Toyobo introduces internal carbon pricing system
Feb 4, 2022
Toyobo Co., Ltd. will introduce on April 1, 2022, an internal carbon pricing (ICP) system*, in which the company will use its own standards to set a theoretical price on each ton of carbon dioxide (CO2) emissions for reference in making capital investment.
Recognizing global warming and climate change as a major risk to its business operations, Toyobo has set the goal of realizing carbon neutrality, or net-zero greenhouse gas emissions, by the end of fiscal 2050. By using the ICP system as a yardstick for evaluating investment decisions, Toyobo will accelerate making investments not only in low or net-zero emission facilities and energy-saving technologies, but also in relevant equipment and facilities for research and development.
|*ICP system:||Designed to help companies to promote low-carbon investment and measures. Under the system, companies include internal carbon fees (taxes) and CO2 emissions as costs. This enables the company to create incentives for energy-saving promotion, identify profit-making opportunities and risks, and formulate guiding principles for making investments.|
Outline of Toyobo’s ICP system
|Internal carbon pricing fee (tax)||10,000 yen for each ton of CO2|
|Targets of investment||Capital investment in facilities with fluctuating CO2 emissions|
|How to use it||Based on the internal carbon pricing fee, calculating CO2 fluctuation by the proposed facilities (including facilities for research and development) as costs. The calculations will be made in accordance with capital investment plans.|
For more information, contact
Public Relations Group, Corporate Communication Department, Toyobo Co., Ltd.
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