Environmental Management

“In striving for harmony and symbiosis between our planet, man and society, we aim for sustainable growth towards a future of limitless possibilities.” In order to realize this Cosmo Energy Group Management Vision, we recognize environmental issues such as natural capital and biodiversity as important issues alongside climate change. Our aim is to be an environmentally responsible energy group that practices “harmony and symbiosis with the global environment,” which is part of our Basic Concept of Sustainability. This is why Cosmo Energy Group Code of Conduct states that we will proactively and continuously pursue the utilization of clean energy and strive to preserve the global environment. We also have an Environmental Policy in place to ensure that all of our business activities are conducted in harmony with the environment.

Cosmo Energy Group’s Environmental Policy

The Group’s Sustainability Strategy Council is chaired by the executive officer in charge of the Sustainability Initiative Department. Under the supervision of the executive officer, the Sustainability Initiative Department manages the progress of the Group’s environmental activities. This includes the Group’s efforts to address climate change, as specified in the long-term vision and the Consolidated Medium-Term Management Plan. The department also identifies issues and devises appropriate measures, which are submitted to the Sustainability Strategy Council as proposed agenda items. The executive officer in charge of the Sustainability Initiative Department is responsible for implementing environmental measures such as efforts to address climate change. When decisions are made regarding these measures, they are discussed by the Executive Officers’ Committee, and the final responsibility is borne by the Group CEO, who chairs the Executive Officers’ Committee.

The members of the Sustainability Strategy Council include executive officers appointed to serve by the council chair, the general manager of the Corporate Planning Department of Cosmo Energy Holdings, as well as the executive officers in charge of sustainability at the core operating companies (Cosmo Oil, Cosmo Oil Marketing, and Cosmo Energy Exploration & Production). The full-time Audit and Supervisory Committee member also attends these meetings as an observer. This membership structure allows the council to incorporate objective perspectives.

The Sustainability Strategy Council deliberates on important operations and policies related to environmental issues. Matters deemed to have a major impact on the entire Group are determined via discussion and then reported to the Executive Officers’ Committee and the Board of Directors, thereby ensuring appropriate oversight by the senior management team.