Kirin Holdings Selected for ‘Excellent TCFD Disclosure’ By Japan’s Government Pension Investment Fund
- CSV
May 11, 2022
Kirin Holdings Company, Limited
● Kirin Holdings nominated for its detailed disclosure and environmental scenario analysis
● Kirin Holdings was selected from the largest number of organizations, 8 institutions.
● Only Japanese company in the world chosen to work with TCFD on publication of scenario analysis
TOKYO, May11, 2022 – Kirin Holdings Company, Limited (Kirin Holdings) was selected by Japan’s Government Pension Investment Fund (GPIF) as one of the eight organizations that received the highest number of nominations in the selection of ‘Excellent TCFD(https://www.fsb-tcfd.org/)*1 Disclosure.’ Excellent TCFD Disclosure is a new initiative where the GPIF’s external asset managers - entrusted with domestic equity investment - nominate companies for their disclosure initiatives. This nomination comes in light of last year’s revised Corporate Governance PolicyPDF：618KB.
*1：Task Force on Climate-related Financial Disclosures.
Reasons for Selection (as laid out in the nomination remarks, translation)
● TCFD interviewed 15 companies around the world for the publication of their scenario analysis guidance. Kirin Holdings was the only Japanese company selected. Kirin Holdings is taking advanced measures in all areas.
● Everything required for TCFD recommendations is meticulously disclosed. Sharing improvement status and deepening of the analysis each year conveys that effective governance is in place.
● Kirin Holdings meticulously explains its approach to risk management, the results of scenario analysis and their reflection in strategies, etc. Kirin Holdings also shares the progress of its indicators with capital markets at its annual ‘CSV*2 Day’ meeting, and even discloses the amount of investment and profit/loss impact of the SBT(https://sciencebasedtargets.org/) 1.5°C scenario, making it easier for investors to understand the profit/loss and corporate value impact of its climate change response.
● The TCFD disclosures are detailed and balanced with respect to the four TCFD disclosure items (governance, strategy, risk management, and metrics and targets), and Kirin Holdings' response to climate-related risks and opportunities is well balanced. In addition, quantitative financial impact is disclosed for climate change impact on key agricultural yields, carbon pricing impact assessment, and scenario analysis.
● The financial impact of risks and opportunities based on the scenario analysis is analyzed in detail, which is useful in estimating the degree of impact.
● In the scenario analysis, financial impact is analyzed based on a number of drivers, and countermeasure strategies are also described in detail. Risks and opportunities are organized by theme, and a multifaceted analysis is also provided.
● The TCFD recommended disclosures are compactly summarized and detailed. The report clearly explains Kirin Holdings' efforts to address change in an easy-to-understand manner.
*2：Creating Shared Value: combined added value for consumers as well as for society at large.
Background: Kirin Holdings and TCFD Disclosure
Following the release of the TCFD final report in June 2017, Kirin Holdings was among the first Japanese companies to make disclosures in line with the TCFD recommendations in June 2018; and was the first Japanese food company to endorse the TCFD recommendations in December 2018. Year after year, Kirin Holdings has deepened and disclosed its scenario analysis of climate change risks and business opportunities. The Kirin Group Environmental Vision 2050 reflects the results of its scenario analysis and significantly stretches the goals of the previous vision.
Kirin Group Environmental Vision 2050
In February 2020, the Kirin Group revised its former Kirin Group Environmental Vision (which was formulated in 2013) and formulated the aforementioned Kirin Group Environmental Vision 2050. The Kirin Group Environmental Vision 2050 is a new long-term strategy for strengthening the resilience of society, aiming to not only minimize negative environmental impact but to also create a positive impact on society and passing a better Earth on to the next generation. The vision statement dictates that Kirin Holdings must work to reduce the environmental impact of Kirin Holdings’ activities on living things. The vision statement identifies biological resources, water resources, containers and packaging, and climate change as four important areas to be addressed in Kirin Holdings’ business.
The Kirin Group will continue to work toward achieving its environmental vision for strengthening social and corporate resilience, leading the way in decarbonizing society and making a positive impact on society beyond its own framework.
About Kirin Holdings
Kirin Holdings Company, Limited is an international company that operates in the Food & Beverages domain (Food & Beverages businesses), Kirin Holdings Company, Limited is an international company that operates in the Food & Beverages domain (Food & Beverages businesses), Pharmaceuticals domain (Pharmaceuticals businesses), and Health Science domain (Health Science business), both in Japan and across the globe.
Kirin Holdings can trace its roots to Japan Brewery which was established in 1885. Japan Brewery became Kirin Brewery in 1907. expanded its business with fermentation and biotechnology as its core technologies, and entered the pharmaceutical business in the 1980s, all of which continue to be global growth centers. In 2007, Kirin Holdings was established as a pure holding company and is currently focusing on boosting its Health Science domain. Science domain.
Under the Kirin Group Vision 2027 (KV 2027), a long-term management plan launched in 2019, the Kirin Group aims to become "A global leader in CSV*, creating value across our world of Food & Beverages to Pharmaceuticals. Going forward, the Kirin Group will continue to leverage its strengths to create both social and economic value through its businesses, with the aim of achieving sustainable growth in corporate value.
* Creating Shared Value: combined added value for consumers as well as for society at large.