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November 30, 2023

In recognition of CO2 reduction targets for 2030

Toyoda Gosei Acquires SBT Certification for Decarbonization

JP Ver.

Kiyosu, Japan, November 30, 2023: Toyoda Gosei Co., Ltd. has acquired Science Based Target (SBT)1 certification from the Science Based Target initiative (SBTi), a global partnership of environmental organizations. The content of Toyoda Gosei’s CO2 reduction targets was recognized by the SBTi as being in accord with the Paris Agreement,2 an internationally shared framework for combatting global warming.

The CO2 reduction targets Toyoda Gosei has set for 2030 are a decrease of 46.5% (compared with FY2019 levels) in CO2 emissions associated with the company’s production activities for Scope 1 and 2, and a 27.5% decrease (compared with FY2019 levels) over its entire supply chain for Scope 3. These values were recognized as at or above the levels set in the SBTi, and certification was received.

Toyoda Gosei’s 2030 CO2 reduction targets
(Both compared to FY2019)
SBT criteria
Scope 1 + 2 −46.5%* −46.2% or more (1.5°C level3)
Scope 3 (newly formulated) −27.5% −27.5% or more (WB 2°C level3)

*2030 target: Achieve carbon neutrality with combination of renewable energy and other measures

Toyoda Gosei has pursued efforts for short- and medium-term targets since 1993, and in 2016, the year following the adoption of the Paris Agreement, declared its commitment to achieving carbon neutrality by 2050 as a long-term target. It seeks to achieve these targets mainly by innovating production technology and saving energy through continuous daily improvements, and by switching to renewable energy for electricity. Since August 2023 the company has accelerated its efforts for decarbonization while providing both social and economic value under the banner of “Contributing to decarbonization,” one of the priority items in its medium- to long-term business plan (2030 Business Plan). Toyoda Gosei has also adopted the challenging target of bringing forward the year in which it achieves carbon neutrality (Scope 1 and 2) significantly, to 2030. It is leveraging its strengths in polymer technology to reduce the environmental impacts of the company’s products and manufacturing lines, such as lowering environmental impact in painting and plating processes, and to promote the recycling through rubber desulfurization and regeneration.

1 Greenhouse gas emissions reduction targets based on scientific evidence. SBTi was established by four international environmental NGO’s, including the CDP, with the goal of working toward the achievement of these targets.

2 International agreement that was adopted in Paris in 2015 and took effect the following year. It has an essential target of limiting the rise in the global average temperature to less than 2°C while pursuing efforts to keep the rise to less than 1.5°C above pre-industrial levels

3 Indicates the level of reduction in CO2 emissions, with the meanings of limiting the rise in temperature from global warming to “less than 1.5°C” and “well below 2°C,” respectively.


Activities for the achievement of 2030 targets

Activities for the achievement of 2030 targets