Based on the Fuji Oil Group Management Philosophy,*1 the Fuji Oil Group practices ESG management to achieve sustainable business growth and promote sustainable development through Plant-Based Food Solutions.*2
With less than a decade to go before the target year of the SDGs, businesses are under pressure to play an increasing role in building a sustainable society. To strengthen our ESG management even further, we incorporated the concept of Creating Shared Value (CSV), the creation of economic and social value together. With this, we aim at maximizing the value of our business while meeting stakeholder expectations.
The Fuji Oil Group Management Philosophy articulates the Group’s Mission (Our reason for being), Vision, Values (The values that inform our actions) and Principles. The Philosophy sets out the principles of conduct that all directors and employees of the Group must follow. We will conduct our business activities as a responsible member of society to remain a company needed by society. This is symbolized by the phrase “Work for people” in the Values. This commitment lies at the core of the Group’s Philosophy.
*1 Follow the link below to learn more about the Fuji Oil Group Management Philosophy.
*2 A concept we announced as our commitment to addressing social issues with plant-based food ingredients
Overview of the Fuji Oil Group’s management
ESG management system
To strengthen ESG management and meet stakeholder expectations, the ESG Committee was established in 2015 as an advisory body to the board of directors of Fuji Oil Holdings Inc. The Chief “ESG” Officer (C“ESG”O) serves as chair of the committee. The Sustainability Development Group of Fuji Oil Holdings Inc., a division positioned directly under the C“ESG”O and tasked with promoting ESG management, serves as the ESG Committee’s secretariat.
The ESG Committee meets at least twice a year to identify ESG issues that are material to the Group; discuss issues, targets, and strategies for ESG initiatives; and monitor progress. The committee invites both internal and external experts as advisors to incorporate a social perspective. After each meeting, the committee reports insights to the board of directors for review.
The position of C“ESG”O was created at Fuji Oil Holdings Inc. in April 2019 to reinforce the promotion of the Group’s ESG management. The C“ESG”O oversees the Group’s ESG management in cooperation with the board of directors to meet stakeholder expectations toward sustainable business growth and positive social impact. The Sustainability Development Group engages with members of society to understand stakeholders’ expectations and concerns; and helps with reflecting these into the Group’s business activities. The Sustainability Development Group reports feedback from stakeholders to the ESG Committee, where it is used to review and make decisions on the Group’s material ESG issues.
At the Fuji Oil Group, we conduct educational and awareness-raising activities for executives and employees to inform them of the Group’s basic approach, activities of ESG management and society’s expectations. We work to improve employees’ understanding of ESG management through various activities, such as publishing an article series on ESG management in in-house newsletters (Japanese, English and Chinese), conducting e-learning on the SDGs and ESG management at Group companies in Japan, and explaining the Fuji Oil Group Management Philosophy and ESG management to Group companies outside Japan.
We also invite external experts to provide training to all directors (including outside directors), auditors, executive officers, and senior employees. The training focuses on four themes: sustainability, governance, internal systems, and legislation.
Training topics (examples)
- ESG management trends in the EU
- ESG and sustainable business value growth
- Companies Act amendments and trends in changes to corporate governance codes
- Stakeholder feedback on the integrated report
- Compliance with important fair-trade laws (e.g., anti-trust, bribery prevention)
The Fuji Oil Group established the ESG Management Award as an award program to annually recognize Group companies and departments that have contributed to the promotion of ESG management.
Awardees are selected based on quantitative factors (number of occupational accidents or customers complaints, CO2 emissions, water use, waste) and qualitative factors (contributions to environmental or safety initiatives or to solving a social issue).
In FY2020, two awards were given: one to Fuji Oil Co., Ltd. Chiba Plant and the other to the Risk Management Team, ESG Management Group (now: Risk Management Team, Production Productivity Management Group) at Fuji Oil Holdings Inc. The Chiba Plant was applauded for achieving zero complaints and for contributing to all reduction targets in the Environmental Vision 2030. The Risk Management Team was praised for building a Groupwide risk management system, identifying and disclosing information on the Group’s climate risks and opportunities based on TCFD recommendations, and supporting the Group as the COVID-19 emergency response headquarters secretariat.