NYK is participating in the Japan Climate Initiative, a network established in July 2018 to reinforce discussions between companies, local governments, organizations, and NGOs actively engaged in climate action in Japan with the ultimate goal to decarbonized and foster a climate-resilient society, the company said in its press release.
In accordance with its new medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” NYK issued green bonds in May this year to contribute to the sustainable development of society and enrichment of the company's corporate value. The company also indicated its goal to integrate environmental, social, and governance (ESG) initiatives and work to achieve a greenhouse gas (GHG) reduction target, one that has been recognized as science-based by the international Science Based Targets (SBT) initiative.
The NYK Group has positioned responses to global environmental concerns as a significant corporate issue, and NYK will continue its proactive approach to environmental investment and contribute to solving environmental issues including climate change.
The SBT initiative encourages adherence to science-based emission-reduction targets that are in line with the level of decarbonization required to keep global temperature increase below 2 degrees Celsius compared to preindustrial levels. The initiative was jointly established in 2015 by the World Wild Fund for Nature (WWF), the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), and the World Resources Institute (WRI).