Toyota Tsusho & Toho Gas Collaborate toward Realization of Carbon Neutrality

Toyota Tsusho Corporation ("Toyota Tsusho") announces it has concluded a memorandum of understanding regarding mutually complementary partnership with Toho Gas Co., Ltd. ("Toho Gas") to promote carbon neutrality in the Chubu region.

The Government of Japan has announced that it will reduce greenhouse gas (GHG) emissions by 46% compared to the 2013 level by 2030 and achieve carbon neutrality by 2050. In its basic policy, the government has established the creation of a "green society" as the driving force for generating growth and promotes a variety of policies.

In April 2021, Toyota Tsusho established the Task Force for Promoting Carbon Neutrality as a groupwide organization. Subsequently, in July 2021, the company announced that, as quantitative targets toward achieving a decarbonized society, it will reduce GHG emissions by 50% below 2019 levels by 2030 and achieve de facto carbon neutrality by 2050.

Against this backdrop, Toyota Tsusho and Toho Gas will commence collaboration to contribute toward carbon neutrality in the Chubu region by using the management resources and expertise of the two companies. This collaboration with Toho Gas is aimed at achieving carbon neutrality by 2050. In this collaboration, the two companies plan to jointly promote the building of a gas energy value chain that contributes toward carbon neutrality through solving the problems related to achieving carbon neutrality that customers have and expanding the use of hydrogen, biogas and other resources in industry and mobility.

In order to pass on a better environment to the children of the future, the Toyota Tsusho Group will contribute to the transition into a decarbonized society by actively promoting businesses that help reduce GHG emissions.