JFE Holdings

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

No leading practices were identified for this company.

JFE Holdings has established a target to reduce carbon dioxide emissions by 30% or more by the fiscal year 2030 compared to 2013 levels, taking into account advancements in measures for carbon neutrality and improvements in the external environment within the steel sector. Additionally, it declared its commitment to achieving carbon neutrality by 2050, preceding the Japanese government’s announcement of a similar goal. JFE Holdings also reports its total emissions and activity data necessary for emissions intensity calculations. However, the company’s emissions reduction targets are not science-based. Furthermore, it has not set any target related to its scope 3 emissions.

JFE Holdings’ discloses detailed key performance indicators (KPIs) for each climate change indicator and target within its plans. The company has also outlined concrete strategies and timelines as part of its 2050 climate vision. Additionally, JFE Holdings has conducted scenario analysis using three scenarios for short-, medium- and long-term perspectives, revealing both opportunities and risks to aid in developing its transition plan. While the company details its climate change scenario analysis, it presents the results qualitatively rather than quantitatively, and it describes financial viability estimates rather than explicitly quantifying them. Despite the company having a comprehensive transition plan, there is no evidence of a review or update process for this plan. Furthermore, though the company has assigned the JFE Group Environmental Committee with responsibility for monitoring progress and enhancing environmental performance, the lack of a defined timescale or stakeholder feedback process raises questions about the effectiveness of these measures.

JFE Holdings discloses its research and development (R&D) expenditure over the past three years, including its investments in low-carbon technologies. It has set a KPI to reduce carbon dioxide emissions through its procurement of renewable electricity. It is also promoting hydrogen utilisation in the steelmaking process. Furthermore, the company discloses that it has introduced the Double-slag Refining Process (DRP®) to increase the use of scrap iron, and it has initiated this process in all of its steelmaking facilities. However, there is a lack of quantitative data concerning JFE’s investment in non-mature climate technologies. The company discloses that it is collaborating with its iron ore suppliers to develop a new raw material processing technology for low- and medium-grade ores. However, it needs to disclose the maturity of its existing interventions. While the company has collaborated on developing new hydrogen reduction ironmaking technology, it hasn’t specified the proportion of procurement spending allocated to environmentally engaged suppliers. The company can improve specificity and transparency in relation to its supply chain strategy.

JFE Holdings is actively involved in various steel industry initiatives addressing climate change. It shows a commitment to environmental issues by endorsing the TCFD recommendations and aligning itself with international low-carbon commitments. Additionally, it participates in sector-specific initiatives to combat climate change. However, there is no clear evidence of a specific company policy guiding its engagement with alliances, associations, coalitions, or think tanks in the area of climate change.

JFE Holdings has established a target to reduce carbon dioxide emissions by 30% or more by the fiscal year 2030 compared to 2013 levels. Furthermore, the company declared its commitment to achieving carbon neutrality by 2050, preceding the Japanese government’s announcement of a similar goal.

JFE Holdings aims to reduce carbon dioxide emissions by 18% by the end of fiscal year 2024 compared to 2013 levels. Additionally, the company discloses detailed low-carbon strategies for its subsidiaries JFE Engineering, JFE Steel and JFE Shoji, as well as for its group-wise activities, which jointly support the company’s transition plan. The company’s disclosure of its low-carbon R&D and its declining emissions trend also strengthen the credibility and consistency of its transition plan.

JFE Holdings aims to reduce carbon dioxide emissions by 18% by the end of fiscal year 2024 compared to 2013 levels. However, Its emissions data from 2017 does not show a constant declining trend.

JFE Holdings is actively pursuing several initiatives to reduce its carbon footprint. These include setting a KPI to decrease carbon dioxide emissions by procuring renewable electricity, promoting hydrogen utilisation in steelmaking, and implementing the Double-slag Refining Process across all its steelmaking facilities to increase the use of scrap iron.

JFE Holdings aims to reduce carbon dioxide emissions by 18% by the end of fiscal year 2024, compared to 2013 levels, mainly through R&D of new technologies and pursuing ultra-innovative technologies. Corresponding to this, the company discloses its investment in low-carbon R&D since 2017, constituting around 25% of its total R&D investment.

The company publicly discloses a commitment to engaging in social dialogue with workers and unions. However, no relevant disclosure was found regarding the categories of stakeholders it engages with on a just transition. Nor was there any evidence to show the company’s ongoing social dialogue and meaningful engagement with affected stakeholders.

No evidence was found of the company undertaking low-carbon transition planning to mitigate the social impacts of the transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in its just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s action to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found of the company’s assessment of employment dislocation risks. Further, no public commitment by the company was found stating its intention to reskill and upskill workers displaced by the transition to a low-carbon economy. Additionally, no evidence was found that the company reskills and upskills workers in a way that ensures gender balance and inclusion of vulnerable groups.

No relevant disclosure was found to show if the company identifies the impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to their social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders.

No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

The company commits to respecting human rights but does not have a commitment for the ILO fundamental rights at work. It does, however, expect its business relationships to respect the ILO fundamental rights at work. There is evidence to show the company has a process to identify, assess and mitigate salient human rights risks in its own operations and supply chain. No evidence was found of the company disclosing the stakeholders whose human rights have been affected by its activities. The company does, however, have a grievance mechanism available to workers and external stakeholders.

The company commits to worker health and safety. However, there is no evidence that it supports gender equality, nor does it disclose sufficient information on collective bargaining and workforce diversity. The company can strengthen its disclosure on these subjects, as well as on its living wage and working hours practices.

The company commits to protecting personal data. However, no evidence was found of the company having a privacy statement regarding the collection, sharing and access to personal data. Furthermore, the company does not disclose its global tax strategy, and there is no relevant disclosure available to show the corporate income tax it pays in each relevant jurisdiction. _x000D_
The company does not have a policy prohibiting bribery and corruption, nor a lobbying and political engagement policy. Moreover, it does not specify that it does not make political contributions, and no relevant disclosure was found of the company’s expenditure on lobbying activities.