Mitsui O.S.K. Lines, Ltd. (MOL) announced the establishment of the “MOL Sustainability Plan” as an initiative to realize a sustainable society and improve corporate value. In establishing the plan, the company partially reviewed “Sustainability Issues (materiality)” that the MOL Group must prioritize throughout its businesses, and set specific targets/KPIs/action plans linked to each issue.
1. Review of Sustainability Issues
The MOL Group defined and identified social issues to prioritize through its businesses as Sustainability Issues in 2019. Last year, two years after this identification process, it reviewed some of these Sustainability Issues, based on changes in the group’s business environment, in addition to changes in the social environment such as climate change and human rights.
It clarified approaches to MOL Group “safety” and focuses on its aim of “active roles for all people” and “coexistence with all people” who are involved in group businesses as well as MOL Group executives and employees.
2. Establishment of targets/KPIs/action plans related to Sustainability Issues
The MOL Group believes it indispensable to address “Sustainability Issues” as it moves to realize its “Group Vision” (Note 1). It set targets/KPIs/action plans related to each issue with the objective of strengthening initiatives on specific issues and appropriately conducting measurements of effectiveness and improvement activities. Progress on the plan will regularly be reported on the website, integrated report, and so on.
The MOL Group will solve “Sustainability Issues” by steadily fulfilling the plan under the organizational structure centered on the Environment & Sustainability Committee, aiming to increase group-wide corporate value through realization of the “Group Vision.” The group will also contribute to realizing a sustainable society through these efforts.
The MOL Group states, “We will develop a variety of social infrastructure businesses in addition to traditional shipping businesses, and will meet the evolving social needs, including environmental conservation, with innovative technology and services. The MOL Group aims to be a strong and resilient corporate group that provides new value to all stakeholders and grows globally,” in the MOL Group Vision.
Mitsui O.S.K. Lines, Ltd. (MOL) announced the establishment of the “MOL Group Human Rights Policies” in conformity with the United Nation “Guiding Principles on Business and Human Rights.”
In addition, MOL revised the “MOL Group Basic Procurement Policy,” which encompasses issues to consider in its own procurement activities, and established the “MOL Group Supplier Procurement Guidelines,” comprising issues on which the group will seek the understanding and cooperation of our business partners.
1. Establishment of “MOL Group Human Rights Policy”
The MOL Group views respect for human rights as the matter of the highest importance, and strives to eliminate violations of human rights wherever they occur. The group established the human rights policy as a part of its efforts to more clarify the concept of respect for human rights as a group-wide common view and enhance related initiatives.
2. Revision of “MOL Group Basic Procurement Policy” and establishment of the “MOL Group Supplier Procurement Guidelines”
The MOL Group believes that one of its critical missions is to establish sustainable value chains and reliably offer high-quality products and services in consideration of human rights and so on. In the group’s procurement activities, along with establishment of the human rights policy, it has also revised the basic procurement policy, which was established in 2012, by adding issues related to human rights in the basic procurement policy. This is intended to highlight the group’s commitment to human rights.
In addition, the group has established the new Supplier Procurement Guidelines based on our belief that it is indispensable to gain the cooperation of our business partners to establish sustainable value chains. The guidelines summarize issues to consider in business activities of our business partners. The group focuses on activities to instill business partners with a deep understanding of the guidelines.
The MOL Group sets forth “Governance (Governance and compliance to support businesses)” as a Sustainability Issues (Note 1), and sets “responsible procurement” and “respect for human rights” as initiative themes. (Fig. 1) The group will accelerate each initiative in line with the “MOL Sustainability Plan” (Note 2).
(Note 1) MOL specifies “Sustainability Issues (materiality)” as social issues to prioritize through its businesses.
(Note 2) MOL established the “MOL Sustainability Plan” as an initiative to realize a sustainable society and improve the group’s corporate value. Specific targets/KPIs/action plans linked to sustainability issues are set out in the plan.