azbil Group’s materiality
Materiality identification process
To achieve sustainability management, we have incorporated double materiality (a concept that evaluates materiality from two aspects: financial evaluation of the impact of the environment and society on the company, and the impact of corporate activities on the environment and society) from the perspective of both opportunity and risk based on the azbil Group philosophy. In August 2022, we identified 10 material issues in five areas to be tackled over the long term. Subsequently, in FY2023, the appropriateness of these material issues was reaffirmed by the Management Meeting and Board of Directors after discussion and confirmation with external experts.
STEP1 Understanding and identifying issues
Based on various guidelines (e.g., SDGs, GRI Standards, SASB Standards), social issues were comprehensively identified as materiality candidates.
STEP2 Prioritizing issues
For materiality candidates, we identified opportunities and risks from the perspective of double materiality and evaluated their level of importance, taking into account several key issues obtained through various stakeholder engagements and advice from external experts.
Across five areas, we have identified materiality as 10 material issues of particular importance to the azbil Group and/or stakeholders. Among those important issues not included in this list are water resources, biodiversity, and environmental pollution.
STEP3 Confirming appropriateness
Following conferral with external experts, the Management Meeting and Board of Directors confirmed the validity of the 10 material issues and reaffirmed the azbil Group’s materiality in FY2023.
Materiality and Essential Goals of azbil Group for SDGs
Based on the identified materiality, we have formulated specific targets for FY2030 for seven material issues, related to our business and general corporate activities, within the domain of the SDGs as the essential goals of the azbil Group for the SDGs. For the other three material issues, which are fundamental obligations that a company must fulfill to be a member of society, we have established specific goals as part of our CSR activities. We are promoting sustainability management through various initiatives to achieve these goals.
Click here for more information about Essential Goals of azbil Group for SDGs.
Click here for more information about “Essential Goals of azbil Group for SDGs” “ FY2023 results, initiatives, and topics.”