Aug. 27, 2020
Toray Industries, Inc.
Toray Concludes Positive Impact Finance Agreement
Tokyo, Japan, August 27, 2020 – Toray Industries, Inc., announced today that it has concluded a Positive Impact Finance agreement with Sumitomo Mitsui Trust Bank, Limited. Such finance aims to provide ongoing support for corporate activities that contribute to materializing Sustainable Development Goals (SDGs) in keeping with the Principles for Positive Impact Finance (see note 1) of the United Nations Environment Programme Finance Initiative (see note 2).
Toray formulated its Toray Group Sustainability Vision in July 2018 to reiterate its ongoing business stance and initiatives over the medium and long terms and present its vision for the world by 2050 and its specific objectives. Toray is constantly tackling challenges to materialize its vision. Sumitomo Mitsui Trust Bank agreed to conclude the new accord in view of Toray’s efforts to contribute to SDGs.
The Japan Credit Rating Agency, Ltd., provided a third-party opinion (see note 3) to ensure the transparency and objectivity of Sumitomo Mitsui Trust Bank’s evaluation.
In concluding this agreement, Toray established the following themes for initiatives that help materialize SDGs. The company discloses its progress and achievements from such endeavors through the Toray Integrated Annual Report (see note 4) and other materials.
Key Performance Indicators
ccelerate measures to counter climate change
|Materialize a net zero emissions world, where greenhouse gas emissions are completely offset by absorption||・Avoid CO2 emissions in the value chain by expanding supplies of Green Innovation products |
・Reduce greenhouse gas emissions per unit of sales
Realize sustainable, recycling-based use of resources and production
|Materialize a world where resources are sustainably managed||・Waste recycling rate|
Provide clean water and air
|Materialize a world with a restored natural environment, with clean water and air for everyone||・Increase sales of Green Innovation products to four-fold fiscal 2013 levels by fiscal 2030|
・Reduce water usage per unit of sales
Contribute to better medical care and hygiene for people worldwide
|Materialize a world where everyone enjoys good health and hygiene ||・Increase sales of Life Innovation products to six-fold fiscal 2013 levels by fiscal 2030|
Undertake human resources and occupational safety initiatives
|Securing and developing human resources safety and accidents prevention||・Implementation status of career sheets for non-managerial core members, |
・numbers of major accidents , and rates for occupational accidents resulting in lost work time
By delivering the principle of “realizing that corporations are public institutions of society and contributing to society through our business,” we will do our utmost to address global issues, including the goals of the Paris Agreement and SDGs, while working closely with our business partners worldwide, thereby serving as a corporate group of high value to all stakeholders
|1. ||Principles for Positive Impact Finance|
In January 2017, UNEP FI formulated this financial framework for materializing SDGs. Under this setup, having companies disclose key performance indicators for contributions to reaching SDGs, with banks assessing the positive impacts of initiatives and providing funding, contributes to expanding the positive impacts of borrowing companies while reducing their negative impacts. Bank offering loans act as responsible financial institutions to monitor the indicators to verify that impacts are ongoing.
|2. ||United Nations Environment Programme Finance Initiative|
The United Nations Environment Programme was created in 1972 to implement the Declaration of the United Nations Conference on the Human Environment and international environmental action plans. The United Nations Environment Programme Finance Initiative works closely with more than 200 financial institutions that are programme signatories. Since its launch in 1992, this initiative has collaborated with financial institutions, policymakers, and regulators to transform financial systems so they integrate economic progress and environmental, social, and governance considerations.
|3. ||Third-party opinion of Japan Credit Rating Agency, Ltd.|
See the following website for details: https://www.jcr.co.jp/
|4. || Toray Integrated Annual Report 2019 URL|