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MOL Recognized with 'A' Score for Transparency on Climate Change

February 07, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) has been recognized for leadership in corporate transparency and performance on climate change by global environmental non-profit CDP (Note 1), securing a place on its annual 'A List' (Note 2).

CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. This time, out of approximately 23,000 companies worldwide that were evaluated, more than 120 Japanese companies were selected for the 'A List', and our company was one of them.

The MOL Group has identified five 'Sustainability Issues' (Materiality) as important challenges for achieving sustainable development together with society through the realization of our group vision, and based on the 'MOL Sustainability Plan', we are promoting initiatives to solve environmental and other issues.
In our management plan 'BLUE ACTION 2035', we have positioned environmental strategy as one of our main strategies, and furthermore, we have updated the vision from version 2.1 to 'MOL Group Environmental Vision 2.2' , incorporating the establishment of intermediate milestones and the concretization of emission reduction paths. We understand that these initiatives have been evaluated in this questionnaire.
Under MOL Group corporate philosophy of 'Supporting people's daily lives from the blue sea and opening up a prosperous future', our group aims to deliver new value to all stakeholders and become a strong and flexible corporate group that grows globally by not only increasing economic value but also social value.

Note 1:About CDP
CDP is an international non-profit organization that has a global system for evaluating and disclosing environmental information on the strategies and initiatives of companies and municipalities towards climate change and greenhouse gas emission reduction. Since its establishment in 2000, CDP has been leading initiatives to encourage companies to disclose environmental impacts, reduce greenhouse gases, and protect water resources and forests by leveraging the capital market and corporate purchasing power. Currently, it collaborates with over 740 financial institutions holding more than 136 trillion US dollars in assets. By 2023, more than 24,000 organizations worldwide, including over 23,000 companies equivalent to two-thirds of the world's market capitalization and more than 1,100 municipalities, have disclosed environmental information through CDP's questionnaire. CDP has the world's largest environmental database based on a TCFD-compliant questionnaire (Note 3), and the CDP score is widely used in investment and procurement decision-making to build a net-zero, sustainable and resilient economy.

Note 2:The evaluation method of CDP
CDP scores companies using a detailed and independent method, evaluating based on the demonstration of best practices related to environmental leadership, such as the comprehensiveness of information disclosure, recognition and management of environmental risks, and ambitious and meaningful goal setting.

Note3:About TCFD
The Task Force on Climate-related Financial Disclosures (TCFD) is a task force established by the Financial Stability Board (FSB) in response to a request from the G20. Its purpose is to understand and disclose the financial impacts of the risks and opportunities brought about by climate change. In June 2017, it published recommendations on the approach to voluntary information disclosure.

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision. We anticipate this initiative to contribute especially to the realization of "Environment -Conservation for Marine and global environment-".