Targets
 Sony undertakes environmental activities according to specific environmental mid-range targets which are formulated periodically. Currently, under Green Management 2010 -- a set of environmental targets drafted in 2006 -- the Company is spotlighting a climate change goal to cut total CO2-equivalent greenhouse gas emissions from all facilities by 7% or more compared to fiscal year 2000 levels.
 In setting this goal, Sony was reviewed by the World Wide Fund for Nature (WWF) and third-party experts and subsequently participated the Climate Savers Programme promoted by the WWF. Inclusion in this initiative requires the establishment of ambitious targets in absolute terms.
 In 2008, Sony and the WWF jointly organized the Climate Savers Tokyo Summit, a public event at which Sony Chairman and CEO Howard Stringer announced the signing of the Tokyo Declaration by the 12 companies participating in the summit.
 The Tokyo Declaration recognizes the Intergovernmental Panel on Climate Change (IPCC) report on climate change and its conclusion that global greenhouse gas emissions need to peak and begin to drop in the next 10-15 years, to well below half of the level recorded in 2000, by the middle of the 21st century.
 Sony will continue to actively address issues associated with climate change, as Sony Corporation and the group it leads strive to reach the aforementioned medium- and long-term targets.


Understanding Risk and Opportunity
 Tackling climate change is a tremendously important commitment, not only to make certain of a sustainable society but to ensure business continuity at Sony itself.
 Sony firmly believes in the need for efforts to protect the environment, which include measures to avert climate change. Further, responses and eco-conscious actions can carry latent risk that could adversely impact operations if not executed properly.
 For example, new or amended laws and regulations might elicit a higher carbon tax or impose tougher energy-saving standards on products. Rising sea levels and abnormal weather caused by climate change could require certain measures with underlying physical risk. Markets might go through a correction, as evolving consumers' perceptions trigger different purchasing trends.
 Sony realizes that flawed responses could have major social and financial ramifications. To deal with legal and regulatory developments, the Company is evaluating underlying risks and making preparations to address probable risk.
 For example, the Company has established and maintains a system for collecting information on laws and regulations in force in countries around the world to ensure that activities and products comply with existing requirements.
 However, alongside the challenges that climate change presents to Sony's businesses exist opportunities. A notable example is the widespread use of products boasting improved energy-efficiency ratings to help reduce the factors that spur climate change. It is likely for governments to implement policies designed to encourage demand for such products, and heightened consumer interest may create new market needs as a result.
 This is a wonderful chance to contribute to enhanced consumer lifestyles and to society through eco-conscious products infused with Sony innovation. New business opportunities related to energy and the environment -- like the application of dye-sensitized solar cells already a focus of research and development -- are likely to increase, helping to reduce greenhouse gas emissions.

 In July 2006, Sony joined the Climate Savers Programme that partners the WWF (World Wide Fund for Nature) with companies to plan and carry out efforts to reduce greenhouse gases emissions. Under the program Sony is committed to reducing emissions of greenhouse gases from all of its sites and lowering product annual energy consumption, as well as to work with the WWF to communicate with consumers.

 In February 2008, Sony and the WWF jointly held the Climate Savers Tokyo Summit 2008 at the Sony headquarters in Tokyo that was attended by current and intended program participants. In addition to the WWF's annual assembly, the summit for the first time welcomed participants representing industry and government, as well as the press. The summit featured presentations highlighting the efforts and achievements of program participants, as well as panel discussions featuring leading experts, and a keynote address by James Leape, Director General of WWF International. The highlight of the event was the announcement by Sony Chairman and CEO Howard Stringer of the Tokyo Declaration, signed by 12 companies that participate in Climate Savers Programme. As a representative of the signatory companies, he declared that in order to realize a low-carbon society, the companies will take further actions such as to "try to widen the scope of emission reduction activities in partnering with the business partners" and to "promote a low-carbon lifestyle to consumers and customers".

 As a measure to prevent global warming, Sony carries out activities related to emissions trading, simultaneously with implementing energy conservation measures at its sites.

United States
 In addition to its own energy saving initiatives, Sony's global warming countermeasures include participating in emissions trading programs. In the United States, Sony Electronics Inc. (SEL) has joined the Chicago Climate Exchange (CCX), a voluntary greenhouse gas emissions allowance trading system. Under CCX guidelines, SEL is committed to achieve a 6% reduction of total CO2 emissions* by 2010 from energy used at its sites in the United States when compared to the average emission between 1998 and 2001 as the baseline.
The scheme requires participating companies to commit to incremental emissions reduction targets over two phases until 2010. Audits under the scheme confirmed that SEL had achieved its Phase I (2003-2006) target of a 4% reduction from the baseline level. In addition, if reductions were not achieved through their own reduction efforts, participating companies could purchase emissions credits from the CCX's emissions reduction project to comply with targets. SEL achieved its Phase I targets without purchasing credits.

Japan
 In Japan, a pilot emissions trading scheme was launched in 2008. This scheme -- an experimental undertaking designed to set necessary standards and detect any problems -- was instituted to prepare Japan for the possible introduction of a full-scale scheme at some time in the future. Sony has set targets for reducing the absolute volume of emissions from its semiconductor fabrication business -- its principal source of CO2 emissions in Japan -- for fiscal year 2010 and has applied to participate in the pilot scheme as the Sony Group.
 Sony is also an investor in the Japan Greenhouse Gas Reduction Fund (JGRF). This carbon fund was established in December 2004 to acquire certified emissions reductions from greenhouse gas reduction projects in developing countries in the form of credits for distribution to investor companies. As a consequence, as of the end of March 2009, Sony had purchased credits worth approximately 2,800 tons of CO2.
 Moreover, in May 2009, Sony applied for business planning of "Domestic Clean Development Mechanism" which is a framework for purchasing credits generated from greenhouse gas reduction operations by small-to-medium-sized companies in Japan. Credits generated from this operation will be acquired after year 2010.

 Sony Bank Inc. offers "Offset Your CO2 through Investment," a service that enables customers to participate in environmental protection efforts while the Bank manages their investments. Under this service, Sony Bank purchases greenhouse gas emission rights for every investment over a set amount, which it then donates to the Japanese government, thereby contributing to efforts to reduce greenhouse gas emissions. The service is available with three of the Bank's funds. In fiscal year 2008, Sony Bank contributed 1,000 tons of greenhouse emission rights.

More information>>http://moneykit.net/visitor/eco/eco04.html(Japanese only)

 Given growing concern about recent significant developments regarding the climate change problem, companies have come under increasing pressure to improve the credibility of their greenhouse gas emissions data and to expand the scope of recognition concerning these emissions. In response to society's expectations in this regard, the Carbon Disclosure Project (CDP), which promotes disclosure of corporate greenhouse gas emissions, and the Electronic Industry Citizenship Coalition (EICC), which advocates the establishment of common environmentally and socially responsible procurement practices, have initiated pilot projects aimed at accurately ascertaining companies' greenhouse gas emissions throughout the supply chain. Sony is participating in both of these projects and has commenced trial efforts to improve its grasp of greenhouse gas emissions by major contracted original equipment manufacturer (OEM) and original design manufacturer (ODM) suppliers. In fiscal year 2009, Sony will evaluate the results of these trials and, based on its findings, reexamine the manner in which it gathers greenhouse gas emissions data throughout its supply chain, extending to components suppliers.