Tokyo, JAPAN (September 29, 2023) – Suntory Group today announced that it has begun disclosure of nature-related information based on the Taskforce on Nature-related Financial Disclosures (TNFD) framework. (Link to page)
This disclosure is based on the analysis and progress made in the pilot operation of Science Based Targets Network (SBTN), in which Suntory Holdings is the only Japanese company participating, to verify the methodology for setting targets for freshwater and land use (see News Release No.14393). Based on the assessment of the impact and dependence of its own operations on nature, this disclosure will be specifically focusing on the water use in its alcoholic beverage business.
After being conceived at the 2019 World Economic Forum Annual Meeting, the TNFD was officially established in June 2021 with a mission to develop and deliver a risk management and disclosure framework for organizations to report and act on evolving nature-related risks, and an ultimate aim of supporting a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes. Specifically, requirements include conducting an analysis of risks and opportunities after assessing dependence and impacts on nature-related businesses, and disclose them in terms of "Governance," "Strategy," "Risk and impact management," and "Metrics and targets”.
For this disclosure, the group used the results of the direct operations and upstream supply chain analysis in the first two steps in SBTN goal-setting process, "Assess" and "Interpret & prioritize" for the ‘Locate’ and ‘Evaluate’ steps in the four steps of the LEAP Approach (Locate, Evaluate, Assess, Prepare), which is the characteristic of the TNFD framework. Based on this result, analysis was conducted for direct operations in the group’s alcoholic beverage business for the ‘Assess’ step.
Figure: Linkage between TNFD and SBTN
◆Comments from Masaaki Fujiwara, Chief Sustainability Officer of Suntory Holdings
“In order to take the right actions as a global beverage company supported by the blessings of nature, it is essential to comprehensively address the deeply interrelated issues of climate change, biodiversity, and the water crisis. Through the piloting of the SBTN methodology and the TNFD disclosure based on its content, we will engage in dialogue with a wide range of stakeholders to achieve a truly Nature Positive society.”
Suntory Group will set future targets based on the progress of the SBTN pilot operation, further analyze risks and opportunities, and reflect specific measures in our strategy, aiming to realize a "Nature Positive" society consistent with the global standards based on science.
As a corporation sustained by the gifts of nature and water, the group will continue to promote sustainability management in order to preserve biodiversity and to realize a sustainable society. Through all of its corporate pursuits, Suntory Group seeks to inspire the brilliance of life.
Learn more about Suntory Group’s environmental activities here.
About Suntory Group
As a global leader in the beverage industry, Suntory Group offers a uniquely diverse portfolio of products, from premium spirits, beer, wine, ready-to-drink alcohol beverages, to brewed teas, bottled water, still and carbonated soft drinks, ready-to-drink coffee and energy drinks, along with health and wellness products. Suntory is home to award-winning Japanese whiskies Yamazaki, Hibiki and Hakushu, as well as iconic American spirits Jim Beam and Maker's Mark. Suntory also fascinates the taste buds with The Premium Malt's beer, and owns the exceptional Japanese wine, Tomi, and the world-famous Château Lagrange. Its brand collection includes Sauza Tequila, non-alcoholic favorites Orangina, Lucozade, Ribena, BOSS coffee, Iyemon green tea, Suntory Tennensui water, TEA+ Oolong Tea, V and BRAND’S, as well as popular health and wellness product Sesamin EX.
Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group has grown into a global company operating throughout the Americas, Europe, Africa, Asia and Oceania, with an annual revenue (excluding excise taxes) of $20.2 billion in 2022. Its 40,885 employees worldwide draw upon the unique blend of Japanese artisanship and global tastes to explore new product categories and markets.
As a corporation sustained by the gifts of nature and water, Suntory Group will always protect the ecosystems that deliver water. Because its ecosystem is the wellspring, not only of its business and the rich experiences the group creates for people's lives, but also of human life itself. Suntory Group will continue to be a company where everyone is empowered with the freedom and flexibility to innovate. Through all of its corporate pursuits, Suntory seeks to inspire the brilliance of life.