Toyota Motor Corp. is the world’s largest automaker and has long lobbied against climate-friendly policies. Yet new Greenpeace East Asia research shows that 93% of Toyota’s manufacturing facilities are at high risk from the consequences of climate change.
This sobering conclusion is based on analysis of data from Moody’s ESG Solutions Database on Physical Risks. The Greenpeace analysis finds that 93% of Toyota’s manufacturing facilities are considered as ‘high risk’ or ‘red flag’ for at least one climate hazard. The top three threats identified are heat, water stress, and hurricanes/typhoons, with 57%, 38%, and 28% of Toyota’s facilities listed as ‘high risk’ or above, respectively, according to the Moody’s ESG Solutions database.
Toyota is hardly alone. According to Greenpeace’s analysis, almost half of global automakers (44%) face a high level of physical risk from climate change. But the scale of what Moody’s ESG Solutions called “operations risk” for Toyota – calculated based on a facility’s projected risk to six climate hazards (accounting for 95% of score) and its “socioeconomic risk” (accounting for 5% of score) – was the highest among the world’s largest automakers, according to Greenpeace’s findings.
View the full report here.