Press release from the issuing company
Accelerating efforts to achieve net zero greenhouse gas emissions by introducing mechanism to virtually convert CO? emission volume into costs and drive reduction in environmental impact
Tokyo – Toppan, a global leader in communication, security, packaging, décor materials, and electronics solutions, will introduce an internal carbon pricing1 system for its capital investment from fiscal 2023 onwards.
Internal carbon pricing is an important indicator that businesses themselves set and use to drive low-carbon investment and related measures. Its adoption as an investment indicator for decarbonization is recommended within ESG disclosure frameworks, such as the Task Force on Climate-related Financial Disclosures.
To address the growing problem of climate change and other global environmental issues, Toppan has set out its long-term approach in the Toppan Group Environmental Vision 2050 and is aiming to enable “fulfilling, sustainable living.” With increasing needs to reduce greenhouse gas emissions, Toppan will use an internal carbon pricing system to inform decisions on low-carbon investment and related measures from a long-term perspective and advance the further use of energy-saving and renewable energy equipment.
“Introducing internal carbon pricing at Toppan will enable us to make better informed decisions on how we invest and what we do to decarbonize our own operations and contribute to efforts in wider society,” said Fumie Ikeda, General Manager of Sustainability Promotion at Toppan. “We will also continue to enhance the transparency of our disclosure and accelerate ESG initiatives by working with stakeholders as we aim to be a leader in addressing global social issues with solutions enabled by Digital Transformation and Sustainable Transformation.”
Overview of Toppan’s planned internal carbon pricing system
--Internal carbon pricing
US$130/t-CO? (at time of introduction)
--Scope and method
Apply internal carbon pricing to changes in CO? emission volume associated with capital investment and prioritize investments in measures that are effective in reducing CO? emissions.
--Target of internal carbon pricing system
Capital investments that bring about changes in CO? emission volume.
Sustainability at Toppan
Toppan engages in a range of sustainability-related activities, incorporating into its targets the principles of the United Nations Global Compact, the guidelines of the ISO 26000 international standard on the social responsibilities of organizations, and the Sustainable Development Goals (SDGs). The TOPPAN SDGs STATEMENT, published in November 2019, sets out Toppan’s commitment to intensify its related initiatives and incorporate the SDGs into management. TOPPAN Business Action for SDGs, announced in November 2020, specifies the areas of focus in which Toppan aims to contribute to the achievement of the SDGs through its business.
In January 2021, Toppan devised the Toppan Group Environmental Vision 2050, which lays out long-term approaches to environmental issues to shape a sustainable society in which all forms of life can continue to exist into the future. At the same time, Toppan reviewed key performance indicators for “environmentally friendly & sustainable production” under the scope of Companywide Materiality and set new medium-and-long-term environmental targets for fiscal 2030.?
1. Internal carbon pricing is a mechanism by which businesses set and use carbon pricing internally to drive low-carbon investment and related measures. Companies quantify climate change risk by assigning a cost to each ton of CO? emissions based on their own criteria. Using internal carbon pricing as a benchmark for investment decisions makes it possible to accelerate investment in low-carbon equipment and energy saving to contribute to a decarbonized society.
For more information, visit https://www.toppan.com/en
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