RICOH today 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 & Equipment industry sector. This recognition underscores RICOH's global leadership in transparency, stewardship, and its unwavering commitment to achieving a sustainable society through comprehensive environmental, social, and governance (ESG) initiatives.
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 5,000 companies through a four-step process with over 20 key data points.
- Sustainable Businesses: exclusion of companies that did not meet sustainability criteria
- Commitment & Ratings: public commitment to sustainable targets and performance in external rating, such as Carbon Disclosure Project (CDP) score
- Reporting & 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 & 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. By aligning ESG and business growth, RICOH continues to enhance its sustainability initiatives.