Mitsubishi Corporation (MC), since its establishment, has held the Three Corporate Principles as its core philosophy, and aims to contribute to the sustainable development of society by conducting its global business activities with integrity and fairness in line with these principles. Midterm Corporate Strategy 2021 expands upon this commitment and compels us to pursue businesses that generate value for societies by simultaneously generating economic, environmental and societal value as an essential part of our sustainable growth as a company.
Following deliberation by the Executive Committee and the Board of Directors, we have identified a number of Key Sustainability Issues for MC (Materiality) for management to address in order to ensure our sustained growth as a company, with the aim of simultaneously realizing these three types of value. As we grapple with the challenges posed by these issues, MC will strive to achieve sustainable growth, including in the financial sense, while more actively pursuing business opportunities that add value to society. Furthermore, by responding to each Key Sustainability Issue through these initiatives, MC is also contributing to the achievement of the UN Sustainable Development Goals (SDGs).
The need to find solutions to the challenges facing the global environment and society is becoming urgent, and expectations upon the private sector to be part of those solutions are also increasing. With the expansion of ESG investment in recent years, investors are increasingly looking at how the companies they invest in are addressing environmental and social issues from a long-term perspective in order to assess their potential for sustained growth. Through proactive dialogue with our stakeholders, including by expanding information disclosure in line with the recommendations of the TCFD*1, MC will work to grasp the needs and expectations of society, and in addition to supporting the United Nations Global Compact*2, we will fulfill our responsibilities as a member of the global community.
The MC Group, which has achieved growth by boldly shifting our business models in line with societal changes, will continue to help provide solutions, including with respect to global agenda items such as responding to climate change, through our business.
*1 Voluntary disclosure framework formulated by the TCFD (the Task Force on Climate-Related Financial Disclosures, launched by the UN Financial Stability Board) stipulating information that companies and other entities should disclose to financial markets, with the aim of helping those markets to appropriately evaluate the risks and opportunities presented by climate change. The General Manager of MC's Corporate Sustainability & CSR Department has been a member of the TCFD since January 2018.
*2 A United Nations initiative for businesses and other organizations to support 10 universal sustainability principles in the fields of human rights, labor standards, environment and anti-corruption. MC declared its support for this initiative in 2010.