Air Water Inc. (the “Company”) is pleased to announce that it has revised up its CO\( \sf _2 \) emission reduction target for FY2030 from previously announced “15% reduction compared to FY2013” to “30% reduction compared to FY2020” and disclosed climate change-related information on its webpage in accordance with the recommendations of the Task Force of Climate-related Financial Disclosures (TCFD).
The Air Water Group has set, in its Sustainability Vision, a goal of achieving a recycling-oriented society through coexistence with society and the planet. In October 2021, the Group formulated Air Water Group Environmental Vision 2050. Under the Vision, the Group advocates for a society committed to recycling based on the themes of “Decarbonized society,” “Resource recycling society” and “A society in which humanity and nature coexist,” with the aim of not only reducing the negative consequences of its business activities to zero by 2050 but also of providing positive environmental value to society and its customers.
Specifically, with respect to the vision toward the emergence of a decarbonized society, the Group aims to achieve carbon neutrality in its business activities and decarbonization throughout its supply chain by 2050. Moreover, it is committed to contribute to achieving carbon neutrality in society mainly through a relentless focus on technological innovation and the use of hydrogen and renewable energy.
Propelled by the establishment of the environmental vision, the Group decided to raise the CO\( \sf _2 \) emission reduction target for FY2030 from the previously announced “15% reduction compared to FY2013” to “30% reduction compared to FY2020.” This means a CO\( \sf _2 \) emission reduction of 37% compared to FY2013 or an upward revision of 22% compared to the previous target. The amount of CO\( \sf _2 \) emission in the newly revised target was calculated in accordance with the Greenhouse Gas (GHG) Protocol*1 and covers direct GHG emissions from owned sources (Scope 1) and indirect emissions from the generation of energy, such as electricity, supplied by other companies (Scope 2).
To achieve the target for FY2030, the Group established as its policy (i) reduction of the amount of use of energy, (ii) decarbonization of energy, (iii) reformation of production process, (iv) technological development, and (v) increase of management efficiency (restructuring of its subsidiaries, etc.) and will work to build a low-carbon logistics business, reduce carbon in energy used in production process, cease to use coal-fueled generators in the salt production business, promote energy-saving activities including investment in energy-saving facilities, etc., use renewable energy, promote resources reduction and energy efficiency in the Group’s products, and strengthen resources recycling.
Moreover, the Company has pledged its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)*2, which was established by the Financial Stability Board in August 2021, and joined the TCFD Consortium. On its website, the Company disclosed information regarding “Governance,” “Strategy,” “Risk management,” and “Metrics and targets” in connection with risks and opportunities presented by climate changes in accordance with the TCFD recommendations.
The Group will further strengthen its initiatives for the realization of a decarbonized society and will actively promote disclosure of information related to climate change.
*1: International standards to measure and manage GHG emissions. Three scopes have been set to classify a company’s GHG emissions according to emission phases.
*2: Means Task Force on Climate-related Financial Disclosures established by the Financial Stability Board (FSB) in response to the G20’s request, for the purpose of considering the implications of climate-related issues for the financial sector and information disclosure. In June 2017, the TCFD published its final report recommending that companies and other entities disclose their climate-related risks and opportunities.
Environmental Vision 2050 of the Air Water Group
[Contact for inquiries]
AIR WATER INC.: Office of Corporate Communications, E-mail: email@example.com