Our Efforts to Tackle Climate Change

Our Basic Approach

The TOA Group aims to contribute to the protection of the earth’s environment, regarding this as a component of corporate responsibility and critical for our business activities. As part of that, we view action on global warming and other aspects of climate change as a key task, and believe that balancing economic value and social value from a long-term perspective is vital for corporate operations. We have therefore endorsed the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), and have been exploring ways for the TOA Group to ensure the sustainability of both itself and society.

Going forward, we will continue to appropriately manage risks associated with climate change, viewing the myriad of changes resulting from climate change as opportunities for achieving sustainable growth. As such, we will be leveraging the TOA Group’s technology and know-how as we endeavor to create business opportunities and resolve issues facing society.

Governance

We are executing a project to consider strategies, policies, and measures for responding to climate change, and assessing the importance of climate risks and opportunities in terms of their impact on the sustainability of the TOA Group. We are also taking steps to visualize greenhouse gas emissions, which are the cause of global warming, and implement measures to reduce them. Details of these initiatives are regularly reported to and discussed by the Management Committee, and important matters are referred to the Board of Directors.
In the near future we will be establishing a subcommittee under the purview of the Sustainability Promotion Committee. This subcommittee will be responsible for taking practical action on climate change and propagating sustainability throughout the Group. We will also confirm progress with specific activities as well as targets. For example, we will be following a PDCA cycle for measures to reduce greenhouse gas emissions and also monitoring risks/opportunities.

Metrics and Targets

In FY2022, the TOA Group began compiling data on our greenhouse gas emissions based on the GHG Protocol, with a view to achieving carbon neutrality by 2050. We have also made a start on monitoring and reducing emissions along our entire value chain by setting medium- to long-term emission reduction targets for Scope 1 and Scope 2.
By promoting energy conservation and eco-friendly activities and pivoting to renewable energy on a Group-wide basis, we will cut our Scope 1 and Scope 2 emissions while at the same time scrutinizing Scope 3 emissions calculations, developing specific initiatives, and setting reduction targets.