Revision of 2030 Environmental Targets Toward '1.5°C-Aligned' Approval by Science Based Targets Initiative (SBTi)
--The entire Group to further promote renewable energy use--

Toyo Seikan Group Holdings, Ltd. (represented by Ichio Otsuka, President) has revised its medium- to long-term environmental targets, the Eco Action Plan 2030, to advance its efforts to achieve carbon neutrality by 2050. By raising the CO₂ reduction targets for 2030 from 35% to 50% for emissions from our operations and from 20% to 30% for emissions from our supply chain compared to 2019, we aim to obtain approval from the Science Based Targets initiative (SBTi)* on the revised targets as aligned to the SBTi's new criteria reflecting its commitment to keeping global temperature increase to 1.5°C.

Since the Intergovernmental Panel on Climate Change (IPCC) reported new scientific findings in the Special Report on Global Warming of 1.5°C in 2018, limiting the temperature rise due to global warming to 1.5°C has been widely discussed at international conferences such as the UN Climate Action Summit 2019 and the 26th UN Climate Change Conference (COP26) held in Glasgow in November 2021.

The revision of our environmental targets is based on these changes in global trends. The revised targets are truly ambitious, intending to achieve the previous 2030 target of a 35% reduction by 2027, three years ahead of schedule. By accelerating energy efficiency and renewable energy use, we aim to reduce CO₂ emissions continuously to meet¬ the 1.5°C-aligned targets and thereby achieve carbon neutrality, our 2050 target toward a zero-carbon society.

* The SBTi is an international initiative that examines the greenhouse gas reduction targets set by individual companies and approves them as consistent with scientific evidence through its target validation process.