Contribution Products for Natural and Living Environment
The Kuraray Group believes that its unique products and cleaner technologies will help bring about a sustainable society, and we are working to expand the range of products that make positive contributions. Under the Medium-Term Management Plan “PASSION 2026” products and technologies that contribute to the Kuraray’s Materiality are incorporated into the business plans of each business division and Group company, as well as the Research and Development Division.
The Kuraray Group decided to install Kuraray Portfolio Sustainability Assessments (PSA) system to enhance objectivity and transparency when we set our targets of the products which contribute to both Natural and Living Environment. The Kuraray Group PSA system has been established in accordance with PSA guidelines developed by the World Business Council for Sustainable Development (WBCSD).
The Kuraray Group has also positioned social and environmental value as an axis used to build a more sophisticated business portfolio. To use the screening results of the Kuraray PSA system as an indicator for this axis, we had to expand the ratio to total sales of products evaluated based on the PSA guidelines of the WBSCD. Such products accounted for 58% of total sales in fiscal 2022. We plan to increase this ratio to 80% by 2024.
In addition, based on the results of screening, products that PSA score 4 or 5 are designated as contribution products on both natural and living environments. The target is to increase the sales revenue ratio of such products from 46% in 2020 to 55% in 2024 and 60% in 2026. Targets for Natural environment and Living environment contribution products are shown in the table as below. “PASSION 2026” calls for us to continue seeking to achieve the sales ratio target for products that contribute to the natural and living environments.