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Press Release 2022

2022/May/19

Setting a New Goal to Achieve Carbon Neutrality “Nitto Group Carbon Neutral 2050”   Nitto Announces Support to Task Force on Climate-Related Financial Disclosures (TCFD) Recommendations

Nitto Denko Corporation(headquarter: Osaka, Japan, President: Hideo Takasaki, hereafter Nitto) has newly established a carbon dioxide (CO2) emission reduction target for the realization of a carbon-neutral society. The company aims to be carbon-neutral (*1) by 2050, and to decrease CO2 emissions to 470,000 tons by 2030 (a reduction of approximately 40% compared to 2013). In addition, Nitto supports the Task Force on Climate-Related Financial Disclosures (*2) (hereafter "TCFD") and will disclose information in line with their recommendations.

Climate change caused by global warming is a major issue for all humankind, which needs to be resolved in order to pass on a better global environment to future generations. Reducing CO2 emissions is essential for the Nitto Group to achieve sustainable growth and for the realization of a sustainable environment and society, which the Nitto Group considers to be an important social responsibility.

The Nitto Group has announced its targets for realizing carbon neutrality under the title "Nitto Group Carbon Neutral 2050” and will accelerate efforts toward the realization of a carbon-neutral society.

The "Nitto Group Carbon Neutral 2050" targets are as follows. 

  1. Carbon neutrality by 2050. 
  2. Decrease CO2 emissions to 470,000 tons by 2030. 
  3. Contribute to customer CO2 emission reduction through products and solutions.

Additionally, the Nitto Group supports the Task Force on Climate Related Financial Disclosures (TCFD) recommendations, established by the Financial Stability Board (FSB).
The Nitto Group builds a resilient corporate structure immune to the external environments, by not only recognizing climate change as an issue, but also by considering it a corporate issue and taking appropriate measures against risks.
The Nitto Group continues to constructively communicate with stakeholders, including shareholders and investors about the response to climate change.

* 1 Carbon neutral refers to CO2 emissions from business activities (scopes 1 and 2).
* 2 The TCFD was established by the Financial Stability Board (FSB) in 2015 in response to a request from the G20. It recommends disclosing "governance," "strategy," "risk management," and "metrics and targets”, by assessing the financial impact of corporate risks and opportunities (TCFD Website: https://www.fsb-tcfd.org/).

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