Basic approach

The Group strives to protect the environment through its business activities in accordance with the Group Vision, which is the corporate philosophy that takes into account the natural environment and the global environment. In particular, we recognize that climate change poses serious risks, and we are actively promoting initiatives in this area.
In fiscal year 2021, we endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and participated in TCFD Consortium. Based on the recommendations, we will actively disclose information about both business risks and opportunities posed by climate changes from the perspectives of strategy and risk management.

Information disclosure based on TCFD recommendations

Governance

The Group will strive to address issues so it can help bring about a sustainable society by carrying out its wide-ranging businesses and services based on the “Group Vision,” which constitutes the Group’s philosophy, whereby the Company itself also aims at sustainable and dynamic growth.
The Company has been aggressively pursuing initiatives called “Sustainability Actions” toward realizing a sustainable society. Setting the important themes (materialities) that require particular attention and is actively pursuing initiatives aligned with these materiality areas.
In order to pursue these initiatives sustainably, aggressively and systematically, the Group has formulated the “Regulations for System Promoting Seibu Group Sustainability Actions” and has a promotional system in place. To promote Sustainability Actions groupwide, the Seibu Group Sustainability Committee has been set as the organization that strongly pushes forward with efforts by determining the direction of Sustainability Actions, monitoring their progress, and using other means. The Committee is headed and chaired by CEO of Seibu Holdings and is composed of the President and Representative Director of Seibu Holdings and the Executive Officer in Charge of the Corporate Strategy Department of Seibu Holdings—the organization responsible for promoting Sustainability Actions and formulating group business plans—, Executive Officer in Charge of Human Capital Strategy of Seibu Holdings, and the presidents of the main business companies in the Seibu Group. The Committee monitors initiatives based on the TCFD recommendations and decides on their direction through activities, such as keeping track of initiatives for reducing CO₂ emissions, which are the main cause of global warming, and discussing how to identify and respond to climate change risks. The contents of discussions in the Committee are reported at meetings of the Board of Directors.
Click here for details of the promotion system.

Strategy

We have held discussions on climate change related strategies including identifying risks/opportunities and assessing their impacts at the Seibu Group Sustainability Committee in the following steps. The Seibu Group Sustainability Committee will continue to monitor progress of these plans.

• STEP1: Identifying climate-related risks/opportunities
• STEP2: Defining a group of scenarios
• STEP3: Assessing business impacts
• STEP4: Planning/Implementing countermeasures

Businesses subject to scenario analysis:
Real Estate, and Hotel and Leisure, and Urban Transportation and Regional

Reference scenarios:

• IEA NZE Scenario
• IPCC RCP8.5 Scenario

STEP1: Identifying climate-related risks/opportunities

We identified climate-related risks and opportunities that were likely to affect our businesses. We classified them into transition risks associated with the transition to a low-carbon society, physical risks related to physical changes caused by climate change, and the opportunities that may arise.

STEP2: Defining a group of scenarios

We deliberate on multiple scenarios including the IEA NZE Scenario in which the world works to keep the rise in the average temperature to less than 1.5℃, and the IPCC RCP8.5 Scenario in which the global average temperature at the end of this century rises by 4℃ to cope with uncertainty in business.

STEP3: Assessment of Impact

We analyze the impact of the risk and opportunity items identified in STEP1 quantitatively and qualitatively based on different scenarios assumed in STEP2.

STEP4: Planning/Implementing countermeasures

We are proceeding with efforts to manage “risks” appropriately and turn “opportunities” into business opportunities. Meanwhile, the Seibu Group Sustainability Committee and other committees will continue to monitor the progress of these activities.

For details, please refer to the Environmental Measures section.
https://www.seibuholdings.co.jp/en/sustainability/environment/ 

Risk Management

The Seibu Group Sustainability Committee identifies climate-related risks. Afterward, the risks and opportunities analyzed and assessed are addressed appropriately through corresponding Sustainability Actions by the Sustainability Actions Promotion System and suitable risk management by the Risk Management System. In addition, climate change risks are set as particularly important risks in the “Risk Management Plan,” which is formulated annually based on the “Regulations for Seibu Group Risk Management,” and are controlled after being integrated into the group-wide risk management.
Please refer to the following link for details on Risk Management.
https://www.seibuholdings.co.jp/en/ir/management/risk/ 

Indicators and Goals

The Seibu Group has adopted "greenhouse gas reduction" as one of its important themes (materialities) and has been actively striving to reduce emissions.
Previously, we had set targets for reducing environmental impact in order to reduce CO₂ emissions. In fiscal year 2022, we revised our targets for reducing environmental impact in order to further reduce environmental impact.
As a long-term goal, we set a new target of net zero CO₂ emissions for fiscal year 2050.
To achieve our long-term target, we also established a medium-term target of a 46% reduction by fiscal year 2030 compared to fiscal year 2018, and set a short-term target of a 5% reduction compared to the previous fiscal year. In addition, we have established new targets for the introduction of renewable energy, which is essential for reducing CO₂ emissions.
Subsequently, in fiscal year 2024, we achieved ahead of schedule our medium-term target of reducing CO₂ emissions by 46% compared to fiscal year 2018 levels by fiscal year 2030. Building on this achievement, from 2026, we have established new targets and partially revised our existing CO₂ emission reduction targets, with the aim of driving further steady reductions toward our net-zero goal by fiscal year 2050.
By continuing to reduce CO₂ emissions, we will fulfill our social responsibilities as a company responsible for public transport and strive to manage risks and acquire business opportunities associated with the transition to a carbon-free society.

Seibu Group's vision for society in 2050

We will make unified efforts to actively promote adequate measures for the “reduction of energy consumption,” “energy transition,” and “absorption of CO₂ emitted” to achieve those targets and cope with associated climate change risks and opportunities.

Please refer to the following link for details on Seibu Group-wide CO₂ emissions.
https://www.seibuholdings.co.jp/en/sustainability/esg_data/ 

Internal Carbon Pricing System

We have introduced the Internal Carbon Pricing System to strongly advance our response to climate change. We apply an internal carbon price (7,000 yen/t-CO₂) to some capital investments that can reduce CO₂ emissions to aid investment decisions.