Toshiba Group releases 2021 Sustainability Report

TOKYO, February 18, 2022 /PRNewswire/ — Toshiba Corporation (TOKYO: 6502) today released the English edition of the Toshiba Group Sustainability Report 2021, an annual review of policies and initiatives to advance ESG and promote the achievement of the SDGs.


Toshiba Group Sustainability Report 2021

The Toshiba Group Sustainability Report 2021 is compiled and edited by Toshiba’s Sustainability Management Division, established in April 2021 as an independent division reporting directly to the President and CEO. This new organization incorporates the former Sustainability Advocacy Department and is responsible for integrating sustainability perspectives into management, as well as promoting and advancing ESG and SDG initiatives across all business activities.

In addition to reporting on Toshiba Group’s ESG initiatives in fiscal year 2020, the Toshiba Group Sustainability Report 2021 covers the new division’s work to date, strengthening the sustainability management structure , the formulation of the Toshiba Group’s sustainability policy, the re-identification of materiality, and the revision of Environmental Future Vision 2050. These measures are briefly explained below.

1. Strengthen sustainability management structure

Toshiba has ensured that sustainability perspectives are taken into account in management by establishing the Sustainability Strategy Committee. It is chaired by the Chairman and Chief Executive Officer and its members are executives responsible for sustainable development, the chairmen of the main group companies and managers responsible for promoting sustainable development.

Three committees operate under the Sustainable Development Strategy Committee: the Sustainable Development Promotion Committee and the Corporate Environmental Management Committee (established in 1991) review specific actions to advance plans and decisions made by the sustainability strategy committee, including formulating action plans and monitoring their progress. . The Non-Financial Disclosure Committee approves the disclosure of ESG information to be included in the integrated annual report and the sustainability report.

Figure: Toshiba Group Sustainability Management Structure
Figure: Toshiba Group Sustainability Management Structure

2. Toshiba Group Sustainability Policy Formulation

In order to increase the value of the company in the medium and long term, the board amended the rules of the board of directors to include the responsibility to determine the sustainable development policy of the Toshiba group. In October 2021the board formulated the current policy.

The Toshiba Group’s core commitment, “Committed to People, Committed to the Future”, reflects Toshiba’s unwavering determination to contribute to the development of society through business activities. Guided by this commitment and as part of a society facing issues such as energy shortages, resource depletion and climate change, Toshiba does not simply seek short-term benefits, but considers the long-term impact of its business activities on society, and promotes initiatives that contribute to solving social problems.

The Toshiba Group Sustainability Policy will advance this approach and strengthen activities that contribute to social sustainability. The policy is positioned alongside the Toshiba Group Core Commitment, the Toshiba Group Management Policy and Standards of Conduct as core policy, and efforts to promote broad awareness and compliance with the policy. in the front lines of business are now underway, in Japan and abroad.

3. Re-identification of materiality

The Toshiba Group addressed hardware issues identified in 2013 by regularly confirming their status. However, the response to climate change is now imperative on a global scale, and social issues are evolving from various perspectives as shown by the SDGs adopted by the United Nations. The Toshiba group has also reviewed its activities. As a result, we have identified significant new issues in fiscal 2021.

Prior to re-identifying the hardware issues, Toshiba Group extracted and organized the issues with reference to the SDGs, the Global Risks Report published by the World Economic Forum (WEF), and guidelines, including SASB standards (*1) . They were then prioritized in relation to the Group’s core businesses, and refined to those requiring more in-depth consideration.

2021 Re-identification of materiality>

Vision for 2030

Materiality

For the irreplaceable global environment in which we live

Promote business activities with full consideration of the global environment throughout our value chain, from design, sourcing, manufacturing, logistics and sales to disposal.

  • Respond to climate change
  • Respond to the circular economy
  • Consider ecosystems

For the respect of human rights, to nourish people and technology, and to give back to society

Encourage every employee of the Group to feel pride and fulfillment in their work, and to harness creativity and technology by collaborating with business partners to create added value.

  • Secure, retain and train human resources
  • Ensuring employee health and safety
  • Promoting respect for human rights
  • Promoting sustainable purchases
  • Strengthen R&D to stimulate innovation

To further strengthen in-depth governance

Practice transparent corporate governance and optimal internal controls; and executing management with integrity, trusting stakeholders.

  • Strengthen governance
  • Strengthen cyber-resilience

4. Review of Environmental Future Vision 2050

Toshiba has revised its response to climate change in Environmental Future Vision 2050(*2), its long-term vision of environmental management from a holistic perspective including climate change and the circular economy, to further accelerate efforts to achieve carbon neutrality across the entire value chain.

Specific measures will include investments in energy-efficient equipment in the Group’s business operations, the introduction of renewable energy equipment and the expansion of energy supply from renewable sources, as well as a concentration on creating products and services that help reduce greenhouse gas (GHG) emissions. Among other measures, Toshiba will continue its collaborations with suppliers that aim to reduce GHG emissions from purchased products and services, and will also encourage companies in climate change adaptation measures that aim to stabilize energy supply and build resilience.

Guided by Toshiba Group’s Core Commitment, while striving to strengthen ESG activities and information disclosure, Toshiba Group will continue to contribute to solving social issues such as the SDGs through technological advancements and Commercial activities.

– Overview of the Toshiba Group Sustainability Report 2021

  1. Publication date (English edition): February 18, 2022
  2. Available for download at:
    https://www.toshiba.co.jp/sustainability/en/report/download.htm

Remarks:
*1: Sustainable Development Accounting Standards Board. A not-for-profit organization that develops sustainability accounting standards. Founded by John Rogers in 2011.
*2: “Response to climate change” vision, formulated in November 2020: “Contribution along the value chain to achieve net zero GHG emissions in society (50% reduction across the entire value chain of the Group by FY2030)”
Vision “Response to climate change”, revised in November 2021: “Achieving carbon neutrality across the entire value chain (70% reduction in GHG emissions by FY2030)”

Jennifer C. Burleigh