AUCNET Receives Validation from Science Based Targets initiative (SBTi)

- Strengthening Efforts to Obtain 3rd-party Perspectives on GCV Management Indicator -

TOKYO, March 26, 2024 /PRNewswire/ -- AUCNET INC. (hereinafter "AUCNET") is pleased to announce that the company has received validation for its greenhouse gas emission-reducing targets from the Science Based Targets initiative (SBTi) (*1), an international collaborative organization which certifies that GHG emission reduction targets are scientifically consistent with the goals set forth in the Paris Agreement (*2).

Logo: https://cdn.kyodonewsprwire.jp/prwfile/release/M105709/202403218303/_prw_PI1fl_RvU0qB9m.jpg 

The AUCNET GHG emission reduction targets that have obtained validation, using 2021 as the base year, seek to reduce Scope 1 & 2 emissions by 42%, and Scope 3 emissions by 25%, by 2030.

- Initiatives for Sustainability Management
Based on its sustainability policy of the "Circulation Engine, circulating valuable goods on a global scale," AUCNET works with its partners throughout the world in a variety of industries to build a circular distribution system that delivers valuable goods from all over the world to those who need them, and since its founding, the company has contributed to the creation of a sustainable regional environment. In 2021, AUCNET established its very own management indicator, the Gross Circulation Value (GCV) (*3), which expresses in monetary value the impact of AUCNET's business activities on the economy and on the environment through the distribution of reused goods, and is linking its sustainability policy to concrete actions.

- Obtaining third-party perspectives on the GCV management indicator
Regarding the GCV management indicator, AUCNET is striving to increase its reliability and validity by obtaining third-party perspectives. The company obtained third-party warranty (*4) regarding the reliability of its environmental data in April 2023, and in July 2023, it prepared a report on GCV (*5) with respect to the evaluation of its validity from an economic perspective. By obtaining at this time the "1.5 C level" validation from the SBTi, AUCNET will be able to more accurately undertake the reduction of GHG emissions from business activities, which is a component of its unique GCV indicator.

Image: https://cdn.kyodonewsprwire.jp/prwfile/release/M105709/202403218303/_prw_PI2fl_FrF96Y0s.jpg 

Going forward, AUCNET will continue working with all of its stakeholders to contribute to the realization of a sustainable society.

References:
(*1) An initiative that requires companies to set reduction targets consistent with scientific knowledge in order to limit the rise in global average temperatures to below 1.5 C. Established in 2015 jointly by four NGOs related to environmental information disclosure, namely CDP, UN Global Compact, World Resources Institute (WRI), and World Wildlife Fund (WWF).

(*2) Aims to hold global temperature increase to well below 2 C above pre-industrial levels and pursue efforts to limit it to 1.5 C.

(*3) URL for details on GCV
https://www.aucnet.co.jp/en/sustainability/GCV/ 

(*4) URL for details on third-party warranty
https://www.aucnet.co.jp/en/sustainability/img/assurance_statement_2022.pdf 

(*5) URL for details on GCV report
https://www.aucnet.co.jp/en/sustainability/img/excerptgcvreportja.pdf 

Overview of AUCNET
- Corporate Name: AUCNET INC.
- Headquarters: Aoyama OM Square, 5-8 Kita-Aoyama 2-chome, Minato-ku, Tokyo, 107-8349, Japan
- Representative Director, President & CEO: Shinichiro Fujisaki
- Date of start of business: June 29, 1985
- Capital: 1,807 million yen (as of December 31, 2023)
- Sales (consolidated): 43,303 million yen (for the fiscal year ended December 2023)
- Number of employees (consolidated): 878 (as of December 31, 2023)
- Business overview: A circular market design company. Online auctions of used cars, used digital products, pre-owned luxury items, flowers, used motorcycles, used medical equipment etc., and provision of services pertaining to distribution.
- Listed: Tokyo Stock Exchange Prime Market (Code 3964)
- URL: https://www.aucnet.co.jp/en/ 

SOURCE AUCNET INC.