TOKYO, JAPAN — April 23, 2021 — As a member of the Japan Climate Initiative (JCI), DIC Corporation announced today that it has endorsed the message released by the JCI titled “Calling for an Ambitious 2030 Target for Japan to Realize the Paris Agreement Goal.” This message urges the Japanese government to set an ambitious nationally determined contribution (NDC) target for the country for 2030—namely, a reduction in greenhouse gas emissions of 45% or more and an increase in renewable energy used of between 40% and 50%—to help ensure achievement of the long-term temperature goal of the Paris Agreement. Information on the JCI’s message can be found here.
The DIC Group is promoting environmental, social and governance (ESG) management as a core theme of its DIC111 medium-term management plan, setting key targets and hastening related efforts. Having identified “response to climate change” as an environmental issue identified of material importance, that is, of having the potential to significantly impact its medium- to long-term performance, the DIC Group has set a global CO2 emissions reduction target of 30% from the fiscal year 2013 level by fiscal year 2030. The Group has also set forth a long-term vision for achieving carbon neutrality by 2050.
The JCI message calls for Japan to help avoid a climate crisis by strengthening its emissions reduction target to a level that is both appropriate given Japan’s role and responsibility as a developed economy and more aligned with targets set by the European Union and the United States. Japan’s ability to meet such a target will depend not only on independent efforts by companies, municipalities and other organizations, but also on comprehensive undertakings that transcend the traditional boundaries separating such non-state actors. Determined to step up its own efforts to promote decarbonization, DIC resolved to endorse the JCI’s message.
DIC Corporation is the core of the DIC Group, a multinational organization comprising over 170 companies around the globe. Guided by its “Color & Comfort” brand slogan, the Group will continue to promote ESG initiatives tied to its business activities and to enhance disclosure, as well as maintain an accurate grasp of related social imperatives with the aim of contributing to sustainability for society.
The DIC Group’s Approach to Value Creation
With the aim of ensuring a sustainable society, the DIC Group strives to provide products and solutions that respond to the needs of markets and its customers and add color and comfort to life.
The DIC Group’s Sustainability Program
The DIC Group launched its corporate social responsibility (CSR) program in fiscal year 2007. Having further clarified the overall direction of related initiatives as “sustainable growth,” effective from fiscal year 2014 the Group changed the designation used across its program from “CSR” to “sustainability.” In fiscal year 2018, DIC established the ESG Unit, a specialized department to further expand Group ESG initiatives worldwide. In line with its basic sustainability policy, the DIC Group promotes a variety of sustainability initiatives worldwide and works to maintain an accurate grasp of social imperatives pertaining to ESG-related issues.
To accelerate the transformation of its business portfolio by focusing on businesses that deliver both social and economic value, the DIC Group formulated a proprietary sustainability index to clarify the social value that the Group provides.
Support for the TCFD
In May 2019, the DIC Group declared its support for the Task Force on Climate-related Financial Disclosures (TCFD). Recognizing climate change as a critical factor affecting its businesses, the Group pledges to disclose related information in line with TCFD recommendations.