New Toyo International Holdings (N08) H2 2023 earnings summary

Executive summary

• FY2023 sustainability reporting covers Specialty Papers, the trading arm and investment holding operations; Printed Carton and Labels sustainability results are reported separately.

• Group-level targets include carbon neutrality by 2040, net zero emissions by 2050, and 30% renewable energy by 2030.

• FY2023 progress included a 9% reduction in Scope 1 and 2 absolute emissions and a 6% reduction in total energy consumption vs FY2022.

Financial highlights

• ~20% of revenue was distributed to key stakeholders: 8% to employees, 1% to governments and 3% to capital providers; 7% of revenue was retained.

Outlook and guidance

• Targets include a 50% reduction in Scope 1 and 2 emissions intensity by 2030, 25% less waste and 35% less water withdrawal by 2030.

• Additional targets include zero child labour, zero work-related accidents, 30% women in management roles and full adherence to the Code of Conduct.

• Plans include submitting an SBTi commitment letter in 2024, monitoring quantitative carbon-reduction performance and pursuing targets aligned with the 1.5°C scenario.