Teijin Raises CO2 Reduction Targets for Fiscal 2030[Teijin] (PDF: 145.3 KB)

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Teijin Raises CO2 Reduction Targets for Fiscal 2030

Tokyo, Japan, August 6, 2021 ---Teijin Limitedannounced today that it has adopted stricter 2030 targets for its reduction of CO2 emissions from in-house operations and the company's entire supply chain, effective from July 2021. The in-house CO2 emissions- reduction target for fiscal 2030 has been raised to 30%, up from the previous target of 20% compared to the fiscal 2018 emissions level. The supply chain target, which covers two-thirds of total supply-chain emissions, newly incorporates a numerical target of 15% fewer emissions compared to the fiscal 2018 level.

In addition, these revised and new targets are positioned as Teijin's long-term targets for reducing environmental impact in its Medium-Term Management Plan.

The in-house target is in line with the Science Based Target initiative(SBTi) standards aimed at limiting global warming to well below two degrees Celsius. The supply chain target is also based on the SBTi standards.

The in-house target includes both direct greenhouse gas (GHG) emissions (GHG Protocol Scope 1) and indirect GHG emissions associated with the use of energy supplied by other companies (Scope 2). Teijin uses the GHG Protocolas its standard for calculating and reporting GHG emissions. The new in-house CO2 emissions-reduction target is higher than the Japanese government's official reduction target of 46% when it is compared to Teijin's actual emission results in fiscal 2013.

The 15% reduction in supply chain emissions covers purchased goods and services (GHG Protocol Category 1 of Scope 3) except trading businesses.

Range of new reduction targets

Changes in Teijin's CO2 emissions-reduction targets (fiscal 2018 base year)

Category		Previous Targets		New Targets
In-house		- 20% reduction by fiscal 2030	- 30% reduction in Scope1 and 2
		emissions by fiscal 2030
emissions		- Net zero by fiscal 2050
		- Net zero by fiscal 2050
		- More avoided emissions than		- More avoided emissions than
Supply chain			total emissions by fiscal 2030
	total emissions by fiscal 2030
emissions			- 15% reduction in two-thirds of
	- No numerical targets
			Scope 3 emissions by fiscal 2030

In December 2019, the Teijin Group established its long-term environmental targets including reducing fiscal 2030 CO2 emissions by 20% compared to fiscal 2018 that was in line with the Paris Agreement's goal of limiting the average global temperature rise to less than two degrees Celsius from pre-Industrial Revolution levels. The targets reflected Teijin's commitments both to the external environment and company growth. More recently, with the global community steadily moving closer to carbon neutrality, including Japan and other countries adopting more aggressive targets, Teijin announced in April 2021 its support for Japan Climate Initiative's message, which calls for an increase in the country's contribution to the global movement. Furthermore, in January 2021, Teijin committed to being validated under Science Based Targets(SBT), as expressed in a commitment letter that the company submitted to the SBTi. With today's announcement, Teijin has now set more ambitious targets for reducing CO2 emissions to accelerate its net-zero initiative.

Aiming to contribute to a sustainable society, Teijin offers advanced solutions in the fields of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. As a people-focused company, Teijin provides innovative solutions for enhanced quality of life and works to minimize any negative impact on the environment or society through its business activities.

About the Teijin Group

Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the fields of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Originally established as Japan's first rayon manufacturer in 1918, Teijin has evolved into a unique enterprise encompassing three core business domains: high-performance materials including aramid, carbon fibers and composites, and also resin and plastic processing, films, polyester fibers and products converting; healthcare including pharmaceuticals and home healthcare equipment for bone/joint, respiratory and cardiovascular/metabolic diseases, nursing care and pre-symptomatic healthcare; and IT including B2B solutions for medical, corporate and public systems as well as packaged software and B2C online services for digital entertainment. Deeply committed to its stakeholders, as expressed in the brand statement "Human Chemistry, Human Solutions," Teijin aims to be a company that supports the society of the future. The group comprises more than 170 companies and employs some 20,000 people across 20 countries worldwide. Teijin posted consolidated sales of JPY 836.5 billion (USD 7.7 billion) and total assets of JPY 1,036.4 billion (USD 9.5 billion) in the fiscal year that ended on March 31, 2021.

Press Contact

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