Climate-related Financial Information Disclosure（TCFD）
Governance
Organizational Governance of Climate-related Risks and Opportunities
In 2008, Konica Minolta’s Board of Directors approved the goal of reducing CO2 emissions across the entire lifecycle of its products by 80% compared to fiscal 2005. In 2017, the Company added a Carbon Minus target as part of its commitment to working with business partners, customers, and other stakeholders to achieve emission reductions greater than those directly related to the Company’s products and operations.
Anticipating the creation of a sustainable society by 2030, Konica Minolta formulated its long-term management vision through a board resolution in 2020 and identified material issues, including “addressing climate change”, that it 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 status by 2025 and net zero greenhouse gas emissions across the entire value chain by 2050. Addressing climate change has been positioned as one of Konica Minolta’s sustainability management targets, with major target setting and adjustments requiring Board approval.
At Konica Minolta, the President and CEO holds ultimate responsibility and authority over climate change issues and is responsible for the effectiveness of environmental management, including climate change. The Group Environmental Officer, appointed by the President and CEO, manages environmental initiatives and prepares medium-term plans. Progress on these activities is regularly 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 subject to ongoing review of risk changes led by the Group Environmental Officer. Evaluations and specific revisions are made as needed, discussed and approved by the Management Council and other relevant bodies, and subsequently approved by the Board of Directors.
Additionally, to increase incentives for executive officers to achieve the medium-term CO2 targets, “CO2 emissions reductions through measures” * has been set as a non-financial indicator among the evaluation indicators that make up the medium-term stock bonus (performance-linked).
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- Addressing climate change, which we initially set as an indicator for “CO2 emissions reduction rate,” was revised by a resolution of the Compensation Committee to the indicator “CO2 emissions reductions through measures” in consideration of the impact of production and sales volumes.
The Group Environmental Officer reports every month to the President, chairperson 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 December 2023, 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.
