Climate-related Financial Information Disclosure（TCFD）
Governance
Organizational Governance of Climate-related Risks and Opportunities
In 2008, Konica Minolta approved the goal of reducing CO2 emissions across the entire lifecycle of its products by 80% compared to fiscal 2005 by the Board of Directors. In 2017, the Company added a Carbon Minus target as part of its commitment to contributing, working with business partners, customers and other stakeholders, to contribute to emission reductions for customers and the broader society greater than the emissions directly related to the Company’s products and operations. Anticipating the creation of a sustainable society in 2030, 10 years from now, Konica Minolta formulated its long-term management vision by a resolution of the board of directors in 2020 and identified the material issues (including “addressing climate change”) that Konica Minolta must confront. As part of its new medium-term business strategy, in May 2023, the board of directors approved a new target of achieving “carbon minus” by 2025 and net zero greenhouse gas emissions across the entire value chain by 2050.
At Konica Minolta, the president has the ultimate responsibility for and authority over climate change issues and is responsible for the effectiveness of environmental management, including climate change. The officers in charge of the environment assigned by the president (Group environmental officers) pursue environmental management and prepare medium-term plans, while the progress of these activities is routinely reported to the Executive Committee and the Board of Directors where they are discussed as management issues. In the process of formulating the medium-term plan, materiality is also subject to ongoing review of the degree of change in risk led by Group environmental officers and evaluations and specific revisions are made as needed. This is then discussed and approved by the management council and other meeting bodies and approved by the Board of Directors.
In addition, to increase the incentives for executive officers to achieve the medium-term CO2 targets, we have set the “CO2 emissions reduction rate” as a non-financial indicator among the evaluation indicators that make up the medium-term stock bonus (performance-linked).
The Group’s environmental officers report every month to the president, chairman of the Board of Directors and the Audit Committee set up by the president on issues including progress made with environmental management and climate change issues. The Audit Committee routinely monitors and reviews the status of the overall implementation of environmental management led by the president.
At the Audit Committee meeting held in November 2022, we reported on the development and operation of the system for promoting sustainability management, including "Addressing Climate Change." The Company is pursuing the medium-term targets and annual plan related to climate change under the supervision of the Board of Directors.
Please refer to “Corporate Governance“ for more details on the governance structure.
For details on the evaluation and identification process for material issues, see Here.
