The Sustainable Development Goals (SDGs) were adopted at the UN Sustainable Development Summit in 2015, and sustainable goals to be achieved by 2030 were set. They include goals relating to water, energy, resources, climate change, and other issues. Since Paris Agreement came into effect in 2016, ESG investment, in which the environment, society, and governance are took into is accelerated. Also, the proposal of the Task Force on Climate-related Financial Disclosures (TCFD) was released. As stated above, business enterprises are being called on to undertake environment preservation initiatives from a variety of perspectives.
With the aim of contributing to solving issues and achieving sustainable growth, Mitsubishi Motors has identified key CSR issues (material issues) and is carrying out CSR activities based on those material issues. Regarding the environment in particular, we identified six issues: Responding to climate change and energy issues, Deploying supply chain sustainability initiatives, Conservation of water resources, Resource recycling initiative, Prevention of pollution, and Preservation of biodiversity.
In regard to Responding to climate change and energy issues, a topic of extremely high interest among stakeholders, we are working to reduce CO2 emissions throughout the product life cycle from production to use and disposal. CO2 emissions are greatest during the use stage of an automobile's life cycle, and therefore, we have made efforts in the past to develop and sell electric-powered vehicles such as electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) and to establish charging facilities and other infrastructure. We also plan to expand and improve electric-powered vehicles even further and contribute to the development of overseas infrastructure in Southeast Asia and other regions in the future. In addition, we are working to continuously raise productivity in production activities and introduce renewable energy including solar power.
Stakeholder interest is also quite high in Deploying supply chain sustainability initiatives and Conservation of water resources, and we are reinforcing collaboration with business partners to reduce hazardous substances used in products, investigating water risks at production sites in each country, and promoting water recycling and other initiatives.
We are also supporting Resource recycling initiative by improving the recyclability of electric-powered vehicles and reducing waste in production activities.
Mitsubishi Motors established the "Environmental Vision 2020" and is working to achieve the specific targets in the "Environment Initiative Program 2019", however, demands from society require even higher levels of environmental initiatives, and these initiatives have become our responsibility. The automobile industry is confronting a transformation to new mobility made possible by Artificial Intelligence (AI) and the Internet of Things (IoT), such as connected cars, autonomous drive, practical application of car sharing and other developments. We have started to investigate our next environmental vision in light of needs to take environmental action and changes in the mobility society so that we can present long-term action policies and objectives. This vision will be established as a pillar of management, and we will formulate our next mid-term environmental action plan.
We will continue to take steady action in response to CSR issues so that we can contribute to the sustainable development of society, and move forward as a company that contributes to society and the environment into the future.