Medium-Term Priority Strategies for Sustainability | CASIO

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Medium-Term Priority Strategies for Sustainability

Medium-term priority strategies for sustainability (fiscal 2021-2022)

In fiscal 2021, in light of progress made during the preceding fiscal years, Casio decided to place particular emphasis on the material issues toward the realization of a decarbonized society and the rebuilding of the sustainability promotion system in its medium-term priority strategies for E (environment) and S (society) for fiscal 2021 and fiscal 2022. These were laid out and advanced as described below.

│Medium-term priority strategies (fiscal 2021-2022)

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Progress made in fiscal 2021 toward reaching the above-described medium-term priority strategies’ goals for fiscal 2022 is as shown below.

Priority Issues to pursue KPI (FY2022 goals) Progress made in FY2021
Progress in setting medium- and long-term social and environmental targets integrated with business strategy SDG strategy
Set, pursue and firmly establish sustainability goals for the entire group and for each business unit, integrated with business strategies, by evaluating their contribution to the SDGs
Sustainability goals for the entire group and for each BU that are integrated with the business strategy established, and the first phase completed
Results evaluated based on the KPI and used to set targets for the next phase

Reviewed the mid-term business plans for each business and functional headquarters, upon which the medium-term sustainability goals are based. Also arranged SDGs embraced by Casio in the following areas: contributing to social issues through business; and reducing the environmental impact through business.

 

Sustainability Goals

 

Strategy for addressing global warming (CO2 reductions)
Reformulate long-term environmental targets integrated with business strategies aligned with SBT, and set, pursue and firmly establish a CO2 emissions reduction scenario based on those targets
Improve confidence of long-term targets by acquiring SBT certification and joining RE100
Long-term environmental targets based on new SBT standards set, and a CO2 reduction scenario based on this devised
SBT certification completed, RE100 initiative joined and renewable energy adoption policies established for entire Group

Enhanced Casio’s medium- and long-term greenhouse gas reduction targets to conform with SBT’s new standards in October 2020, as shown below, and submitted them to the SBTi to request validation that these targets are based on scientific evidence.

As a result, received validation from SBTi that the Casio fiscal 2030 targets are aligned with the scientific evidence-based goal of limiting global warming to well below 2°C.

Casio Greenhouse Gas Reduction Targets Validated by SBTi

New Enhanced Greenhouse Gas Reduction Targets:

■ Scopes 1 & 2
・38% reduction by FY2031, compared to FY2019
・Net zero emissions by FY2050

■ Scope 3
・30% reduction of greenhouse gas emissions from the use of purchased goods and services (category 1) and use of sold products (category 11) by FY2031, compared to FY2019

In addition, Casio formulated a concrete greenhouse gas (scopes 1 & 2) emissions reduction scenario for FY2031 aimed at achieving these targets and put it into practice.

Announcement of support for TCFD, disclosure of information
Support the recommendation that the impact of climate change on financial information be identified and disclosed, and augment disclosed information
Support for TCFD announced and disclosure in line with its requirements augmented

In addition to enhancing greenhouse gas reduction targets to conform with the new SBTi standards, also announced support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and disclosed relevant financial information.

Casio will continue to work to strengthen its governance relating to climate change, formulate strategies based on climate-change risk and opportunity analysis, and disclose climate-related financial risk information.

Information Disclosure Based on TCFD Recommendations

Rebuilding of sustainability promotion system
Establish sustainability policies and priority strategies integrated with management, and rebuild and firmly establish a system for promoting them
A Sustainability Committee under the board of directors formed to discuss policies and strategies; in addition, by meeting in line with the PDCA cycle, measures reliably promoted The Sustainability Committee is positioned between the board of directors and the Management Committee. It is chaired by the director in charge of ESG strategy, and its members include the CFO, CHRO, leaders of each business, and officers in charge of staff divisions. The committee began making concrete deliberations in FY2021. Key issues relating to sustainability are discussed by officers in the committee, the results of deliberations are reported to the board of directors and are then put into practice following necessary procedures.
Ongoing improvements to ESG levels for entire Casio Group Improve ESG evaluation through effective disclosure of ESG information, engagement and index response Effective response to key indices such as FTSE, MSCI and DJSI continued, reselected for DJSI WORLD index, stayed on FTSE and MSCI and remained in a position to be selected for ESG investment

A considerably updated integrated report was issued in FY2021 and was selected as one of the “most-improved integrated reports” by the GPIF.

In addition, Casio is continuing to update its sustainability report with the improvement of access to published information. Casio will continue to review aspects such as the report structure, with the aim of creating reports that are even more easily understandable. For details on the adoption of ESG indices, refer to External Evaluation.

Continue to improve ESG performance by clarifying ESG conditions across the entire Group, including the supply chain, and taking action on the CSR material issues In light of progress with materiality through fiscal 2021, the next materiality promotion plan established, and results evaluated based on KPI Regarding the clarification of ESG conditions in the supply chain, the Production Headquarters responsible for procurement plans to enhance the contents of the annually-conducted supplier CSR surveys. With regard to FY2021, Casio began conducting surveys concerning greenhouse gas emissions and the setting of greenhouse gas emissions reduction targets in particular, beginning with suppliers in Japan.

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