As global warming continues and temperatures rise, we are likely to experience more natural disasters including typhoons, floods, and tornadoes, which seriously affect people's daily lives and society. Other concerns include droughts due to low precipitation and sea level rise due to melting glaciers on land. To respond to these impacts of global warming, the world is accelerating the movement toward achieving carbon neutrality by lowering GHG emissions to net zero by 2050. We are required to respond to climate change caused by global warming by striving to reduce GHG emissions in both business activities and products and services, thereby to help achieve carbon neutrality.
With the aim of achieving carbon neutrality throughout its entire value chain by FY2050, Toshiba Group has been driving responses to climate change through various measures. They include reducing energy consumption and the volume of GHG used in production processes in Japan and abroad, introducing energy-saving processes and equipment, using renewable energy, providing energy technologies to realize decarbonization, and reducing electricity consumption in the use of products and services we develop. We will also focus on the reduction of GHG emissions from products and services purchased in cooperation with suppliers and climate change adaptation solutions. As a new initiative under the Seventh Environmental Action Plan, Toshiba Group will also focus on the reduction of GHG emissions through the use of its digital technologies that enable remote operation, automation, and intelligence. In FY2020, we acquired approval of the Science Based Targets (SBT)*1 initiative regarding our GHG reduction target for FY2030.
We were selected for the prestigious A List in the CDP*2 Climate Change Report 2020 for our climate change information disclosure. We have also endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)*3 and will continue to focus our efforts on information disclosure regarding the risks and opportunities related to climate change in our Group's businesses.
- Science Based Targets are scientifically grounded GHG reduction targets set by companies on a medium- to long-term basis in order to restrain the global average temperature increase this century well below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5°C. Science-based targets are validated by the SBT initiative. Toshiba Group's target approved is our FY2030 target set before the revision of the Environmental Future Vision 2050 (before November 2021). For details, please see https://www.global.toshiba/ww/environment/corporate/vision/vision2050.html
- CDP is an international non-profit organization founded in the United Kingdom in 2000. Working with institutional investors, CDP conducts surveys on companies' environment-related initiatives (climate, water and forests).
- The TCFD is an organization established by the Financial Stability Board (FSB) in 2015 for financial institutions and companies to discuss the climate change issue from the perspective of financial stability.