TOKYO, Feb 6, 2024 - (JCN Newswire) - NEC Corporation (NEC; TSE: 6701) has been recognized for leadership in corporate sustainability by global environmental non-profit CDP(1), securing a place on its prestigious "A List" five years in a row for tackling climate change, as well as acting to protect water security.
NEC has set forth a policy for "Living harmoniously with the earth to secure the future" under the NEC 2030VISION and positioned decarbonization as a priority management theme, materiality, from an ESG perspective. While working on the Mid-term Management Plan 2025, NEC is striving to provide solutions that contribute to realizing a decarbonized society, responding to global warming, and guaranteeing food and water security.
In climate change mitigation NEC is working to achieve net zero greenhouse gas emissions throughout its supply chain by FY2040. NEC has also proposed "Adaptation Finance"(2) together with its global partners and is promoting its implementation in society. Implementing disaster prevention and mitigation measures for the ever-increasing number of weather-related disasters will reduce the damage caused by disasters. By calculating the effect of this damage reduction and converting its value into a financial product, we can change the flow of funds. Through this mechanism, we are working to realize a resilient society.
In the field of natural capital, which needs to be addressed together with climate change, NEC published the first Taskforce on Nature-related Financial Disclosures (TNFD) report in the Japanese IT industry in July 2023 in response to the accelerating global trend toward valuing and visualizing biodiversity and natural capital.(3).
Going forward, NEC will continue to contribute to solving environmental issues, including climate change measures, water security and natural capital through the use of ICT.
(1)CDP is an international non-profit organization in which investors, companies, cities, nations, and regions operate a global information disclosure system to manage environmental impacts. Nearly 24,000 organizations around the world disclosed data through CDP in 2023, including more than 23,000 companies worth two thirds of global market capitalization, and over 1,100 cities, states and regions.
(2)Adaptation Finance: A financial mechanism to accelerate the flow of funds into disaster prevention and mitigation measures by visualizing in advance with DX technology the economic losses and environmental impacts (future CO2 emissions during reconstruction) that are expected to be reduced through disaster prevention and mitigation as quantitative and monetary values. It aims to realize a new IT platform that closely links the risk mitigation effects of disaster prevention measures with premiums for investment, loans, and insurance-related products.
(3) NEC publishes the first Taskforce on Nature-related Financial Disclosures (TNFD) report in the Japanese IT industry, created using the TNFD Beta v0.4 framework.
NEC’s approach to biodiversity www.nec.com/en/global/csr/eco/life.html.
About NEC Corporation
NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.