We intend to increase opportunities for dialogue with stakeholders as Professor Fujii recommended, and will address priority issues and carry out reviews to improve our policies and systems concerning the environmental and social impact of our existing businesses.
In Cirebon coal-fired power plant project, the currently operational Unit 1 plant(660 MW which Marubeni invested in), for which JBIC already provided its loan, has already caused numerous environmental and social impacts.
The currently operational 660MW unit of the Cirebon coal-fired power, backed by both JBIC and Marubeni, has already caused numerous environmental and social impacts.
In the future, while paying attention to the social and environmental impacts of private investment, the public investment on trade insurance credit must bring social and environmental standards into consideration.
In order to speed up the acquisition of land for infrastructure development the Modi administration attempted to amend the Land Acquisition Law, thereby exempting developers from acquiring consent from landowners, and from conducting a social impact survey, as far as infrastructure development in five areas is concerned, including the construction of industrial corridors.
In 2016 we identified our materiality, after which we worked on the issues we saw as being the most significant, including improving our suppliers' response to their environmental and social impact, improving children's physical strength and ability, extending the healthy life span of senior citizens and diversity.
The Risk Management Committee controls the risk management of the entire Mizuno Group based on the Risk Management Policy, clarifying all types of risk including the economic, environmental and social impact associated with business operation.
Applicable Products and Services Products and services provided to clients by each group company include the extension of credit and the underwriting of bonds and stocks(hereinafter, financing). We recognize that the provision of financing may potentially contribute to environmental and social impacts as well as an increase in associated risks.
In our latest meeting on March 23, we learned that JBIC had not yet ascertained if the project proponents undertakes the necessary countermeasure to prevent or minimize the environmental and social impacts. This means JBIC did not comply with its own guidelines,"JBIC Guidelines for Confirmation of Environmental and Social Considerations" hereafter Guidelines.
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