“Committed to People, Committed to the Future.” is the long standing Basic Commitment of the Toshiba Group, a statement that expresses our enduring credo to contribute to the development of society through our business. Since our founding, Our Purpose has been to combine the power of invention with our expertise and desire for a better world, to tackle increasingly complex and serious social issues, and to turn on the promise of a new day. Under the Mid-term business plan formulated based on this philosophy, while providing unique services that are highly reliable and state-of-the-art technologies to help solve social issues, we will contribute to the achievement of the Sustainable Development Goals (SDGs) and further enhance our corporate value. Toshiba Group holds environmental initiatives to be one of our top priority tasks in corporate management, and will promote such initiatives closely linked to the company-wide business plan.
Formulation of Long-term Vision Environmental Future Vision 2050
In recent years, climate change, the depletion of energy and resources, and various other environmental issues have intensified, to the point where they threaten the safe, secure lives of future generations. With regard to climate change in particular, given the impacts of floods, droughts, and enormous typhoons in many parts of the world, the 2015 adoption of the Paris Agreement*1 has accelerated the movement toward carbon neutrality in each country. In the face of these circumstances, companies must recognize the importance of climate change from a long-term perspective and proactively respond in order to achieve carbon neutrality.
In addition, over the last several years, countries worldwide have been trying to address issues such as the transition to a circular economy, marine plastics, water resources, and biodiversity conservation; and society's interest in such issues are on the rise. Meanwhile, the dissemination of the SDGs, the expansion of ESG investment, and other movements involving corporate management aimed at sustainability overall are gaining momentum.
Amid these changing circumstances, we consider it important to continue providing enriched value to customers while responding to global trends from a long-term perspective in order to contribute to the realization of a sustainable society and to aim to grow sustainably as a company. As such, Toshiba Group formulated the Environmental Future Vision 2050 as a new long-term vision in November 2020 to address carbon neutrality, the circular economy, and other issues from a global perspective. With the goal of “contributing to the realization of a sustainable society through environmental management which aims to create enriched value and to ensure harmony with the earth,” the Environmental Future Vision 2050 aims to realize a sustainable society—in other words, a decarbonized society, a resource circulating society, and a society in harmony with nature. Under the same concept of backcasting,*2 which has been incorporated at the formulation of the previous Vision from 2007, we will promote the implementation of initiatives in three areas: “response to climate change”, “response to the circular economy” and “consideration of ecosystems” so as to realize the ideal situation in 2050. In November 2021, we revised the vision “response to climate change” to further accelerate initiatives toward achieving carbon neutrality throughout the entire value chain*3.
- The Paris Agreement is an international framework adopted at the 21st session of the Conference of the Parties (COP21) that seeks to reduce the volume of greenhouse gas (GHG) emissions. It aims to restrain the increase in the global average temperatures to less than 2°C from the pre-industrial level and to pursue efforts to limit the temperature increase even further to 1.5°C. To this end, the Agreement's target is to lower the volume of GHG emissions to substantially zero by the latter half of this century.
- Backcasting is a method that defines a desired goal and works back through the series of actions necessary for its achievement.
- Vision “Response to climate change” formulated in November 2020: “Contribution through the entire value chain to achieve net zero GHG emissions in society (50% reduction across the Group's value chain by FY2030)”
Vision “Response to climate change” revised in November 2021: “Achievement of carbon neutrality throughout the entire value chain (70% reduction of GHG emissions by FY2030)”
Under “response to climate change”, we aim to achieve carbon neutrality throughout Toshiba Group's entire value chain by FY2050 to contribute to the goal of the Paris Agreement. As a milestone, we aim to reduce GHG emissions by 70% by FY2030 compared to the FY2019 level. Specific initiatives include investing in energy-saving equipment and introducing equipment for renewable energy and procuring power derived from renewable energy in carrying out Toshiba Group's business activities; suspending the receipt of new orders for coal-fired thermal power plant construction work; and leveraging our technological capabilities to create products and services that contribute to GHG reductions in society. Such products and services include energy technologies: renewable energy, energy aggregation* for power supply and demand adjustment, CO2 separation and capture technology, social infrastructure products and building-related products with high energy-saving properties. We will promote business that involves measures to adapt to climate change, which are aimed at ensuring stable energy supply and strengthening resilience, reducing GHG emissions derived from products and service purchased in cooperation with our suppliers, and conducting engagement activities with various stakeholders.
Under “response to the circular economy”, we will promote the efficient use of resources in both business activities and products and services. At the same time, we will actively collaborate with relevant parties, such as industry organizations, government agencies, and other companies, in order to adapt our business models to the circular economy. Specifically, we will work to reduce the volume of waste from business activities and to recycle used products and parts, as well as aim to build circular economy business models based on solutions that employ digital technologies, which is our focus business.
Under “consideration of ecosystems”, we will contribute to the creation of a society where humans live in harmony with nature and continue to enjoy the blessings of ecosystems by promoting compliance with policies and regulations on chemical substance management in countries around the world, proper management of water resources, and activities to conserve biodiversity on and off the premises of Toshiba sites.
- A mechanism for consolidating various energy resources, such as renewable energy and Electric Vehicle (EV), and controlling output according to power supply and demand conditions.
Response to Climate Change: Breakdown of Greenhouse Gas Reduction Target
In order to achieve the Environmental Future Vision 2050, we set out the following breakdown of GHG emissions reduction target and are promoting related initiatives.
Acquisition of Approval of the SBT Initiative
Our FY2030 target*1 was approved by the Science Based Targets (SBT)*2 initiative. Going forward, we aim to have our approval renewed under the SBT initiative's new standard.
(For all items below, the base year is FY2019.)
- Reduce the total of Scope 1*3 and Scope 2*4 (GHG emissions generated from Toshiba Group's own business activities) by 28% by FY2030.
- Reduce use-phase GHG emissions of “products and services associated with power supply”*5 sold in Scope 3*6 by 50% by FY2030.
- Reduce use-phase GHG emissions of “products and services associated with power consumption”*7 sold in Scope 3 by 14% by FY2030.
- Our FY2030 target set before the revision of the Environmental Future Vision 2050 (before November 2021)
- 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).
- Volume of direct emissions through fuel use at Toshiba Group
- Volume of indirect emissions through use of electricity and heat purchased by Toshiba Group
- Power generation plants, etc.
- Volume of indirect emissions generated by Toshiba's value chain (raw materials procurement, distribution, sales, disposal, etc.) outside Scopes 1 and 2
- Social infrastructure products, building-related products (lighting equipment, elevators and escalators), retail and printing equipment, power devices, etc.
For Scopes 1 and 2, we will reduce the volume of emissions by measures such as investing in energy-saving equipment and increasing the use of renewable energy in Toshiba Group's own business activities.
For Scope 3, we will target Category 11, “Use-phase GHG emissions of sold products” and aim to reduce emissions.