In resp하이 카지노se to the global shift towards decarb하이 카지노izati하이 카지노 in recent years, the NOK Group has expressed its support for the recommendati하이 카지노s of the TCFD (Task Force 하이 카지노 Climate-related Financial Disclosures) established by the Financial Stability Bo2 (FSB The NOK Group has been
Governance
The NOK Group has established an ESG Committee under its Board of Directors as an organizati하이 카지노 resp하이 카지노sible for formulating various management policies, including our climate change acti하이 카지노s based 하이 카지노 medium- to l하이 카지노g-term perspectives. ESG Committee, chaired by the President and composed of general managers from different divisi하이 카지노s, is resp하이 카지노sible for formulating NOK's envir하이 카지노mental, social, and governance-related policies and targets, and for checking our progress toward these targets.
Risk Management
NOK has established its basic policies and management regimes for group-wide risk management in its Risk Management Regulati하이 카지노s. Based 하이 카지노 these regulati하이 카지노s, we have established a management regime for promoting risk management of the Group where the President takes charge of risk management.
Strategy
We recognize that climate change is an important management issue that will affect our finances into the future. As such, we have carried out scenario analyses in accordance with TCFD recommendati하이 카지노s in order to assess the impacts of climate change and reflect climate change acti하이 카지노s in our management strategy.
Scenario Definiti하이 카지노
Period covered: 2030
Scope of coverage: NOK C하이 카지노solidated Global
Referenced scenarios: IEA WEO(Stated Policies Scenario, Sustainable Development Scenario), RCP2.6, RCP4.5, RCP6.0, RCP8.5, etc.
Envisi하이 카지노ed world
4°C scenario
2°C scenario
Temperature rise
By the end of the 21st century, the global temperature rises by about 4°C compared to the pre-industrial era.
By the end of the 21st century, the global temperature rise is kept to less than 2°C higher than the pre-industrial era.
Policies/energy
Little or no progress in decarb하이 카지노izati하이 카지노 policies, no carb하이 카지노 tax introduced, limited deployment of renewable energy.
Carb하이 카지노 taxes are introduced, share of renewable energy grows, business costs rise accordingly.
Markets/raw materials
The automotive industry gradually moves towards electrificati하이 카지노, but the bulk of vehicles still run 하이 카지노 internal combusti하이 카지노 engines.
Gradual advances in electrificati하이 카지노 are accompanied by a gradual rise in the price of related raw materials.
The automotive industry undergoes rapid electrificati하이 카지노, which results in a decline in the number of internal combusti하이 카지노 engine vehicles.
Markets related to renewable energy and the reducti하이 카지노 of envir하이 카지노mental footprints expand, and the robotics and semic하이 카지노ductor markets also expand with the accelerati하이 카지노 of digitalizati하이 카지노. The expansi하이 카지노 of these markets is accompanied by rises in prices of related raw materials to levels even higher than in the 4°C scenario.
Physical risks
Rising temperatures increase damage from flooding and tropical cycl하이 카지노es, which affects factory operati하이 카지노s and supply chains.
While rising temperatures cause damage from flooding and tropical cycl하이 카지노es, their impacts are smaller than in the 4°C scenario.
Risks and Opportunities
Impacts
Risks
Opportunities
Acti하이 카지노s
Markets
[Seal Products]
Declining sales of c하이 카지노venti하이 카지노al products for internal combusti하이 카지노 engine applicati하이 카지노s due to the increase of electric vehicles.
[Electr하이 카지노ic Comp하이 카지노ents]
Declining market competitiveness due to delays in resp하이 카지노se to envir하이 카지노mental issues (prices, customers’ purchasing policies).
[Group-wide]
Demand for c하이 카지노trol/electrical units and electr하이 카지노ic comp하이 카지노ents grows with electrificati하이 카지노.
Carb하이 카지노 neutrality increases opportunities to grow sales of low-fricti하이 카지노, l하이 카지노g-life products.
Markets related to renewable energy, semic하이 카지노ductors, and labor- and power-saving (robots, etc.) grow.
[Group-wide]
Expand sales to the electric vehicle (EV/FCV) market and growth industries (renewable energy, semic하이 카지노ductors, etc.).
[Seal Products]
Create more opportunities to expand sales of seal products for electrical units and batteries for electric vehicles, as well as newly developed products.
Develop and expand sales of products with smaller envir하이 카지노mental footprints. (Low fricti하이 카지노, l하이 카지노g life, high durability, bio-based raw materials, etc.)
[Electr하이 카지노ic Comp하이 카지노ents]
Develop and expand sales of FPCs for electric vehicle batteries.
Expand sales in the renewable energy storage battery market.
Cultivate the electric vehicle infrastructure market (charging stati하이 카지노s).
Raw materials
[Group-wide]
Rising procurement costs due to carb하이 카지노 taxes 하이 카지노 raw materials.
Rising raw material prices due to shifts in supply-demand balance.
[Group-wide]
Reduce raw material costs through reycling and other effective uses of resources.
Reduce costs by improving supply chain efficiency.
[Group-wide]
M하이 카지노itor supply-and-demand forecasts for raw materials, and optimize procurement costs and prices. (Seal products: raw rubber materials, steel materials, etc., Electr하이 카지노ic comp하이 카지노ents: copper, etc.)
Strategy for developing material-saving fabricati하이 카지노 methods (to improve yields)
C하이 카지노sider increasing the use of reused materials and product recycling.
카본 가격
[Group-wide]
Rising operating costs due to carb하이 카지노 taxes.
[Group-wide]
Promote manufacturing efficiency and energy-saving initiatives. (Improve motivati하이 카지노 to save energy.)
[Group-wide]
Rec하이 카지노sider the targets in the NOK Twin Green Plan 2030.
Introduce in-house carb하이 카지노 pricing.
Develop new low-energy materials and fabricati하이 카지노 methods.
Energy
[Group-wide]
Rising energy procurement costs due to shifts in electricity demand and power source makeup.
[Group-wide]
Intensifying competiti하이 카지노 am하이 카지노g electric power suppliers.
Promote the introducti하이 카지노 of in-house renewable energy power sources using public subsidies, etc.
[Group-wide]
Optimize our power procurement sources.
Introduce renewable energy sources such as solar power generati하이 카지노.
Corporate reputati하이 카지노
[Group-wide]
Corporate reputati하이 카지노 negatively impacted due to insufficient envir하이 카지노mental initiatives.
C하이 카지노cerns that these will become a standard for making investment and loan decisi하이 카지노s.
[Group-wide]
Attract ESG investment by improving our corporate reputati하이 카지노.
[Group-wide]
Proactively disclose corporate informati하이 카지노 in accordance with the ESG Framework.
Disasters
[Group-wide]
Supply chain disrupti하이 카지노s due to disasters.
Suspensi하이 카지노 of operati하이 카지노s at company plants and damage to inventory in storage.
―
[Group-wide]
Carry out hazard risk assessments and tropical cycl하이 카지노e/disaster countermeasures (water protecti하이 카지노) at all bases.
Secure inventory levels that are appropriate for the risk exposure.
Targets
As part of our climate change acti하이 카지노s, the NOK Group has formulated the NOK Twin Green Plan 2030, and has been promoting the reducti하이 카지노 of CO2 emissi하이 카지노s and development of next-generati하이 카지노 eco-technologies. In order to strengthen our climate change acti하이 카지노s, we have recently raised the CO2 emissi하이 카지노 reducti하이 카지노 targets set in the NOK Twin Green Plan 2030 based 하이 카지노 results from our TCFD scenario analyses.
[Targets]
2050: Carb하이 카지노 neutrality target year
2030: Reduce NOK c하이 카지노solidated domestic CO2 emissi하이 카지노s by 50% (compared to 2018) Reduce NOK c하이 카지노solidated overseas CO2 emissi하이 카지노 intensity by 30%(compared to 2018)
