We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Former President/Chairman of Toray Industries is an Honorary Chairman of Keidanren
Former President / Chairman of Toray Industries Sadayuki Sakakibara
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Member of Keidanren
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Former President/Chairman of Toray Industries is an Honorary Chairman of Keidanren
Former President / Chairman of Toray Industries Sadayuki Sakakibara
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Member of Keidanren
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Lobbying Overview: Toray Industries has some direct engagement with climate policy, both in Japan and globally. It has expressed some support for achieving global carbon neutrality and the goals of the Paris Agreement in its top-line messaging. The company has not supported the EU border carbon tax while expressing strong support for green hydrogen and some support for renewables.
Top-line Messaging on Climate Policy: Toray Industries appears to hold mixed positions in its top-line messaging on climate policy. It supported IPCC science on climate change in a sponsored article in the Economist Impact in December 2021, and appeared to support the goals of the Paris Agreement in a press release on its website in November 2021. In November 2021, Newswitch reported that Toray Industries CEO Akihiro Nikkaku said that the movement toward achieving global carbon neutrality is “welcome,” however he stated in an interview with Zaikai in April 2021 that “the hurdle to zero emissions is high, and it is important to achieve balance, not zero,” and appeared to emphasize the need for policies that consider such feasibility. Toray Industries has not appeared to state a position on the need for climate change policy.
Engagement with Climate-Related Regulations: Toray Industries appears to have limited disclosure of its climate-relevant policy positions and lobbying activities on its corporate website. Regarding carbon tax, in an advertisement feature published in Economist Impact in December 2021, Toray Industries appeared to support ”measures to tax CO2.” However, on carbon border adjustment mechanisms, in a Ministry of Economy, Trade and Industry (METI) hearing in March 2021, it expressed concerns about the “possibility of a market lockout” due to the EU border carbon tax. In its 2021 CDP submission, Toray Industries disclosed that it engages directly with policymakers in support of reducing GHG emissions through the value chain based on a life cycle assessment approach, but did not indicate a position regarding GHG emissions regulations.
Positioning on Energy Transition: Toray Industries appears to support the decarbonization of the energy mix. In a METI working group in June 2022, Toray Industries supported the inclusion of “green hydrogen in the non-power field and expansion of renewable power” in the Japanese government’s Green Growth Strategy. In 2022, Toray Industries sponsored a WSJ Custom Content article supporting the development of offshore wind power as a climate change solution. In the METI Hydrogen and Fuel Cell Strategy Council in March 2021, Toray Industries requested policy mechanisms to promote green hydrogen, as well as support for “electrification with decarbonized electricity, hydrogenation, methanation, synthetic fuels, etc.” and a “balance” between overseas procurement of ammonia and green hydrogen and domestic development of hydrogen infrastructure. At the Nikkei Social Innovation Forum in September 2021, an executive advisor of Toray Industries supported the expanded supply of green hydrogen “to realize carbon neutrality.” Furthermore, articles in the Economist Impact sponsored by Toray Industries in December 2021 recognized hydrogen as playing a “key role” in realizing “zero-carbon energy” and stated that “the next decade will become green hydrogen’s moment.” In a METI council hearing in June 2022, Toray Industries appeared to support decarbonization of the aviation industry, sharing that it will contribute to GHG reductions through its Green Innovation Business, including “renewable energy and hydrogen-related materials.”
Industry Association Governance: Toray Industries lacks a dedicated, clearly identifiable disclosure of its memberships and engagement with industry associations on its corporate website, and has only disclosed its membership in the Japan Chemical Industry Association (JCIA) in its 2021 CDP response. However, Toray Industries is also a member of the Japan Business Federation (Keidanren), Japan Chemical Industry Association (JCIA), Japan Pharmaceutical Manufacturers Association (JPMA), Japan Society of Industrial Machinery Manufacturers (JSIM), and Central Japan Economic Federation (CJEF). The former president and chairman of Toray Industries is an honorary chairman of Keidanren. Keidanren and CJEF appear to have lobbied negatively on a number of climate-related policies, as well as JCIA and JSIM to a lesser extent.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q4 2022.