Approach to Disclosing Climate-related Information In Accordance with TCFD Recommendations


Since endorsing the Task Force on Climate-related Financial Disclosure (TCFD) in June 2020, we have updated our disclosures in line with TCFD recommendations. In March 2022, we disclosed our “Risks and Opportunities” and “Adaptive Measures” associated with climate change. The risks that will have the greatest impact on our business are (1) “suspension of production activities due to flooding and other damage caused by frequent extreme weather events” under the 4°C scenario, and (2) “increased environmental investments and expenses” to reduce greenhouse gas emissions in production activities under the 1.5°C scenario. We specifically identified these two risks and examined and calculated their countermeasures and financial impact.
In June 2023, we reflected this in the “Strategy” section.

Items recommended for disclosure by the TCFD

(Summarized by Fuji Electric based on the Recommendations of the Task Force on Climate-related Financial Disclosures (Final Report))

Timeline for Climate-related Financial Disclosures
  • June 2020: Endorsement of TCFD recommendations. In addition, disclosure on “Governance” in the disclosure requirements.

  • June 2021: Disclosure on “Risks and Opportunities” (2°C/4°C target base) in the “Strategy” disclosure requirements.

  • March 2022: Disclosure on same “Risks and Opportunities” (1.5°C/4°C target) and “Adaptation Measures.”

  • June 2023: Specific identification of significant “Risks” and disclosure of countermeasures and financial impact


Disclosed in June 2020
Updated in August 2023

  • Fuji Electric positions global environmental protection initiatives as a priority issue for management.

  • We established the SDGs Promotion Committee, a company-wide committee composed of managers (Executive Officers) from our various business, sales and corporate departments, to discuss issues and evaluate measures concerning the promotion of the SDGs, including those related to climate. (April 2020)
    The results of deliberations and evaluations by the Committee are reported to the Executive Committee* and the Board of Directors and discussed as necessary.

  • Through the promotion of Environmental Vision 2050, we will analyze the risks and opportunities that climate change poses for our business and value chains together with the financial impacts of these risks and opportunities, and we will incorporate them into our management strategy and proactively disclose the information.

  • In 2022, we held the SDGs Promotion Committee twice and reported on the deliberation results to the Executive Committee and the Board of Directors.
    [Main deliberation matters]
    - Measures to achieve decarbonization goals (FY2030) and a greenhouse gas emission reduction plan
    - TCFD “Impact of climate change risks on corporate activities”


Deliberates and reports on important management issues as an advisory body to the President.


Disclosed in June 2020
Updated in August 2023

Among the “Risks and Opportunities” under the “4°C scenario” and “1.5°C scenario,” we specifically identified the significant risks in both scenarios and discussed the measures to be taken and the financial impact.

Scenario Analysis

IEA: International Energy Agency          
IPCC: Intergovernmental Panel on Climate Change

The “Risks and Opportunities," which we recognize and the "Countermeasures,”which we should approach, are shown as below." (March 2022)

Risks indicated in bold are those we recognize as having a particularly significant impact on business (June 2023).

Identification of Significant “Risks” Recognized by Fuji Electric and Countermeasures and Financial Impact (disclosed in June 2023)

In light of the above, we identified risks, formulated countermeasures, and calculated the financial impact of “suspension of production activities due to flooding and other damage caused by frequent extreme weather events” and “increased environmental investments and expenses to reduce greenhouse gas emissions in production activities.”

Risk Management

Disclosed in March 2022

We recognize “risks related to climate change” as one of the “risks that may affect management” in the “Fuji Electric Risk Management Rules.” The year-round “risk management processes” set forth in the Rules are as follows.

Metrics and Targets

Disclosed in March 2022

Fuji Electric has formulated the Environmental Vision 2050 and has positioned its interim action goals, referred to as the Fiscal 2030 Goals, as “metrics and targets” that correspond to TCFD recommendations.
In March 2022, we revised our Fiscal 2030 Goals to establish new metrics for greenhouse gas emissions throughout the supply chain (Scope 1+2+3). Together with the existing metrics for GHG emissions in production activities (Scope 1+2), we have established the “metrics and targets” for Scope 1+2 and Scope 3 GHG emissions, which are items required for disclosure under TCFD recommendations. In the same year, our Scope1,2 and Scope3(1-8,11) targets were approved as 1.5˚C targets by the SBTi (Science Based Targets initiative).

Environmental Vision 2050

We aim to contribute to the achievement of a decarbonized society, a recycling-oriented society, and a society that is in harmony with nature by expanding the use of Fuji Electric's innovative clean energy technologies and energy-saving products.

Achieve a Decarbonized Society: Target carbon neutrality across the supply chain

Fiscal 2030 Goals