Dealing with Climate Change
Approaches to Climate Change
Climate change has various effects on people's lives and
corporate activities, including the natural environment such as
ecosystems, and there is concern that its effects will
intensify.
Under these circumstances, we recognize that dealing with
climate change is an important issue that we should tackle. We
believe that we need to take action in light of both “the impact
of our business activities on climate change” and “the impact of
climate change on our company.”
We will promote efforts to
reduce greenhouse gas emissions in our business activities and
create a carbon-neutral economy through our business, and will
actively work to minimize the risks of climate change.
Governance Structure
We have established the Sustainability Promotion Committee,
which is chaired by the President and Representative Director
and is composed of members selected from the Management Division
and the Sales Division. Under the direction and oversight of the
Board of Directors, the committee considers matters related to
climate change, plans countermeasures, and the Board of
Directors discusses and decides on the measures.
In addition, management team will verify the assessment
results and control status of risks and opportunities related to
climate change (submitted to the Board of Directors and the
Management Committee by the Sustainability Promotion Committee),
and will dictate improvements or reviews of business plans as
necessary. The status of committee activities is reported to the
Board of Directors at least twice a year through the chairman.
Strategy
Our businesses are diverse, and the risks and opportunities
posed by climate change vary from business to business, so we
set the basic timeline to 2030. We are proceeding with scenario
analysis in line with TCFD recommendations, starting with
businesses that are considered to be relatively likely to be
affected by climate change.
Click
here
for details on scenario analysis.
For scenario analysis
[Scenario selection]
In order to objectively evaluate changes in the business
environment, we conducted analyses mainly with reference to
scenarios published in the IEA (International Energy Agency)
World Energy Outlook 2021 and Net Zero by 2050 and the IPCC
(Intergovernmental Panel on Climate Change) Fifth Assessment
Report and Global Warming of 1.5ºC special report.
Risk Management
Under the direction and oversight of the Board of Directors, the Sustainability Promotion Committee takes the lead in collecting, identifying, and evaluating information on risks related to climate change, and reports to the Board of Directors and manages the risks. In addition, the management team also manages the risks associated with climate change by formulating business plans and making investment decisions in consideration of the identified and evaluated risks, and incorporating risk mitigation measures as appropriate in daily business activities.
Indicators and Targets
To achieve carbon neutrality, which is one of our materiality issues for sustainability, we have established the following mid- to long-term reduction targets using Greenhouse Gas (GHG) emissions as an indicator.
Medium- to long-term GHG emissions reduction targets
- FY2030 Domestic Scope 1+2 34% reduction (compared to FY2021)
- FY2050 Carbon neutrality
Climate Change Initiative
Support for TCFD recommendations
We have expressed our support for the TCFD recommendations.
* TCFD refers to the Task Force on Climate-related Financial Disclosures established by the Financial Stability Board (FSB) at the request of the G20 in order to study how to disclose climate-related information and deal with financial institutions.
Support for the GX league basic concept
We support the "GX League Basic Concept" announced by the Ministry of Economy, Trade and Industry.
* The GX League was established as a place where "corporations" that actively work on GX (Green Transformation) collaborate with the government and academia.
