Toyota NZ Recommits to Carbon Reduction Targets

In its just released 2024 Sustainability Report, Toyota New Zealand has recommitted to carbon reduction targets across its entire business.

The company has set a 2030 target of a 46 percent reduction of emissions based on a 2019 benchmark year. Ultimately, the aim is net carbon zero by 2050. That’s in line with the New Zealand Government’s commitment to the Paris Agreement.

Toyota NZ Acting Chief Executive Tatsuya Ishikawa says “We have set ourselves an ambitious CO2 reduction target, one that forces change on us. But we also acknowledge there will be challenges along the way.”

Two years into its decarbonisation plan Toyota NZ reports that operational emissions are on track to meet the end of the decade target. Initiatives to use more renewable energy and install solar panels at its retail outlets is also paying dividends.

However, reducing the tailpipe emissions from the vehicles it sells is more challenging. At this stage, Toyota is forecasting a 37 per cent reduction in tailpipe emissions by 2030. That is a nine per cent shortfall of its target. The target for the end of this decade is based a sales mix of hybrid and zero-emitting vehicles.

“Meeting the 46 percent target will depend on a range of factors, many of which are outside of our control.

“But we are not changing our target. We will continue to electrify our portfolio and have passed the halfway point. Fifty-five percent of Toyota new vehicle sales are now electrified… We are targeting 85 percent by 2027 and 90 percent by 2030,” Ishikawa says.

The long-term success of the decarbonisation plan is largely dependent on customer acceptance of battery and zero-emission vehicles, charging station roll out and technology developments such as longer-range batteries.

Toyota NZ is also pursuing other zero carbon initiatives with its investment in the hydrogen economy. It has imported hydrogen powered electricity generators and continues to grow its hydrogen fuel cell Toyota Mirai car-sharing programme in Auckland.

kawa says “When we think of sustainability, we consider environmental care, societal impact, and, importantly, long term economic prosperity. The need to strike the right balance between all these impact areas is at the core of our business.”

Toyota’s vision is to evolve into a mobility company, benefiting society and future generations through collaboration and diversification.

“We are ensuring that sustainability is accessible and practical for a wide audience.”

The 2024 Toyota NZ Sustainability Report is available now on the Toyota NZ website.