On February 14, 2020, we declared support for recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) and became a TCFD signatory.
We disclose information in accordance with TCFD recommendations. Using our robust information disclosure framework, we will proactively disclose information to stakeholders, accurately identifying risks and opportunities arising from climate change in connection with our business.
|Area||TCFD recommendations||Idemitsu’s disclosure|
|Governance||1. Describe the board’s oversight of climate-related risks and opportunities|
|2. Describe management’s role in assessing and managing climate-related risks and opportunities|
|Strategy||1. Describe the climate-related risks and opportunities the organization has identified over the short, medium, and long term|
|2. Describe the impact of climate-related risks and opportunities on the organization's businesses, strategy, and financial planning|
|3. Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario|
|1. Describe the organization’s processes for identifying and assessing climate-related risks|
|2. Describe the organization’s processes for managing climate-related risks|
|3. Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management|
|1. Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process|
|2. Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 GHG (greenhouse gas) emissions, and the related risks|
|3. Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets|
In recent years, businesses have increasingly been called on to step up their response to climate change. We expect this trend will put our company in a position where we face both risks and opportunities. With this in mind, we are nurturing active internal discussion on how to decarbonize our businesses. To this end, we have established internal carbon pricing of investments related to new projects and decided to carry out trial-basis investment studies that reference the economic impact of carbon dioxide (CO2) emissions.