Sony's mission is to inspire curiosity, providing deeply appealing products, content, and services that excite customers all over the world. To achieve this, we are determined to live out the spirit expressed in Sony's Founding Prospectus - innovation and challenge, which are the roots of our unique corporate culture.
The Sony Group conducts business in a vast range of fields, so operating conditions and stakeholders' interests and expectations of Sony vary widely depending on our business presence in each of these areas. Recognizing this tremendous diversity, we are carrying out our corporate social responsibility (CSR) initiatives as a good global corporate citizen, and have set a CSR agenda comprised of seven key areas that span broadly across all of Sony's specific businesses: corporate governance, compliance, human resources, responsible sourcing, quality and services, environment, and community engagement. By operating businesses that are innovative, ethical, sound and responsible, we intend to continuously enhance corporate value while striving to help build a better, more sustainable world for all.
A new Corporate Governance Code was introduced by a cross-industry council of experts in Japan in June 2015, aiming to establish fundamental principles for effective corporate governance at listed companies. This new Code encourages companies to take self-motivated actions to achieve sustainable growth and increase corporate value over the mid- to long-term and also sets expectations that Japanese companies ensure accountability, establish appropriate relationships with stakeholders and promote diversity and inclusion.
Sony has long recognized that corporate governance is extremely important in operating in a way that increases corporate value over the mid- to long-term. Thus, Sony strengthened its corporate governance structure under the "Company with Three Committees" system in 2003 and since then has worked to further enhance it through several initiatives. Sony will continue to do so, embracing the principles of the Code and reviewing them thoroughly with its management team and Board of Directors.
Sony's corporate culture has always given high regard to diversity, and I believe this is the source of Sony innovation and is absolutely essential for creating new value while achieving business growth. To realize the broader mission of our business, it is crucial that Sony employees around the world make the most of their diverse talents and backgrounds to explore new ways to innovate and constantly take on new challenges, unconstrained by the status quo.
Sony also continuously devotes its talents to preserving the natural environment for future generations. Sony's long-term vision is to achieve a "zero environmental footprint" throughout all stages of its product lifecycles and business activities by 2050. To that end, we introduced our new "Green Management 2020" group environmental mid-term targets in June 2015 for the 2016 to 2020 period, which aim for a 30% reduction in the average annual energy consumption of electronic products, as well as other ambitious environmental goals.
While working to help build a better and more sustainable world, Sony will continue fostering a corporate culture that values CSR by pursuing initiatives in the seven key areas mentioned above. As we pursue these endeavors, we look forward to engaging in meaningful dialogue with our stakeholders that will help inform how we approach this important work.