Osaka, December 8: Fuji Oil is one of only 10 companies that achieved a triple ‘A’, out of 5,800+ companies that were scored based on data submitted through CDP’s questionnaires in 2020. CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform.
Fuji Oil has participated in the CDP scoring since 2016. In 2019, the company scored A for Forests on Palm oil, and A- for Climate change and Water security. Fuji Oil became the first Japanese company selected as A list of CDP Forests on Palm oil in 2018.
CDP applies a detailed and independent methodology to assess companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
Hiroshi Shimizu, President and CEO of Fuji Oil Holdings Inc. said:
“It’s a great pleasure and we are proud to have achieved the triple ‘A’ score for the first time. This recognition is a reward for the determination of all our employees to live up to our core value of “Work for people” and create Corporate Shared Value. At the same time, this is an incentive to keep contributing, through our business activities, to the realization of a sustainable society. The evaluation encourages Fuji Oil group’s ESG management”.
Fuji Oil promotes ESG management to achieve sustainable growth through the creation and offer of Plant-Based Food Solutions. The Company is determined to solve social issues by providing plant-based food ingredients, while reducing the environmental impact to a minimum. In June this year, the Fuji Oil Group announced a sustainable procurement commitment to eliminate child labor and prevent deforestation, covering cacao, palm oil and soy.
Paul Simpson, CEO of CDP, said:
“We extend our congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ‘ambition loop’ for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”