Our officer's commitment
We accomplish sustainable growth by solving social issues through our business and with steady advancement of our initiatives
Managing Excutive Officer
Head of Corporate
Toyobo group has strengthened its sustainability initiatives since fiscal 2021, and has achieved definite results over these past three years. In Sustainable Vision 2030, the long-term vision we announced in May 2022, we identified five social issues that we can solve through our contributions, given the society we envision for 2030, including climate change, biodiversity, and human rights.
Regarding measures against climate change, we revised our GHG Emissions Reduction Plan, raising the fiscal 2031 reduction target for Scope 1 and 2 from 30% of the fiscal 2014 level to 46% or higher, and also setting a new reduction target for Scope 3. Our reduction target has been recognized as adhering to the levels stipulated by the Paris Agreement, and was also certified by the global Science Based Targets initiative in December 2022. As we work to reduce GHG emissions throughout our supply chain, we will strengthen our collaboration with our diverse stakeholders.
Our biodiversity conservation efforts include joining the 30 by 30 Alliance for Biodiversity in November 2022, an initiative to conserve 30% or more of land and sea as healthy ecosystems by the year 2030. We also applied for OECM international certification for forests owned by our group. We are implementing activities toward the (nature-positive) goal of stopping biodiversity loss and effecting restoration.
Regarding business and human rights, in October 2020 we laid out Toyobo Group Human Rights Policy, and have stated our “respect for human rights throughout our supply chain” at the top of Sustainable Vision 2030. Having begun practicing due diligence in human rights from fiscal 2023, we place priority for our group on gaining a thorough understanding of the operational status of non-Japanese technical trainees. After starting the effort in Japan, we will implement a phased expansion to other countries in the future. Regarding our supply chain, we have established CSR Procurement Guidelines for all suppliers, and are advancing efforts to ensure our policies are understood, including through dialogue with suppliers that have issues.
Corporate sustainability consists of solving social issues through our business.
We have numerous products and solutions that contribute directly to solving social issues, and while expanding those products, we will generate new businesses by evolving and integrating our stock of technologies accumulated in the past. We could, for example, expand our products that bring about a reduction in carbon footprint through a combination of Scope 1 and 2 reductions and the use of recycled and biomass raw materials, thinning of components, etc. We will expand products and solutions that contribute to measures against climate change and to preservation of biodiversity, such as seawater desalination using less energy and renewable sources of energy, reuse of water, power generation using membranes, and devices that collect and reuse the volatile organic compounds used in the manufacture of electric vehicle batteries.
Genetic test reagents for PCR tests are helping with measures against the spread of COVID-19 and other infectious diseases. Biomanufacturing, which combines polymer technology and biomedical technology, the core technologies involved in genetic test reagents, can create businesses that solve issues in both climate change countermeasures and biodiversity conservation. We have, for example, started conducting basic research on uses for unutilized biomass. Future potential is thus hidden in such raw materials as those produced by thinning our group-owned forests.
We have been operating businesses that contribute to solving the social issues of the times ever since our founding in 1882, and our business portfolio has therefore been changing. One of the mottoes of our company’s founder, Eiichi Shibusawa, was “Jun-Ri-Soku-Yu (Adhering to reason leads to prosperity).” With this as our corporate philosophy, we aim to be a group that continues to create solutions needed by people and the earth.
Being oriented toward sustainable growth means becoming a company that achieves sustainable growth through its contributions to the sustainability of society. Spreading and promoting this awareness is my duty.
Policy and approach
- Management that takes the sustainability of society into consideration, and thus management that increases the sustainability of our company
- Sustainability that builds a solid management foundation: the axis of our management foundation (ESG)
- Sustainability that strengthens our competitiveness and drives growth: the axis of our business (CSV)
Conceptual Framework-Sustainability, CSV and ESG
Since being founded in 1882 as Japan's first large-scale spinning mill company in the private sector, Toyobo group has addressed a range of issues as a good member of society through the supply of clothing fibers. We have also expanded and grown with the times and contributed to solving social issues with a focus on the environment in our aim to realize better lives for people around the world.
In 2019, we redefined our corporate philosophy “Jun-Ri-Soku-Yu (adhering to reason leads to prosperity).” After many discussions based on it, we enhanced our corporate philosophy framework TOYOBO PVVs. Through this discussion process, we were convinced that the essence of Toyobo group's activities to date lies in making a contribution to ensuring the sustainability of people and the earth.
We announced our Sustainable Vision 2030 (long-term vision) in May 2022.
Contributing to the realization of a sustainable society is the embodiment of Toyobo group's vision “We will continue to create the solutions needed by people and the earth with materials and science.” This expresses Toyobo group's approach to sustainability.
At the same time, it is important to continually enhancing corporate value. Toyobo group's contribution to realizing a sustainable society generates profits leading to enhancement of the group's corporate value. This enhancement of corporate value leads in turn to the next level of realization of a sustainable society through growth in the group's business. Maintaining this positive spiral is what Toyobo group regards as sustainability.
To meet the expectations of stakeholders, Toyobo group will further enhance its dissemination of information as well as taking active initiatives so that all employees feel personally involved in sustainability in order to promote companywide activities as a united force.
Sustainability management structure
Toyobo group has established a Sustainability Committee, with our President serving as chairperson. Committee meetings were held four times in fiscal 2023, with deliberations covering themes including checking on company-wide sustainability action, GHG emission reduction targets, nature-positive matters, geopolitical risk, and committee structure in consideration of the requirements of ISSB, etc.
In April 2023, we reviewed our vision for our Sustainability Committee as a component of the sustainability management required by the Corporate Governance Code and by international sustainability standards. We reformed the committee into a system for integrated deliberations with a focus on mediumto long-term sustainability themes related to our company-wide long-term strategy. This new structure transfers the roles of eight committees previously under the Sustainability Committee umbrella to the respective divisions in charge, which will be responsible for advancing their activities. We are continuing with the Risk Management Committee and Compliance Committee, which require company-wide cross-organizational discussions and tasks,and have established a new Climate Change and Biodiversity Committee. Meeting six times a year beginning in fiscal 2024, the committee will advance sustainability initiatives that lead us toward our envisioned ideal. It will engage in integrated discussions of priority issues (materialities), deliberate on strategies, measures, and indicators from the perspective of risk and opportunity, and manage the progress.
We have also established a Corporate Sustainability Division, which is responsible for drafting and promoting various specific measures, communicating them externally, and encouraging dialogue.
Sustainability Promotion Structure
Our sustainability activities
Since our group’s founding by Eiichi Shibusawa, we have taken the philosophy of one of his mottoes, “Jun-Ri-Soku-Yu (Adhering to reason leads to prosperity),” as the basis for our concept that we grow our own business by enriching society. By putting this into practice, we have anticipated modern CSV.
Since fiscal 2021, we have been moving ahead with activities under a full-fledged sustainability management orientation. Our efforts have been particularly directed toward carbon neutrality, the circular economy, human rights, human capital, and biodiversity, and upon formulating these strategies, we have specified milestones.
|Period||Initiatives and their purpose|
|Jan. 2020||Became a signatory to the United Nations Global Compact and joined the Global Compact Network Japan.
Endorsed the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).
Established the Corporate Sustainability Department. Incorporated ESG elements into management and strategy, and strengthened communication of information to stakeholders.
Established the Sustainability Committee (renamed the CSR Committee), chaired by the President.
Placed Corporate Sustainability Department under direct control of the President.
Established the Risk Management Committee, chaired by the President.
Established a system to promote efforts toward carbon neutrality. Established the Carbon Neutral Strategies Council and the Carbon Neutral Strategies Cross-Functional Team.
|Apr. 2022||Established the Corporate Sustainability Division.|
Announced Sustainable Vision 2030
Formulated the GHG Emission Reduction Plan by 2050
|Nov. 2022||Joined the 30 by 30 Alliance for Biodiversity|
|Dec.2022||Obtained Science based target(SBT) certification|
|Apr. 2023||Restructured the Sustainability Committee|
Participation in initiatives
UN Global Compact (UNGC)
In January 2020, we became a signatory to the United Nations Global Compact (UNGC) and joined the Global Compact Network Japan, which comprises Japanese companies and organizations that are UNGC signatories. We have done so because we agree with the principle of solving global issues and achieving sustainable growth as a responsible corporate citizen. Moreover, through participating in subcommittees of the Global Compact Network Japan (on ESG, supply chains, environmental management, Kansai, reporting research, etc.), we gather information that we apply in our day-to-day activities.
Moving forward, we will strengthen our efforts in keeping with the Ten Principles of the UNGC as we contribute to the realization of a sustainable society.
The Ten Principles of UNGC
|Human Rights||Principle 1:
Businesses should support and respect the protection of internationally proclaimed human rights; and
make sure that they are not complicit in human rights abuses.
Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
the elimination of all forms of forced and compulsory labour;
the effective abolition of child labour; and
the elimination of discrimination in respect of employment and occupation.
Businesses should support a precautionary approach to environmental challenges;
undertake initiatives to promote greater environmental responsibility; and
encourage the development and diffusion of environmentally friendly technologies.
Businesses should work against corruption in all its forms, including extortion and bribery.
Task Force on Climate-related Financial Disclosures (TCFD)
Recognizing the scale of the impact of climate change on our group and stakeholders, we have identified a “decarbonized society and circular society“ as one of our materialities. In January 2020, we announced our support for the recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD), and have been working on initiatives and disclosures that follow them.
Based on the below 2℃ scenario and the 4℃ scenario, we identified climate change-specific risks and opportunities for the group. While we focused on the films business in the previous fiscal year, we expanded the scope to include all of the group’s businesses in the current fiscal year. We compiled the identified risks and opportunities and rearranged themin view of changes in society and then explored measures to address each of them.