In September 2021, we declared its support for the TCFD recommendations. In the same month, we announced our participation in the TCFD Consortium, an organization of companies that support TCFD recommendations. As part of our initiatives to address climate change, we have begun to develop strategies conducting analyses based on 1.5/2℃ scenarios and 4℃ scenarios focusing on our high-impact manufacturing business, identifying transition risks, physical risks, and opportunities for each scenario and evaluate impact upon our business.
Going forward, we will establish a risk management process for identifying, assessing, and reducing the risks of climate change, quantify the assessment of risks and opportunities, and develop a mechanism for evaluating progress, which will be disclosed sequentially.
We will continue to enhance information disclosure related to climate change in line with the TCFD framework and contribute to the development of a sustainable society by taking measures responding to climate change, such as global warming through our business activities.
The Board of Directors regularly discusses the Company’s measures to address climate change.In October 2021, the Sustainability Committee was established, chaired by the Representative Director and Chairman, the Representative Director and President as Vice-Chairman. The committee formulates the basic sustainability policy of the Company, verifies the management plans and policies, promotes initiatives to address social issues, and reports and makes recommendations to the Board of Directors. Under the supervision of the Board of Directors, the Sustainability Committee will set targets, monitor, evaluate progress, and continue to work on measures to address climate change in cooperation with the Group's executive organizations, such as Business Divisions, Business Companies, and Platforms.