A major steel manufacturer in Japan has been reluctant to commit to company-level environmental targets such as carbon footprint reduction and energy efficiency.
We engaged with the senior officers in charge of corporate strategy and with investor relations specifically on climate risk. Since then, we have regularly raised concerns about the company’s lack of environmental disclosures.
In 2019, the company issued its first climate-related scenario analysis in accordance with the TCFD. Although this is only a starting point, we have observed a significant improvement in management commitment on climate change.