Climate Change Data

Idemitsu Kosan Co., Ltd.

Climate Impact & Sustainability Data (2016-04-01 to 2017-03-31, 2022)

Reporting Period: 2016-04-01 to 2017-03-31

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change
  • Diversity & Inclusion
  • Governance
  • Human Rights
  • Social Impact
  • Supply Chain Management

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Not disclosed

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Increased global uncertainty
  • Supply chain disruptions due to climate events
  • Social challenges in oil procurement
  • Social challenges in oil refining
  • Social challenges in fuel oil sales
  • Social challenges in resource development
Mitigation Strategies
  • Developing alternative sourcing strategies
  • Strengthening partnerships with oil-producing countries
  • Implementing safety and environmental measures
  • Strengthening community relations
  • Accelerating ESG initiatives based on management principles
  • Implementing BCP (Business Continuity Plan)

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: GRI

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed

Reporting Period: 2022

Environmental Metrics

ESG Focus Areas

  • Climate Change
  • Energy Transition
  • Renewable Energy
  • Circular Economy
  • Social Responsibility
  • Just Transition

Environmental Achievements

  • Reduced CO2 emissions by 1.36 million tons in FY2020 (Scope 1+2) compared to FY2017 baseline.
  • Target to reduce CO2 emissions by 4 million tons by FY2030 (Scope 1+2) compared to FY2017 baseline.
  • Target to achieve carbon neutrality (net-zero CO2 emissions) by 2050 (Scope 1+2).

Social Achievements

  • Development of Smart Yorozuya concept to ensure job security during transition.
  • Implementation of Sustainable Procurement Guidelines (November 2021).

Governance Achievements

  • Establishment of Safety and Environment Protection Headquarters to oversee ESG initiatives.
  • Board of Directors receives reports and provides oversight on environmental issues, including climate change.
  • Use of internal carbon pricing for investment decisions.

Climate Goals & Targets

Long-term Goals:
  • Achieve carbon neutrality (net-zero CO2 emissions) by 2050 (Scope 1+2).
Medium-term Goals:
  • 4 GW of total renewable energy development in Japan and abroad by 2030.
  • 100,000 kL per year of SAF supply by 2025.
  • 2 million tons of black pellets supply by 2030.
Short-term Goals:
  • Reduce CO2 emissions by 4 million tons by FY2030 (Scope 1+2).

Environmental Challenges

  • Decline in demand for petroleum products due to the spread of EVs and changes in consumer awareness.
  • Decline in energy prices due to technological advances.
  • Possibility of divestment of the coal business.
  • Decline in the reputation of the oil and coal businesses.
  • Introduction of carbon pricing.
  • Suspension of equipment operation and production sites damage due to abnormal rainfall and others.
  • Impact of sea-level rise on manufacturing and distribution bases.
Mitigation Strategies
  • Market monitoring and the establishment of optimal production, supply, and sales systems.
  • Departure from the business portfolio depending on fossil fuel.
  • Strengthening of the competitiveness of the entire supply chain.
  • Development of black pellets and biomass co-firing technology.
  • Strengthening of external engagement.
  • Internal discussions of carbon pricing.
  • Reinforcement of equipment maintenance and strengthening of the supply chain.
  • Measures such as reinforced seawall and relocation of control rooms.

Supply Chain Management

Responsible Procurement
  • Sustainable Procurement Guidelines (November 2021)

Climate-Related Risks & Opportunities

Physical Risks
  • Abnormal rainfall
  • Sea-level rise
Transition Risks
  • Decline in demand for petroleum products
  • Decline in energy prices
  • Decline in reputation of fossil fuel businesses
  • Carbon pricing
Opportunities
  • Expanding demand for renewable energy
  • Increasing demand for environmentally friendly products
  • Increasing demand for energy-saving materials
  • Development of distributed energy resource systems
  • Development of the circular economy
  • Advent of the MaaS society
  • Development of natural gas resources

Reporting Standards

Frameworks Used: Climate Transition Finance Handbook (CTFH), Basic Guidelines on Climate Transition Finance (CTFBG), Green Bond Principles (GBP), Green Bond Guidelines (GBGLs), TCFD

Third-party Assurance: DNV Business Assurance Japan K.K.

UN Sustainable Development Goals

  • Goal 7
  • Goal 9
  • Goal 11
  • Goal 13

Initiatives contribute to affordable and clean energy, industry, innovation, sustainable cities, and climate action.

Sustainable Products & Innovation

  • Sustainable aviation fuel (SAF)
  • Black pellets
  • Lithium solid-state electrolytes