Notice of Updates "Climate Change Countermeasures / Task Force on Climate-related Financial Disclosures (TCFD)"

July 24, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) recognizes climate change measures as one of its important managements issues and has expressed its support for the recommendations of the TCFD(Note) and promoted various initiatives required by the TCFD. We are pleased to announce that we have updated" Climate Change Countermeasures / Task Force on Climate-related Financial Disclosures (TCFD)" on our website as follows.
URL：https://www.mol.co.jp/en/sustainability/environment/tcfd/

【Main updates】

• Added details such as participants and agendas of each meeting to "1. Governance"
• Added description of stranded asset risk in "2. Strategy (3) Financial impact"
• Added many examples of specific initiatives related to the environmental vision to "2. Strategy (6) Migration Plan"

The MOL Group was one of the first companies to endorse the TCFD's recommendations in 2018, at the dawn of the TCFD, and was Japan's first shipping company to begin disclosures using the framework. Since then, we have been enhancing the content of our disclosures in our annual revisions so that our stakeholders can deepen their understanding of the Group's decarbonization efforts. We will continue to actively disclose information in the future.

Under MOL Group corporate philosophy of 'Supporting people's daily lives from the blue sea and opening up a prosperous future', our group aims to deliver new value to all stakeholders and become a strong and flexible corporate group that grows globally by not only increasing economic value but also social value.

(Note)

• Task Force on Climate-related Financial Disclosures (TCFD) is a task force established by the Financial Stability Board (FSB) at the request of the G20 to identify and disclose the financial implications of risks and opportunities posed by climate change. In June 2017, the FSB released its recommendations on voluntary disclosure.

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision. We anticipate this initiative to contribute especially to the realization of "Environment -Conservation for Marine and global environment-."