Toyota Motor Corporation has been focusing on sustainability due to effective due diligence and better investment decision for the company as well as relevant stakeholders. The company has agendas for addressing its update for progress in sustainability for which it aligns its operation and reporting to United Nations’ Sustainable Development Goals (UNSDGs). To achieve net zero emissions, the firm focuses on electrification strategy, managing product lifecycle by optimizing value chain, and creating infrastructure for mobility. The company also focuses on product innovation to reduce negative impact on the climate.
Toyota Motor Corporation has been focusing on several trends in ESG especially in innovative space starting off with Shared and mobility services, during the pandemic, the growth of the sharing economy slowed as people moved around less or preferred private or personal transport. But the overall shift from ownership to user ship continues, and many customers are looking for affordable mobility alternatives. Connected automated vehicles are the next step which provides seamless experience and are designed to make roads safer for all. Toyota Australia is embracing the digital experience for customers, including by introducing always-available service and sales booking systems and other online services which can promote the achievement of UNSDG 13, climate action.
Electrification, Electric vehicles are not only a lower carbon mobility solution; they can also act as an alternative energy source during times of peak demand. Toyota Australia has a number of strategic partnerships in place to advance development of the infrastructure needed. While we work towards an electrified future, we believe that hybrid vehicles are currently the most accessible low-emissions option for many customers.
The company reports its progress in achieving UNSDG’s, as they have been working towards achieving net carbon zero with electrification strategy, moving towards setting science-based emission targets and using them to inform vehicle development, sales targets and operations. The company is also carrying out research and creating partnerships to develop a hydrogen future as well as Using marketing and advocacy (for example with the Federal Chamber of Automotive Industries (FCAI)) to accelerate de-carbonization. Creating infrastructure for mobility as there is a transition to a mobility company, they have been forming public and private partnerships to design sustainable transport systems. Developing shared mobility solutions and Advocating for, and supporting, stronger fuel standards.
In 2021 the Toyota Motor Corporation has generated an amount of USD 245 billion. Company envisions various aspects including sustainability as one of the main agenda, with promising innovation and product development side supporting sustainability, company have a favorable future ahead.
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