Using the natural disaster in Japan as a catalyst for change, Panasonic, (NYSE: PC) one of the largest manufacturers of consumer electronics, has announced its intention to pursue a sustainable future.
By 2018, the Japanese company aims to be ‘Number one green innovation company in electronics industry” as well as being a top three manufacturer of products for the global solar industry. Panasonic plans to achieve this ambition by developing more sustainable products, using renewable energy, and cutting down on energy consumption.
The shift in focus is also due to a recent mandate that saw the Japanese government calling for companies to cut down on energy consumption by 15% in order to reduce the risk of another nuclear disaster. These targets mean that Panasonic will face a ‘tough year’ ahead; already, the company plans to reduce it’s workforce by cutting 17,000 jobs worldwide.
This announcement comes close on the heels of Prime Minister Naoto Kan, announcing the country’s plan to cut it’s reliance on nuclear energy by placing more emphasis on renewable energy and reducing national energy consumption.
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