Long-Term Global Warming Countermeasures up to 2050
In recent years, the impact of climate change associated with global warming has become apparent with an increase of natural disasters such as typhoons and localized torrential rainfall, as well as changes in the ecosystem due to "subtropicalization" of the climate. Against this backdrop, in December 2015 the Paris Agreement was adopted as the international framework of the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21). In addition, there has been a worldwide increase in ESG investing, in which investors focus on and select those companies that give consideration to Environment, Social and Governance factors.
TOYOBO Group also recognizes the serious risk posed by global warming and climate change to the continuation of business activities, and we are steadily cutting greenhouse gases in order to achieve our emissions reduction targets. In the coming years, we will extend our focus beyond production to our overall business activities, as we endeavor to contribute to environmental sustainability through our products and solutions. In this way, we will strive to cut greenhouse gases from an even longer term perspective.
We will seek to reduce emissions of greenhouse gases from our business activities through measures such as switching to natural gas in our factories and enhancing production efficiency, as well as introducing renewable energies such as solar power.
With regard to the initiatives we are engaged in through our products and solutions, we are developing and increasing sales of engineering plastics, which help to reduce CO2 emissions from automobiles due to their lighter weight and greater fuel economy. We are also developing products that contribute to carbon recycling, by viewing CO2 as a carbon resource and collecting it for re-use as various carbon compounds.
Through these measures, we aim to reduce our greenhouse gas emissions by 30% and 80% in fiscal 2031 and fiscal 2051, respectively, compared with fiscal 2014.
Greenhouse gas reduction targets