April 6, 2021
Mitsubishi Materials Corporation
Mitsubishi Materials Corporation has set reduction targets to achieve carbon neutrality and reduce our Group's greenhouse gas (GHG) emissions to virtually zero by FY2051. Along with this, based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), we conducted scenario analyses of the impact of climate-related risks and opportunities on our business and financial performance.
In order to contribute to the creation of a decarbonized society, which is the company's goal, we have set a mid to long-term target to reduce GHG emissions by 17% by FY2031 (compared to FY2014) and become carbon neutral by FY2051.
In particular, in our product-based businesses (high-functional products and processing business), we will actively work to reduce GHG emissions by setting a target of reducing emissions by 30% or more by FY2031. In addition, as one of our reduction measures, we have set a target to use renewable energy sources for at least 20% of the electricity used in the Group's businesses by FY2031.
In parallel with the setting of GHG reduction targets, based on TCFD recommendations, we set up scenarios. We analyzed them in order to understand the impact of climate change on our Group's businesses (risks and opportunities) and consider measures to reduce risks and seize opportunities.
We selected the introduction and strengthening of the carbon price tax system as a transition risk and natural disasters as a physical risk in risks common to all businesses. And we identified risks and opportunities that took into account and assessed their impact on each business.
Based on our corporate philosophy of "For People, Society and the Earth.", our Group's vision is "We will become the leading business group committed to creating a sustainable world through materials innovation, with use of our unique and distinctive technologies, for People, Society, and the Earth."
To achieve our goal, and based on the results of scenario analyses, we will thoroughly implement manufacturing that considers reducing environmental impact and actively promoting greenhouse gas emissions reduction to further contribute to the building of a decarbonized society.
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