With various global initiatives for achieving the Sustainable Development Goals (SDGs) adopted at the United Nations Summit, companies are growing aware that achieving sustainability is an important management priority.
The Oiles Group positively and actively tackles sustainability issues based on the spirit of "serving society through technology," expressed in our corporate philosophy, to achieve development and create new corporate value for the Group.
We position our contribution to solving the sustainability issues exemplified by Environment, Society, and Governance as the mainstay of our corporate activities and promote various initiatives to do so.
Achieving sustainability depends upon fostering a corporate culture in which each and every employee views sustainability as a key value under the leadership of top management. The Oiles Group holds its Sustainability Promotion Council twice a year, chaired by the President and attended by all directors and operating officers. At this meeting, management deliberates on initiatives and progress regarding sustainability issues such as our environmental response and diversity, as well as matters concerning important sustainability issues. Under the Sustainability Promotion Council, we have established a Sustainability Committee chaired by the director in charge of sustainability. The Sustainability Committee promotes key sustainability issues for the Oiles Group and it discusses matters identified in the PDCA cycle. It reports important matters to the Sustainability Promotion Council.
In addition, six sub-committees organized to promote each sustainability issue operate under the Sustainability Committee, working to resolve each issue.
The Oiles Group recognizes that sustainable corporate growth is important to creating and developing new corporate value. That growth is based on our further development of non-financial capital (human, manufacturing, intellectual, natural, and social and relationship capital). That development has thus been identified as “Materiality for Sustainable Growth.” By enhancing our efforts regarding this materiality, we intend to help resolve social issues, including the SDGs, and pursue the sustainable growth of the Oiles Group and the enhancement of its corporate value.
Step 1: Identifying the social issues to be addressed
Based on sources that include international standards such as ISO 26000, major guidelines, external ratings, and international integrated reporting frameworks, we identified more than 50 social issues that companies are expected to address to achieve sustainable growth.
Step 2: Analyzing the importance to society and stakeholders (vertical axis assessment)
We assessed the level of importance of the issues identified above to society and stakeholders (vertical axis assessment) while referring to the assessment parameters of ESG assessment organizations and survey items from customers.
Step 3: Analyzing the level of importance to the management of the Oiles Group (horizontal axis assessment)
We added the issues identified above to the Long-Term Vision and assessed their importance to the management of the Oiles Group from the perspectives of both our new Medium-Term Management Plan and the implementation of each department's plans (horizontal axis assessment).
Step 4: Identification of materiality
Based on the materiality matrix derived from assessments on the vertical and horizontal axes above, the Sustainability Promotion Council, which consists of management, identified materiality for the sustainable growth of the Oiles Group.
