Toray Group’s Approach to Climate Change
Toray Group is committed to its current corporate philosophy of “contributing to society through the creation of new value.” This is in keeping with a principle since Toray’s foundation in 1926 that corporations are public institutions that should contribute to society through business. Based on this corporate philosophy, Toray Group has for many decades focused on creating innovative technologies and advanced materials that provide solutions to various social challenges, including global environmental issues, and has helped to build a more sustainable world.
In May 2019, Toray Group declared its support for the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. In December 2019, Toray Group disclosed Group information related to the initiatives, which have been made prior to the declaration, to address climate change based on these TCFD recommendations.
On this occasion, Toray Group analyzed scenarios in line with the TCFD recommendations to identify its future risks and business opportunities, and how the opportunities and risks could impact Toray Group associated with unpredictable climate change events. In addition, Toray Group established the Sustainability Committee, headed by the president, on April 1, 2021 to aim to achieve sustainable development for the Group and to accelerate the Group initiatives to climate change. Toray Group published the Toray Group TCFD Report 2021 which summarizes the Group’s business activity related to climate change as well as the aforementioned initiatives.
Toray Group will continue to strive to create innovative technologies and advanced materials that provide essential solutions to help resolve climate change and other environmental issues, and to disclose information related to climate change in accordance with the TCFD recommendations.