Approach to Sustainability
We recognize that addressing climate change and other environmental issues are the major management challenges for the Group to achieve sustainable growth.
In November 2021, the Group announced its support for the recommendations issued by the TCFD (Task Force on Climate-related Financial Disclosure) and joined the TCFD Consortium. We plan to enhance our disclosures in line with the disclosure framework recommended by the TCFD by more quantitatively assessing potential impacts based on climate-related risks and opportunities using climate scenario analysis.
Regarding greenhouse gas emissions from manufacturing processes, we set a target to reduce greenhouse gas emissions (Scope 1 and Scope 2) by 21% in 2030 compared to 2018 was already certificated as the SBT* Initiative (SBTi) in October 2019 as being a "science-based target," the Group has been implementing measures in line with this target for some time now. In addition, we have been working toward the goal of reducing CO2 emissions per unit of glass production by 2% during RP24 period.
The Group now recognizes the achievement of carbon neutrality by 2050 as a goal that should be committed to inevitably and has decided to raise the carbon reduction target by 2030, which is more important for achieving carbon neutrality, from 21% to 30% for GHG emissions from the manufacturing processes (Scope 1 and Scope 2) so that it can set more concrete and feasible additional measures. In addition, GHG emission from Supply chain (Scope 3) is also newly targeted for reduction targets, the Group is certified of this new target as SBTi. In order to attain this target, the Group will work on disruptive innovations as well as development of existing technologies including optimization of glass manufacturing processes, development of energy saving technologies, introduction of alternative fuels and renewable energies, and development of supply chains.
* SBT (Science Based Targets) are a set of greenhouse gas reduction targets consistent with scientific knowledge