skip main navigation

Message from CEO

We identified materialities
with stakeholder expectations in mind

Now, we have newly identified materialities. While we have always retained the concept of "materiality," we followed a process with stakeholder expectations in mind when we identified materialities this time, using methods such as extracting issues from standards such as the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines, conducting a questionnaire of employees, interviewing investors, holding dialogues with experts and having active discussions at meetings of the Board of Directors. The materialities we identified this time are not greatly different from what we have always recognized, but they are issues that can be shared not only within the company, but also with the Group's stakeholders and with broader society.

  1. Materialities related to the environment

    As an energy business operator, we recognize that responding to climate change is naturally the highest priority issue we must address. In May, 2021, the Cosmo Energy Group announced the Carbon Net Zero Declaration to reduce greenhouse gases (GHG) emitted from the Group's businesses to effectively zero (GHG Scope: Scope 1 and Scope 2). Our initiatives for carbon net zero will be a tremendous challenge. To best tackle this challenge, the Group is currently preparing milestones based on the scenario analysis of the Task Force on Climate-related Financial Disclosures (TCFD). In the next consolidated medium-term management plan starting from FY2023, we will materialize the milestones in a form that integrates financial and non-financial targets designed to achieve carbon net zero.

  2. Materialities related to society

    We are addressing diversity and equal opportunity as priority issues. We appointed Ms. Yasuko Takayama and Ms. Ryuko Inoue as independent outside directors in FY2019 and FY2021, respectively. Now, the ratio of female directors is 20%, which helps significantly vitalize and diversify discussions at the Board of Directors meetings, and we are confident in our progress in advancing diversity. We are still working on this issues, and aim to accelerate our initiatives. We will also continue workstyle reforms, including telework. Regarding our initiatives in human rights, we provided training for senior executives as well as new employees and corporate ethics training at each office to ensure that we operate in a way that respects basic human rights and neither commit nor have a hand in any violation of human rights. We will continue to strengthen our efforts to protect and respect the human rights of all individuals, using e-learning and other methods.

  3. Materialities related to governance

    Safe operation and stable supply are materialities which the Group always prioritizes. March 2021 marked the 10th anniversary of the Great East Japan Earthquake. The Group has been working to improve safety with the determination to never again cause a serious accident like the one that occurred at Chiba Refinery. We have been developing a system by actively investing in safety, including the introduction of an operation management system (OMS). As a result of our voluntary safety initiatives, Chiba Refinery was certified by the Ministry of Economy, Trade and Industry as the ninth Accredited Business (commonly known as a "Super Accredited Business") across the country in April 2021 in the "Super Accredited Businesses System under the High Pressure Gas Safety Act," being recognized as a factory with an excellent safety level. We will continue our efforts to further improve safety in both equipment and procedures, including further raising employee awareness.

    Materialities related to governance
End of main content

Copyright© COSMO ENERGY HOLDINGS Co.,Ltd. All Rights Reserved