We disclose information in accordance with TCFD* recommendations. We will proactively disclose information to stakeholders by accurately identifying risks and opportunities of climate change in our business through our information disclosure framework.
| 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 | ||
| Risk management |
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 | ||
| Metrics and Targets |
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, companies have been required to respond further to climate change, which may pose both risks and opportunities to our company.
Therefore, in order to stimulate internal discussions on how we can make our business low-carbon, we introduce “internal carbon pricing” on a trial basis for investments in new projects. We are going to evaluate our investments using the economic impact of carbon dioxide (CO2) emissions as a reference.