December 10, 2020
Kobe Steel, Ltd.
Kobe Steel, Ltd. announces that it has received an “A- (A-minus)” rating in its evaluation by CDP*1), 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 and water security sectors.
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. In 2020, CDP surveyed over 9,600 companies around the world.
Kobe Steel has been promoting sustainable management based on the Group Corporate Philosophy. Recognizing social issues related to global environment as a management priority, we are undertaking various efforts such as an initiative to reduce CO2 emissions by utilizing the collective strength of the Group's diverse businesses. 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 on to enhance the disclosure of relevant information.
Recognizing that the effective use of water resources is essential for the sustainable development of the Kobe Steel Group (also known as the KOBELCO Group), we are making thorough efforts to improve the efficiency of water use, reuse, and promote recycling of water in our production processes, and have achieved an extremely high water recycling rate of 96%.
Kobe Steel was awarded “A-” both in the climate change and water security categories. We believe such high evaluation is attributed to our efforts to address climate change and promote effective use of water resources.
Going forward, the KOBELCO Group will further promote sustainable management with the aim of improving sustainable corporate value while addressing 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 515 institutional investors whose total assets under management reached US $106 trillion, and more than 9,600 companies were surveyed worldwide
*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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