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Third-Party Opinion

 

[Image]Masahiko Kawamura

Masahiko Kawamura
Director of ESG Research & Senior Research Fellow,
NLI Research Institute

Profile
Master’s degree from the Faculty of of Engineering, Kyushu University, 1976. After working in Mitsui Ocean Development & Engineering Co., Ltd. (MODEC), entered NLI Research Institute in 1988. Specialist in environmental management, CSR management, environmental business, and integrated reporting. Vice Chairman of Sustainable Management Forum of Japan, Fellow of BERC, and Principal of CSR Members School, Alterna Research Institute.
Publications include The Perfect Guide to CSR Management, New Trends in Integrated Reporting (co-author), Carbon Disclosure (editor), etc.

This report starts with a clearly defined commitment towards realizing a sustainable society. Next, the Group’s Medium-Term CSR Plan, Sustainable Value Plan 2016 (SVP 2016) is presented together with details from the PDCA-cycle viewpoint using a number of diagrams and charts.

The practical application of SVP 2016 is then presented alongside Social Issues (Risks in international society) and the Group’s Basic Approach to such issues. Next, an Outline of Activities in FY2015 and Future Prospects are described in a concise manner, before concluding the report with Data and Information.

I can see the efforts that have been made to communicate the Group’s activities to readers. However, the total volume of information makes it somewhat difficult to grasp the progress and results of all the activities. I think it would be beneficial to insert a table that summarizes the targets, results, and prospects, or utilize a bullet style instead of a purely descriptive format.

Also, in Main Issues and Areas of Responsibilities in Communications with Stakeholders (page 58), the overall CSR management could be better understood if some links to the Priority Issues and Targets in SVP 2016 were included.

Top Commitment describes how the Group regards 2015 as a year of historic importance due to the agreements concerning Sustainable Development Goals (SDGs) and the Paris Agreement. The report states that the Group will make an active contribution to the sustainable development of society through its business. Such an advanced recognition of the times and social issues by senior management is still rare in Japanese corporations and this should be noted as a model.

Also, the Fujifilm Group’s CSR approach and structure are reasonable and easy to understand. The link between SVP 2016 and the Medium-Term Management Plan is also visible.

SVP 2016 states that “solving social issues through business activities” is an opportunity for growth (opportunities) that is equivalent to the “creation of shared value (CSV),” and “conscious on environmental and social impact within business processes” is equivalent to “social impact from the business (risks) in the CSR approach defined in ISO 26000 (international CSR standards).”

SVP 2016 focuses on social issues and integrates CSR and CSV at the management level. This is a new business model for the 21st century, which creates both economic and social value at the same time, as well as matching the model of “CSR Management 2.0” that I have proposed.

This year’s report is remarkable in terms of presenting the background and procedure of creating SVP 2016, and it also revises CSR materiality from the SDGs viewpoint (169 targets) associated with the comparison table. This is a wonderful CSR action plan.

I also note the awareness of human rights in overseas procurement, which has recently been in international focus. In particular, “elimination of product line stops caused by CSR risks at suppliers” in China is a result of efforts seldom made by Japanese companies. In the future, I would like to see reports on the status and issues concerning the primary suppliers in each region. The Group is now considering the establishment of a Human Rights Policy, and I believe that it is necessary for the Group to create its own global rules that can address the “soft laws” across the world as a part of risk management, in addition to being compliant with “hard laws” in each country or region as a prerequisite.

It seems that the next Medium-Term CSR Plan is already being discussed but the target year of the SDGs is 2030 and this cannot be achieved by a conventional three-year plan. As 2015 was the “first year of world sustainability,” major trends and social issues across the globe may change significantly. Therefore, the Group should create a long-term strategy and vision that keeps even 2050 in sight.

The Fujifilm Group has achieved the 2016 target, a 10% reduction of CO2 emissions from the product lifecycle compared to FY2005, as a part of its anti-global warming measures, and continues to make progress in its energy strategy towards the 2020 targets. In this sense, the Group needs to immediately create a super long-term vision in its aims to become a leader of the “non-carbon society” in the 21st century.

One point that concerns me is that there is no independent topics about climate change risks and “adaptation.” When the impact from climate change becomes more obvious, the Group’s own measures to adapt to this rising situation has the potential to be an “adaptation business.” As for global water risks, the Group has made a clear analysis of the current status and established a direction as shown in the CDP water program. I hope that the Group aims to become “water neutral” across the value chain in the medium to long term.

I anticipate that the Fujifilm Group will continue to make concrete actions as one of Japan’s representative companies.

Related Information

Download the PDF version here.



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