In brief
Suntory Group says it has registered as an adopter of the Taskforce on Nature-related Financial Disclosures (TNFD) recommendations. The framework calls on organizations to assess how their businesses depend on and affect nature, identify related risks and opportunities, and report across governance, strategy, risk and impact management, and metrics and targets. Suntory says it joined the TNFD Forum in April 2022 and began a pilot disclosure of nature-related dependencies and impacts in September 2023. It plans to set future targets in line with the progress of its SBTN pilot, conduct further analysis, and incorporate measures into its strategy. The company says it aims to support a nature-positive society and continue sustainability work focused on biodiversity and a sustainable society.
Key takeaways
- Suntory Group registered as an adopter of the TNFD recommendations.
- The group says it began pilot disclosure of its nature-related dependencies and impacts in September 2023.
- Suntory plans further risk and opportunity analysis and future targets linked to progress of its SBTN pilot.
Tokyo, JAPAN, December 26, 2023 -- Endorsing to the TNFD*2 Recommendation, Suntory Group announced today that it has registered as a “TNFD Adopter*1”.
After being conceived at the 2019 World Economic Forum Annual Meeting, the TNFD was officially established in June 2021 with a mission to develop and deliver a risk management and disclosure framework for organizations to report and act on evolving nature-related risks, and an ultimate aim of supporting a shift in global financial flows away from nature-negative outcomes and toward nature-positive outcomes. Specifically, requirements include conducting an analysis of risks and opportunities after assessing dependence and impacts on nature-related businesses, and disclose them in terms of "Governance," "Strategy," "Risk and impact management," and "Metrics and targets”.
*1 Organizations (report preparers) who intend to start making disclosures aligned with the TNFD Recommendations in their corporate reporting. Those who register by January 10th will be announced as “TNFD Early Adopters” at the World Economic Forum Annual Meeting in Davos, Switzerland. The TNFD will publish a list of TNFD Adopters on its website and track market progress of the adoption of the TNFD Recommendations and use of TNFD additional guidance in Annual Status Reports from 2024 onwards.
*2 Taskforce on Nature-related Financial Disclosures
Suntory Group participated in the TNFD Forum in April 2022, and started pilot disclosure of its dependence on and impact on nature-related businesses based on TNFD recommendations this September. The group will set future targets based on the progress of the SBTN pilot operation, further analyze risks and opportunities, and reflect specific measures in our strategy, aiming to realize a "Nature Positive" society consistent with the global standards based on science.
As a corporation sustained by the gifts of nature and water, the group will continue to promote sustainability management in order to preserve biodiversity and to realize a sustainable society. Through all of its corporate pursuits, Suntory Group seeks to inspire the brilliance of life.
Learn more about Suntory Group’s environmental activities here.
About Suntory Group
As a global leader in the beverage industry, Suntory Group offers a uniquely diverse portfolio of products, from premium spirits, beer, wine, ready-to-drink alcohol beverages, to brewed teas, bottled water, still and carbonated soft drinks, ready-to-drink coffee and energy drinks, along with health and wellness products. Suntory is home to award-winning Japanese whiskies Yamazaki, Hibiki and Hakushu, as well as iconic American spirits Jim Beam and Maker's Mark. Suntory also fascinates the taste buds with The Premium Malt's beer, and owns the exceptional Japanese wine, Tomi, and the world-famous Château Lagrange. Its brand collection includes Sauza Tequila, non-alcoholic favorites Orangina, Lucozade, Ribena, BOSS coffee, Iyemon green tea, Suntory Tennensui water, TEA+ Oolong Tea, V and BRAND’S, as well as popular health and wellness product Sesamin EX.
Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group has grown into a global company operating throughout the Americas, Europe, Africa, Asia and Oceania, with an annual revenue (excluding excise taxes) of $20.2 billion in 2022. Its 40,885 employees worldwide draw upon the unique blend of Japanese artisanship and global tastes to explore new product categories and markets.
As a corporation sustained by the gifts of nature and water, Suntory Group will always protect the ecosystems that deliver water. Because its ecosystem is the wellspring, not only of its business and the rich experiences the group creates for people's lives, but also of human life itself. Suntory Group will continue to be a company where everyone is empowered with the freedom and flexibility to innovate. Through all of its corporate pursuits, Suntory seeks to inspire the brilliance of life.
Learn more about Suntory Group, its brands, and its commitment to social responsibility and sustainability at www.suntory.com, on Facebook, Twitter, Instagram, LinkedIn, and YouTube.
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Questions around this news
What does it mean to register as a TNFD Adopter?
The release describes a TNFD Adopter as an organization that intends to begin making corporate disclosures aligned with the TNFD Recommendations. It says the taskforce will publish a list of adopters and track adoption and use of additional guidance in annual status reports starting in 2024.
What nature-related work does Suntory Group say it will pursue?
The release says the group has begun pilot disclosure of its dependencies and impacts on nature-related business activities. It plans to set future targets based on progress in its SBTN pilot, conduct further analysis of risks and opportunities, and incorporate specific measures into its strategy, with the stated aim of supporting a nature-positive society.
What is a nature-related financial disclosure framework?
It is a set of recommendations or requirements for organizations to report how their activities depend on or affect nature, and how nature-related changes may create risks or opportunities for them. Such disclosures can help investors and other stakeholders understand an organization’s exposure and responses, and compare information across reporting organizations.
