TOKYO, Feb 19, 2024 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) received an "A-minus" rating in the Climate Change Report 2023 published by CDP (headquartered in London, U.K.), a non-profit organization that maintains a global environmental information disclosure system. This A-minus is the CDP's second-highest rating and is one rank up from the B ranking MHI received in the previous year.
CDP scoring and collected environmental data are publicly available on CDP's platform and widely referenced by institutional investors and companies. MHI believes this improved rating will enable it to draw broad attention to its progress in addressing climate change in its business activities.
Every year since 2002, CDP sends letters to companies on behalf of investors asking those companies to disclose data on their environmental impacts. In 2023, 746 financial institutions (with more than US$136 trillion in invested assets) requested responses to a CDP-prepared questionnaire, and more than 15,000 companies worldwide were asked to provide environmental information.
CDP's climate change questionnaire is comprehensive in content. It asks companies to provide not only climate change-related environmental data but also assessments of their governance structures as well as of opportunities and risks. Additionally, because the questionnaire's content is the same worldwide, it provides stakeholders with a tool for comparing the efforts undertaken by different companies.
In recent years, MHI has been enhancing its disclosures in line with TCFD (Note) recommendations. This effort is leading to higher scores for items concerning "disclosure of opportunities," "disclosure of risks," and "risk management procedures," among others.
MHI will continue striving to help bring about a sustainable society and enhance its corporate value over the medium-to-long term through continuous innovation and superior products and technologies.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.