Hulic Initiatives (Summary)

Information Disclosure based on TCFD Recommendations

Hulic has formulated Hulic Environmental Policy which embodied our Sustainability Vision and is executing environmentally friendly management. Aiming to continue sustainable growth while mitigating and adapting to climate change through our business activities, we announced our long-term vision for the environment, with 2050 as the target achievement year and are proceeding with efforts toward the realization of a carbon-free and a recycling-oriented society.
Recognizing the importance of climate-related financial information disclosure, we expressed our support for the TCFD* recommendations in 2020 and started disclosing information in line with the recommendations after completing analysis and responses on the recommended framework.

  • *TCFD is an abbreviation for “Task Force on Climate-related Financial Disclosures”, which was established by the Financial Stability Board and has proposed a framework for disclosing climate-related information to investors.

TCFD Disclosure Recommendations and Hulic Initiatives (Summary)

TCFD Disclosure Recommendations Hulic Initiatives (Summary)
Corporate Governance Corresponding Items Initiatives (Summary)
  • a)Board of Directors oversight of climate-related risks and opportunities
 Board of Directors Oversight
  • Establish Board of Directors oversight and monitoring structure
  • Matters related to climate change are deliberated by the Sustainability Committee, which is chaired by the President and Representative Director, who is responsible for climate change
  • b)Management's role in assessing and managing climate-related risks and opportunities
 Management Responsible for Climate Change
Strategy  
  • Analyze and evaluate climate change mitigation and adaptations relating to climate change risks and opportunities, based on a 1.5°C scenario and a business as usual scenario
  • Examine validity of current strategies based on evaluation results
  • a)Short, medium, and long term climate-related risks and opportunities identified by the organization
 Evaluation of Climate Change-related Risks and Opportunities
  • b)The impact of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning
 Evaluation of Climate Change-related Risks and Opportunities
  • c)Describe the resilience of the organization’s strategy, taking into account different climate-related scenarios, including a 2°C or lower scenario
 Risk and Opportunity Assessment
Risk Management  
  • The Sustainability Committee centrally deliberates climate change matters including risk management and reports to the Board of Directors
  • The Risk Management Committee evaluates and deliberates climate change risks from a Group-wide risk management perspective and reports to the Board of Directors
  • The Board of Directors receives reports from the Sustainability and Risk Management Committees and oversees climate change risks
  • a)Organizational process for identifying and assessing climate-related risks
 Mechanism for Identifying and Assessing Climate Change Risks and Opportunities
  • b)Organizational process for managing climate-related risks
 Mechanism for Managing Climate Change Risks
  • c)Describe how processes for identifying, assessing and managing climate-related risks are integrated into the organization’s overall risk management
 Risk Management Committee
Metrics and Targets  
  • Set climate change KPIs (non-financial key performance indicators) and related indicators, disclose progress toward achieving targets on Hulic website, etc.
  • Reductions in greenhouse gas emissions*1(compared to 2019 base year)
      2030 2050
    Scope1+2*2 Reduce by 70% Substantially zero emissions
    Scope3*3 Reduce by 30% Substantially zero emissions
  • Achieved RE100 in 2023
  • Number of times the Sustainability Committee engaged in climate change monitoring
  • Number of times climate change risks are monitored by the Sustainability Committee and reported to the Board of Directors
  • a)Disclose the metrics used by the organization to assess climate-related risks and opportunities in line with its strategy and risk management process
 Key Performance Indicators (KPIs)
  • b)Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks
 Total Energy Consumption and Greenhouse Gas Emissions
  • c)Describe the targets used by the organization to manage climate-related risks and opportunities and performance against targets
 Key Performance Indicators (KPIs)
  • *1Absolute contraction targets, Base year: 2019. Hulic has had its near-term (by 2030) emissions reduction targets approved by the Science Based Target initiative as consistent with levels required to meet the goals of the Paris Agreement.
  • *2Greenhouse gas emissions from directly owned or controlled sources plus indirect purchased energy for business activities.
    Scope1: Direct emissions (e.g., emissions from natural gas and other fuel combustion)
    Scope2: Indirect emissions (e.g., emissions from the use of purchased electricity, heat and steam)
  • *3Greenhouse gas emissions from external companies affiliated with internal business activities (in the supply chain). Targets were set for Categories 11 and 13 of Scope3.
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