TOKYO — November 14, 2023 — YKK Corp. has released “This is YKK 2023,” a comprehensive report that combines financial and non-financial insights, offering a holistic view of YKK’s management and business endeavors guided by the Cycle of Goodness® corporate philosophy as well as the company’s sustainability initiatives.
This year’s report, available on the company’s website at https://www.ykk.com/english/corporate/csr/eco/report/index.html, shares the company’s progress in addressing five sustainability themes: climate change, material resources, water resources, chemical management, and respect for people. These efforts are aimed at realizing ten Sustainability Development Goals (SDGs) in line with the targets set forth in the YKK Sustainability Vision 2050, which aims to achieve carbon neutrality by 2050.
Additionally, YKK has compiled a separate Data Book that provides detailed data on the company’s environmental, social, and governance efforts, as well as its finances. In 2019, YKK declared its support for the Task Force on Climate-Related Financial Disclosures (TCFD) and has been disclosing information according to the core elements of governance, strategy, risk management, and targets and metrics elements advocated by the TCFD framework.
“The Cycle of Goodness places sustainability at the center of our management approach, with the primary objective of meeting the needs of our customers and local communities,” said Hiroaki Otani, president of YKK Corp. “Our company’s purpose is to be a socially responsible organization that not only benefits the natural environment but also contributes to the well-being of society, fostering shared prosperity. We are committed to practicing the Cycle of Goodness in order to fulfill the needs of our customers and communities while playing a vital role in building a sustainable society.”
Results of FY2022 Progress Toward Achieving the Goals of the YKK Sustainability Vision 2050
- 46.9-percent reduction in Scope 1 and 2 GHG emissions and 20.9-percent reduction in Scope 3 GHG emissions (from a FY2018 baseline)
- 31 locations worldwide operating on purchased power derived from 100-percent renewable energy (increase of 20 locations, year-on-year)
- 26 percent of textiles in fastening products use recycled, plant-derived, and other sustainable materials (up 14 points year-on-year)
- 27.6 percent of packaging materials transitioned to sustainable packaging alternatives
- Landfill waste reduced by 525-tons year-on-year
- Waste resource conversion rate increased to 87.3 percent (up 0.3 points year-on-year)
- Target year to reach a 90 percent waste resource conversion rate moved up from 2030 to 2025
- 1,338,000-ton water intake reduction compared to FY2018 baseline (10,086,000-ton water intake in FY2022)
- Cooperation with Zero Discharge of Hazardous Chemicals (ZDHC) certification and testing programs approved to form guidelines for ZDHC-compliant zippers and buttons
- Annual revision to the YKK standards (known as YKK RSL1) to include AFIRM2 RSL based on customer requirements and to incorporate guidelines for compliance with Perfluoroalkyl and Polyfluoroalkyl Substances (PFAS) regulations
- The adoption of ZDHC MRSL3 approved for chemical management in manufacturing processes
- Restricted substance management incorporated into the development flow when developing new products or changing materials
- Annual renewal of the OEKO-TEX® STANDARD 100 certification for YKK fastening products
- Expansion of products produced using YKK’s new AcroPlating® technology4
Respect for People
- Implemented YKK Global Criteria of Compliance self-checks and audits at all applicable locations
- Reviewed and revised the items and scope of YKK Global Criteria of Compliance
- Revised the YKK Group Human Rights Policy
Major topics covered in This is YKK 2023
- The Cycle of Goodness and Sustainability
- President’s Message
- Executive Dialogues
- Cycle of Goodness and Value Creation
- Sixth Mid-term Business Policy and Business Strategy
- Results of FY2022 Progress Toward Achieving the Goals of the YKK Sustainability Vision 2050, FY2023 Planned Initiatives
- Management Principles Promotion
- Financial and Non-Financial Highlights
1 Restricted Substances List
2 Apparel and Footwear International RSL Management Group
3 Manufacturing Restricted Substances List
4 A new plating technology for brass that eliminates 100% of hazardous substances such as cyanide, chromium, and selenium.
Posted: November 14, 2023
Source: YKK Corp.