Governance Governance of organizations affecting risks and opportunities posed by climate changeStrategy Actual and potential impact of risks and opportunities posed by climate change on our business, strategies, and financial planningRisks and opportunities in the transition scenarioRisks and opportunities assume a scenario wherein drastic policies/technological innovations continue to evolve in the transition to a zero-carbon society to keep the rise in temperature to less than 2°C by the end of this century.Risks and opportunities in the physical scenario Risks and opportunities assume a scenario wherein the average temperature will rise by about 4°C due to atmospheric green gas concentrations, resulting in more damaging natural disasters.As part of activities related to TOBISHIMA SX, we intend to strengthen corporate value by promoting social sustainability based on management that accounts for ESG and the SDGs. We believe it is essential to disclose information concerning our climate performance and activities and have formally agreed with the proposals submitted by the Task Force on Climate-Related Financial Disclosures (“TCFD(*)”).We will disclose information concerning our climate-related actions and performance in accordance with the information disclosure framework proposed by TCFD (governance, strategy, risk management, and metrics and targets). We will identify risks and opportunities related to climate changes based on the scenario analyses for the disclosure items proposed by TCFD and strengthen our governance and business areas to facilitate the transition to a decarbonized society.We have established a Risk Management Committee to identify issues that may have a significant impact on management or business activities, including climate change risks, and formulate and develop measures, and manage the progress of such measures”]. Matters discussed in the Committee are reported to the Board of Directors (4 times a year) via the Internal Control Committee, which is chaired by the President.● Composed of members drawn from across the company, the TCFD Working Group has analyzed the financial impact of climate changes on the Company.● We have identified matters likely to be affected by a future transition to a decarbonized society and matters projected to be affected by actual physical changes, including natural disasters likely to become more catastrophic due to average temperature rise, and assessed the potential financial impact as risks and opportunities.Risk Management CommitteeExecutive OfficerBoard of DirectorsManagement ConferenceInternal Control CommitteeCompliance CommitteeVarious business divisions/group companiesInformation Council31* TCFD: International framework established by the Financial Stability Board (FSB) in 2015 following a request from the G20 to consider how information concerning climate-related actions and performance should be disclosed and subsequent actions taken by financial institutions.InstructionReportThe financial consequences of the transition to a low carbon society are estimated to materialize as of 2030.The financial impact of intensifying natural disasters driven by climate change is still projected to remain limited.AuditReportInstructionReportDirection/supportReport/proposal[Analyses of risks and opportunities in the transition scenario]4°C Scenario: Standard Policy Scenario by IEA (STEPS)2°C Scenario: Sustainable Development Scenario by IEA (SDS)[Analyses of risks and opportunities in the physical scenario]4°C Scenario: RCP8.5 by IPCC2°C Scenario: RCP2.6 by IPCCUnder this scenario, given progress with the transition to a low carbon society, the actual additional financial impact is projected to be relatively limited as of 2030.Forecasts indicate the financial impact of intensifying natural disasters driven by climate change will become significant around 2050.SustainabilityMajor scenarios adopted to study the transition and physical risks and opportunities 20302050above preindustrial levelsTemperature rise kept to less than 2°Cabove preindustrial levelsTemperature rises about 4°C End of this centuryClimate Information Disclosure Based on TCFD Initiatives
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