Climate Change Data

New Toyo International Holdings Ltd

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:5,367 tCO2e
Scope 1 Emissions:1,736 tCO2e
Scope 2 Emissions:3,631 tCO2e
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:44,947 GJ
Water Consumption:19.87 megaliters
Waste Generated:1,951 tonnes (non-hazardous), 168 tonnes (hazardous)
Carbon Intensity:42.37 tCO2e/S$ million revenue (FY2022)

ESG Focus Areas

  • Environmental Care
  • Supplier of Choice
  • Responsible Employer
  • Governance and Ethics

Environmental Achievements

  • Reduced energy intensity by approximately 17% in FY2022 (0.355 TJ/S$ million revenue)
  • Reduced GHG emission intensity by approximately 14% in FY2022 (42.37 tCO2e/S$ million revenue)
  • Reduced total volume of water used from 21.20 megaliters in FY2020 to 19.87 megaliters in FY2022
  • Recycled 73% of non-hazardous waste (1,415 tonnes) and 27% of hazardous waste (46 tonnes) in FY2022
  • Installed solar panels in Vietnam factory

Social Achievements

  • Increased total headcount by 26% from 367 in FY2021 to 464 in FY2022
  • Maintained zero cases of discrimination in FY2022
  • Zero work-related fatalities or high consequence work injuries in FY2022
  • Supported various community engagement initiatives in Singapore and Vietnam

Governance Achievements

  • No significant instances of non-compliance with laws and regulations in FY2022
  • No recorded incidents of breaches of customer privacy or losses of customer data in FY2022
  • No legal actions for anti-competitive conduct, antitrust or monopoly practices in FY2022
  • No incidents of corruption reported or confirmed in FY2022

Climate Goals & Targets

Long-term Goals:
  • Align with Singapore’s decarbonisation pledge of net zero emissions by 2050
Medium-term Goals:
  • Develop Scope 3 inventory and decarbonization plan
  • Set GHG reduction targets
  • Assess sustainability impact at each stage of product value chain
  • Increase recycled material content used at each site
Short-term Goals:
  • Reduce work-related accidents and lost days; achieve zero work-related fatalities in FY2023
  • Maintain a Good performance rating (4 out of 5) in customer satisfaction in FY2023
  • Achieve zero cases of discrimination in FY2023
  • Maintain zero occurrence of corruption incident

Environmental Challenges

  • Shortage of manpower and challenges in staff retention in operations and production-related jobs
  • Increased energy consumption due to increased production at sites in UAE and Malaysia
  • Increased non-hazardous waste generation due to increased production in Malaysia and waste from new product development
Mitigation Strategies
  • Implementing various measures to improve energy use and efficiency (efficient motors, LED lighting)
  • Exploring the feasibility of utilizing renewable energy sources
  • Regular machine maintenance and limiting machine downtime
  • Tracking and monitoring waste generated to identify improvement opportunities

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (cyclones, floods)
Transition Risks
  • Stricter climate-related regulations
  • Technology obsolescence due to transition to lower-carbon economy
Opportunities
  • Replacing some pre-processed materials with renewable packaging materials to reduce customer climate footprint

Reporting Standards

Frameworks Used: GRI Standards, TCFD Recommendations

Certifications: ISO 9001 (Malaysia, Singapore, Vietnam sites)

Third-party Assurance: Internal review by internal auditor

UN Sustainable Development Goals

  • Gender equality
  • Clean water and sanitation
  • Decent work and economic growth
  • Responsible consumption and production
  • Climate action
  • Peace, justice and strong institutions

Not disclosed

Sustainable Products & Innovation

  • Renewable packaging materials

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:146,563 tCO2e/year
Scope 1 Emissions:1,615 tCO2e/year
Scope 2 Emissions:3,773 tCO2e/year
Scope 3 Emissions:141,175 tCO2e/year
Renewable Energy Share:1%
Total Energy Consumption:42,446 GJ/year
Water Consumption:19.4 Ml/year
Waste Generated:1733 tons/year
Carbon Intensity:0.17 tCO2e/ton of production (Scope 1 & 2); 4.50 tCO2e/ton of production (Scope 1, 2 & 3)

ESG Focus Areas

  • Climate Change
  • Energy Efficiency
  • Water Security
  • Biodiversity
  • Waste Management
  • Supplier Sustainability
  • Product Quality
  • Anti-Corruption
  • Employee Well-being
  • Diversity & Inclusion
  • Community Engagement
  • Governance

Environmental Achievements

  • 6% reduction in total energy consumption compared to FY2022
  • 9% reduction in Scope 1 and 2 absolute emissions compared to FY2022
  • 2.3% reduction in water withdrawal compared to FY2022
  • 100% recycling rate for Non-Hazardous Waste and 93% recycling rate for total waste generated
  • 0.053 ton/ton waste intensity per production volume compared to FY2022’s 0.058 ton/ton
  • 2% increase in the proportion of renewable materials used compared to FY2022

Social Achievements

  • 1% reduction in employee turnover compared to FY2022
  • 42% increase in average training hours per female employee compared to FY2022
  • Investment in communities including participation in SICC May Day Charity, scholarship sponsorship and donation for social causes.
  • 38% reduction in rate of recordable work-related injuries compared to FY2022

Governance Achievements

  • Established six guiding principles for New Toyo’s transition towards sustainability and enhancement in our sustainability capabilities.
  • External verification of Scope 1 and 2 emissions

Climate Goals & Targets

Long-term Goals:
  • Carbon Neutral by 2040 (Absolute Scope 1 and 2 emissions)
  • Net zero emissions by 2050 (Absolute Scope 1 and 2 emissions)
  • Zero accidents Group-wide each year
Medium-term Goals:
  • 50% reduction in Scope 1 & 2 emissions intensity by 2030
  • 30% energy from renewable sources by 2030
  • 25% reduction in total waste generated by 2030
  • 35% reduction in total water withdrawn by 2030
  • Net zero deforestation of managed forests in our supply chain and net positive impact on forests in our supply chain by 2030
  • 30% women in management roles
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Increased carbon pricing and evolving sustainability reporting requirements could translate to higher compliance costs.
  • Unfamiliarity with novel technology and solutions necessitates careful navigation when investing in alternative and energy-efficient machinery.
  • Logistics disruption, supply chain interruption and closure resulting from extreme weather events.
  • Changing consumer preferences amidst the growing urgency surrounding environmental sustainability. Consumers’ likelihood to switch to competitors offering more sustainable solutions could erode our market share.
  • Implementation of Extended Producer Responsibility and the trend towards non-packaging solutions impact our traditional revenue streams.
Mitigation Strategies
  • Invested in research and development (“R&D”) to explore recyclable packaging materials with innovative barrier technologies.
  • Initiatives range from lean manufacturing and efficient use of raw materials to product design, and product range and process optimisation.
  • Investment in the installation of solar panels at our facilities and initiating Scope 3 GHG emissions inventory.
  • Actively exploring initiatives to decarbonize our operations, such as replacing diesel-fuelled equipment with electrical alternatives.
  • Embedding climate-related risks and opportunities into our core decision-making and business strategy.
  • Actively engaging and educating suppliers within its value chain regarding climate-related issues.
  • Communicating expectations for all our suppliers to demonstrate environmental stewardship and adhere to relevant environmental laws and regulations via our Supplier Code of Conduct.
  • Ensuring that our suppliers attain certification to minimize the environmental footprint associated with our products.
  • Improving the circularity of our products, working on our adaptability to the emerging challenges and understanding market dynamics.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks
  • Increased severity of extreme weather events such as floods affecting production
Transition Risks
  • Increased pricing of GHG emissions
  • Costs to transition to lower emissions technology
  • Changing customer behaviour
Opportunities
  • Opportunities for energy efficiency technologies to reduce overall energy consumption
  • Expansion of product range to sustainable and renewable solutions could expand the stream of revenue

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, TCFD

Certifications: ISO 9001

Third-party Assurance: Intertek Deutschland GmbH (limited assurance for Scope 1 and 2 GHG emissions)

UN Sustainable Development Goals

  • Goal 7
  • Goal 9
  • Goal 12
  • Goal 13

Not disclosed

Sustainable Products & Innovation

  • Board and paper with recyclable barriers and ability to preserve food and liquid over time

Awards & Recognition

  • 2023 Most Transparent Company Award for the Material Category (NTA)
  • Ho Chi Minh City Green Business Award (NTVN)
  • Silver EcoVadis Medal (PBC, 2023)
  • Silver EcoVadis Medal (NTA, 2022)