Achieve sustainable development

In 2015, the 21st United Nations Climate Change Conference adopted the Paris Agreement, calling for the realization of the Sustainable Development Goals by 2030. Yokogawa is now well on its way to achieving this goal, setting three major goals in August 2017: achieving net zero emissions, ensuring health and well-being, and transitioning to a circular economy.

These three goals are also in line with China’s official plan for the future.

“By 2030, Yokogawa aims to contribute to three main areas – net zero emissions, circular economy and ensuring health and well-being – which are all related to the key indicators of the Sustainable Development Goals (SDGs).”

“In addition, we also refer to the 14th Five-Year Plan of the Chinese government and think about how, as a part of the community, we can assist and support the Chinese government in realizing the 14th Five-Year Plan.” The 14th Five-Year Plan refers to the national plan for China’s economic and social development for the 14th Five-Year period from 2021 to 2025. In addition to economic development and people’s well-being, and also emphasizing green transformation, promoting the reduction of carbon emissions and energy consumption, Yokogawa Electric pays special attention to social safety, security and sustainability, which is also part of the 14th Five-Year Plan to achieve. And the technology we’re going to develop is consistent with those goals.”

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“Yokogawa’s current market presence in China is still insufficient to achieve the company’s three goals. Therefore, we try to introduce the latest technological advantages for digital transformation, including AI(artificial intelligence), VR(virtual reality), XR(Extended reality), cloud technology and edge solutions. However, some of these technologies have not been widely covered, so there is a lot of cooperation with outside companies.

Beyond that, human well-being is an important goal. The proportion of consideration of living environment and quality of life will increase with the increase of people’s age. Yokogawa has entered the life sciences market related to public health, an area we will challenge, and has already done so with local partners in China.

The other is the new industry sector, where many new technologies are emerging, especially in renewable energy. Using these resources can reduce energy consumption, reduce carbon dioxide emissions, and develop new energy, automotive LED battery business, as well as semiconductor or mobile business. Yokogawa will challenge more new business areas, including entering the biopharmaceutical sector, and will not rule out food and beverage.” Takeoka Ichihiko confidently painted the grand blueprint of Yokogawa Electric.

The traditional thinking that profit creation is the only indicator is outdated. Successful enterprises in the 21st century also attach importance to social responsibility.