Green Innovation Business Expansion Project

Toray Group embraces the thinking that all business strategies must prioritize responsibility for the global environment in an effort to help build a more sustainable world with a small carbon footprint. The Group is endeavoring to realize this vision by addressing global environmental, resource, and energy issues through the continued implementation of the Green Innovation Business Expansion Project. Under the Medium-Term Management Program, Project AP-G 2022, which began in fiscal 2020, the Group promoted the expansion of environment-related businesses and a challenging target of 1 trillion yen in consolidated revenue by fiscal 2022 based on International Financial Reporting Standards (IFRS). Despite the further challenges created by the COVID-19 pandemic, the Group achieved 993.4 billion yen, which is slightly below the target. Green Innovation businesses have steadily grown since the start in 2011, reaching 40% of the Group’s consolidated revenue by the end of fiscal 2022¹. Under the Medium-Term Management Program, Project AP-G 2025, which began in fiscal 2023, the Group has combined its Green and Life Innovation businesses to create the Sustainability Innovation (SI) business, which it aims to further expand.

In fiscal 2022, Toray Group products helped to reduce CO₂ emissions² in the value chain by 365.72 million tons (9.5 times higher than in fiscal 2013) and added 67.00 million tons of water filtration³ (2.5 times higher than in fiscal 2013).

1. 1 Some Green Innovation results are also included in the Life Innovation results.
2. 2 Toray calculates the value chain CO₂ emissions reduced throughout the entire product lifecycle in accordance with the chemical sector guidelines of the Japan Chemical Industry Association, and the International Council of Chemical Associations (ICCA).
3. 3 Water treated annually with Toray water treatment membranes. It is calculated by multiplying the amount of fresh water that the Toray membranes can produce per day, including reverse osmosis (RO), ultrafiltration (UF) and membrane separation bioreactors (MBR), by the number of membrane elements sold.

Note: FY 2020-22 performance and FY 2022 target are revenue based on International Financial Reporting Standards (IFRS).