AHM Carbon Disclosure Statement American Honda Motor Co., Inc. recognizes the importance of addressing climate change and reducing our greenhouse gas (GHG) emissions. That is why, as we work toward our long-term goal of achieving net zero carbon emissions by 2050, we are taking interim steps to reduce carbon emissions from our products and operations. This includes phasing out the sale of internal combustion engines and the introduction of battery electric and fuel cell electric zero emission vehicles. We anticipate that our new vehicle sales will be 100% battery electric vehicles or fuel cell electric vehicles by 2040.
To mitigate climate impacts from our manufacturing operations, we have entered into Virtual Power Purchase Agreements (VPPAs), a financial contract that provides Renewable Energy Credits from specific renewable energy projects that compensate our emissions through carbon offsets.
We report our GHG emissions in accordance with the Greenhouse Gas Protocol, the most widely used international accounting tool used by government and business organizations. We verify our global Scope 1, Scope 2, and key categories of Scope 3 GHG emissions data through independent third-party audits and assurance.
We also disclose our global carbon emissions and climate actions to external stakeholders, such as the CDP (formerly the Carbon Disclosure Project), a global non-profit organization that runs the world’s largest environmental disclosure platform, as well as the Task Force on Climate-Related Financial Disclosures (TCFD) which provides information to investors about what companies are doing to mitigate the risks of climate change.
We believe that transparency and accountability are essential for building trust and credibility with our stakeholders. We annually publish detailed information about our global carbon emissions in the Honda ESG Data Book (see pp. 133-138) as well as within the Honda Integrated Report.