Climate change affects international society, the economy, and the environment. It is becoming more serious as every year passes and has become a major issue for businesses. Since establishing the Toppan Printing Declaration on the Global Environment in 1992, Toppan has driven efforts addressing climate change and other environmental issues, looking to the future and seeking to help shape a sustainable society through its business activities.
In May 2019, Toppan announced its support for the recommendations of the Taskforce on Climate-related Financial Disclosure (TCFD) and commenced evaluation of the impact that climate change has on the Company. From here on, Toppan will disclose information from the four perspectives of governance, strategy, risk management, and metrics and targets in line with the TCFD framework. The Company will also continue to consider and implement its response to business risks and opportunities and disclose information as appropriate.
Risks and Opportunities
In response to the worsening of climate change in recent years, countries and businesses throughout the world are targeting a transition to a sustainable society by working to reduce CO2 emission volumes and those of other greenhouse gases.
However, even with these efforts, it is difficult to predict the future accurately, and there are also concerns regarding the emergence of a society exposed to the impact of drastic changes in climate. Toppan recognizes the impact that climate change can have on its operations as a serious issue and has started to analyze and consider countermeasures to such impacts in terms of both transition risks associated with a shift to a low-carbon society and physical risks brought about by drastic climate change.
The TOPPAN SDGs STATEMENT published in November 2019 sets out a commitment to strengthen initiatives addressing environmental issues in the two categories under which material issues are classified. Issues under Companywide Materiality are those to be addressed through the overall corporate activities of the Company, while those under Business Materiality are to be addressed through specific business activities. Toppan does not see climate change simply as a risk to be avoided, but as a chance to create new social value. The Company will continue to strive to create new businesses by responding to the ever-changing climate change situation, and reevaluating and comprehensively exploring business opportunities by employing such methods as scenario analysis.