The World Benchmarking Alliance, Caux Round Table Japan and Codo Advisory organized on 13th December a webinar gathering a panel of 9 experts from leading international organizations and companies at the forefront of climate action in Asia. Just one month after the conclusion of COP27, talks focused on the place of Japan in international climate benchmarks.
In the first session, the World Benchmarking Alliance, Caux Round Table Japan, CDP, InfluenceMap and Codo Advisory shared their views on how to assess companies’ readiness for science-based low-carbon transitions, and how Japanese firms are performing in global benchmarks and rankings.
In the second session, three Asian companies – ANA from Japan, Petronas from Malaysia and CLP from Hong-Kong – introduced their climate plans, and their engagement with international standards and frameworks such as TCFD, CDP, SBT and WBA’s climate benchmarks. An Asian investor, Polymer Capital Management, introduced its views on the matter as well.
Key learnings from the event
International frameworks for scoring, certification and benchmarking, such as the climate benchmarks of the World Benchmarking Alliance based on the ACT assessment methodology, are giving clues to companies about what they could and should improve. These signals are precious. The companies that will be successful in a low-carbon economy tomorrow are the ones who, today, can listen to these signals and adjust their trajectory accordingly.
A lot of companies in Japan and in the world have already set long-term decarbonization goals, such as “carbon neutrality in 2050”. But this is not enough. Recently, there have been more and more calls for concrete transition plans. Companies are now expected to demonstrate how they will move towards that goal. Do they have set credible short-term and mid-term goals? Are they engaging their suppliers and clients? Are they aligning their internal governance with their climate targets? Is the R&D budget rightfully allocated to the low-carbon transformation of the business?
Scrutiny from NGOs and investors will keep growing. Japanese firms can anticipate, and take back a leading position that Japan had 25 years ago, when the Kyoto Protocol was adopted under its leadership. There is still hope, but time is running out as emissions must be cut by 50% before 2030, to be on track towards carbon neutrality in 2050. A strong acceleration, supported by transition plans and broader awareness within companies, is needed.
Download presentation materials
Romain Poivet
CLIMATE AND ENERGY ENGAGEMENT LEAD, WBA
The World Benchmarking Alliance is a non-profit organization that assesses and ranks the world’s most influential companies on their contribution to the Sustainable Development Goals.
Hiroshi Ishida
Executıve dırector, caux roundtable japan
Caux Round Table (CRT) is a global network working to realize a fair, free and transparent society through sustainable and socially responsible business. CRT Japan is supporting WBA’s activities and engagement with Japanese firms.
Andy Ross
CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for investors, companies, cities, and governments to assess their impact and take urgent action to build a truly sustainable economy.
Monica Nagashima
Japan Country Manager, Influence Map
InfluenceMap is a London-based think tank with offices in Tokyo, Seoul, and New York. It provides data-driven analysis on issues related to energy and climate change. Our metrics for measuring corporate influence over climate policy are used by investors, including the global Climate Action 100+ investor engagement process.
Stéfan Le Dû
REPRESENTATIVE DIRECTOR & COO, CODO ADVISORY
As the first ACT-licensed consultancy in Japan, Codo positions itself as a bridge between Japan and global trends in sustainability.
Chikako Miyata
Chief Sustainability Officer, ANA Holdings
All Nippon Airways (ANA) is Japan’s largest airline company. ANA Holdings is engaged in several international corporate decarbonization frameworks. The company was assessed by WBA for the first time this year.
Siti Rafidah Moslim
Head, Governance & Embedment, Corporate Sustainability, PETRONAS
Headquartered in Malaysia, Petronas is a dynamic global energy group with a presence in over 50 countries. The company produces and delivers energy and solutions that power society’s progress in a responsible and sustainable manner.
Hendrik Rosenthal
director – group sustainability, clp
CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, one of the largest investor-owned power businesses in Asia Pacific.
Anthony Cheung
Managing Director and Head of ESG, Polymer Capital Management
Polymer Capital Management is a market-neutral, multi-manager investment platform based in and focused on Asia.
More about the organizers
Codo Advisory
Headquartered in Fukuoka and present in Tokyo, Codo Advisory is an independent consultancy helping Japanese companies define and refine their strategy to zero-carbon, to reduce their risks, and reinforce their global competitiveness. Codo’s services are available to organizations in the first steps of their decarbonization journey, like more advanced entities willing to improve their plans.
World Benchmarking Alliance
The World Benchmarking Alliance is a non-profit organization that assesses and ranks the world’s most influential companies on their contribution to the Sustainable Development Goals. WBA publishes free and publicly available benchmarks to empower all stakeholders, from investors to consumers, to hold the private sector accountable for their role in building a more sustainable world that works for everyone.
CRT Japan
Caux Round Table (CRT) is a global network of business leaders working to realize a fair, free and transparent society through sustainable and socially responsible business. Caux Round Table Japan (CRT Japan) started its activities in Japan as a registered NPO (Non-Profit Organization) in 2006.