Nature-Related Information Disclosure (Disclosure Based on TNFD Recommendations)

Obayashi's Environmental Efforts

Under long-term Obayashi Sustainability Vision 2050 formulated in 2019, which enshrines "realizing sustainability of the planet, society, and people" as its Vision for 2050, the Obayashi Group and the entire supply chain have made efforts to achieve a sustainable society. In order to continue its corporate activities over the medium to long term, enhance corporate value, and contribute to society, the Group believes that it is necessary to be considerate to the global environment, which is a source of its corporate activities. The Obayashi Group Environmental Policy, established in 1997 and revised in 2023, sets out its aim to realize a decarbonized, recycling-oriented society that has respect for the natural world. To this end, the Group is working to mitigate the impact on the natural environment through overall business activities, such as greenhouse gas emission reduction, resource recycling, protection and regeneration of natural resources, and conserving biodiversity.

A world of living in harmony with nature was defined as the 2050 Vision in the Kunming and Montreal Framework for Biodiversity, a set of international goals for biodiversity conservation, which, in Japan, is addressed by the National Biodiversity Strategy of Japan. In addition to the Environmental Policy, in 2009 the Obayashi Group established the Biodiversity Policy and has worked on such initiatives as biodiversity conservation and greening. As contribution to nature positivity through business activities is expected to be of more importance in the future, we will be more committed to our efforts on decarbonization, recycling, and respect for the natural world.

In June 2023 Obayashi Corporation endorsed the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD), and since January 2024, as a registered TNFD Early Adopter, has worked to prepare for disclosure aligned with the TNFD Recommendations. The Company hereby discloses its nature-related dependencies, impacts, risks, and opportunities analyzed in line with the TNFD recommendations.

General Requirements

Application of materiality

In a bid to promote ESG management, in 2019, the Group identified six ESG-related material issues based on the Obayashi Basic Principles. We identified 22 issues that are relevant to the Obayashi Group as ESG issues from a comprehensive list of approximately 300 ESG issues, and evaluated them on two axes: stakeholders' interest and importance and impact in the Group.

Disclosure scope

In light of the size of impact of our business on nature and the needs of society, this disclosure covers construction business (design, construction) and extraction of raw materials of procured construction materials.

Location of nature-related issues

Nature-related issues are located in the following areas:

  • Construction business (design, construction): construction sites
  • Procured construction materials: extraction of raw materials of procured construction materials

Integration with other sustainability-related disclosures

This disclosure has been prepared aligned with the TNFD framework. We will work toward making an integrated disclosure for the TCFD disclosure and other sustainability-related disclosures.

Engagement with indigenous peoples, local communities and affected stakeholders in identifying and assessing the organization's nature-related issues

Obayashi Corporation sets out "value each person with a stake in our business" in the Obayashi Philosophy and clearly states "maintain appropriate relationships with stakeholders" in the Obayashi Code of Conduct. Making sure that knowledge learned through engagement with local communities and stakeholders will be reflected in our corporate management, we are committed to efforts on decarbonization, recycling, and respect for the natural world.

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