Toyobo Group revises upward reduction target of greenhouse gas emissions
May 25, 2022
The Toyobo Group has revised upward of its target for reducing greenhouse gas (GHG) emissions associated with its business activities (Scope 1 and Scope 2*1) by March 2031 from “more than 30 percent” to “more than 46 percent” over the fiscal year ending March 2014.
|*1||Scope1: The amount of direct GHG emissions from sources that are controlled or owned by an organization (e.g., emissions associated with fuel combustion).|
|Scope2: The amount of indirect GHG emissions from the production of energy, such as electricity an organization buys (e.g., emissions by electrical power companies).|
The Toyobo Group regards global warming and climate change as a major risk threatening its sustainable business operations. With a target of realizing carbon neutrality, or a net zero in greenhouse gas emissions from its activities, by March 2051, the Group has been making efforts to save energy and improve productivity.
It plans to eliminate the use of coal by changing its fuel sources; introduce or procure renewable energy; consider carbon-free fuels such as hydrogen and ammonia; and buy low-carbon electricity. Furthermore, it will strengthen and accelerate the implementation of measures against climate change to realize carbon neutrality by the target year. The measures include shifting to carbon-free fuels; electrification of the manufacturing process; procurement of carbon-free electricity; and introduction a carbon offset*2 with CCUS*3 technology and forest sinks.
|*2||Concept referring to using a reduction in GHG emissions to compensate for emissions that occur elsewhere.|
|*3||Abbreviation of Carbon dioxide Capture, Utilization and Storage. It refers to technology to collect, effectively use and store carbon dioxide.|
Under its corporate philosophy, “Jun-Ri-Soku-Yu” (adhering to reason leads to prosperity), the Toyobo Group will diligently continue to make company-wide efforts to achieve carbon neutrality.
Toyobo Group’s target to reduce GHG emissions
For more information, contact
Public Relations Group, Corporate Communication Department, Toyobo Co., Ltd.
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