Hitachi Energy – We have launched our Sustainability Report 2024
Sustainability is part of Hitachi Energy’s DNA and is embedded in our Purpose – ‘advancing a sustainable energy future for all’.
Our report covers the fiscal year 2023 in terms of actions taken and the progress made, and it captures our commitment to reporting openly and comprehensively on the sustainability aspects of our business strategy, covering environmental, social, and governance (ESG) dimensions.
Decisions we make now and in the near-term have a profound impact for decades to come, especially given the long-term nature of energy infrastructure. We have a significant role to play in creating enduring benefits for people and the planet through innovation and collaboration. Let’s continue to strengthen collaboration across sectors and countries to advance the world’s energy system to be more sustainable, flexible, and secure.
We must not rest until the job is done.
SourceHitachi Energy
EMR Analysis
More information on Hitachi Energy: See the full profile on EMR Executive Services
More information on Andreas Schierenbeck (Senior Vice President and Executive Officer, Hitachi, Ltd + Chief Executive Officer, Hitachi Energy Ltd): See the full profile on EMR Executive Services
EMR Additional Notes:
- ESG (Environmental, Social and Governance):
- Refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. Most socially responsible investors check companies out using ESG criteria to screen investments.
- ESG metrics are not commonly part of mandatory financial reporting, though companies are increasingly making disclosures in their annual report or in a standalone sustainability report.
- There is not a standardized approach to the calculation or presentation of different ESG metrics.
- Environmental: Conservation of the natural world
- Climate change and carbon emissions
- Air and water pollution
- Biodiversity
- Deforestation
- Energy efficiency
- Waste management
- Water scarcity
- …
- Social: Consideration of people & relationships
- Customer satisfaction
- Data protection and privacy
- Gender and diversity
- Employee engagement
- Community relations
- Human rights
- Labor standards
- …
- Governance: Standards for running a company
- Board composition
- Audit committee structure
- Bribery and corruption
- Executive compensation
- Lobbying
- Political contributions
- Whistleblower schemes
- …
- Environmental: Conservation of the natural world
- Criteria are of increasing interest to companies, their investors and other stakeholders. With growing concern about he ethical status of quoted companies, these standards are the central factors that measure the ethical impact and sustainability of investment in a company.
- Consequently, ESG analysis considers how companies serve society and how this impacts their current and future performance.
- CSR (Corporate Social Responsibility):
- Framework or business model that helps a company be socially accountable to itself, its stakeholders, and the public.
- The purpose of CSR is to give back to the community, take part in philanthropic causes, and provide positive social value. Businesses are increasingly turning to CSR to make a difference and build a positive brand around their company.
- CSR tends to target opinion formers – politicians, pressure groups, media. Sustainability targets here the whole value chain – from suppliers to operations to partners to end-consumers.
- CSR vs. ESG:
- CSR is a company’s framework of sustainability plans and responsible cultural influence, whereas ESG is the assessable outcome concerning a company’s overall sustainability performance.
- The major difference between them is that CSR is a business model used by individual companies, while ESG is a criteria that investors use to assess a company and determine if they are worth investing in.