Sustainability Vision and Material Issues
To change society through the power of chemistry based on our purpose, we are strengthening our business execution system in accordance with the belief that we must position the concept of sustainability as an essential component of management. As part of these efforts, we have established Sustainability Vision 2030 and identified material issues for sustainability to implement the main strategies of our long-term vision. We are also working to raise awareness of the material issues within the Company.
Sustainability Vision 2030
Achieve corporate growth through the resolution of social issues
Develop into a company with like-minded partners across the world that realizes its own continuous growth and corporate value improvement, by solving social issues and offering value to society through its technologies and businesses
A company with like-minded partners throughout the world
Become a “Co-creative Chemical Company” that is the first choice of, and can choose, partners in creating a sustainable and better society, including future generations of customers, employees, investors, and stakeholders
Material Issues for Sustainability
With an eye on 2030, Resonac has identified three issues of materiality in addition to their constituent elements. We have reflected these issues of materiality in the strategies set out in the long-term vision, and aim to incorporate them into our nonfinancial KPIs by approximately 2025. The three issues of materiality are also related to the ideal state set out in our long-term vision through to 2030: becoming a company that can compete on the world stage, a company that contributes to a sustainable global society, and a company that develops co-creative talent that represents Japan’s manufacturing industry. In addition, they address both the achievement of our long-term vision and the expectations of society. While we have not set KPIs for corporate governance or stakeholder engagement, we will also focus on these areas, which are as important as our issues of materiality in establishing a common foundation for global management.
Identification of Material issues and Non-financial KPIs/Management Cycle
Resonac’s material issues consists of management issues that contribute to realizing its long-term vision in terms of both society’s expectations and degree of importance to the Company, with the Purpose as a starting point. Material issues, the opportunities and risks associated with them, and non-financial KPIs, are determined by reflecting the intent of the frontlines in each CXO area (function) and feedback from the entire management team at the Sustainability Promotion Council.
Materiality issues are reported to the Board of Directors and continually reviewed while exchanging opinions with internal and external stakeholders We will work to maximize corporate value by developing an environment that fuels long-term growth while contributing to the sustainability of society and the environment.
Material Issues for Sustainability(1)
Strengthen co-creation capabilities & competitiveness and create social value through innovation
Targets
We create social value through our businesses via a series of processes—from the identification of social issues to the development of technologies and the provision of solutions—and the harnessing of initiatives through co-creation.
Constituent elements
- Creation of social value through our businesses
- Marketing
- Open innovation
- R&D and Intellectual Property Strategies
- Digital transformation
Material Issues for Sustainability(2)
Gain credibility through responsible business management
Targets
In addition to cultivating a safety culture and eliminating accidents of every kind, we will earn the trust of stakeholders by minimizing and preparing to tackle a wide range of risks, including strategic, operational, and hazard risks, to flexibly address the changing management and business environments and continuously offer value that is unique to us.
Constituent elements
- Safety
- Quality Assurance
- Chemicals Management
- Environment
- Human rights
- Procurement
- Compliance
- Risk management
Material Issues for Sustainability(3)
Develop autonomous, creative, and active human resources and culture
Targets
Through the cultivation of creative and co-creative individuals and the nurturing of a corporate culture conducive to their development, we will aim to become a developer of talent whose employees are the envy of other companies.
Constituent elements
- Hire & Develop talent for the business
- Become an Employer of choice
- Develop self-driven professionals
- Cultivation of corporate culture conducive to co-creation