EARTH FOOD CHALLENGE 2030
The NISSIN FOODS Group holds to the philosophy of being an EARTH FOOD CREATOR, contributing to society and the Earth by bringing joy and pleasure to people through food. We aim to create sustainable societies and improve corporate value under this philosophy. As global environmental issues such as climate change have emerged as a larger issue in recent years, we view the higher-level pursuit of environmental measures as an important management issue. We are a global company that supports the food of people around the world, and we have formulated EARTH FOOD CHALLENGE 2030 as a long-term vision.
EARTH FOOD CHALLENGE 2030 consists of two main pillars: 1) EARTH MATERIAL CHALLENGE (our aim to protect the environment surrounding the Earth's resources and to make effective use of resources) and 2) GREEN FOOD CHALLENGE (our aim to reduce CO₂ emissions in all business activities of the Nissin Foods Group).
EARTH MATERIAL CHALLENGE focuses on three themes: Source sustainably, Conserve natural resources, and Create a world without waste. GREEN FOOD CHALLENGE encompasses three activities: Manufacture with green electricity, Develop with green ingredients, and Complete with green packaging. The NISSIN FOODS Group is united in our efforts to achieve the targets set for each activity.
Our Challenge to Utilize Finite Resources Effectively
Sustainable Palm Oil Procurement Ratio
Water Usage
Total Waste Reduction to Logistics
Recycling Rate
Targets
100%
12.3㎥ or less
Per million yen of
revenue
(IFRS basis)
-50%
Vs. FY 3/2016 (Japan)
Maintain
99.5%or more
(Japan)
Actual FY3/2022
36%
11.3㎥
-47.1%
99.7%
Sustainable Palm Oil Procurement Ratio
Targets
100%
Actual FY3/2022
36%
Water Usage
Targets
12.3㎥ or less
Per million yen of
revenue
(IFRS basis)
Actual FY3/2022
11.3㎥
Total Waste Reduction to Logistics
Targets
-50%
Vs. FY 3/2016 (Japan)
Actual FY3/2022
-47.1%
Recycling Rate
Targets
Maintain
99.5%or more
(Japan)
Actual FY3/2022
99.7%
Challenge to Climate Change
CO₂ Emissions: Scope 1+2
CO₂ Emissions: Scope 3
Targets
-30%
Vs. FY 3/2019
-15%
Vs. FY 3/2019
Actual FY3/2022
+2.7%
+7.6%
CO₂排出削減：Scope 1+2
Targets
-30%
Vs. FY 3/2019
Actual FY3/2022
2.7%
CO₂排出削減：Scope 3
Targets
-15%
Vs. FY 3/2019
Actual FY3/2022
+7.6%
TCFD Compliance
The NISSIN FOODS Group consists of companies that create food. We consider climate change to be a key management risk, as climate change has a variety of impacts. These impacts include raw material price hikes, damage to manufacturing plants, and changes in consumer purchasing activities. NISSIN FOODS HOLDINGS endorses the disclosure of information on governance, strategy, risk management, and metrics and targets recommended by the Task Force on Climate-related Financial Disclosure (TCFD) established by the Financial Stability Board., We also endorse the TCFD Consortium, which was established in May 2019.
NISSIN FOODS Group Approach to the Disclosures Recommended by the TCFD
| Governance | We recognize that climate change is an important management issue. Our Sustainability Committee, chaired by the president, representative director and CEO, considers how to address various environmental issues, including factors that pose risks and opportunities for the group as a result of climate change. In FY 3/2020, we formulated our environmental strategy, EARTH FOOD CHALLENGE 2030. This strategy was submitted to the board of directors after being reported to the Management Committee. In April 2021, we also established the Sustainability Advisory Board as an advisory body to the board of directors. The Sustainability Advisory Board provides a forum for management and external experts to discuss ESG matters that affect the group. We disclose the details of these discussions externally and reflect matters in our management policies and through various measures. |
|---|---|
| Strategy | EARTH FOOD CHALLENGE 2030 is the NISSIN FOODS Group environmental strategy. Under this strategy, we set numerical targets for CO₂ emissions, water usage, and waste based on the results of climate change scenario analysis conducted in FY 3/2020. By working to achieve these targets, we reduce climate change risks and engage in initiatives, including the use of plant-based meat alternatives, developing cultured meat, and developing raw materials with low environmental impact, as we aim to become a corporate entity that creates new business opportunities. |
| Scenario Analysis | The NISSIN FOODS Group established a project team to understand the impact of climate change on our business activities. We conducted a scenario analysis based on the TCFD recommendations released in 2017. We identified the transitional and physical risks that climate change poses to raw material procurement. As a result of focusing our analysis on risks having a high impact on our business, we determined that risks related to the procurement of major raw materials are unlikely to hinder the mid- to long-term growth of the group. At the same time, we found that the impact on group earnings could be significant if greenhouse gas emissions regulations were tightened and carbon taxes increased. |
| Risk Management | The NISSIN FOODS Group established the Risk Management Committee under the direction control of the board of directors. This committee monitors the management of various risks, including environmental risks, and strives to avoid damage to corporate value. |
| Metrics and Targets | The NISSIN FOOD Group Earth Food Challenge 2030 environmental strategy includes targets to reduce Scope 1 and 2 emissions by 30%, and to reduce Scope 3 emissions by 15% (compared to FY3/2019). We also set targets for waste, raw material procurement, and water usage. For more details, refer to our EARTH FOOD CHALLENGE 2030 website. |
