When internationalization is soaring high, UN has come up with a Global Compact to align the core principles of human rights and environmental sustainability to that of business practices. In this report, we seek to analyze how a multinational auto giant- Toyota, has contributed…
gement mechanism- in order to allow every signatory to translate the mission of the UNGC, it has set goals at both international and local levels to diffuse through all layers of businesses and society.
Since inception, Toyota has zeroed in on sustainable development and eco-friendly technology by providing innovative and quality automobiles to the society that are more fuel efficient (Appendix 1) (Toyota n.d). To elaborate further, we have categorized the business practices at Toyota into sections that detail about how it strives to keep pace with international treaties and regulations.
Corporate Social Responsibility- Economic development should be shared with environment protection, this is the core element of Toyota and as such, it has incorporated biodiversity guidelines in its Charter and Code of Conduct. TMC has drafted a Corporate Social Responsibility policy that fits well to the guiding principles of the Global Compact. The environment plan in the CSR policy includes manufacturing competencies and designing with recycling capabilities.
Supply Chain Regulations- In order to abide by the environmental regulations, TMC checks the labor conditions, local and community situations and the environment on whole before establishing alliance with any of the suppliers. The suppliers are even monitored and trained to determine whether they abide by the guiding principles of Toyota.
Raw Materials- Toyota abides by the REACH Regulation (Registration, Evaluation, Authorization and Restriction of Chemical Substances) of the European Parliament that directs the suppliers to consider the safety of SVHC (Substances of Very High Concern) in their supply chains. As such, Toyota adheres to the current REACH regulations and has designed its supply chain with an environment perspective where most of its raw materials are recyclable.
Recycling- As discussed above, Toyota maintains an Automotive Shredder Residue (ASR) recycling plant with a recovery rate of 80% (Steinweg ...
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(“Report of Toyota Lab Example | Topics and Well Written Essays - 750 words”, n.d.)
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(Report of Toyota Lab Example | Topics and Well Written Essays - 750 Words)
“Report of Toyota Lab Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.net/miscellaneous/406082-report-of-toyota.
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