Special Feature 2021 - Integrated Report 2021
Toward Achieving Sustainability
Our definition of “sustainable business management” is to ensure that the direction of business strategies that the company pursues conforms with the path the world seeks in order to solve social issues, and to continue the company’s robust, steady growth.
While we recognize the need to review our overall management from a new perspective, the COVID-19 global pandemic has made us more strongly aware of the importance of being prepared for uncertainties. Thus, in order to ensure the sustainability of our businesses, we identified five issues of materiality based on the medium- to long-term visions of our stakeholders both inside and outside the company, and clarified 15 action themes, including “Realize a carbon-free society,” “Respect human rights and follow proper labor practices,” and “maintain and foster globally competitive human resources.” We have also established various systems to ensure the implementation of proactive and continuous improvement activities for each theme. For example, to check the progress of the improvement activities on a regular basis, the ESG Materiality Steering Committee headed by the President (CEO) was organized. We have also established a risk management system covering both financial and nonfi-nancial domains so as to promptly address risks that may arise in the future. Moreover, the CSR Charter, which was established in 2008 and has served as the most important guidelines for Nidec’s CSR to date, the CSR Declaration on the Conduct, which clarifies the actions that our employees should choose to take from the perspective of fulfilling their social responsibilities, and all the other documents and regulations concerning CSR constitute the foundation for our materiality initiatives. We will continue to launch effective sustainability strategies by leveraging all of our philosophies and experience, with the aim of making our businesses more sustainable.
Organization to promote materiality actions
The five materiality issues Nidec has identified are associated with a total of 15 action themes, which are classified into three phases according to the timing of the start of action.* As a system to check that each activity is being conducted steadily and effectively, we regularly hold meetings of the ESG Materiality Steering Committee. The ESG Materiality Steering Committee is placed directly under the Management Committee and is headed by Jun Seki, Representative Director, President and Chief Executive Officer. The Committee meets once every quarter to report on the progress and problems of the action themes in each Phase. Reports are given directly by the directors in charge of each action theme. The matters discussed and decided on at the Committee meetings are immediately reflected in the action plan.
* Please refer to page 24 of "Integrated Report 2021" or "Nidec's Materiality".
Nidec’s major stakeholders include its shareholders and investors, customers, business partners, local communities, and employees. It is our important business management task to meet the expectations of our stakeholders through communications with them.