2024.04.15
As the seriousness of climate change issues increases and the movement towards a decarbonized society accelerates, the energy sector is expected to play a significant role, and responses to climate change are increasingly demanded.
Taiyo Oil upholds the corporate philosophy of “Like the beaming sun,” and as an integrated energy company, we aim to harmonize with the global environment, providing safety and security, and contribute to the creation of an enriched society.
Based on this philosophy, we believe that the promotion of management that incorporates the perspective of climate change will be necessary for our group's sustainable development going forward, and to this end, we have set targets for reducing our GHG emissions and disclosed information about our strategies to achieve these targets on our website on April 1, 2024.’
Website link: Information regarding the TCFD
Going forward, we will continue to recognize the business environment surrounding our group, deepen our analysis of risks and opportunities, leverage this analysis in our business strategies, and further promote initiatives toward the realization of a Carbon Neutral (CN) society.
Outline
GHG Emission Reduction Targets
❑ Our vision for 2050
Aim for net-zero CO2 emissions associated with our business activities (Carbon Neutral).
❑ CO2 reduction target for 2030
Aim for reduction of CO2 emissions associated with our business activities by 30% compared to
FY2013.
Content of Disclosure
The TCFD issued recommendations suggest explaining a company's strategy based on a review of various climate change scenarios.
Our company, considering the acceleration of initiatives toward a decarbonized society, has analyzed two scenarios: one where the increase in global temperatures is limited to 1.5°C/2°C above pre-industrial levels, and another where no further measures are taken beyond the current state, leading to a global temperature rise of 4°C.
Main Content
1) Climate Change Scenarios(Scenarios up to 2050 with two scenarios: Temperature rise of 1.5°C/2°C,
and temperature rise of 4°C)
2) Risks and Opportunities
3) Metrics and Targets(GHG emission reduction targets)
4) Strategic Directions (Specific strategies for the reduction of GHG emissions)
5) Governance & Risk Management