Information Disclosure Based on TCFD Recommendations

Information Disclosure Based on TCFD Recommendations

In June 2018, the Hitachi High-Tech Group declared that it supported the recommendations by the Task Force on Climate-related Financial Disclosures (TCFD)*. Based on TCFD’s framework, we will proceed with measures regarding the risks and opportunities that climate change brings to our business. We will disclose such information and contribute to create a sustainable environment in the world.

TCFD is the abbreviation for the Task Force on Climate-related Financial Disclosure. It is a task force established by the Financial Stability Board (FSB), whose members come from the central banks and financial authorities of major countries. To reduce instability risks in financial markets, TCFD recommends that corporations disclose information about the financial impacts of climate change from both risk and opportunity perspectives, specific responses, strategies, and other relevant matters.

Governance and Risk Management

The Sustainability Promotion Committee has the President and Representative Director as the Chair and senior management as its members. They meet more than twice a year. The committee formulates our company's sustainability strategy and discusses measures such as environmental strategy, including climate change risks. When important matters are put on the agenda, they report to the Board of Directors once a year. Feedback from the board is integrated into our sustainability promotion operations. The committee’s decisions are also discussed further in detail by the TCFD Subcommittee, which comes under the Sustainability Promotion Committee umbrella.
The following procedure is how our company manages climate change risks.

Strategy

As a member of the Hitachi Group, our group promotes initiatives for achieving the Environmental Vision and the long-term environmental targets in Hitachi Environmental Innovation 2050, such as achieving carbon neutrality at our business sites (factories and offices) by fiscal 2027, promoting emissions-reduction plans with procurement partners to reduce greenhouse gas emissions in the value chain, and advancing initiatives for greenhouse gas emissions-reduction in our products and services.
To achieve the emissions-reduction target, we are working on realizing carbon neutrality at our manufacturing and sales sites, providing products that contribute to reducing environmental burdens through the implementation of eco-design, and reducing greenhouse gas emissions in transportation. In addition, through collaborations with business partners and other efforts, we are promoting the services and solutions business that contributes to greenhouse gas emissions-reduction, aiming to become a company that is even more needed by our customers. At the Group, we will continue contributing to our customers and society through our core technologies in “Observation, Measurement, and Analysis”, working toward the accomplishment of Hitachi Environmental Innovation 2050.

Metrics and Targets

The Hitachi High-Tech Group sets its metrics and targets every three years and manage these by means of the Environmental Action Plan. This will eventually accomplish the Hitachi Environmental Vision and the long-term environmental targets in Hitachi Environmental Innovation 2050.