Human Rights

To contribute to the achievement of a society that enriches people’s lives and enables people of diverse backgrounds to engage in active, meaningful work (two of TOYO’s materialities) we recognize respect for the human rights of all people affected by our global business activities—including the activities of our group companies—as the foundation of our operations. Based on this belief, we will promote further initiatives aimed at respecting human rights, and—to fulfill our responsibilities in this regard—we have established Human Rights Basic Policy based on TOYO’s Code of Conduct and our Sustainability Basic Policy. Based on our Human Rights Basic Policy, TOYO respects human rights as they are defined in the International Bill of Human Rights¹) and the International Labour Organization’s (ILO’s) Declaration on Fundamental Principles and Rights at Work²), we endorse the Ten Principles of the UN Global Compact³), and we promote initiatives aimed at respecting human rights in line with the UN Guiding Principles on Business and Human Rights.

1. International Bill of Human Rights is the collective name of documents adopted by the UN, including the Universal Declaration of Human Rights, International Covenant on Economic, Social and Cultural Rights, and International Covenant on Civil and Political Rights.
2. This declaration establishes ten conventions as core labor standards in five areas: freedom of association and the effective recognition of the right to collective bargaining, the elimination of all forms of forced or compulsory labor, the effective abolition of child labor, the elimination of discrimination in respect of employment and occupation, and a safe and healthy working environment.
3. The UN Global Compact is a global framework for achieving sustainable growth that was established by the UN in cooperation with private companies and organizations, and it establishes ten principles to be followed by companies in four areas: human rights, labor, environment, and anti-corruption.

To steadily promote initiatives aimed at respecting human rights, TOYO has established a Human Rights Subcommittee under the Sustainability Committee—which is an advisory board to the Executive Committee and is chaired by the Chief Compliance Officer—and we cooperate with our group companies to promote initiatives aimed at respecting human rights based on our global system.

TOYO implements human rights due diligence to identify and assess the negative effects of our business activities on human rights and then prevent or reduce such effects. In particular, we have identified the five items below as high-priority human rights issues and are taking action accordingly.

Note) The above five items are established based on international standards, such as the principles of the UN Global Compact (UNGC) and the five areas covered by the International Labour Organization’s (ILO’s) core labor standards, and we also referred to industry-specific human rights risks (including UNEP FI and other international indicators and tools as well as examples of other companies in the industry) to identify human rights issues that TOYO should prioritize based on their level of severity and likelihood of occurrence.

To handle all the human rights risks related to TOYO’s global business activities, we have established complaint handling services at each TOYO Group company, we strive to suitably and sincerely respond to reports, and—if it becomes clear that we have somehow caused, promoted, or been directly related to a negative effect on human rights—we endeavor to rectify the situation and provide relief through suitable procedures. In addition, we utilize outside experts specialized in human rights risks, and we engage in sincere dialogues and discussions with anyone who is negatively affected as well as other relevant stakeholders.

At TOYO, we apply our Human Rights Basic Policy to all Group executives and employees, we approach all of the suppliers, affiliates, and other business partners in our supply chain to ensure that they support this policy, and we cooperate with them as we strive to ensure respect for human rights.

For this reason, TOYO have established the “Transaction Basic Policy” and require all the business partners to respect human rights by complying with international rules and applicable laws and regulations. We also ask them for the understanding of the elimination of any discrimination, the maintenance of safe and comfortable work environment, and the focus on environmental consciousness. We will jointly work on the achievement of “Enrich people’s lives” and “People of diverse backgrounds engage in active, meaningful work” in our materiality.