・ Responsible for overall risk management・ Evaluate risks, including those not related to climate change and discuss and management methods, policies, and coping measures・ Identify and assess climate change-related risks and opportunities・ Monitor the progress of initiatives on priority issuesSuperviseReportThe Sustainability Council consists of the CEO as well as the executive directors of the Company and its subsidiaries and is chaired by the CEO. Assessments of climate change-related risks and opportunities discussed at Sustainability Council meetings, as well as the progress of related goals and initiatives, are reported to and debated by the Executive Committee as part of group-wide risk management. They are also reported to the Board of Directors on a semi-annual basis, enabling effective board oversight.Based on these reports, the Board of Directors develops group-wide strategies and incorporates them into the medium-term business plan, risk management policies, and business strategies.Disclosure based on TCFD RecommendationsThrough our business activities, we confront the issues that must be dealt with to realize a sustainable society, aiming to achieve the kind of sustainable development that grows along with the global environment and society. As part of these efforts, in June 2023, we agreed to the TCFD recommendations, which established the framework for international climate change disclosure, and declared our intention to join the TCFD Consortium. Based on this recommendation and in recognition of climate change’s impacts on our business activities as a company, we are committed to promoting efforts to achieve a decarbonized society, and to improving our disclosure practices in line with the TCFD recommendations.GovernanceUnder the supervision of Board of Directors, we carry out group-wide risk management at the Executive Committee meetings, which are chaired by the Representative Director, President and CEO (hereinafter “CEO”) and comprise the CEO and executive directors. For the identification and assessment of climate change-related risks and opportunities, authority is delegated to the Sustainability Council.Risk managementWe define risk as any hazard that could result in economic loss, business interruption or suspension, or loss of credibility or brand image, and we have implemented a risk management system to mitigate and avoid risk.StrategyWith regard to the impact of climate change on the Group’s business, we recognize that risk response (avoidance, reduction, transfer, and retention) and opportunity capitalization are critical management issues. As a result, we have broadly considered the short-, medium-, and long-term impacts of climate change and identified material risks and opportunities.59TimelinePeriodcoveredShort term0–3 yearsMedium 3–10 yearsterm(including 2030)Longterm10–30 years(including 2050)Approach to assumed developmentsalong the timelineOrganize items that are already evident, such as current initiatives and areas where sales are increasing, as short-term issues.Organize items that are not occurring right now but have a very high likelihood of occurring by 2030, such as a carbon tax, as medium-term issues.With a focus on the physical risks of disasters, organize items anticipated to have a significant impact after the 2030s as long-term issues.Develops group-wide strategies, and incorporates into the medium-term business plan, risk management policies, and business strategiesReports once every six months on the results of considering climate change-related risks and opportunities and the progress of initiativesAt Sustainability Council meetings, each member reports on climate change issues based on the environment surrounding the Group, and a wide range of climate change-related risks are identified. These identified risks are then evaluated on two axes: the likelihood of occurrence and impact on the Group in the event of an actual occurrence, and the risk level of each risk is determined. Significant risks are reported to the Executive Committee and the Board of Directors.For risks related to climate change that are considered material, the Sustainability Council sets targets, manages progress, and reports to the Board on a semi-annual basis. This provides a mechanism for regular monitoring of risks and helps ensure that the progress of measures is assessed, and material risks are re-identified.Chair: President and CEOReport the results of considering climate change-related risks and opportunitiesExecutive CommitteeChair: President and CEOSustainability ConferenceBoard of DirectorsReportResponse to TCFD Recommendations
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