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CSR Disclosure based on TCFD
In June 2017, the Task Force on Climate-related Financial Disclosures (TCFD), established by the Financial Stability Board (FSB), announced recommendations for companies to understand and disclose the risks and opportunities posed by climate change.
The Fujitsu General Group has endorsed the TCFD in 2020 and shall disclose key information related to climate change in line with the TCFD recommendation.
List of disclosure items
Governance
In April 2021, through discussions with the Board of Directors, we formulated and announced our basic policy and core strategic themes of sustainable management. Important management issues are discussed at meetings of the Management Committee (generally held twice a month) consisted of Corporate Vice Presidents (Corporate First Senior Vice Presidents and above).
In addition, those issues are deliberated and decided on at the Board of Directors meetings held once a month or on an ad hoc basis when necessary.
Deliberations and decisions on business execution are made at the Corporate Executive Meeting consisted of all Corporate Vice Presidents generally held three times a month. In addition, we look for approval from the Board of Directors on particularly important matters.
We have established the "Sustainability Promotion Committee," chaired by the President & CEO, as a forum for finding crossorganizational solutions to issues related to Sustainable Management. We have also established the "Environmental Promotion Working Group" as a sub-organization of this committee that deliberates environmental issues specific to organizations.
Strategy
Impact and countermeasures of climate-related risks and opportunities in the air conditioner business of Fujitsu General Group
Regarding the business risks related to climate change, we examined the following two scenarios according to the TCFD classification: (1) "Risks related to the transition to a low-carbon economy" which will mainly occur in the course of the 2°C scenario, and (2) "Risks related to the physical impacts of climate change" which will occur when the 4°C scenario is reached due to the failure to reduce global CO2 emissions.
We also consider the business opportunities and compile strategic initiatives to prepare for risks and take advantage of opportunities.
Risk： the business impact and probability
Oppotunity
Risk Management
The Fujitsu General Group classifies various changes in the external environment associated with climate change into "transition risk" and "physical risk" as exemplified by the TCFD recommendations, and evaluates the financial impact and probability in three levels to identify significant risks and opportunities.
In addition, at the Group we strive to prevent and mitigate risks that could significantly impact our business by conducting risk assessments related to compliance, crisis management, human resources, labor, safety & health management, environment, IT security, and information management, amongst others. The process is overseen by the Compliance & Risk Management Committee.
Process for identification of climate-related risks and opportunities, consideration of actions, and the implementation management
Risk Management System
In order to promptly identify risks that may adversely affect the Fujitsu General Group, whether at home or overseas, and to implement countermeasures in a timely manner, risk assessments are conducted to confirm appropriateness of the risk evaluation and risk management of each division of the Company as well as for the Group companies. The Compliance & Risk Management Committee selects priority issues to be addressed while promoting activities to reduce risk.
The committee reports its annual activities to the Board of Directors.
Metrics and Targets
Medium- to Long-term Environmental Targets
The Fujitsu General Group has established a specific plan to implement climate change measures, which are the highest-priority action items according to the Group's environmental policy and the results of materiality analysis. The plan includes a medium-term target of reducing greenhouse gas emissions throughout the Group's entire value chain by 55% by FY2035 (compared to FY2021) and a long-term target of achieving carbon neutrality throughout the Group's entire value chain by FY2050.
All employees are expected to embrace our goals, contribute to the achievement of the Sustainable Development Goals (SDGs), and strive to reduce environmental impact while increasing our corporate value.
1. Long-term target: Achieve carbon neutrality throughout the Group's entire value chain (Scope 1, 2, and 3) by FY2050.
2. Medium-term target: Reduce greenhouse gas emissions throughout the Group's entire value chain (Scope 1, 2, and 3) by 55% by FY2035 (compared to FY2021).