Toshiba's Net Zero Targets Approved by SBTi

-Achieving net zero greenhouse gas emissions throughout the entire value chain by FY2050-

March 28, 2024

TOKYO—Toshiba Corporation's net zero targets*1 have been certified by the Science Based Targets initiative (SBTi), an international certification organization on climate change. Certification indicates Toshiba Group's goals and initiatives for achieving carbon neutrality throughout its value chain, as set forth in Toshiba Group Environmental Future Vision 2050, are recognized as SBT in line with the goals of the Paris Agreement*2.

In addition, the company's FY2030 reduction targets, interim milestones toward achieving net zero, have been raised to meet the new "1.5℃ pathways," up from the "well-below 2℃ pathways" of the SBTi Certification that Toshiba Group obtained in FY2020.

"FY2023 reduction targets" in paragraph 2 of the March 28, 2024 press release on net zero targets was corrected to read "FY2030 reduction targets" on April 10, 2024.

SBTi was established in 2015 by WWF, CDP, the World Resources Institute (WRI), and the UN Global Compact. Based on the Paris Agreement's goal of limiting the increase in global average temperature to 1.5℃ or lower, the program supports and certifies companies in setting SBT for greenhouse gas (GHG) reductions. Timelines for achieving SBT are now the global standard for defining targets in line with the Paris Agreement.

Guided by the basic commitment of Toshiba Group, "Committed to People, Committed to the Future," Toshiba will accelerate environmental management that seeks to create value in harmony with the earth.

Long-term targets (compared to FY2019)
Reduce GHG emissions throughout the value chain (Scope 1, Scope 2, and Scope 3) to net zero*3 by FY2050.

Near-term targets (compared to FY2019)
Reduce Scope 1 and Scope 2 GHG emissions generated in Toshiba Group's business activities by 70% by FY2030.
In addition to the Scope 1 and 2 targets, reduce Scope 3, indirect emissions outside the scope of the company's business activities, in areas such as procurement of raw materials, logistics, sales, disposal, etc., by 70% by FY2030.

Toshiba Group will reduce Scope 1 and Scope 2 emissions by reducing energy and fuel consumption in production processes in Japan and abroad, and by introducing energy-efficient processes and facilities and renewable energy through the application of Internal Carbon Pricing*4.

Toward reducing Scope 3 emissions, in addition to reductions achieved by structural transformation of the thermal power business, including withdrawing from the construction of new coal-fired power plants, Toshiba Group will focus on creating products and services that contribute to GHG reductions, including energy technologies for renewable energy, energy aggregation, energy decarbonization, and social infrastructure products, and for building-related products with high energy-saving properties. The Group will also cooperate with suppliers in promoting lower GHG emissions from procured products and services.

Related Pages:
■Science Based Targets initiative official website
■Toshiba Group’s Environmental Future Vision 2050

*1 SBT are scientifically grounded GHG reduction targets set by companies on a medium- to long-term basis, in order to keep the global average temperature rise this century well below 2℃ above pre-industrial levels, and to pursue efforts to limit the temperature increase even further to 1.5℃. Science-based targets are validated by SBTi.
*2 An international framework adopted at the twenty-first session of the Conference of the Parties (COP21) that seeks to reduce GHG emissions.
*3 90% reduction in gross emissions by 2050 at a rate consistent with a 1.5℃ level reduction pathway, with the remaining carbon emissions removed from the atmosphere and permanently stored.
*4 A monetary value for carbon estimated by the company as a mechanism to promote corporate decarbonization investments.