With climate change, geopolitical risks, and other events threatening the sustainability of humankind, corporations are expected to play a leading role in addressing human rights issues, environmental devastation, and myriad other sustainability challenges.
Epson has identified four material topics that it can address to help solve these societal issues. They are (1) achieving sustainability in a circular economy, (2) advancing the frontiers of industry, (3) improving the quality of life, and (4) fulfilling our social responsibility. We are now working in line with Epson's value creation story to solve issues and provide value.
Materiality lies at the heart of management at Epson. We identified material topics based on societal issues, and our business activities are entirely geared toward finding solutions. In other words, sustainability is the vehicle that will drive Epson's corporate growth. We regard the current social environment, in which corporations are expected to respond to societal issues, as an accelerator. By focusing more tightly on solutions, we aim to grow together with society.
In 2019, Epson joined the Responsible Business Alliance (RBA), a global coalition dedicated to corporate social responsibility (CSR) in global supply chains. We are now executing actions to strengthen our labor, health and safety, environment, governance, and other value creation platforms in line with the RBA Code of Conduct.
In line with our environmental vision, we advanced toward decarbonization in FY2021 by switching to renewable electricity at all our domestic plants and offices. We have also adopted the TCFD recommendations to demonstrate the sustainability of our business operations. We continue to assess the quantitative financial impact of climate change from both a risk and opportunity perspective and to disclose the results.
In April 2022, we revised our Human Rights Policy. We continue to fulfill our duty to uphold human rights in cooperation with local communities and suppliers while working to strengthen the foundation of all corporate activities around the world.
The corporate purpose that we established this September defines the role that the Epson Group serves in society. Our reason for being is "to create sustainable value by using our efficient, compact and precision technologies to enrich people and our planet," and we are evolving toward sustainable management that solves societal issues and drives corporate growth.
