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Disclosure Based on TCFD Recommendations

Disclosure Based on TCFD Recommendations

Having engaged in the air transportation business where GHG (greenhouse gas) emissions are unavoidable, one of the most important issues to address is climate change. We will analyze how measures taken against climate change may impact on our business and financials in terms of opportunities and risks, to facilitate appropriate measures, and strive to disclose appropriate information in line with the final recommendations of the TCFD*.

  • *TCFD：Task Force on Climate-related Financial Disclosures
    Established by the Financial Stability Board (FBS) at the request of the G20. Requires companies and others to understand and disclose the opportunities and risks posed by climate change.

Governance

Our sustainability policy, including measures on climate change, is decided through deliberations at the Board Meeting.

Based on the policy decided at the Board Meeting, the Sustainability Committee holds discussions, and determines initiatives and targets. The Committee is chaired by the President, and is consisted of executive directors and corporate officers. The committee discusses important policies and measures on overall sustainability issues, including climate change.

The progress of the measures implemented by each department is reported to the Committee twice a year and will also be reported at Board Meetings to ensure appropriate supervision.

Sustainability Promotion Structure

Strategy

We will conduct scenario analysis to quantitatively understand the impact of climate change on our business, and identify opportunities and risks. We aim to become a sustainable company by incorporating those identified opportunities and measures against risks in our management strategy.

Risk Management

We have established a risk management system, led by the Risk Management Committee, to recognize and address the various risk factors surrounding our business environment.

In principle, the Risk Management Committee is held four times a year to identify "priority risks" that the company should manage from among all risk items. Furthermore, the committee clarifies the department in charge, formulates countermeasures, and confirms and evaluates their progress, effectiveness, and achievement. Also, the status of implementation on these risk management measures is reported at the Board Meetings for appropriate supervision.

Based on the result of the evaluation by the Risk Management Committee, we have positioned "climate-related risks" as "priority risks", and will formulate countermeasures and promote initiatives in the PDCA cycle led by the Sustainability Committee.

Indicators and Targets

For the appropriate management of climate-related opportunities and risks, we have set indicators and targets where we will replace 10% of our aviation fuel consumption with SAF (Sustainable Aviation Fuel) by the year 2030, and work toward achieving carbon neutrality by the year 2050.