring-revenue model where we stay with the customer and deliver value even after the sale and handover.

Improving access to sanitary water with well water purifiers

Our contribution to well-being is global. For example, in 2019, we launched a well water purifier business in Indonesia. Many of the world's people still live on well water, and ensuring access to safe water resources is part of the SDGs. By developing this new business, we hope to expand the scope of our contribution to the SDGs.

We must accelerate our work in sustainability, even beyond 2030

Photo: A shot of Masaharu Michiura, CEO, Life Solutions Company, speaking.

The SDGs have 2030 as their target year, but that is no stopping point. We believe the work of creating a sustainable society will continue on indefinitely. We must accelerate our contribution to the SDGs. And in partnership with others, we must respond more flexibly to the unexpected social challenges that happen down the road.