YAMASHIN-FILTER’s ESG-driven Management
In line with our corporate philosophy of “仕濾過事” (Rokajinitsukafuru) or “Contribute to society through filtration business,” and with the aim of helping to realize a sustainable society, YAMASHIN-FILTER is contributing toward solving social issues relating to Environment, Air and Health, by making effective use of the strengths that we have cultivated in our filter business.
Since our company was first founded over half a century ago, we have remained committed to taking our corporate philosophy of “仕濾過事” (Rokajinitsukafuru) or “Contribute to society through filtration business” as the company’s sustainability strategy. Going forward, while taking into account the positive and negative impacts that the YAMASHIN-FILTER Group’s business activities have on society and on the environment, we will promote ESG-driven management that reflects the expectations and concerns of our many different categories of stakeholders.
仕濾過事” (Rokajinitsukafuru) - “Contribute to society through filtration business”
In line with our corporate philosophy of “仕濾過事” (Rokajinitsukafuru) or “Contribute to society through filtration business,” and with the aim of helping to realize a sustainable society, YAMASHIN-FILTER is contributing toward solving society’s problems relating to Environment, Air quality and Health, by making effective use of the strengths that we have cultivated in our filter business.
We established the Yamashin Sustainable Solutions (YSS) Committee as an advisory body for the President in FY2021. The committee is chaired by the head of the Management Planning Office, who also serves as an executive director, and has a total membership of around 20 people, including all of the company’s executive officers.
The YSS Committee meets once a month to discuss initiatives relating to promotion of the United Nations Sustainable Development Goals (SDGs) and ESG. The content of their discussions is reported to the Board of Directors and the Management Conference. Recently, the committee has been undertaking discussion regarding initiatives in response to the TCFD Recommendations.
Following the process outlined in the GRI sustainability reporting standards, and in line with our corporate philosophy of
“仕濾過事” (Rokajinitsukafuru) or “Contribute to society through filtration business” and with YAMASHIN-FILTER’s approach to value creation, we have identified materiality (key issues) for the Group. To determine these materiality items, the YSS Committee took a wide-ranging look at social and environmental issues, followed by a six-month period of discussion of the company’s relationship and approach to these items, after which the materiality items were approved by the Management Conference.
Collation of issues
- Candidate materiality items were identified with reference to the items included in relevant guidelines and frameworks, considering their relevance to the YAMASHIN-FILTER Group’s business areas and key initiatives.
- Candidate materiality items were collated by theme from the two perspectives of the company’s ability to contribute to social development (positive impacts) and the fundamental social responsibility that the company bears (negative impacts).
- Study sessions for executive officers were held to deepen understanding of these candidate items.
Referenced guidelines, frameworks, etc.:
GRI, ISO 26000, SDGs, ESG evaluation items from FTSE and MSCI
Assessment of importance and formulation of draft proposals
- The importance of the candidate materiality items collated in Step 1 was assessed based on two criteria: impact on stakeholders, and importance to the YAMASHIN-FILTER Group. Weighting was attached to each materiality item based on a survey of executive managers.
- A draft version of the materiality and commitments was drawn up.
Confirming appropriateness and obtaining organizational approval
- When formulating and discussing the draft materiality and commitments, meetings at which the YSS Committee exchanged views with external experts and internal discussion meetings were held over a period of more than six months.
- Eight materiality items and the associated draft commitments were reported to and approved by the Management Conference.
Based on the materiality that we have identified, going forward we will be formulating the strategies that need to be implemented, and putting in place the required management system, including the setting of key performance indicators (KPIs) for each materiality item, the assignment of managerial responsibilities and determination of management methods, etc. We will also be implementing a Plan – Do – Check – Act (PDCA) cycle, making revisions as necessary in line with stakeholders’ expectations and requests regarding materiality, and with social trends, changes in the business environment, and the progress made in relevant initiatives.