The Cosmo Energy Group, based on its Group Management Vision and fundamental approach to sustainability, has identified its eight most important material issues. These represent ESG challenges that we are addressing as initiatives that will influence the sustainable development of society and the Group, including its medium- to long-term enterprise value and performance, as the Group strives to help build the society it envisions for 2050.
Our most important material issues are classified into material issues for sustainable value creation—namely “climate change countermeasures,” “provision of clean energy, products, and services,” and “structural reform of profitmaking businesses”—and material issues that form the foundation of business continuity—namely “safe operations and stable supply,” “strengthening of Group risk management,” “commitment to compliance and sharing of philosophy and values,” “promoting human resources’ success, health, and job satisfaction,” and “digital transformation (DX).”
With regard to material issues for sustainable value creation, we will also pursue efforts guided by our “Oil & New: Next Stage” slogan, under the Seventh Consolidated Medium-Term Management Plan, to address societal challenges. These activities will be underpinned by addressing the material issues that form the foundation of business continuity.
We are implementing a variety of initiatives to fulfill the vision we have for addressing material issues.
Most Important Material Issues
Most Important Material Issues
Vision for Addressing Material Issues
Material Issues for Sustainable Value Creation
Material issues | Vision for addressing material issues | Related SDGs |
---|---|---|
Climate change countermeasures |
|
![]() ![]() |
Provision of clean energy, products, and services |
|
|
Structural reform of profitmaking businesses |
|
![]() |
Material Issues that Form the Foundation of Business Continuity
Material issues | Vision for addressing material issues | Related SDGs |
---|---|---|
Promoting human resources’ success, health, and job satisfaction |
|
![]() ![]() ![]() ![]() ![]() |
Digital transformation (DX) |
|
![]() ![]() |
Strengthening of Group risk management |
|
ー |
Commitment to compliance and sharing of philosophy and values |
|
![]() ![]() ![]() |
Safe operations and stable supply |
|
![]() ![]() ![]() ![]() ![]() ![]() |
Material Issue Identification Process
We sought the opinions of both internal and external stakeholders in the process of identifying the Group’s material issues. We selected 154 potential issues by referring to international initiatives and guidelines across industries, and then integrated overlapping issues to create a candidate list of 41 issues.
A matrix was used for evaluating the importance of each material issue, where the horizontal axis represented the importance of each issue to the Group, and the vertical axis represented the importance to society. We determined the level of importance of each issue to the Group based on the Group Management Vision, the Code of Conduct, the results of workshops conducted among directors, and the details of various initiatives. We then determined the level of importance of each issue to society by aggregating data from various sources including rating agencies, information on industry peers, consumer research, employee surveys, investor interviews, and dialogue sessions with experts. After plotting the resulting data points on the matrix, we were able to identify the Group’s ten most important material issues.
In fiscal 2022, we again interviewed the Group directors and reviewed the Group’s material issues. After considering changes in society, the Group’s DX strategy and human resources utilization policy, etc., we then re-plotted the matrix to reflect these developments. As a result, the Group’s material issues were revised to include the eight most important ones.