• Contribute fourteen thousand tons of CO₂ emission reduction credits owned by Chugai to Tokyo Metropolitan Government in support of Zero Emission Tokyo
• Aim to achieve a reduction of at least 50% of CO₂ emission by 2030, compared to 2019, and zero CO₂ emissions by 2050

TOKYO, November 5, 2020 -- Chugai Pharmaceutical Co., Ltd. (TOKYO: 4519) announced that the company has contributed fourteen thousand tons of CO₂ emission reduction credits owned by Chugai to Tokyo Metropolitan Government based on the Tokyo Cap-and-Trade Program. The decision was made to support Zero Emission Tokyo, a strategy by the Government that aims to achieve virtually zero CO₂ emissions by 2050.
https://www.kankyo.metro.tokyo.lg.jp/en/climate/zc4d/index.html

Chugai Group sees climate change as one of critical issues in considering global environmental conservation and is working on reducing greenhouse gas emissions (CO₂). Under the mid-term environmental goals to be achieved by 2020, the Group seeks to realize: reduction of energy consumption, promotion of the use of ecological cars as company cars for MR, reduction of the use of specified chlorofluorocarbons to achieve total elimination, and zero waste emission. Above of all, the importance of CO₂ emissions reduction to protect global environment will grow further with increasing needs and expectations from the society. Chugai started initiatives to address this issue by setting long-term goals to achieve a reduction of at least 50% of CO₂ emissions by 2030, compared to 2019, and zero CO₂ emissions by 2050.

With serious impacts of climate change increasing every year, a demand from stakeholders including investors, for proper disclosure of impacts of the climate change on business activities, is also increasing. To meet the demand from the stakeholders, Chugai has been conducting analysis of the pilot scenario according to the framework provided in Task Force on Climate-related Financial Disclosures (TCFD). Based on the analysis results, the company will continue to address risks and opportunities brought by climate change, as well as to promote further information disclosure.

References
- Chugai Supports Statement of Japan Climate Initiative and Recommendations of the Task Force on Climate-related Financial Disclosures (Press Release issued on February 4, 2020)
  https://www.chugai-pharm.co.jp/english/news/detail/20200204150000_686.html
- Mid-Term Environmental Goals (Website on Sustainability by Chugai)
  https://www.chugai-pharm.co.jp/english/sustainability/environment/action.html
- Climate Change Countermeasures (Website on Sustainability by Chugai)
  https://www.chugai-pharm.co.jp/english/sustainability/environment/climate.html

About Zero Emission Tokyo
At Urban 20 Tokyo Mayors Summit held in May 2019, Tokyo Metropolitan Government declared realization of Zero Emission Tokyo, a strategy by the Government to contribute to the achievement of the target of virtually zero CO₂ emissions by 2050. They aim to hold the global average temperature increase to below 1.5°C to fulfill their responsibilities as one of the global major cities.
https://www.kankyo.metro.tokyo.lg.jp/en/about_us/zero_emission_tokyo/strategy.html

About Tokyo Cap-and-Trade Program
Tokyo Cap-and-Trade is a program to impose a duty of total CO₂ emission reduction on large business entities in Tokyo in accordance with Tokyo Metropolitan Ordinance on Environmental Preservation. Under this program, large-scale emitters can trade credits calculated based on the excess reduction they achieved relative to the mandatory targeted CO₂ emission reduction.
https://www.kankyo.metro.tokyo.lg.jp/climate/large_scale/index.html (Japanese only)