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).
＜Kuraray Group PSA system＞
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. We began screening using the Kuraray PSA system in 2021 and completed assessments of products representing 80% of sales, against a target of 70% in 2023.
In addition, we designate products with high PSA scores as the Kuraray Group products that contribute to the natural and living environments. Under “PASSION 2026,” we aim to increase the sales ratio of such products Group-wide from 46% in 2020 to 55% by 2024 and 60% by 2026. In 2023, the net revenue ratio of these products was 56%, meeting the target set for 2024 under “PASSION 2026” ahead of schedule. To pursue further expansion of this ratio, we have raised the target to 57%.
