Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Since fiscal 2021, Showa Denko's then Chairman of the Board (advisor to the Company since March 2022) has been chairing the "Committee on Energy and Resources† of KEIDANREN (Japan Business Federation) as well as a subcommittee. Therefore, the former Chairman has opportunities to take part in governmental councils to deliberate energy policies, hosted by the Ministry of Economy, Trade and Industry. In those councils, Showa Denko's executives have met officials of the Agency for Natural Resources and Energy, listened to explanation from them on how the policies were examined and promoted, and discussed repeatedly with them on behalf of the industry. In this process, we have been aligning our target of and strategy for achieving net zero by 2050 with the Japanese government's target of achieving carbon neutrality by 2050.
We are also fostering energy conversion and the recovery of CO2 in line with the Green Growth Strategy that the Ministry of Economy, Trade and Industry is implementing to promote R&D and the practical use of the developed technologies for the structural shift of the energy and industrial sectors as well as for innovation propelled by bold investments. We are also participating in the Green Innovation (GI) Fund Project implemented by the Ministry with an eye to developing technology to separate and recover low-pressure and low-content CO2 from gases exhausted at plants at a low cost and also to verifying the technology developed to use the recovered CO2 as a material to manufacture chemicals.