NISSIN FOODS HOLDINGS CO., LTD.
NISSIN FOODS HOLDINGS CO., LTD.
Basic values and policy for corporate action towards a circular economy
The NISSIN FOODS Group is committed to Creating Shared Value (CSV) management under the philosophy of EARTH FOOD CREATOR, contributing to society and the earth by gratifying people everywhere with the pleasures and delights food can provide. We believe the Sustainable Development Goals (SDGs) and ESG issues such as climate change, aging and population growth provide opportunities for growth. We endeavor to contribute to society through our actions towards a circular economy.
On this basis, we have defined the reduction of environmental impacts as a material issue we face as we work to maintain our sustainable growth into the future and we have formulated Earth Food Challenge 2030, a comprehensive environmental strategy. We have announced that our Group will be united in its efforts to meet our targets quantified for 2030.
Market opportunities and advantages in recycling-oriented businesses
Our iconic product, Cup Noodles, is constantly evolving.
In 2008, it switched to the ECO Cup made of paper, which is a renewable resource, to minimize the consumption of oil and other limited resources. In 2019, in a more intensive effort to address CO2 issues, we began using the environmentally-friendly Biomass ECO Cup, which has its biomass content increased to 81%. We are planning to use the Biomass ECO Cup for all products in the Cup Noodles series within fiscal 2022 (ended March 31, 2022), which marks the 50th anniversary of the release of Cup Noodles.
Among the ingredients we use is a hybrid meat ingredient known as Nazoniku that contains plant-derived materials. In June 2021, we announced the discontinuation of lid stop stickers made of plastic.
We understand that these activities will help resolve issues being discussed around the world and will be an essential part of the attainment of sustainable growth.
There are two pillars to our Earth Food Challenge 2030 environmental strategy. One is to address climate change issues, and the other is the effective use of resources. In addressing climate change issues, we have set the greenhouse gas reduction targets mentioned below. They have been certified by the Science Based Targets initiative.
Greenhouse gas reduction targets by fiscal 2031 (from the fiscal 2019 level)
Scopes 1 & 2: 30% reduction
Scope 3: 15% reduction
To effectively use resources, we have set the following targets.
Targets by fiscal 2031
- Percent of procured palm oil that is sustainable: 100%
- Consumption of water resources: 12.3 m3 per million yen of sales on an IFRS basis
- Percent of waste from production processes in Japan that is recycled: 99.5%
- Reduce total waste from sales and distribution processes in Japan by 50% (from the fiscal 2016 level)
In April 2020, we established the Sustainability Committee. Chaired by the President, Representative Director and CEO, it is part of the system for our efforts to reduce the environmental and social impact of our business activities in an effort to build a sustainable environment and a sustainable society. We also established working groups on the environment, human rights, corporate communications and employee training, ESG issue analysis and other topics to push forward actions inside and outside the company. In addition, in April 2021, we established the Sustainability Advisory Board to advise the Board of Directors. Mainly composed of outside experts, it collects information on global trends related to sustainability and reviews the achievement of activities.
We engage in activities to raise employee awareness of sustainability. They specifically include the distribution of messages from the CEO, regular dissemination of information about environmental and social issues and the SDGs through the Group's in-house newsletter and internal awards honoring employees and organizations for activities that help resolve environmental and social issues. We also conduct an opinion survey of employees every year to monitor improvements in their views on our environmental considerations and our contributions to society.