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Furukawa Electric Group’s efforts towards the SDGs

Furukawa Electric Group’s efforts towards the SDGs

Sustainable Development Goals (SDGs)

The 2030 Agenda for Sustainable Development (the 2030 Agenda) is a set of international development goals from 2016 to 2030, which was adopted by the UN Sustainable Development Summit held in September 2015 building on the success of Millennium Development Goals (MDGs).
The 2030 Agenda listed “Sustainable Development Goals” consisting of 17 goals and 169 targets in order to eradicate poverty and realize a sustainable world. The SDGs are universal goals applicable, not only to developing countries but also developed countries, and pledge “Leave no one behind.” through the implementation process.

SDGs and the Furukawa Electric Group

Based on the “SDGs”, the Furukawa Electric Group has formulated the “Furukawa Electric Group Vision 2030” which sets the year 2030 as its target and is advancing efforts with the aim to “Build a sustainable world and make people’s life safe, peaceful and rewarding, Furukawa Electric Group will create solutions for the new generation of global infrastructure combining information, energy and mobility.” Toward the achievement of our Vision 2030, we will take open, agile, and innovative approaches to promote ESG management that that aims to increase corporate value over the medium to long term and will contribute to the achievement of the SDGs.

Important Management Issues (Materiality) and Corporate Value

The SDGs that are highly relevant to identified materiality are associated with multiple SDG targets. We defined “materiality” as important management issues that the Group should address in order to achieve Vision 2030. The materiarities that we identified in terms of both revenue opportunities and risks are associated with the corporate value. From the perspective of revenue opportunities, we will tackle the “Creating businesses that solve social issues” through both the “Open, Agile, Innovative,” which reflects  the desire to become a company that actively transforms itself, and the “Building partnerships with various stakeholders,” focusing on collabolation with outside partners. Then, we will improve capital efficiency including cost of capital. On the other hand, from a risk perspective, we will "develop business activities that consider climate change," because it is essential for companies to achieve sustainable growth. In addition, in order to become a company that actively transforms itself, we will "strengthen human capital management and organizational execution abilities." Furthermore, we will "build a governance system to strengthen risk management” including corporate governance. Through those materialities of risk, we will strengthen the foundation of ESG management, and then we will reduce our cost of capital.

Consideration of SDGs Priority Issues Based on Value Chain Mapping

Using the value chain mapping of the SDG compass, we examine whether the Group’s current major products contribute to the 17 goals and 169 targets of the SDGs, and we are proceeding to identify the Consideration of SDGs Priority Issues Based on Value Chain Mapping SDGs that the Group should prioritize. Here, we would like to introduce the results of discussions by all of our executive officers and senior fellows that have distinctive effects and impacts.

Communications Solutions Optical fiber & cable products

〈Increasing positive impacts〉
Optical fiber and cable products will contribute to the development and expansion of sustainable and robust communication infrastructure, as well as safe and resilient urban development, in light of the progress of 5G and the further increase in communication traffic caused by the COVID-19 crisis.
〈Minimizing negative impacts〉
As we recognize that reducing greenhouse gas (GHG) emissions in the manufacturing process is an important issue, we are promoting various measures such as energy saving at manufacturing plants.

Energy Infrastructure Submarine transmission cables for offshore wind power generation

〈Increasing positive impacts〉
We will contribute to the realization of a decarbonized society by supplying and laying submarine and underground cables, which are indispensable for building interconnections between renewable energy power sources such as offshore wind power generation and power grids.
〈Minimizing negative impacts〉
In the process of laying submarine cables, we are taking care to minimize the impact on the marine environment.

Automotive Products Aluminum wire harnesses

〈Increasing positive impacts〉
The use of wire harnesses that use aluminum wires, which are lighter than copper, contributes to the realization of a decarbonized society by reducing the weight of automobiles and improving energy consumption through an improvement in fuel efficiency.
〈Minimizing negative impacts〉
With regard to energy use in the manufacturing process, we are promoting an improvement in the ratio of renewable energy use, in addition to energy saving at manufacturing plants.

Electronics Component Materials Oxygen-free copper wire

〈Increasing positive impacts〉
Oxygen-free copper wire is used in drive motors for electric vehicles and hybrid vehicles. The use of this product improves the efficiency of clean energy utilization and contributes to the realization of a decarbonized society.
〈Minimizing negative impacts〉
In the manufacturing process, we will increase the percentage of recycled copper and make effective use of natural resources.

Functional Products Thermal products

〈Increasing positive impacts〉
Thermal products with high-performance heat dissipation and cooling mechanisms improve the efficiency of energy consumptionand reduce running costs at datacenters.
This is one of the applications of these products and this positive impact in terms of power consumption volume has attracted worldwide attention. They also contribute to high-speed and high-capacity
〈Minimizing negative impacts〉
With regard to energy use in the manufacturing process, we are promoting an improvement in energy saving and the ratio of renewable energy use at manufacturing subsidiaries.

Activities for in-house penetration

the Group is promoting efforts to help employees understand the connection between the SDGs and the their services. While promoting businesses that start with social issues, the Group is promoting activities so that employees can develop activities with an awareness of the SDGs in their own work.

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