The impacts of climate change are becoming more serious every year, public interest in this issue is rising, and society is demanding that companies step up with big actions. The Task Force on Climate-related Financial Disclosures (TCFD), which was established by the Financial Stability Board, published its final report in 2017 that urged companies to disclose information on their climate-related risks and opportunities.
Toshiba Tec Group will actively disclose information on climate change in the four areas (Governance, Strategy, Risk Management, and Metrics and Targets) specified by the TCFD.
In addition, Toshiba Group have expressed our support for the TCFD recommendations and are a member of the TCFD consortium, which aims to promote actions by organizations in Japan in support of the TCFD recommendations.

In the Toshiba Tec Group, the Corporate Environmental Officer reports on climate change and other important environmental issues, especially important agendas related to management risks or opportunities. This is done to the President at the Corporate Management Meeting as well as to all the directors, including the outside directors, twice a year at the Board of Directors meeting. What is discussed and decided upon at board of directors meetings is reflected in our group's management strategy.
Prior to board of directors meetings, the policies, strategies, and measures related to the environment, including climate change, are discussed at the Corporate Environmental Management Committee, which is chaired by the Corporate Environmental Officer. This semiannual meeting is attended by the environmental promotion managers of key group companies, corporate staff division managers, and Corporate Environmental Management Office personnel.
Environmental Management Promotion Structure

The Toshiba Tec Group considers "environmental management" as an important issue, and in particular “climate change mitigation and adaptation" which has a significant impact on business activities due to the magnitude and scale of its influence.
We are attempting to predict the future, specifically 2030 and 2050, by analyzing climate change-focused scenarios such as the 2°C (and beyond 2°C) scenario by the International Energy Agency (IEA) and the 4°C scenario by the Intergovernmental Panel on Climate Change (IPCC). The 2°C (and beyond 2°C) scenario predicts risks (e.g., stricter energy efficiency regulations and the introduction of a carbon tax) as well as opportunities (e.g., increased demand for energy-saving products and energy technologies to realize decarbonization). The 4°C scenario predicts higher physical risks due to disasters such as flooding and typhoons. Based on these predictions, each group company analyzes risks and opportunities in each business field and shares the analysis results at Corporate Environmental Management Committee meetings. We will estimate the medium-to long-term risks and opportunities for market expansion/creation for each business based on the TCFD recommendations, and we will reflect these estimates in our future business strategies.
The table below shows the currently assumed risks and opportunities for Toshiba Tec Group.

"Response to climate change" is one of the priority actions in the newly created "Environmental Future Vision 2050".
Considering the fact that GHG emissions throughout our entire value chain are mostly derived from the use of products and services, we will take effective measures such as the improvement of the energy-saving performance of products and services, and the expansion of the business for realizing a decarbonized society.

At the business risk meeting, we assess risks of matters, including climate change-related risks, that have a significant impact on management. Matters that are especially important due to their business risks are discussed at the Management Committee meeting.
Moreover, climate change-related risks and opportunities that have been assessed and identified are shared by the Corporate Environmental Officer, group companies, and corporate staff divisions at Environmental Management Committee meetings, and these are managed through the aforementioned organizational structure for promoting environmental management.

The Toshiba Tec Group aims to achieve carbon neutrality throughout its entire value chain by contributing to realizing a net zero emissions society by 2050.
Toshiba Tec group set out the following breakdown of greenhouse gas (GHG) reduction targets for FY2030 and are promoting initiatives to achieve such targets.

(All 2019 standards)
-Reduce the total of Scope 1*1 and Scope 2*2 (GHG emissions generated from Toshiba Tec Group's own business activities) by 97% by FY2030.
-Reduce the total of Scope 2 by 100% by FY2030.
-Reduce use-phase GHG emissions of "products and services associated with power consumption"*3 sold in Scope 3*4 by 14% by FY2030.

*1 Amount of direct emissions through fuel use at Toshiba Tec Group
*2 Amount of indirect emissions through use of electricity and heat purchased by Toshiba Tec Group
*3 Retail & printing equipment
*4 Amount of indirect emissions generated by Toshiba's value chain (raw materials procurement, distribution, sales, disposal, etc.) outside Scopes 1 and 2

Toshiba Group’s Environmental Future Vision 2050
The Seventh Environmental Action Plan