December 14, 2022
Kobe Steel, Ltd.
Kobe Steel, Ltd. announces that it has received an “A- (A-minus)” rating for the third consecutive year in the evaluation by CDP1, an international non-profit organization that provides an environmental information disclosure system. The rating was given for its excellence in environmental performance and information disclosure in the climate change sector.
CDP conducts annual environmental surveys and evaluates companies by scores of A to D- based on how effectively they respond to issues such as climate change, deforestation, and water security. To date, CDP has surveyed over 18,700 companies around the world.
In promoting sustainability management based on the Group Corporate Philosophy, we have identified priority issues of materiality. Contributing to a Green Society is one of the key efforts. We consider addressing the global environmental issues to be a management priority, and we are undertaking various efforts. In December 2020, Kobe Steel announced its support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)2 and has been working to enhance the disclosure of relevant information.
Kobe Steel was awarded “A-” in the climate change category for the efforts to address climate change.
Going forward, our Group will further promote sustainability management with the aim of improving sustainable corporate value while contributing to a green society and addressing other environmental challenges our global society faces.
1 CDP was established in 2000 in the UK as a non-profit organization (NPO) that conducts surveys on climate change and water resource management in the private sector and publishes the results. Its operations are supported by investors in various countries. This year's survey was conducted on behalf of more than 680 institutional investors whose total assets under management reach US $130 trillion. In 2022, about 20,000 organizations worldwide disclosed their data through CDP, including more than 18,700 companies, more than 1,100 cities, states and regions, accounting for half of the world's market capitalization.
2 TCFD refers to the Task Force on Climate-related Financial Disclosures, established by the Financial Stability Board (FSB)3, at the request of G20, with Michael Bloomberg as its chairman to develop consistent climate-related financial risk disclosures and discuss how these issues should be addressed by financial institutions. TCFD published its final report in June 2017 and recommends companies to disclose information in four areas: Governance, Strategy, Risk Management, Metrix & Targets.
3 The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. The FSB is comprised of national financial authorities, which include central banks and finance ministries.
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