Environmental Strategy

Addressing Nippon Paint Group’s most material sustainability impacts is a key imperative and priority for the organization to ensure Maximization of Shareholder Value (MSV). Within the sustainability aspect of the environment, the identified priority material impacts for the business are climate change and resources and environment, especially waste and water.

Our approach to achieving MSV

During 2023, each Partner Company Group (PCG: PC group by region/business) continued to make further progress on their individual ambitions, targets, and priorities within each of these material impact areas. This has continued to be supported by the global Environment & Safety Team comprising senior environment and safety leaders from each PCG, with a primary focus on benchmarking, sharing best practice, and establishing common performance metrics. Implementation of these metrics across all PCGs continued during the year, including additional businesses calculating their Scope 3 carbon footprints, and once these metrics are fully established they will provide improved understanding and oversight of climate and circularity impacts and performance. This includes carbon footprints, renewable energy and resources, waste recoveries, and high stress water consumption.
Supporting and enabling improved management and understanding of the impacts, risks, and opportunities for both Climate Change and Resources and Environment, will continue to be the primary focus of the Sustainability Team in the coming year, including reviewing best practice approaches for carbon and climate adaptation.