Honda Motor
Honda Motor Co., Ltd. is a publicly traded company headquartered in Tokyo, Japan. In 2023, it reported a revenue of USD 145.4 billion and sold 4,109,000 light-duty vehicles. Honda has set targets for electrifying 30% of the global sales of its automobiles by 2030.
- Ranking position
- #12 /30
- Total score
- 25.0 /100
- ACT
- 20.3 /60
- Core social indicators
- 4.0 /20
- Just transition
- 0.6 /20
- Performance score
- 4.3 /20
- Narrative Score
- ABCDE
- Trend Score
-
- Trend line is up
- Trend line is equal
- Trend line is down
ACT score components
Act assessment
Trend
Honda receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. Honda has not set a target to fully phase out its ICE vehicle sales, but it has set a target to electrify 30% of its global automobile sales in 2030. The company reports shifting its business strategy towards production of battery electric vehicles (BEVs), but there is no specific information on the current size of this business and its share of low-carbon vehicles is currently 0%. Even though the company’s average R&D investment in low-carbon technologies for the last three years is above 21%, there is no evidence that the company reports its share of low-carbon revenue.
Progress towards the Paris Agreement
The company has a target to reduce its scope 1 and 2 emissions by 46% by 2030 compared to 2020. However, there is no evidence that it has set a target to reduce its upstream scope 3 emissions. The company has not set a target to fully phase out its ICE vehicle sales. However, it does have a target to electrify 30% of its global automobile sales in 2030. Honda Motor’s emissions intensity from its own operations decreased between 2021 and 2022. However, no further trend analysis could be carried out due to missing data. Although Honda Motor has some low-carbon activities, these are in the very early stages and the company reports no growth plans or financial details for these. Low-carbon CapEx represented only 18% of the company’s total CapEx for 2023. Due to lack of data on emissions intensity, it was not possible to compare the company’s locked-in emissions from the use of sold products with its 1.5°C pathway. No public data is available regarding Honda Motor’s low-carbon vehicle sales or its share of low-carbon revenue.
Social Assessment
Core Social Assessment
More about the company
- Headquarters
- Tokyo, Japan
- Ownership
- Publicly-listed
- Group revenue
- USD 145.4 billion (FY2023)
- Group employees
- 194,993 (FY2023)
- Vehicles sold
- 4,109,000 (FY2023)
- Website
- https://global.honda
