Educate, empower, engage: new advisory Codo launches services to support the low-carbon transition of Japanese firms
19/04/22, Fukuoka, Japan | Established last month in the western region of Kyushu, Codo Advisory, an independent consultancy for companies and investors, opens today its services to support a real decarbonization of the Japanese economy.
Japan aims for carbon neutrality by 2050, but this ambition still needs to be translated into concrete action plans. Firms are setting climate goals, but often lack the know-how to define a comprehensive transition strategy. “The reorganization of Tokyo Stock Exchange this year will increase the exposure of Japanese companies to foreign investors. From major European pension funds to activist investors, shareholders’ demand for stronger climate plans is coming to Japan”, predicts Kyoya Okazawa, former BNP Paribas and founder of Codo Advisory.
Using the ACT methodology developed by international non-profit CDP and French ecological transition agency ADEME, Codo will help Japanese companies reduce their climate-related risks and reinforce their long-term competitiveness. Identified by the Glasgow Financial Alliance for Net Zero, ACT is the most comprehensive framework for corporate low-carbon transition strategies, connecting the dots between CDP scoring, TCFD disclosure and SBT certification. More than 400 companies are already engaged with ACT worldwide. “We are the first Japanese consultancy licensed by the ACT Initiative. We will facilitate the introduction of this innovative methodology from Europe to Japan, in cooperation with its co-developers CDP and ADEME,” explains Codo’s COO Stéfan Le Dû.
Educate, empower, engage: Codo’s range of services include initiation workshops, assessment of transition strategy using ACT and independent review of integrated reports. Available both to major listed firms and to local stakeholders, Codo covers the whole spectrum of climate maturity, from organizations in the first steps of their decarbonization journey, to more advanced entities willing to improve their plans.
Codo will develop privileged relationships with the region of Kyushu, which has the potential to become a bridge between Japan and the world for accelerated climate action. “Fukuoka aims to become carbon neutral and to establish itself as an international financial hub. In this context, we welcome the establishment of Codo Advisory, a company that will support the decarbonization of Japan through global financial mechanisms”, comments Soichiro Takashima, mayor of Fukuoka city.
Codo’s services will be delivered by a diverse team gathering decades of experience in environmental consultancy, international finance, public policies and more. Codo’s work will be supported by strategic partners and allies, including Caux Round Table Japan, the Japanese branch of a global network for ethical business practices, Hibiya Park Law Offices, a leading law firm based in Tokyo, the World Benchmarking Alliance, an non-profit organization encouraging sustainable business, and GLOCAL Erasmus Mundus, an academic cooperation between Europe and the world. “We are delighted to launch a collaboration with Codo Advisory and develop interfaces between our academic expertise on international business sustainability and Codo’s industry knowledge of Japanese markets”, highlights Steven Mulholland, GLOCAL program coordinator at the University of Glasgow.