TOA CORPORATION (Shinjuku-ku, Tokyo: President & CEO Takeshi Hayakawa) has acquired the SBT certification from the SBT Initiative on September 2022 for the group's greenhouse gas reduction targets.

As one of the group's initiatives to address global warming, we have set a target of reducing greenhouse gas emissions by 25% or more by 2030 from the base year of FY2020 for Scope 1+2 and Scope 3, respectively, as a key performance indicator (KPI). This target is consistent with the WB 2°C target, which aims to limit the global temperature increase to well below 2°C above pre-industrial levels, and was also certified by the Science Based Targets initiative (SBTi) as Science Based Targets (reduction targets consistent with scientific findings). WB 2°C target.

Our core business is construction, mainly marine construction, but there are still many issues to be addressed in decarbonizing marine construction, especially in carrying out work vessels. In construction sites, which account for most of Scope 1+2, we will reduce CO₂ emissions not only in marine construction, but also in onshore construction and building works by actively using low-carbon equipment and fuels, and by introducing electricity derived from renewable energy sources. In addition, to reduce Scope 3, we will promote the development and procurement of low-carbon materials and equipment, and we will also work to convert buildings to ZEB. Furthermore, by taking the lead in our initiatives, we will steadily promote the realization of a low-carbon society in cooperation with all members of our supply chain in both civil engineering and construction businesses.

TOA CORPORATION Group's Greenhouse Gas Reduction Target (WB2°C Target)

Scope 1+2	More than 25% cut in FY2030 (FY2020 ratio)
Scope 3	More than 25% cut in FY2030 (FY2020 ratio)

Scope1：Direct greenhouse gas emissions by businesses
Scope2：Indirect emissions from the use of electricity, heat, and steam supplied by other companies
Scope3：Indirect emissions other than Scope 1 and 2 (emissions by other companies related to business activities)

In December 2021, we expressed our support for the final recommendations of the TCFD(Task Force on Climate-related Financial Disclosures) and since then, we are proceeding with the disclosure of climate-related information.

（Reference）Explanation of Terms

• SBT（Science Based Targets）
  Greenhouse gas reduction targets set by companies, consistent with the levels required by the Paris Agreement.
• Paris Agreement
  An international agreement on greenhouse gas reductions agreed by Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) in Paris in 2015. The common long-term global goals are: (1) to keep the global average temperature increase well below 2°C above pre-industrial levels and to limit it to 1.5°C; and (2) to peak out global greenhouse gas emissions as soon as possible to achieve a balance between emissions and absorption (by forests, etc.) in the second half of the 21st century.
• SBT initiatives（SBTi：Science Based Targets initiative）
  An international initiative encouraging companies to set greenhouse gas reduction targets consistent with scientific findings to achieve the goals of the Paris Agreement. It is jointly operated by four organizations: CDP (International NGO on Environmental Information Disclosure), UNGC (United Nations Global Compact), WRI (World Resources Institute), and WWF (World Wide Fund for Nature).
• WB2℃ Target（Well-below 2℃）
  A target level of greenhouse gas reduction consistent with limiting the increase in global average temperature to well below 2°C above pre-industrial levels.