Contribute to widespread use of clean energy through climate change response and environmental efforts

Tokyo Century recognizes that combating climate change is an important management priority. Our efforts to contribute to a decarbonized society include environmental activities in offices, the development of solar power and other renewable energy businesses, the promotion of the Financing Program for Joint Crediting Mechanism (JCM) Model Projects for reducing greenhouse gas emissions through collaboration with developing countries and for sharing emissions reduction benefits between involved countries, and other efforts for addressing climate change through our business activities.

We are also working to reduce Scope 3 emissions. For example, Aviation Capital Group LLC has ordered 60 new Airbus aircraft, including Airbus A220 aircraft that use 25% less fuel than prior models. Furthermore, we have set the target of amassing a fleet of 100,000 electric vehicles by fiscal 2030 in the Automobility segment.

In April 2021, Tokyo Century announced its endorsement of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). In addition, we identified climate change risks and opportunities using multiple scenarios based on the TCFD recommendations and conducted qualitative and quantitative business impact assessments, which are disclosed here.

Contribution to the SDGs

7 Affordable and clean energy / 13 Climate action

Opportunities

  • Growth of renewable energy businesses that address climate change
  • Increased opportunities for supplying new automobility services in light of trend toward electric vehicles (EVs)
  • Rising leasing needs in conjunction with social demand for energy saving and decarbonization

Risks

  • Introduction of carbon taxes, increased regulation, and other risks associated with the transition to a decarbonized society
  • Physical risks arising through increases in natural disasters and abnormal weather events due to climate change

Goals and Progress

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KPI Metric Unit Target year Target Fiscal 2019 Fiscal 2020 Fiscal 2021
Reduction of electricity use
(environmental contributions
through office activities)
Electric use kWh Fiscal
2022
Less than 1,650,000 kWh 1,598,069 1,578,546 1,539,011
CO2 emissions t-CO2 Fiscal
2022
Less than 725t-CO2 818 770 723
Reduction of gasoline use
(environmental contributions
through office activities)
Gasoline use L Fiscal
2022
Less than 65,000L 69,038 43,768 45,360
CO2 emissions t-CO2 Fiscal
2022
151t-CO2 160 102 105
Fuel efficiency km/L Fiscal
2022
More than13.5km/L 13.9 14.3 14.5
Reduction of paper use
(environmental contributions
through office activities)
Paper use
(A4 size equivalent)
Thousands of sheets Fiscal
2022
Less than 10 million sheets 13,832 9,262 8,278
Reduction of head office electricity use (intensity target) Per-area electricity
use
kWh/m2 Fiscal
2030
70.00 kWh/m2 (23% reduction in comparison with FY2009) 65.28 59.75 64.84
Reduction of annual CO2 emissions associated with head office electricity use (intensity target) CO2 emissions from per-area electricity
use
t-CO2/m2 Fiscal
2030
0.041t-CO2/m2 (23% reduction in comparison with FY2009) 0.033 0.029 0.030
Reduction of CO2 emissions
through solar power businesses of four consolidated subsidiaries*1
Annual generation
volume
MWh Fiscal
2022
More than 478,900 MWh 359,665 414,047 482,795
CO2 emissions (compared with standard thermal power generation) t-CO2 Fiscal
2022
More than 191,321
t-CO2
162,029 172,864 192,877
Rate of electrified vehicle use (EVs, FCEVs, PHEVs, HVs) Automobility*2 % none none 16.9 18.4 19.3
Rate of fuel-efficient aircraft*3 use Ratio of fuel-efficient aircraft assets*4 % none none 31.3 40.4 45.7
Projected aggregate greenhouse gas emissions reductions from JCM Model Projects Projected aggregate greenhouse gas emissions reductions t-CO2 Fiscal
2025
56,000 29,795 34,547 35,457

Initiative Example

Promotion of Renewable Energy Businesses Centered on Solar Power Generation

Tokyo Century engages in renewable energy businesses, such as solar and biomass power generation, through collaborations with its partners, which represent one of its strengths.

In 2012, when the feed-in tariff (FIT) program started, we established Kyocera TCL Solar LLC through a joint investment with Kyocera Corporation. This company has been operating one of the largest solar power plants in Japan. We are also promoting biomass power generation through joint ventures with leading partners that include ITOCHU Corporation, JFE Engineering Corporation, and Forest Energy Inc.

To achieve our mid- to long-term goal of 1,000 MW of power generation capacity, we will expand our existing projects and develop new investments to help create a decarbonized society.

Widespread Use of EVs through Leasing

Nippon Car Solutions Co., Ltd. (NCS), in its auto leasing business for corporate customers, has been promoting the introduction of EVs, mainly to the NTT Group. Even before EVs attracted attention for their low environmental impact, NCS actively proposed the use of EVs as an emergency power source during times of disaster. Even now, NCS still handles the highest number of vehicles in the industry.

The company leverages its buying power for manufacturers and its strengths in total solutions, such as communication-type drive recorders and safe driving consulting to support the NTT Group, which intends to convert 100% of its company vehicles to EVs by fiscal 2030 under its EV100 initiative.

In addition, NCS works with NTT Group companies to propose EV packages to approximately 800 municipalities that have declared their commitment to carbon neutral. It cooperates with one of NTT’s close partners, a telecommunications construction company, to manage the installation and maintenance of charging facilities associated with the introduction of EVs. Furthermore, it will supply electricity derived from renewable energy sources in cooperation with NTT Group companies to help local governments achieve carbon neutrality.

Climate Change Actions through the Joint Crediting Mechanism (JCM)

The JCM has been established and implemented to quantitatively assess Japan’s contribution to the reduction and absorption of GHG emissions by diffusing excellent decarbonization technologies, products, systems, services, and infrastructure as well as by implementing other measures in developing countries, and uses the assessment results to achieve Japan’s reduction targets.

Tokyo Century is the first Japanese financial services company to serve as a representative participant of the JCM. We have partnered with local joint ventures in Southeast Asian countries to develop large-scale solar power generation projects using decarbonization technologies. From fiscal 2017 to 2022, a total of 13 projects were implemented in Indonesia, the Philippines, Thailand, and Myanmar.

Tokyo Century’s Contribution to the SDGs

Tokyo Century is contributing to the enrichment of daily life and the sustainable development of society toward achieving the SDGs adopted as a shared responsibility for the international community at the United Nations Summit on Sustainable Development.

SUSTAINABLE DEVELOPMENT GOALS

Sustainability

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