CDP Climate Change 2021 Questionnaire

C0 Introduction
C0.1(C0.1) Give a general description and introduction to your organization.
The Group is centered on the Obayashi Corporation, one of Japan's biggest construction
companies, and consists of 94 subsidiaries and 26 affiliated companies, with about 1.77 trillion
yen in total sales and 15,000 employees. Since its founding by Yoshigoro Obayashi in Osaka in1892 and until today, the Group has engaged in numerous major projects in Japan and abroad,building on its DNA of "an attitude of sincere manufacturing" and "technological power." Making
use of technologies and knowhow that we have cultivated since the beginning, we have recently
gone beyond our main construction business to engage in new businesses like the renewableenergy business, actively working to realize a low carbon society.

C0.2(C0.2) State the start and end date of the year for which you are reporting data.
Start dateEnd date

From: [01/04/2020]

To: [31/03/2021]

Indicate if you are providing
emissions data for past reporting
years

No

C0.3
(C0.3) Select the countries/areas for which you will be supplying data.
Japan

C0.4
(C0.4) Select the currency used for all financial information disclosed throughout yourresponse.
JPY

C0.5(C0.5) Select the option that describes the reporting boundary for which climate-related
impacts on your business are being reported. Note that this option should align withyour chosen approach for consolidating your GHG inventory.

Other, please specify
Domestic (non-consolidated)

C-C N0.7/C-RE0.7(C-CN0.7/C-RE0.7) Which real estate and/or construction activities does yourorganization engage in?
Answer specifically, e.g. new construction and large-scale alterations of buildings, other real estateand construction activities
New businesses like civil engineering, real estate development, and renewable energy

C1 GovernanceC1.1(C1.1) Is there board-level oversight of climate-related issues within your organization?
Yes

C1.1a
(C1.1a) Identify the position(s) (do not include any names) of the individual(s) on theboard with responsibility for climate-related issues.
Position ofindividual(s)President

Please explain

At the Obayashi Corporation, the Board of Directors, which comprises all
directors, oversees climate-related risks and opportunities as a priority matter forour businesses.
The person with ultimate responsibility for climate-related matters at the
Obayashi Corporation is Representative Director and President, who is amember of the Board of Directors and chairman of the CSR Committee.
The following are the Obayashi Corporation's main policies, measures, andorganizations that are relevant to the climate-related matters for which
Representative Director and President has responsibility.
1. Basic Principles and Environmental Policy of the Obayashi Corporation
The Basic Principles of the Obayashi Corporation is based on the spirit of theThree Pledges (Quality, Value, and Efficiency) that go back to the founding of thecompany. Our Corporate Philosophy defines our social mission, and our Code of
Conduct stipulates guidelines for achieving that. As a leading sustainability
company, our Corporate Philosophy specifies that we "care for the global
environment and create solutions to social challenges as a good corporate
citizen." The Code of Conduct promotes "fostering an environmentally
responsible society" as one way to "fulfill our social mission."
Moreover, in addition to the Obayashi Corporation's Basic Principles, thePresident formulates an Environmental Policy whose explicit basis is that "TheObayashi Corporation will engage in independent initiatives to addressenvironmental issues as a good corporate citizen that cares for the global
environment, promote continuous improvement as a key task in our businesses,
and envision an ideal future society through all our business activities, thereby
contributing to building a sustainable society."

2. Obayashi Sustainability Vision 2050
At the Obayashi Corporation, matters are discussed by an expert committee thatconsists of external experts and several Obayashi Group directors, chaired by
the President. Considering various social trends and changes in the businessenvironment surrounding the Obayashi Group, the committee developed the
Obayashi Green Vision 2050 from 2011 into the Obayashi Sustainability Vision
2050 in June 2019, incorporating ESG as a foundation of its business andachievement of SDGs as well as simultaneously pursuing the sustainability of"the planet, society, and people" and of the Obayashi Group. The Obayashi
Sustainability Vision 2050 redefines our Vision in 2050 as the realization ofsustainability of "the planet, society, and people" and defines "2040-2050
targets," including "decarbonization," to achieve that Vision.

3. Medium-Term Business Plan 2017
Considering the aim of "realizing a sustainable society" as defined in our
Corporate Philosophy, the Obayashi Group has formulated a Medium-TermBusiness Plan that envisions the future we want for our 150th founding
anniversary (2042) and identifies the goals and measures we should achieve inthe first five years of our road map toward that.
Moreover, we defined six ESG key tasks after revising our initiatives based on
the Obayashi Basic Principles from an ESG standpoint. In addition toincorporating these ESG key tasks in our business measures from the MediumTerm Business Plan and conducting activities in relation to the SDGs, we aim torealize medium- and long-term growth for the Obayashi Group as well as asustainable society. Furthermore, one of the ESG key tasks is establishing anenvironmentally responsible society. Our action plans for this task of"establishing an environmentally responsible society" include "promoting
renewable energy businesses" and "promoting decarbonization." We check the
progress of KPIs set for each action plan on an annual basis and proceed with
PDCA cycles.

4. The Board of Directors
The Obayashi Corporation has a Board of Director that consists of all directors,
including Representative Director and President and the executive officer
responsible for the environment (Representative Director and Executive Vice
President). The Board of Directors convenes about 15 times a year and oversees
climate-related risks and opportunities. In FY2021.3, the board deliberated on
and adopted the KPIs "Direct contribution of CO2 emission reductions rate* (vs.
FV2013.3)" and "Indirect contribution of CO2 emission reduction rate** (vs.
FV2013.3)" for the action plan "promoting decarbonization" that relates to the
ESG key task "establishing an environmentally responsible society," as aclimate-related matter relevant to concrete initiatives and KPIs about ESG thatwere incorporated into the management plan.
*Direct contributions＝A＋B－C

A
Fuel consumption and power purchased at construction sites and in offices(scope 1 + scope 2)
B
Transportation of construction materials and waste, commuting of
employees and workers (categories 4, 7, 9 in scope 3)
C
Emissions corresponding to power generated in renewable energy
businesses**Indirect contributions＝a＋b－caAnnual emissions for buildings in operation and in common use for 35
years after completed construction by usb

Production of construction materials (category 1 in scope 3)cReduction effect by adoption of energy-saving and low-carbon materials

5. CSR Committee
To conduct CSR activities throughout the corporation from an ESG standpoint
based on the Obayashi Basic Principles, the Obayashi Corporation has a CSR
Committee consisting of several directors and several executives, including theexecutive officer responsible for the environment (Representative Director andExecutive Vice President), which is chaired by Representative Director andPresident. The CSR Committee meets once a year and formulates the basic
policy on CSR, including activities for climate-related matters, proposes policies
and concrete activity plans, and reviews how they are implemented.
In July 2020, the CSR Committee deliberated on and decided to announce our
support for the Task Force on Climate-Related Financial Disclosures (TCFD) and
implemented scenario analysis of four major businesses in Japan (building
construction, civil engineering, real estate development, new businesses) inorder to understand the medium- to long-term impact of climate-related issues on
businesses. Based on those results, information was disclosed based on the
TCFD proposal in November 2020.

C1.1b(C1.1b) Provide further details on the board’s oversight of climate-related issues.
Frequencywith whichclimaterelated
issues are ascheduled
agendaitem

Governancemechanisms into
which climate-related
issues are integrated

Please explainAllmeetings(planned)●Reviewing and

The following are the meetings in the Obayashi Corporation
where climate-related matters are on the agenda and which
are attended by officers including the chief executive
Representative Director and President and/or the executive
officer responsible for the environment (Representative

guiding strategy●Reviewing andguidingmajorplans of action

●Reviewing andguidingriskmanagement
policies●Reviewing andguiding annual
budgets●Reviewing andguidingbusiness plans●Setting
performance
objectives●Monitoring

implementation
andperformance ofobjectives●Overseeing
major
capitalexpenditures,acquisitions anddivestitures●Monitoring andoverseeing
progress against
goals and targets
for addressing
climate-related
issuesDirector and Executive Vice President). These meetings arescheduled 1-15 times a year.
1. Board of Directors
The Obayashi Corporation has a "Board of Directors" thatconsists of all directors. The board meets 15 times a year andoversees climate-related risks and opportunities.
2. CSR Committee
It clarifies the Obayashi Corporation's basic stance on CSR(corporate social responsibility, including activities forenvironmental preservation and climate-related matters) andpromotes CSR activities throughout the corporation. The
President chairs the committee and it consists of the executive
officer responsible for the environment and other officers. In
terms of climate-related matters, it engages in "reviewing andinstructing strategy," "reviewing and instructing major actionplans," "reviewing and instructing risk management policy,""monitoring how goals are implemented and achieved," and"setting goals for addressing climate-related issues andmonitoring their progress," which has allowed it to contribute to
the supervision of climate-related matters by revising the
Obayashi Green Vision 2050, which was formulated as a
medium- to long-term environment vision in 2011, into the
Obayashi Sustainability Vision 2050 in FY2020.3 byincorporating not only E (environment) but also S (society) andG (governance) elements, as well as disclosing information
based on the TCFD proposal.
3. Environmental Management Expert Committee
This is an organization under the CSR Committee that is incharge of "matters of proposing and implementing measures
for the operation of the environmental management system,""matters of grasping how measures for the operation of theenvironmental management system are implemented," and"matters of gathering and reconciling the opinions of relevant
departments for the promotion of measures for the operationof the environmental management system." It is chaired by
the executive officer responsible for the environment andconsists of environment managers from each businessdivision. It reviews and instructs strategies and action plans
based on environment-related data gathered and analyzed
from the whole corporation, defines performance goals, andmonitors how they are implemented and achieved. In terms ofclimate-related matters, it engages in "reviewing andinstructing major action plans," "reviewing and instructing risk
management policies," "defining performance goals,""monitoring how the goals are implemented and achieved,"and "supervising the progress toward goals for addressing
climate-related issues," which has allowed it to contribute to
the supervision of climate-related matters by holding
management reviews twice a year to approve the setting andrevising of environment goals as well as issue reviews andinstructions about environmental preservation activities to theoverall environmental manager and environmental managers
in the corporation and all our branches.
4. Liaison Conference for All Branch Environmental Managers
This is an organization under the Environmental Management
Expert Committee that promotes instructions of the CSR
Committee and the Environmental Management Expert
Committee. It is attended by the executive officer responsible
for the environment, the overall environmental manager, andthe environmental managers in the corporation and all ourbranches. In terms of climate-related matters, it engages in"reviewing and instructing major action plans," "defining
performance goals," "monitoring how goals are implemented
and achieved," and "setting goals for addressing climaterelated issues and monitoring their progress," which has
allowed it to contribute to the supervision of climate-related
matters by reviewing and analyzing the achievements ofenvironmental preservation activities in the corporation and all
our branches.

C1.2(C1.2) Provide the highest management-level position(s) or committee(s) withresponsibility for climate-related issues.
Name of the position(s)and/or committee(s)Responsibility

President

Both assessing and managing Half-yearlyFrequency of reporting to the board on
climate-related issues

climate-related risks andopportunities
Chief Risks Officer

Both assessing and managing More frequently than quarterly(CRO)climate-related risks andopportunities

1

Corporate responsibility Both assessing and managing Annuallycommittee
2

climate-related risks andopportunities

1 Executive officer responsible for the environment
2 CSR Committee

C1.2a(C1.2a) Describe where in the organizational structure this/these position(s) and/or
committees lie, what their associated responsibilities are, and how climate-related
issues are monitored (do not include the names of individuals).
The Obayashi Corporation has a CSR Committee that consists of several directors andexecutives, including the executive officer responsible for the environment (Representative
Director and Executive Vice President), chaired by the Representative Director and President.
The committee is tasked with clarifying the Obayashi Corporation's basic stance on CSR(corporate social responsibility, including activities for environmental preservation and climaterelated matters) as well as promoting CSR activities throughout the corporation through "1.
matters of formulating the corporation's basic policy on CSR," "2. matters of proposing policies
to promote CSR activities," and "3. matters of evaluating the implementation of CSR activities."
When it comes to climate-related matters, the committee makes annual reports about theresults of monitoring CO2 emissions based on reports submitted by the Environmental
Management Expert Committee (chairman: executive officer responsible for the environment:
Representative Director and Executive Vice President), which is a subordinate organization.
From this, the CSR Committee (chairman: Representative Director and President) has final
responsibility for evaluating and monitoring climate-related matters.
The following are the organizations that engage in climate-related matters with the
involvement of the Representative Director and President as well as the responsibilities of
those organizations.
・Members of the Board of Directors
The Obayashi Corporation has a Board of Directors that consists of all directors. The board
meets 15 times a year and oversees climate-related risks and opportunities.
・Members of the CSR Committee
The following are the organizations that engage in climate-related matters with the involvementof the executive officer responsible for the environment (Representative Director and Executive
Vice President) as well as the responsibilities of those organizations.
・Members of the Board of Directors
The Obayashi Corporation has a Board of Directors that consists of all directors. The board
meets 15 times a year and oversees climate-related risks and opportunities.
• Members of the CSR Committee
The Obayashi Corporation has a CSR Committee that consists of several directors andexecutives, including the executive officer responsible for the environment (Representative
Director and Executive Vice President), chaired by the Representative Director and President.
The committee is tasked with clarifying the Obayashi Corporation's basic stance on CSR(corporate social responsibility, including activities for environmental preservation and climaterelated matters) as well as promoting CSR activities throughout the corporation through "1.
matters of formulating the corporation's basic policy on CSR," "2. matters of proposing policies
to promote CSR activities," and "3. matters of evaluating the implementation of CSR activities."
When it comes to climate-related matters, the committee makes annual reports about theresults of monitoring CO2 emissions based on reports submitted by the Environmental
Management Expert Committee (chairman: executive officer responsible for the environment:
Representative Director and Executive Vice President), which is a subordinate organization.

• Members of the Environmental Management Expert Committee
The Obayashi Corporation has an Environmental Management Expert Committee that ischaired by the executive officer responsible for the environment (Representative Directorand Executive Vice President) and is subordinate to the CSR Committee. Moreover, theObayashi Corporation has an "environmental management system" in place to be able tocontribute to building a society where sustainable development is possible, by minding theenvironmental impact of all our business activities and working to preserve the environment.
The expert committee is in charge of the following matters: "1. matters of proposing andimplementing measures for the operation of the environmental management system," "2.
matters of grasping how measures for the operation of the environmental management
system are implemented," "3. matters of gathering and reconciling the opinions of relevant
departments for the promotion of measures for the operation of the environmental
management system" and "4. matters of providing affiliated companies with instruction andcooperation regarding the aforementioned matters as needed." The executive officer
responsible for the environment, who chairs this expert committee, is responsible for taking
various actions with regard to the Obayashi Corporation's environmental management
system, including addressing climate-related matters (such as evaluation, supervision, etc.).
With regard to climate-related matters, the expert committee receives reports about energy
usage collected and tallied on a semi-annual basis and CO2 emissions calculated fromthose figures from the "overall environmental manager" (General Manager of theEnvironmental Management Department of the Safety, Quality & Environment Division in the
Head Office [environment/sustainability manager]) as well as monitors these activities.
(References) "overall environmental manager" "environmental managers"
Moreover, the Obayashi Corporation has an "environmental management system" in place tobe able to contribute to building a society where sustainable development is possible, by
minding the environmental impact of all our business activities and working to preserve theenvironment. The General Manager of the Environmental Management Department of the
Safety, Quality & Environment Division in the Head Office (environment/sustainability manager)
is appointed as "overall environmental manager." The overall environmental manager follows
the instructions of the Environmental Management Expert Committee, which is an organization
under the CSR Committee, and works to establish, implement, and maintain the environmental
management system in all branches. Moreover, the head of construction at each branch(environment/sustainability manager) is also appointed "environmental manager" of that branch.
The environmental manager follows the instructions of the overall environmental manager andworks to establish, implement, and maintain the environmental management system in theirbranch. Further, the overall environmental manager and the environmental managers havevarious obligations regarding actions associated with the Obayashi Corporation's environmental
management system, including addressing climate-related matters. With regard to climaterelated matters, the overall environmental manager leads the Environmental Management
Department of the Safety, Quality & Environment Division as the administration office in tallying
energy use based on semi-annual reports from the branch environmental managers as well as
monitoring the situation together with the CO2 emissions calculated from those figures. Reports
about all branches and their results are also given at the Liaison Meeting for All Branch
Environmental Managers, which is held twice a year.

C1.3(C1.3) Do you provide incentives for the management of climate-related issues,
including the attainment of targets?
Provide incentives for the
management of climate-related
issuesro Yesw
1

Comment

The Obayashi Corporation provides incentives to manage
climate-related matters.
More concretely, there are incentives for all employees andincentives for the executive officer responsible for theenvironment.
Management of climate-related matters at the Obayashi
Corporation includes "reducing CO2 emissions at thedesign and construction stages," which is one of our EMS
environment goals.

C1.3a(C1.3a) Provide further details on the incentives provided for the management ofclimate-related issues (do not include the names of individuals).
Entitled toincentive

Chief Risk

Type ofincentive

Activity
incentivized

Comment

Monetary Emissions Our progress with regard to "reducing CO2 emissions at
rewardreduction the design stage" and "reducing CO2 emissions at the
Officer
project
construction stage," which are environmental goals in the(CRO)
Obayashi Corporation's EMS, affects the evaluation andmonetary rewards of the executive officer responsible forthe environment as they are the chairman of theEnvironmental Management Expert Committee, which
proposes and implements EMS measures as well as
oversees that implementation.
All
Monetary Emissions The Obayashi Corporation has an "environmental
reduction commendation" system that recognizes especiallyemployees reward
project
meritorious and otherwise exemplary activities in three ofour environment-related initiatives (low carbon, recycling,
coexistence with nature). The judgment criteria of the"environmental commendation" include environmental
impact (reduce greenhouse gas emissions, reduceenergy use, improve efficiency, etc.). As part of thecommendation, the awardee is presented with acertificate as well as prize money or a prize item.
Monetary Emissions One of the items in the employee performance review isAllreduction "has performed work in consideration of theemployees reward
project
environment," which is reflected in each employee's
salary. "Work in consideration of the environment"
includes activities relevant to reducing CO2 emissions at
the design and construction stages, which is an EMS
environment goal of the Obayashi Corporation.

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

C2 Risks and opportunities
C2.1(C2.1) Does your organization have a process for identifying, assessing, and responding
to climate-related risks and opportunities?
Yes

C2.1a
(C2.1a) How does your organization define short-, medium- and long-term time
horizons?
Time horizon

From (years)

To (years)

Short-term

01Medium-term

1

3Long-term

331Comment

C2.1b
(C2.1b) How does your organization define substantive financial or strategic impact on
your business?
Substantive financial or strategic impact is defined as follows. The evaluation criteria forimportance/impact are impact in case of occurrence, risk of occurrence in the short, medium,and long terms (frequency), impact on consolidated operating income as an indicator of
financial impact, and qualitative evaluation of consistency with the Obayashi Corporation's
Basic Principles, business activities, and business strategy. Rising construction costs in ourconstruction business, which is our core business and accounts for more than 90% of net
sales, is tantamount to rising cost of goods sold, which has a negative impact on consolidated
operating income. Changes in consolidated operating income are an element that causes a
considerable financial impact when we identify and assess risks and opportunities. Moreover,
our consolidated operating income was 123.2 billion yen as of March 2021, but fluctuations indomestic construction demand are having a short-term impact on our building construction
business and a medium- to long-term impact on our civil engineering business.

C2.2(C2.2) Describe your process(es) for identifying, assessing and responding to climaterelated risks and opportunities.

Value chain stage(s) covered
Direct operations
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Upstream
Downstream
Risk management process
Integrated into multi-disciplinary company-wide risk management process
Frequency of assessment
More than once a year
Time horizon(s) covered
Short-term
Medium-termLong-term
Description of process
The Obayashi Corporation incorporates techniques for identifying, evaluating, andmanaging complex and society-wide risks and opportunities in the organization's
processes as part of overall risk and opportunity management, thereby identifying,evaluating, and managing climate-related issues.
As part of the Obayashi Corporation's methods for identifying, evaluating, andmanaging complex and society-wide risks and opportunities, the CSR Committee
examines impact on the entire supply chain, including the whole group, suppliers, andclients, and what the corporation needs the most in the short, medium, and long terms,
through which they are able to identify and evaluate risks and opportunities and finallydetermine ESG Materialities, including climate-related ones. The CSR Committee
chaired by the President oversees two other committees, namely the Public Relations
Expert Committee and the Environmental Management Expert Committee. It receives
reports on the identification and evaluation of various risks and opportunities from thesetwo committees and manages them from a comprehensive standpoint. Twice a year, theEnvironment Management Department identifies and evaluates short-term risks andopportunities that are already manifesting and that affect the group and value chain as awhole. The Environmental Management Expert Committee, which meets twice a year
and is chaired by the executive for environmental actions, likewise reviews key
measures in environmental management, makes minor adjustments to target levels,and ensures that the latest information is reflected and evaluated. The results of theirdeliberations are reported to the CSR Committee, which is the supreme decisionmaking body for environmental measures.
When it comes to risks and opportunities that affect the group and value chain as awhole in the medium to long terms, the ESG expert department extracts 22 "ESG tasks"
from 300 tasks in ESG areas, evaluates them according to stakeholder interest andbusiness strategic and financial importance and impact for the Obayashi Group, andranks them accordingly. The CSR Committee then narrows it down to six items after
considering the Obayashi Corporation's Basic Principles and business strategies. Oneof these ESG Materialities is "forming a society that cares about the environment."
In its efforts to address climate-related risks and opportunities, the CSR Committee
develops ESG Materiality action plans and KPIs (numerical targets), incorporates theminto business plans, and asks the departments to reflect them in their key measures.
The ESG expert department conducts performance reviews twice a year and a detailed
analysis once a year to measure progress toward departmental numerical targets, all of
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
which is evaluated by the CSR Committee once a year.
[Processes for identifying and evaluating climate-related risks and opportunities]
Also with regard to methods for identifying and evaluating climate-related risks andopportunities, we identify and evaluate the materiality of risks and opportunities
according to definitions and indicators for serious impact, and define risk responses andrankings in the same way as for the aforementioned risks and opportunities that affectthe entire value chain.
The evaluation criteria for importance/impact are impact in case of occurrence, risk ofoccurrence in the short, medium, and long terms (frequency), impact on consolidated
operating profit as defined for serious financial impact, and qualitative evaluation of
consistency with the Obayashi Corporation's Basic Principles, business activities, andbusiness strategy.
The Obayashi Sustainability Vision 2050, which was revised and announced on June24, 2019, explains how to manage long-term risks and opportunities of three years ormore until 2050 by taking into account various social trends and changes in thebusiness environment of the Obayashi Group as well as by conducting revisions andcontrol with management and external experts. At the intermediate target years of 2030
and 2040, we will set the targets for 2040-2050 as well as consider the need for revising
the Vision. Moreover, we have implemented scenario analyses for our four main
domestic businesses in 2030 based on the TCFD proposal, identifying and evaluating
risks and opportunities to understand the mid- and long-term impact of climate-related
challenges on the businesses.
[Processes for responding to climate-related risks and opportunities]
For methods to respond to climate-related risks and opportunities, we rank the identified
risks and opportunities as follows according to the identification and evaluation resultsfrom the aforementioned [Processes for identifying and evaluating climate-related risks
and opportunities]. They are managed by also considering and reflecting financial
impact on the medium-term business plans formulated every three to five years. The
responsible departments formulate their own priority implementation plans based on the
response measures adopted. These response measures are then developed into
specific measures for which progress is reported along with action plans and KPIs to the
CSR Committee once a year.
・Tasks with high importance, impact, and response for the Obayashi Group as well as
high stakeholder interest and response from other companies[Risks] Responding with control measures[Opportunities] Responding by strengthening
priority initiatives
・Tasks with high importance, impact, and response for the Obayashi Group as well as
low stakeholder interest and response from other companies[Risks] Responding with reduction measures[Opportunities] Responding by
actualizing priorities and communicating importance・Tasks with low importance, impact, and response for the Obayashi Group as well as
high stakeholder interest and response from other companies[Risks] Responding with transfer measures[Opportunities] Responding by
proposing and implementing responses and measures
・Tasks with low importance, impact, and response for the Obayashi Group as well as
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
low stakeholder interest and response from other companies[Risks] Responding with acceptance measures[Opportunities] Responding byobserving trends and ascertaining opportunities■ Case study: short- and medium-term risks that accompany physical changes "averagetemperature increase due to higher summer maximum temperature" "increased severity
and frequency of abnormal weather, including cyclones and floods" (Situation) The
Obayashi Corporation had 203 cases of heatstroke in FY2021.3, of with 24 involved atleast one day off. The working environment in construction is often very hot, such as aplace in direct sunlight, somewhere lacking air conditioning, a closed space with little
ventilation, or somewhere with hot materials and machines. If the working environment
becomes worse due to higher temperatures, this can lead to more cases of heatstrokeon construction sites, concomitant decreases in work efficiency, more days off, andhigher accident risk.
At the same time, abnormal weather has become more frequent in recent years due
to climate change, with concentrated bouts of heavy rain becoming more common,such as more days with 100 mm or more of rainfall and hours with 50 mm or more.
As a result, the capacity of rivers and waterways are frequently exceeded.
(Challenge) Heat stress, changes in weather patterns, and intensifying abnormal
weather creates challenges in the form of potential productivity decreases atconstruction sites due to heavy rain and risks of higher construction costs due toadditional repairs and mending after flooding and typhoon damage. Moreover, there is aneed to respond to suspended supply chains due to abnormal weather and preparing
BCP responses to meet stipulated deadlines becomes an important task.
(Actions) The ESG expert department has assessed that heat stress, heavy rain
countermeasures, and flood and typhoon damage risk affecting business performance inan excessively competitive construction market because price adjustments are notpossible because they directly lead to higher construction costs. In the mid- to long-term
scenarios, the CSR Committee assessed that heatwaves, heavy rain, and other aspects
of climate change can have a serious financial impact, assuming that they are frequentand consolidated operating profit is estimated to drop as much as 5%. It was also
assessed that these risks should be addressed with control measures for tasks with highimportance, impact, and response for the Obayashi Group as well as high stakeholderinterest and response from other companies. In FY2021.3, the ESG expert department
developed measures to improve the productivity and safety of measures against
heatwaves, heavy rain, and other aspects of climate change and to promote innovativetechnological development for improving the working environment. Based on these
considerations, the CSR Committee evaluated business impact based on the TCFD
proposal and decided on the aforementioned measures in June 2020.
(Results) Strategies based on the results of analyzing the risks and opportunities for ourbusinesses caused by climate change are being reflected in the upcoming medium-termbusiness plan as well as managed with action plans and KPIs. There was a 4.4%
performance increase for KPI "construction business productivity increase by at least 10%
by FY2022.3 (vs. FY2017.3)" for action plan "use technological capabilities to further
enhance productivity" in FY2021.3.
■ Case study: Short- and medium-term risks that accompany changes (transitions) inthe external environment (introduction of carbon tax, higher energy costs)(Situation) The main business of the Obayashi Corporation is construction, which has a
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
major dimension of a so-called assembly industry, where workers mount secondary
products like raw materials, components, and equipment at the construction site, so raw
material costs makes up a big part of cost of goods sold. Moreover, large amounts ofenergy are consumed with the use of heavy machinery during construction.
(Challenges) The addition of carbon tax to material costs and rising energy costs
directly lead to higher construction costs.
(Actions) The ESG expert department has assessed that the addition of carbon tax tomaterial costs and rising energy costs risk affecting business performance in anexcessively competitive construction market because price adjustments are not possible
because they directly lead to higher construction costs. In the mid- to long-term
scenarios, the CSR Committee assessed that the introduction of a carbon tax, coupledwith rising power prices, can have a serious financial impact, assuming that this ismoderately probable and consolidated operating profit is estimated to drop by about
10%. It was also assessed that these risks should be addressed with control measures
for tasks with high importance, impact, and response for the Obayashi Group as well as
high stakeholder interest and response from other companies.
More concretely, the policy is to promote energy-saving measures during construction,
use recycled and low-carbon materials, and decarbonize construction machinery. The
Environmental Management Expert Committee, which convened at the Corporation in
May 2020, decided to set a CO2 reducing target of 15%, to be compared with the 15%
target for FY2020.3, for the construction phase at construction sites in FY2021.3, basing
this on the environmental expert department's analytical results of quantitative data
monitored twice in FY2020.3. The CSR Committee, subsequently convened in June
2020, approved the construction CO2 reduction target of 15% as proposed by theEnvironmental Management Expert Committee.
(Results) The Environmental Management Expert Committee instructed theenvironmental managers of the Corporation and all branches to achieve thisenvironment goal as a revision of earlier instructions. To achieve this target, theconstruction sites started using LED for temporary work lighting, fuel-saving heavymachinery, fuel-saving operating practices, and other detailed initiatives, thereby
improving the energy efficiency during construction and achieving a 28% reduction of
CO2 in FY2021.3.

C2.2a(C2.2a) Which risk types are considered in your organization's climate-related risk
assessments?
Risk typeRelevance &inclusion

Please explain

Current
regulation

Relevant,

Since a broader scope and higher level of current regulations(Building Energy Efficiency Act) would mean a loss of design andconstruction orders, which make up about 60% of orders, for the
Obayashi Corporation in case our energy-saving design technology
decreases, we accumulate insufficient know-how from newtechnological development, and our ability to come up with solutions
goes down, we need to perceive this as a short-term risk that iscurrently materializing. These issues are identified by theenvironment expert department every half a year, while theEnvironmental Management Expert Committee, which also

alwaysincluded

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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Emerging
regulation

Relevant,
alwaysincludedTechnology Relevant,alwaysincluded

Legal

Relevant,
alwaysincludedconvenes once every half a year, reflects this in their revisions of
key measures and minor adjustments of target levels. The revised
Building Energy Efficiency Act enacted in April 2021 is expected to
expand the obligation to adhere to energy efficiency standards fromlarge buildings of 2,000 m2 or more to medium-sized buildings of
300 m2 or more, as well as further raise the regulation level in the
future. Unless we develop and expand low-emission construction
and services, this will reduce our ability to build and offer services
through design and construction methods that utilize ourtechnological and managerial abilities to contribute to reducing CO2
emissions, which will decrease demand for our products andservices, thereby cutting profits. There is a fear that we may lose
design and construction orders if we accumulate insufficient knowhow and our ability to come up with solutions goes down, due tovarious shortages in energy-saving design technologies and delays
in new technological development.
Emerging regulations (e.g., the introduction of full-scale carbon
taxes in Japan) are considered a medium-term risk that increases
construction costs, for example via raw materials, as a large part ofour emissions are Scope 1 emissions. A detailed analysis of this isconducted about every three years based on progress toward thenumerical targets from our Obayashi Green Vision 2050, which isreflected in revisions of how we see the business environment
around the Obayashi Group in the medium-term business plans weformulate every three to five years, the formulation of businessfoundation strategies, and revisions of action plans based on the
Obayashi Green Vision 2050. There is a risk that construction costs,
for example via raw materials, will increase in the future due to theintroduction of carbon taxes, etc.
The influence of technology (e.g., new technological trends inrenewable energy) is considered a medium-term risk of 1-3 years as
it might damage the Obayashi Corporation's comprehensivecompetitiveness as a contractor when the number of newcompetitors increases, the technological competition becomes more
intense, and our technology becomes obsolete when national social
infrastructure policy and energy strategy comes to use renewableenergy, such as solar power, offshore wind power, geothermal
power, and biomass, and hydrogen. A detailed analysis of this isconducted about every three years based on progress toward thenumerical targets from our Obayashi Green Vision 2050, which isreflected in revisions of action plans based on the medium-termbusiness plans we formulate every three to five years and the
Obayashi Green Vision 2050. There is a risk that the Obayashi
Corporation loses its technological advantage and ourcomprehensive competitiveness as a contractor due to newtechnological trends.
Legal constraints (e.g., the Act on Rational Use and Proper
Management of Fluorocarbons) are considered a short-term riskthat is currently materializing due to the risk of lawsuits relating tocompliance, including climate change measures. These issues are
identified by the environment expert department every half a year,
while the Environmental Management Expert Committee, which
also convenes once every half a year, reflects this in their revisionsof key measures for environmental management. The results of
their deliberations are reported to the CSR Committee, which is the15

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

MarketRelevant,
alwaysincluded

Reputation

Relevant,
alwaysincluded

AcutephysicalRelevant,
alwaysincludedsupreme decision-making body for environmental measures. The
Act on Rational Use and Proper Management of Fluorocarbons
requires the constructor to explain to the client whether there isapplicable equipment when demolishing the building, while theowner of that equipment is required to have fluorocarbons from thescrapping be properly recycled, which might increase procedural
costs and lead to lawsuits if an obligation to warn the client is not
fulfilled.
The market (e.g., trends in "building energy-saving functionality,"
etc., for which there is social and client demand) is considered a
medium-term risk of 1-3 years as expectations on ZEB and otherlow-carbon buildings are increasing. A detailed analysis of this isconducted about every three years based on progress toward thenumerical targets from our Obayashi Green Vision 2050, which isreflected in revisions of how we see the business environment
around the Obayashi Group in the medium-term business plans weformulate every three to five years, the formulation of businessfoundation strategies, and revisions of action plans based on the
Obayashi Green Vision 2050. Depending on what standards are in
demand, we might have to cooperate with other makers or develop
new technologies.
Moreover, as a construction company, the Obayashi Corporation
consumes large volumes of energy when using heavy machinery
during construction. Since higher energy costs directly lead tohigher construction costs, the inability to shift prices in anexcessively competitive construction market risks affecting businessperformance, so it is because of this relation that it is included in theevaluation.
Reputational risks, which include external recognition of CDP,
external recognition of climate change measures, recognition ofrecent ESG initiatives, and agreement with the TCFD final report,
are considered a short-term risk that is materializing as they mightlead to decreased "external recognition" and higher financial costs
depending on our environmental measures. These issues are
identified by the environment expert department every half a year,
while the Environmental Management Expert Committee, which
also convenes once every half a year, reflects this in their revisionsof key measures for environmental management. The results of
their deliberations are reported to the CSR Committee, which is thesupreme decision-making body for environmental measures. As an
example, lower "external recognition" might lead to higher financial
costs, so it is because of this relation that it is included in theevaluation.
Acute physical risks (e.g., more storms due to typhoons, etc.) areconsidered a short-term risk that is materializing because they mightcause delays in construction at our offices and construction sites
across Japan. These issues are identified by the environment expert
department every half a year and then annually evaluated by the
CSR Committee, which is the supreme decision-making body forrisk management. These decisions are reflected in revisions of key
measures for risk management. More "storms due to typhoons,etc." risks delaying construction in western Japan where we have
many important clients, and in recent years, this risk has begun
expanding to all of Japan.
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Relevant,

Chronic
physicalalwaysincluded

Chronic physical influences (e.g., "rising highest temperatures") areconsidered a short-term risk that is materializing as they decrease
work efficiency and increase labor costs by making working
environments worse, forcing construction site staff and other
employees and workers to endure harsh working conditions.
Regarding these issues, the safety expert department monitors theincidence of heatstroke every month and the safety expert
department identifies environment data every half a year. The
Environmental Management Expert Committee, which also
convenes once every half a year, reflects those data in theirrevisions of key measures for environmental management. The
results of their deliberations are reported to the CSR Committee,
which is the supreme decision-making body for environmental
measures. Worsening working environments risk decreasing work
efficiency and increasing labor costs, so it is because of this relationthat it is included in the evaluation.

C2.3(C2.3) Have you identified any inherent climate-related risks with the potential to have asubstantive financial or strategic impact on your business?
Yes

C2.3a
(C2.3a) Provide details of risks identified with the potential to have a substantive
financial or strategic impact on your business.

ID
Risk 1

Where in the value chain does the risk driver occur?
Direct operations
Risk type and Primary climate-related risk driver
Chronic physicalRising mean temperatures
Primary potential financial impact
Decreased revenues due to reduced production capacity
Company- specific description
The working environment in construction is often very hot, such as a place in direct
sunlight, somewhere lacking air conditioning, a closed space with little ventilation, or
somewhere with hot materials and machines. The Obayashi Corporation has many
important clients in western Japan as the corporation was founded in Osaka, and morethan 80% of domestic construction projects carried out by us in FY2021.3 took place inthe Kanto region and westward where the number of days with temperatures of 30
degrees or higher was very high. Worsening working environments due to higher
temperatures risks lowering productivity at sites to the west of Kanto as it leads to more
17

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
cases of heatstroke at construction sites, concomitant decreases in work efficiency andmore days off for workers as well as higher risk of accidents. The Obayashi Corporation
recorded 3 cases of heatstroke in FY2021.3, with 24 employees taking at least one dayoff. When temperatures exceed reference values at a construction site and there is anincreased risk of heatstroke, work is temporarily suspended. This has a financial impactof lowering site productivity by about 16 million yen. This creates a risk of relatively
minor financial impact when identifying and evaluating risks based on the definition ofsevere financial impact.

Time horizon
Medium-term
Likelihood
Very likely
Magnitude of impact
Low
Are you able to provide a potential financial impact figure?
Yes, a single figure estimate
Potential financial impact figure (currency)
15,955,200
Potential financial impact figure -minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
When temperatures exceed reference values at a construction site and there is anincreased risk of heatstroke, work is temporarily suspended. This has a financial impactof lowering site productivity.
The maximum of heatstrokes that we have had in recent years was in 2013 (277 cases)x 2 days (assumed number of days off per case) x correponding daily wages (24,000yen) = 13,296,000 yen (13.296 million yen). Let's say the number of cases increases by
20% due to higher temperatures caused by global warming. That gives 13,296,000 yen
x 0.2 = 2,659,200 yen (2.6592 million yen).
The cost increase from employees taking days off due to heatstroke becomes 13,296,000
yen + 2,659,200 yen = 15,955,200 yen (15.9552 million yen).

Cost of response to risk
1,317,000,000

Description of response and explanation of cost calculation(Situation) The following three items of our Health and Safety Policy were establishedbased on the basic principle of "valuing everyone we come in contact with in ourbusiness."
1. Comply with the Industrial Safety and Health Act, other relevant laws, and Obayashi
Corporation's internal rules.
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
2. Appropriately implement and use Obayashi's Occupational Health and Safety
Management System.
3. Help improve the independent health and safety management efforts of suppliers.
In accordance with this policy, Central Guidelines for Health and Safety Measures alongwith priority measures are formulated under the leadership of the top management
every year, based on which each branch makes their own "guidelines for health andsafety measures" and implement their own concrete measures. In the "heatstroke
prevention measures" of the Central Guidelines for Health and Safety Measures, eachconstruction site is asked to measure WBGT values (heat index) as well as informworkers about these values and warn them about the heatstroke risk. Moreover, if thereference values are exceeded or may be exceeded, they should make sure to
implement prevention measures, such as securing ventilation and changing work tasks
and workplace. These are based on the Guidelines for Basic Measures to Prevent
Heatstroke in the Workplace of the Ministry of Health, Labour and Welfare.
(Challenges) In order to prevent heatstroke accidents, we need to keep track of WBGT
values and implement corresponding countermeasures. Another likely solution is tokeep track of each worker's physical condition, such as heart rate.
(Actions) In February 2015, we worked together with NTT Communications to develop
workwear using the functional material hitoe. Wearing this allows you to measureemployees' heart rate and other vital signs in real time as they work at an actual
construction site. Monitoring these together with WBGT measurements has allowed us toevaluate the utility of hazard prediction, etc. In June 2015, we also developed the Heat
Index Watcher, a system that allows the office to centrally manage information fromconsecutive measurements of WBGT (heat index) at multiple locations of a construction.
(Results) In July 2019, we updated the Envital system that manages worker safety bycentrally managing the health of workers at construction sites and the conditions of theirworkplace. We greatly improved convenience and utility, for example by switching thebiosensors making up the system from shirt-type to wristband-type heart rate sensors,obtaining position information to improve management functionality, and adding an
emergency alert function. At the same time, we decided to launch the Heat Index
Watcher full-scale, introducing it at about 300 active construction sites across Japan. As
a result of continuously introducing the Envital system and the Heat Index Watcher also
in FY2021.3, the number of heatstroke cases in FY2021.3 was 60 fewer than in
FY2020.3.

Based on the FY2021.3 environmental accounting, the management costs are included in
the indirect expenses related to research and development: approx. 1,127 million yen +"monitoring and measurement costs": 158 million yen + "environmental damage
provisions and insurance costs": 32 million yen = 1,317,000,000 yen (1,317 million yen).

Comment
ID
Risk 2

Where in the value chain does the risk driver occur?
Direct operations
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Risk type and Primary climate-related risk driver
Acute physical
Increased severity and frequency of extreme weather events such as cyclones
and floods
Primary potential financial impact
Increased direct costs
Company- specific description
Sudden typhoons and floods are a major risk in the construction business, which is the
Obayashi Corporation's primary business, that can lead to landslides in developed land,
flooding and inundation of underground construction sites, damage to buildings,
structures, materials, and construction equipment, as well as construction delays.
Big typhoons hit locations across Japan in 2017 and 2018, causing damage to all ourdomestic bases, but the biggest damage was done in the Kansai area. The Obayashi
Corporation is one of the development contractors and builders working on the
Umekita 2nd Project (provisional name), for which construction started in December
2020, so typhoon damage is a major risk. If physical risks such as sudden typhoons or
floods occur and their severity increases, it might be necessary to pay for repairs tostorm damage or hire more staff to make up for construction delays, thus increasing
capital costs causing a financial impact of about 2.6 billion yen. This creates a risk ofsevere financial impact when identifying and evaluating risks based on the definition ofsevere financial impact.

Time horizon
Short-term
Likelihood
LikelyMagnitude of impact
Medium-high
Are you able to provide a potential financial impact figure?
Yes, a single figure estimate
Potential financial impact figure (currency)
2,600,000,000

Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
If physical risks such as sudden typhoons or floods occur and their severity increases, it
might be necessary to pay for repairs to storm damage or hire more staff to make up forconstruction delays, thus increasing capital costs causing a financial impact.
Damage repair and construction delay recovery expenses amount to the Obayashi
Corporation's FY2021.3 domestic civil engineering sales at 342.2 billion yen x 0.2% =648,400,000 yen (approx. 0.7 billion yen) and the Obayashi Corporation's FY2021.3
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
domestic building construction sales at 964.7 billion yen x 0.2% = 1,929,000,000 yen(approx. 1.9 billion yen).
[0.2% = reflects impact of large-scale natural disasters on GDP in a developed country(source: Tokio Marine Nichido global warming seminar, The Role of Finance andInsurance against Climate Change material, November 18, 2008)], civil engineeringdamage repair and construction delay recovery expenses at 0.7 billion yen +construction damage repair and construction delay recovery expenses at 1.9 billion
yen = 2,600,000,000 yen (2.6 billion yen)

Cost of response to risk
190,000,000
Description of response and explanation of cost calculation(Situation, challenges) If physical risks such as sudden typhoons or floods occur andtheir severity increases, it might be necessary to pay for repairs to storm damage or hire
more staff to make up for construction delays, thus increasing capital costs causing afinancial impact.
(Actions) The Obayashi Corporation addresses risks with regard to disasters atconstruction sites using the following methods: (1) prediction and prevention, (2)avoiding and minimizing damages, and (3) risk-shifting.
(1) Prediction and prevention (ordinary times): Establish a typhoon countermeasures
headquarters in the head office and every branch to gather detailed information about
typhoons and bomb cyclones from the Japan Meteorological Agency and private datacompanies. When Typhoon Haishen, which formed in the Ogasawara sea on
September 1, 2020, approached Okinawa and Kyushu, the disaster countermeasures
headquarters received detailed typhoon reports 1-4 from private data companies,
anticipated multiple patterns of risk size depending on how the typhoon approaches,and decided on stand-by staff and location-specific support organizations according to
the relevant patterns.
(2) Avoiding and minimizing damages (typhoon approaching or after passing):
Measures were taken to prevent materials and equipment from flying off at theconstruction sites of the Kyushu branch, using check sheets prepared in advance.
Measures such as putting staff in stand-by were taken at construction sites according to
the above patterns under the leadership of the Kyushu Branch's construction project
departments. In case of damage to buildings that were completed or under construction,
they were reported to the head office and support was provided to buildings in need ofmaterial or personnel support through the aforementioned support organizations, basedon designated procedures. After the typhoon passed, information about damages andclients was collected and aggregated according to the above procedures.
(3) Risk-shifting: Standard construction contracts will have the client (orderer) bear risks
relating to serious damage due to natural disaster, but our construction insurance, etc.
provided compensation that allowed us to shift and reduce risk.
(Results) (1) Prediction and prevention, (2) avoiding and minimizing damages, and(3) risk-shifting were implemented against the physical risks of Typhoon Haishen.
Based on the FY2021.3 environmental accounting, the management costs are includedin "monitoring and measurement costs": 158 million yen + "environmental damage
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
provisions and insurance costs": 32 million yen = 190,000,000 yen (190 million yen).

Comment

ID
Risk 3

Where in the value chain does the risk driver occur?
Upstream

Risk type and Primary climate-related risk driver
Emerging regulation
Carbon pricing mechanisms
Primary potential financial impact
Increased direct costs
Company- specific description
Large volumes of energy are consumed during construction in the construction business.
The Obayashi Corporation consumed about 42,000 KL in diesel fuel and 115,000 MWh
in power during construction in FY2021.3. Moreover, steel, cement, and other principal
materials consume large volumes of energy during production. The CO2 emitted to
produce the steel and cement used by the Obayashi Corporation in FY2021.3 was
1,380,000 tons. Material procurement costs might increase if carbon taxes are levied onthese materials and since higher procurement costs are directly linked to higher
construction costs, there is a risk that it may affect business performance when pricepass-through is not possible in an excessively competitive construction market.
Transitional risks for the Obayashi Corporation's supply chains amount to about 1.55
billion yen in additional construction costs if carbon taxes are introduced, energy costs
increase, and the taxes are levied on the principal materials. This creates a risk ofsevere financial impact when identifying and evaluating risks based on the definition ofsevere financial impact.

Time horizon
Medium-term
Likelihood
LikelyMagnitude of impact
Medium-high
Are you able to provide a potential financial impact figure?
Yes, a single figure estimate
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Potential financial impact figure (currency)
1,550,000,000
Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
Transitional risks for the Obayashi Corporation's supply chains consist of additional
construction costs if carbon taxes are introduced, energy costs increase, and the taxes
are levied on the principal materials. The CO2 emitted to produce the steel and cement
used by the Obayashi Corporation in FY2021.3 was 1,380,000 tons. If price pass-throughof raw material costs to construction costs is not possible, this will increase theconstruction cost price and impact revenue.
The CO2 emitted by the Obayashi Corporation's energy consumption during
construction is about 170,000 tons x added global warming tax 1,000 yen/t-CO2 =170,000,000 yen (170 million yen). The CO2 emitted during production of steel andcement used by the Obayashi Corporation in FY2021.3 was about 1.38 million tons x
1,000 yen/t-CO2 = 1,380,000,000 yen (1.38 billion yen).
The added carbon tax is 170,000,000 yen (170 million yen) + 1,380,000,000 yen (1.38
billion yen) = 1,550,000,000 yen (1.55 billion yen).

Cost of response to risk
6,100,000,000
Description of response and explanation of cost calculation(Situation) As a construction company, the Obayashi Corporation is able to directlyreduce CO2 emissions at our own discretion by decarbonizing our facilities and building
low-carbon structures.
(Challenges) The Obayashi Corporation has a target of reducing CO2 emissions by 85%
by 2050 (2013 baseline) through technological development that contribute torationalizing and increasing the productivity of construction and introducing innovative
solutions in the field, thereby reducing energy consumption.
(Actions) As an example of technological development that contributes to increased
productivity, we have developed the world-first Energy-saving Shield Construction
Method, which combines high-speed construction with reduced power usage whenconstructing tunnels by digging underground with a large cross-section shield machine,
thereby realizing a highly efficient digging method that is about 25% faster andcombines about 30% less energy than conventional methods. Other ways we are solidly
achieving our targets for reducing CO2 emissions are switching the temporary lighting
at sites to LED, introducing highly efficient heavy machinery for construction, andtraining workers to drive fuel-efficiently, thereby reducing the risk of higher production
costs due to changes in investment prices.
(Results) In FY2021.3, our target was to reduce emissions by 15.0% compared to
FY2014.3, and we reduced them by 28.3%.
Based on the FY2021.3 environmental accounting for the Obayashi Corporation alone,
the management costs are included in R&D expenses during design: about 5 billion
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
yen + indirect expenses relating to R&D: about 1.1 billion yen = about 6,100,000,000
yen (6.1 billion yen).

Comment

C2.4(C2.4) Have you identified any climate-related opportunities with the potential to have asubstantive financial or strategic impact on your business?
Yes

C2.4a
(C2.4a) Provide details of opportunities identified with the potential to have asubstantive financial or strategic impact on your business.

ID
Opp1

Where in the value chain does the opportunity occur?
Direct operations
Opportunity type
Products and services
Primary climate-related opportunity driver
Development and/or expansion of low emission goods and services
Primary potential financial impact
Increased revenues resulting from increased demand for products and services
Company-specific description
In light of the Japanese government's policy target of carbon neutrality by 2050,
reducing CO2 emissions is generally considered an urgent global challenge. One thirdof Japanese CO2 emissions come from houses and buildings, so the Obayashi
Corporation's role in reducing GHG emissions is extremely important since the domestic
construction business is its primary business and accounts for three quarters of total
sales. We are also working harder for our own facilities to meet demand for new energysaving buildings that keep down CO2 emissions as well as energy-saving improvements,
such as increasing facility efficiency and enhancing buildings' insulation. Eco-Navi,
which is a simulation software for identifying the most effective combinations of energysaving techniques to accommodate client budgets and building information, hascontinued to evolve in parallel with progress in buildings and facilities since its creationin 1998. In addition to clinic and school versions, a new version is being developed tohandle building renovation and meet a variety of needs. The Thermal Shield Method,which uses paint that has high sunlight reflectivity to keep surface temperature from24

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
rising, reflects the infrared sunlight that shines on rooftops and such to reduce the air
conditioning load through thermal insulation and contribute to energy conservation. We
are certain that we can increase the opportunities for the Obayashi Corporation toreceive orders also through our accumulated know-how and ability to propose solutions
through a variety of other energy-saving construction methods, energy-saving design
technologies, and new technological development. By developing and expanding lowemission construction and services, we hope to boost our ability to build and offer
services through design and construction methods that utilize our technological andmanagerial abilities to contribute to reducing CO2 emissions, which will increasedemand for our products and services, thereby increasing profits. We estimate thefinancial impact from this "opportunity" to be 330 billion yen in "increased construction
and services sales in construction design." This constitutes an opportunity withtremendous financial impact when identifying and evaluating opportunities based on thedefinition of severe financial impact.

Time horizon
Medium-term
Likelihood
Very likely
Magnitude of impact
Medium-high
Are you able to provide a potential financial impact figure?
Yes, a single figure estimate
Potential financial impact figure (currency)
329,900,000,000
Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
By developing and expanding low-emission construction and services, we hope to boost
our ability to build and offer services through design and construction methods thatutilize our technological and managerial abilities to contribute to reducing CO2
emissions (which will increase demand for our products and services, thereby
increasing profits).
We estimate the financial impact from this "opportunity" to be "increased construction
and services sales in construction design."We estimate an increase of 321.9 billion yen
in orders per year: 321,900,000,000 yen increase in construction and design sales[321.9 billion yen = (2020 construction sales: 1.1621 trillion yen, of which 55.4% wasfrom construction design) x 50% (estimated part contributing to orders received)]
8,000,000,000 yen (8 billion yen) increase in design and other services; "increased
construction and services sales in construction design" = 321,900,000,000 yen (321.9
billion yen) + 8,000,000,000 yen (8 billion yen) = 329,900,000,000 yen (329.9 billion
yen)

Cost to realize opportunity
25

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

5,895,000,000
Strategy to realize opportunity and explanation of cost calculation(Situation) The Obayashi Corporation receives orders by convincing our clients of theexcellence of our energy-saving technologies and meeting demand for energy-savingbuildings.
(Challenges) To do this, we must continue to work to develop technologies that canmeet society's energy-saving needs, identify demand, increase opportunities for orders,and boost order accuracy. Moreover, we must provide clients with high-performance,
eco-friendly facilities through ZEB (net-zero energy buildings: making the facilities
themselves carbon-neutral without relying on emissions trading, etc.) in order to secureorders for building new energy-saving buildings and making energy-saving
improvements, such as increasing facility efficiency and enhancing building thermal
insulation.
(Actions) To do this, we engaged in technological development as described under (1) to(4) below.
(1) (Competitive product planning as a comprehensive construction company) In 2011,
the Techno-Station (in the main building of Obayashi Technical Research Institute(Kiyose City, Tokyo) completed its basic plan to become a ZEB (zero energy building)with net-zero energy consumption by covering the energy needs using the facilities' own
renewable power generation. Moreover, in the Harumi 2-Chome Project, for which the
Obayashi Corporation is involved in the construction, we have developed andimplemented ZEB technology, including external heat load control and optimization offacilities and equipment using operational data from existing Obayashi Group buildings.
(2) (Enhancing our business promotion system to increase opportunities for orders
together with their accuracy) Using our accumulated construction track record, wemanage and maintain clients' building history databases as well as manage and support
the maintenance, management and operation of real estate, thereby "identifying" and"securing" needs with regard to building and improving energy-saving buildings while
communicating with our clients. In April 2020, we established a Marketing Division at
the main office to achieve further enhancements.
(3) (Introducing and collecting records of consulting services relating to energy
conservation for clients) Since the 1990s, we have been developing the system EcoNavi, which is a software for simulating effective building energy-saving techniques
based on a record of the performance and energy use of clients' existing facilities, toprovide clients with consulting services about energy needs and cost-effectiveness.
Additionally, in compliance with the Revised Energy Conservation Act, we havedeveloped Raku-Eco, a support software for managing energy usage by using cloudcomputers, for use in client services and our own facilities.
(4) (Enhancing our ability to propose designs and technological ability) In addition to therecord of the use of the above Eco-Navi and Raku-Eco, we make suggestions for
reducing CO2 emissions using CASBEE, which is a technique for "designs that are kindon the environment," in our design work. In 2016, we developed Eco-Navi® (cityversion), which is an energy system design support tool that can optimize wide-areaenergy usage and create networks between multiple building groups in smart cities, andthen updated it in FY2021.3.
26

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(Results)(1) The Techno-Station in the main building of Obayashi Technical Research Institute(Kiyose City, Tokyo) has become a ZEB (zero energy building) (*1) with net-zeroenergy consumption by covering the energy needs using the facilities' own renewable
power generation, using FY2015.3 operational performance, and remains so in
FY2021.3. The Harumi 2-Chome Project is expected to gain ZEB Ready certification
without introducing any special energy-saving devices.
(2) In FY2021.3, orders received in private non-manufacturing for construction went up by
15% compared to FY2020.3.
(3) In FY2021.3, there was an increase in the number of matters where "Eco-Navi" and"Raku-Navi" were applied.
(4) CASBEE evaluation in FY2021.3 allowed us to reduce operational CO2 emissions
reduction rate by 23% compared to a standard building.
Based on FY2021.3 environmental accounting, the realization costs included "R&D
costs": (3,860 million yen) + "environment-related departmental costs": (312 million yen) +"environment-friendly design costs": (1,723 million yen) = (5,895,000,000 yen (5,895
million yen)).

Comment
ID
Opp2

Where in the value chain does the opportunity occur?
Direct operations
Opportunity type
Products and services
Primary climate-related opportunity drive
Development of new products or services through R&D and innovation
Primary potential financial impact
Increased revenues through access to new and emerging markets
Company-specific description
If the construction business, which is the Obayashi Corporation's primary business, isaffected by a considerable contraction of the construction market due to an economic
downturn in Japan or overseas, it might impact the group's performance as it receives
fewer orders. The Obayashi Corporation works to improve sales strengths, procurement
ability, and productivity in accordance with medium- to long-term market trends, but it isalso working to diversify revenue sources by expanding business domains. As part ofthis, the entire Obayashi Group is promoting "renewable energy businesses" as anaction plan for the sake of realizing a "decarbonized" society, which is a concrete
initiative in the long-term Obayashi Sustainability Vision 2050. By accessing new andemerging markets for solar power generation, wind power generation, and other"renewable energy businesses" and promoting them as a group-wide effort, we expect27

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
increases in profit from selling power to power companies in the long term based on
feed-in tariff system for renewable energy. We had 44 power plants producing
renewable energy in 30 locations across Japan as of March 2021, generating amaximum of 153 MW. As part of our investments in projects for building, maintaining,and operating wind power stations in recent years and for Mitanehamada wind power
station, which commenced operation in November 2017, we developed the Wind Lift
method that allows assembly of a wind turbine without the need for lifting with a large
crane. This high level of technological ability was recognized with the 2020 Outstanding
Civil Engineering Achievement Award of the Japan Federation of Construction
Contractors. By accessing new and emerging markets for solar power generation, wind
power generation, and other "renewable energy businesses" and promoting them incooperation with Obayashi Group companies, we expect increases in profit from selling
power to power companies in the long term based on feed-in tariff system for renewableenergy. Specifically, we expect a financial impact from this "opportunity" that amounts to
660 million yen in profits from renewable energy price fluctuations. This is an
opportunity that can have a moderate financial impact when identifying and evaluating
opportunities according to the definition of "severe financial impact."

Time horizon
Medium-term
Likelihood
LikelyMagnitude of impact
Low
Are you able to provide a potential financial impact figure?
Yes, a single figure estimate
Potential financial impact figure (currency)
663,740,000
Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
By accessing new and emerging markets for solar power generation, wind power
generation, and other "renewable energy businesses" and promoting them as a groupwide effort, we expect increases in profit from selling power to power companies in thelong term based on the feed-in tariff system for renewable energy. The FY2021.3 salesof the Obayashi Clean Energy Corporation, which includes affiliated subsidiaries
engaged in renewable energy businesses, were 9,482,000,000 yen (9.482 billion yen).
Profits from renewable energy price fluctuations = Obayashi Clean Energy Corporation
FY2021.3 sales x anticipated future power price rate of increase = 9,482,000,000 yen
28

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
(9.482 billion yen) x 7% anticipated future power price rate of increase = 663,740,000
yen (663.74 million yen)

Cost to realize opportunity
106,000,000
Strategy to realize opportunity and explanation of cost calculation(Situation) We have decided to implement a project for constructing, maintaining, andoperating fixed-bottom type offshore wind power stations as Japan's first commercial
large-scale offshore wind power generation business at Akita and Noshiro Ports in Akita
Prefecture, working jointly with other companies through Akita Offshore Wind
Corporation, a special purpose company that we invested in in July 2016. This project
aims at constructing, maintaining, and operating offshore wind power stations with total
capacity of about 140,000 kW and sell power to Tohoku Electric Power based on the
feed-in tariff system for renewable energy over 20 years starting with thecommencement of operations in 2022.
(Challenges) The total project cost is about 100 billion yen, so the risk of the Obayashi
Corporation having to foot the whole investment was a challenge.
(Actions) As such, we hoped to procure low-cost development capital by issuing ourown green bonds for our own "renewable energy businesses." The green bonds issued
by the Obayashi Corporation in October 2018 were to be used to promote solar power
generation, wind power generation (onshore, offshore), and other renewable energy
businesses. Through these green projects, we sought to diversify the Obayashi
Corporation's power sources and revenue base.
(Results) New Obayashi Corporation sustainability bonds were issued in June 2019.
Part of the capital procured through these sustainability bonds was used to fundrenewable energy businesses such as a hydrogen production plant demonstration
experiment as well as the Otsuki Biomass Power Plant and the Kamikita Ogawara
Onshore Wind Power Plant (planned). Otsuki Biomass is already operating andconstruction started on the Kamikita Ogawara Wind Power Generation Business, whichis the Obayashi Corporation's second onshore wind power generation project, in
September 2020.
The procurement costs are green bond issuance costs 53 million yen + sustainability
bond issuance costs 53 million yen = 106,000,000 yen (106 million yen).

Comment
ID
Opp3

Where in the value chain does the opportunity occur?
Direct operations
Opportunity type
Products and services
29

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Primary climate-related opportunity driver
Development of climate adaptation, resilience and insurance risk solutions
Primary potential financial impact
Increased revenues resulting from increased production capacity
Company-specific description
The Obayashi Corporation's civil engineering business is one of our specialities where
we competitively construct structures for storing water underground in urban areas,
which requires advanced construction technology, and restore large-scale infrastructure,for instance with dam reconstruction.
According to the Japan Meteorological Agency's Japan's Climate Change, global
warming has caused an increase in days in which at least 100 mm of rain falls and shortperiods of heavy rain where at least 50 mm falls in recent years. As a result, thecapacity of rivers and waterways are frequently exceeded. Preparing temporary
underground water storage functions in urban areas and dredging rivers and dams are
effective ways to prevent this flood damage, which we consider an opportunity. In
particular, our evaluation is that order opportunities for the Obayashi Corporation's
domestic civil engineering will increase because the typhoons have been impacting notjust western Japan, where we have a rich construction track record, but all of Japan inrecent years. This access to new markets is expected to expand our opportunities forreceiving orders and earning revenue, as we possess advanced construction
technology and have an advantage in terms of bidding price. We classify construction ofunderground rivers and reservoirs, river repairs and improvements, river dredging, andconstruction of seawalls to be climate-adaptation civil engineering. If we propose new
solutions to such climate-adaptation needs that are accepted and lead to more orders
and higher revenue per year, we define that as a financial impact. We consider thefinancial impact of this "opportunity" to be a maximum of 3,000,000,000 yen (about 3
billion yen) in more climate-response civil engineering orders per year as a result ofdeveloping climate-adaptation solutions. This constitutes an opportunity withtremendous financial impact when identifying and evaluating opportunities based on thedefinition of severe financial impact.

Time horizon
Short-term
Likelihood
Very likely
Magnitude of impact
MediumAre you able to provide a potential financial impact figure?
Yes, an estimated range
30

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Potential financial impact figure (currency)
3,000,000,000
Potential financial impact figure - maximum (currency)
20,000,000,000
Explanation of financial impact figure
Climate change is making situations where the capacity of rivers and drainage areexceeded more frequently. These flood damages are increasing the need to make thenational land more resilient. Consequently, the government has made a cabinet
decisions to add more than 3 trillion yen to the budget to maintain key infrastructure
functions during disasters through three-year emergency measures for national land
resilience until 2020, thus expanding the disaster civil engineering construction market.
Especially effective climate change-adaptation technologies include preparing temporary
underground water storage functions in urban areas and dredging rivers and dams, so
we are seeing the emergence of a new market for public works as local governments arewanting to build drainage and rainwater trunk lines using small- and medium-sized crosssection shield technology. This access to new markets is expected to expand ouropportunities for increased revenue (sales), as we possess advanced construction
technology and have an advantage in terms of bidding price. If we propose new civilengineering solutions to such climate-adaptation needs that are accepted and lead tomore orders and higher revenue per year, we define that as financial impact.
[We classify construction of underground rivers and reservoirs, river repairs andimprovements, river dredging, and construction of seawalls to be climate changeadaptation civil engineering, and anticipate three to four such projects (about 1-5 billion
yen per project) per year in urban areas.]
We estimate that developing solutions for climate change adaptation can earn us anannual 3,000,000,000 yen (about 3 billion yen) to 20,000,000,000 yen (20 billion yen)
in climate change-adaptation civil engineering orders.
At least 1 billion yen per project x 3 projects + 5 billion yen x 0 =3,000,000,000 yen (3billion yen); at most 1 billion yen per project x 0 + 5 billion yen x 4 projects =20,000,000,000 yen (20 billion yen).

Cost to realize opportunity
4,172,000,000
Strategy to realize opportunity and explanation of cost calculation(Situation) The Obayashi Corporation is developing and improving technologies with
"Increase in awareness of disaster readiness and mitigation against the threat ofdamage from natural disasters and demand for clean energy" in mind, as defined in the2017 medium-term business plan. The Obayashi Corporation possesses a wealth oftechnologies for digging, shield tunneling, and dam construction to prepare
underground water storage functions and dredge rivers and dams, considering this oneof our specialty areas.
(Challenges) When conducting shield tunneling, in places where the groundwater fromthe layers closer to the shield tunnel is used, there has been a growing need forenvironment-friendly solutions in recent years due to fears of the risk that tail grease31

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
might leak into the water. Moreover, accurately placing the concrete molds needed tobuild gravity dams takes a great deal of time and effort even from highly trained workers,
so automating and reducing the manpower need for moving and installing concrete molds
is an important challenge for increasing productivity in the future.
(Actions) The Obayashi Corporation developed SEALNOC BD, which is a highperformance tail seal material for shields that is also environment-friendly, incooperation with ENEOS in September 2020. Moreover, in November 2020, we applied
the mold automatic slide system, which is one of the technologies integrated in the dam
computerization construction technologies ODICTTM, at the main body of Kawakami
Dam (Iga City, Mie; client: Japan Water Agency).
(Results) SEALNOC BD is an improvement of conventional tail seal materials thatprevent contamination of the groundwater during shield tunneling. It uses abiodegradable material to minimize its environmental impact and was the first to beawarded an eco mark in Japan. Moreover, the development of the mold automatic slide
system combined elevator scaffolds with an automatic climbing function and ameasurement system to check mold location, thereby enabling full automation of alltasks from demounting a mold from the formed layer and sliding it vertically to deciding
placement and installation by using a tablet.
Based on FY2021.3 environmental accounting, the realization costs are included in "R&D
costs": (3,860 million yen) + "environment-related departmental costs": (312 million yen) =(4,172 million yen).

Comment

C3. Business Strategy
C3.1(C3.1) Have climate-related risks and opportunities influenced your organization’s
strategy and/or financial planning?
Yes, and we have developed a low-carbon transition plan

C3.1a
(C3.1a) Is your organization’s low-carbon transition plan a scheduled resolution item at
Annual General Meetings (AGMs)?
Is your low-carbon transition plan a scheduled resolution item at AGMs?

row
1

Comment

No, and we do not intend it to become a scheduled resolution item within thenext two years

C3.2(C3.2) Does your organization use climate-related scenario analysis to inform its
strategy?
Yes, qualitative and quantitative

C3.2a
32

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C3.2a) Provide details of your organization’s use of climate-related scenario analysis.
Climate-related
scenarios and models
applied

Details●RCP 2.6

Based on the emission goals by sector (e.g., reduction from 429 million
tons to 401 million tons in the industrial sector) for the target of"reducing energy source CO2 by 25% compared to FY2014.3 by
FY2031.3" in "Japan's draft agreement," which details the reduction
targets (NDCs) submitted by Japan for the Paris Agreement, theObayashi Corporation collates the relevant areas of our businesses(e.g., emissions from construction and material production fall under
production departments, while emissions from our own facilities andbuilding management fall under administration departments) and checks
the upper limit for emissions compared to FY2014.3 from our businessactivities and sets CO2 emissions targets for 2030 by categorizing andaccumulating direct contributions from decarbonizing our own facilities
and building low-carbon structures as well as indirect contributions fromdeveloping and disseminating low-carbon technologies and materials
and proposing and designing energy-saving construction. Moreover, thetarget of "an 80% reduction by 2050" in the national Plan for Global
Warming Countermeasures for 2050, is cited for the total 80% reduction
goals by sector in 2030 in the aforementioned "Japan's draft agreement"
when checking the upper limit for 2050 emissions from our businessactivities and setting our targets.
The targets in the "Japan's draft agreement" are designated and●RCP 8.5●IEA Sustainable
development
scenario●Other, please
specify
Stated Policy
Scenario（STEPS）by the
IEA

recorded as consistent with the RCP2.6 2℃ target in the IPCC Fifth
Assessment Report, so you could say that we have selected anequivalent scenario.
In this way, consistency with the deadline for national targets (baseline
FY2014.3, targets FY2031.3 and FY2051.3) is valid in terms of sharing
the direction and scale of climate-related responses in domestic
businesses within the corporation and with stakeholders as well as
confirming activity results.
We have also calculated and defined short- and medium-term
numerical targets based on 2030 and 2050 targets.
Moreover, the Obayashi Corporation has affirmed the proposal for the
Task Force on Climate-Related Financial Disclosures (TCFD) in July
2020, analyzed the following scenarios in November 2020, anddisclosed climate-related information according to the TCFD proposal
based on the results of the analysis.
We have conducted the following scenario analysis.
• Based on the TCFD proposal, we have identified and evaluatedclimate-related risks and opportunities, anticipating and analyzing ourfour primary domestic businesses in 2030 (building construction, civilengineering, development, and new businesses) to understand the33

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

medium- and long-term impact of climate-related challenges on
businesses.
・For the analysis, we used 4℃ scenarios that anticipate a global
temperature increase of about 4℃ compared to pre-industrial revolution
by 2100 as well as 2℃ scenarios that anticipate a 2℃ increase. We
analyzed policies and market trends (transition risks and opportunities)
as well as material changes due to disasters, etc. (material risks andopportunities) for each scenario. The following are the mostrepresentative of the scenarios used.
[Principal scenarios used to analyze transition risks and opportunities]
・4℃ scenario: Stated Policy Scenario (STEPS) by the IEA (*2)
・2℃ scenario: Sustainable Development Scenario (SDS) by the IEA[Principal scenarios used to analyze physical risks and opportunities]
・4℃ scenario: RCP8.5 by the IPCC (*5)
・2℃ scenario: RCP2.6 by the IPCC
The reason for choosing the above scenarios was that we determinedthat we can effectively analyze and implement measures needed for thecompany and understanding social trends by anticipating the "progress"
after a 4℃ increase compared to pre-industrial revolution at the end of
the 21st century in the absence of effective climate-change measures as
described in the IPCC Fifth Assessment Report as well as the "proactive
transition" to a 2℃ increase that follows sufficient climate-change
measures.
Considered especially important from a variety of perspectives, thetransition risks increasing costs as carbon taxes are introduced to keep
down greenhouse gas emissions in the 2℃ scenario (SDS), while wemight see an increase in orders from relevant technological applications
for expanded energy-saving and energy recycling needs.
Risks due to material changes include effects on construction time due toworsening working conditions from rising summer temperatures while
opportunities include an increase in orders that apply our technologies tomake the national land more resilient to prevent and protect against
intensifying natural disasters, which we consider important for both 4℃
scenarios (RCP8.5) and 2℃ scenarios (RCP2.6).
The scenario analysis is used to anticipate 2030 on the basis of
consistency with national target years as well as relatively certain
predictive information for business environment and social circumstances
to consider business impact. That information is then used to examine
concrete measures.
Based on the scenario analysis, we rated impact on our four primarybusinesses as major, medium, or minor.
[Transition risks]◎Introduction of a carbon tax:
Overview)
・Cost increase when levied on CO2 from business activities
・Procurement cost increase from higher prices on construction
34

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

materials with high energy consumption
2030 impact)
4℃ scenario = minor, 2℃ scenario = major
Measures)・Promoting energy conservation during construction (fuel efficiency,
power saving)・Promoting zero emissions, increasing recycling ratio of constructionwaste, utilizing recycled and low-carbon materials
・Establishing design and construction technologies and creating supply
chains for wooden medium- and high-rise structures
・Decarbonization of construction machinery through supply chain
collaboration[Transition opportunities]◎Expanding needs for energy-saving and renewable energy
technologies
Overview)
・Increasing superiority in ZEB (net zero energy buildings) and energysaving technologies that meet society's needs
・Switching from existing energy to renewable energy
・Expanding office demand for green building certification
2030 impact)
4℃ scenario = medium, 2℃ scenario = major
Measures)・Promoting development and practical applications of ZEB technologies
that realize commercial viability and convenience・Increasing value of existing facilities and enhancing sales for energysaving remodeling・Promoting renewable energy businesses
・Providing high value-added buildings with excellent environmental
functions[Physical risks]◎Rising summer temperatures
Overview)
・Increasing health risks for workers at construction sites, includingheatstroke
・Deepening worker shortages due to worsening working environments
at construction sites
2030 impact)
4℃ scenario = major, 2℃ scenario = major
Measures)・Increasing productivity and construction safety by using labor-saving
technologies and ICT・Developing innovative technologies to improve the working
environments at construction sites
35

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

◎Intensifying natural disasters including typhoons, heavy rain and floods
Overview)
・Increasing risks such as damages to buildings under construction,suspended work, and damages to construction material suppliers due tostorms and floods
・Decreasing value of real estate in areas with high flood risk
2030 impact)
4℃ scenario = medium, 2℃ scenario = medium
Measures)・Enhancing BCP responsiveness in case of a disaster through network
solidification with supply chains
・Promoting redevelopment projects that increase environmental
functions, disaster management, and business continuity[Physical opportunities]◎Initiatives to increase national land resilience
Overview)
・Expanding demand for construction, maintenance, and repairs of
infrastructure to prevent and decrease disaster risk and increase national
land resilience2030 impact)
4℃ scenario = major, 2℃ scenario = major
Measures)・Promoting development and practical applications of technologies toprevent and decrease disaster risk and increase resilience
・Enhancing sales for constructing, maintaining, and repairing
infrastructure
・Promoting an integrated business using ICT from surveys andinspections to evaluations, diagnosis, repairs, and reinforcement
construction
Based on the above scenario analysis results, the Obayashi Corporation
confirmed the need to considerably reduce Scope 1 and 2 as well as
revise long-term emissions targets. The following are concretely
anticipated cases that can impact business strategy based on the
scenario analysis results.
It has become clear that we need to reduce use of fuel and power for construction much more than
before as well as promote business strategies in the form of increasing the ratio of renewableenergy, purchasing low-carbon and decarbonized power, and increasing the decarbonization andefficiency of construction equipment.
Furthermore, we are reflecting the analysis results in the measures of our business departments bypromoting the introduction of ZEB to considerably reduce power used to manage buildings in ourvalue chains, and we predict that we will be able to contribute to the transition to a decarbonizedsociety.
For the urgent task of reducing CO2 emissions, we are "Promoting energy conservation during
construction (fuel efficiency, power saving)" as described under transition risks, increasing our direct36

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
contributions to a 67% reduction of emissions in FY2021.3 (58% in FY2020.3).
The Obayashi Corporation has developed the medium- to long-term Obayashi Green Vision 2050,
advancing environmental measures that we have long considered important and promoting activities
to achieve the aforementioned targets for direct and indirect contributions to realize a decarbonizedsociety. In 2019, we developmentally revised it into the long-term Obayashi Sustainability Vision 2050
by adding a broad ESG perspective. When doing so, we followed the "Japan's draft agreement" on
reducing CO2 emissions by reaffirming our targets with FY2014.3 as the baseline according to theaforementioned 2℃ target (RCP2.6) from the IPCC Assessment Report. When revising the vision,
we sought to make it consistent and connected with our Medium-Term Business Plan 2017 for the
2017-2021 period, making "ESG initiatives" a business foundation strategy and promoting them asbusiness measures by identifying "forming a society that is kind to the environment" as one of the six
ESG priorities and defining action plans and KPIs. The action plans and KPIs are formulated
according to our long-term visions, and the same is true for reducing CO2 emissions. We consider
these ESG initiatives as part of our business foundation strategy and they influence our financial
plans through our business activities.

C3.3(C3.3) Describe where and how climate-related risks and opportunities have influenced
your strategy.
Businessarea

Products
andservices

Have climaterelated risks andopportunities
influenced yourstrategy in thisarea?

Description of influence

Yes

The main products and services offered by the Obayashi
Corporation are building construction and design. Design andconstruction make up the main part of the construction industry,
but the management of buildings as products (when used after
delivery) is associated with considerable greenhouse gas
emissions, so it is important to work to keep those emissions
down in the same way that we do during the construction stage.
In the current situation, we need to reduce greenhouse gas
emissions considerably by strengthening regulations andthrough other measures in accordance with the Japanesenational policy for the Paris Agreement in 2015 ("Japan's draft
agreement") and the 2050 Carbon Neutrality Declaration of theJapanese government in September 2020. We assume thatsimilar measures are needed on the construction market. The
national Energy Basic Plan also states that "we shall aim torealize ZEB on average for all new constructions by 2030,
including new public buildings by 2020." More concretely, weneed to implement measures that reduce greenhouse gas
emissions at the management stage to fight climate change, and
it is likely that we will see an increase in orders for ZEB (zero37

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

energy buildings) that aim to eliminate such emissions. As partof this, we need to possess technologies and know-how toconstruct buildings that can meet client needs or we will risk
missing more orders and see a drop in sales. Meanwhile, if we
do secure superior technologies and know-how, we should see
more orders and increases in sales as we expect it to have an
impact on the construction and development businesses.
In the Obayashi Corporation's TCFD scenario analysis, thegrowing importance of ZEB and energy-saving technologies in
response to social needs from expanded demand for energysaving and renewable energy technologies was identified as atransition opportunity, to which we aim to respond by "promoting
the development and practical application of ZEB technologythat provides comfort and is business-feasible."
The above suggests the need to supply the market withbuildings that emit less greenhouse gases as well as the needfor solutions in the form of 1) developing and possessing
technologies for buildings that accommodate regulations andneeds and 2) concomitant strengthening of our competitivenessand ability to present technologies.
In this, we consider 1) the regulations and needs to be shaped
by Japan's draft agreement, which is why we have calculated
upper limits for emissions from building management in 2030 bycollating that draft with our business size and contents. We arecalculating and reflecting a total reduction rate for emissions sothat they do not exceed those limits. Thus, we set emissions
reduction targets in line with national regulations and work
together with our technological development departments toachieve them, thereby enabling us to acquire the technologicalability to supply the market with buildings that can meetdemands.
Moreover, in terms of measures for 2) strengthening of ourcompetitiveness and ability to present technologies, we use
CASBEE (Comprehensive Assessment System for Built
Environment Efficiency) to assess design and construction jobs
and set numerical targets for CO2 emissions reduction per unit offloor space managed in "relevant buildings" (buildings withspecifications as designed by us) as compared to "referencebuildings" (buildings with average specifications defined by
CASBEE). This allows us to strengthen our competitivenessthrough our ability to present technologies by promoting the
introduction of energy-saving technologies.
Regarding 1), we are continuing our activities with a medium- tolong-term target of -25% in FY2031.3 compared to FY2014.3 for38

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

our reduction rate of indirect contributions to emissions. In
FY2021.3, it was -21％ compared to FY2014.3.
Regarding 2), it was -23％ in FY2021.3 in terms of emission

Supplychain
and/or
value
chain

Yes

intensity during management of CASBEE reference buildings(annual, per unit of floor space). As CASBEE is regularly
revised, we always aim to achieve better total environmental
performance than for buildings and infrastructure with standard
specifications, with the reference buildings of that year as anindex, continuing our activities working toward theaforementioned reduction rate for emissions output during
management.
The management emissions of buildings supplied to the market
is one of the principal components of the "indirect contributions
to emissions" which is the basis for calculating 1) according to
the corporation's divisions. As this is an accumulation of annual
emissions during management for our design and construction
jobs as calculated from the results of 2), so supplying buildings
with high environmental performance (low emissions) to themarket may be considered contributing to reducing greenhousegas emissions from products and services.
The corporation considers "establishing an environmentally
responsible society" an ESG Materiality and conducts activities
with action plans for "promoting environment-friendly
businesses" and "promoting decarbonization" as well as KPIs.
ESG initiatives were identified as business foundation strategy in
the Medium-Term Business Plan 2017. Moreover, the MediumTerm Business Plan is based on the long-term Obayashi
Sustainability Vision 2050 and strategically important decisionmaking. These activities are having effects on businessstrategies in the construction and development businesses.
The Medium-Term Business Plan 2017 covers the five years from2017 and 2021, while the long-term Obayashi Sustainability
Vision 2050 covers the period until 2050.
The Obayashi Corporation's supply and value chains can bebroadly divided as having to do with either the production andprocurement of materials for construction (raw materials,
secondary products, equipment, etc.) or the labor at theconstruction sites (workers).
We also need to take into consideration the greenhouse gas
emissions from materials production and construction, as they
impact the market via Paris Agreement-related national
regulations in the same way that products and services do.
The national policy for the 2015 Paris Agreement ("Japan's draft
agreement") also indicates FY2031.3 emission goals by sector,
39

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

with materials production and on-site construction falling under
production departments and materials transportation falling undertransportation departments, so we need to make reductions as
appropriate for these. More concretely, measures to reducegreenhouse gas emissions to fight climate change are expected
to increase costs through the levying of carbon taxes andadditional equipment investments as regulations are strengthened
to keep down emissions during materials production and on-site
construction. Rising costs can lead to lower competitiveness,missing out on orders, and reduced profitability, so it can have an
impact in terms of decreasing sales and revenue. Meanwhile,development of materials that minimize greenhouse gas
emissions during production can increase competitiveness,
expand orders, and have an impact in terms of boosting sales.
The Obayashi Corporation also identifies higher prices andprocurement costs for energy-consuming construction materials
with the introduction of a carbon tax as transition risks in our
TCFD scenario analysis, and intends to counter this by"establishing designs and construction technologies for building
wooden medium- and high-rise buildings as well as creating
relevant supply chains."
Moreover, considering that slight temperature increases atconstruction sites are unavoidable even if we fight climatechange, we will see lower work efficiency as working outdoors
will be restricted during hot hours (more time for rest needed,etc.), thus leading to new costs as project timelines areextended and work has to be conducted outside regular hours
such as when temperatures are lower, which in turn is expected
to decrease sales and revenue.
The Obayashi Corporation also identifies increased health risks
for workers, such as the risk of heat stroke at construction sites
when it is hot in summer, and deepening manpower shortages
due to worsening working environments as physical risks in our
TCFD scenario analysis, and intends to counter this by "further
increasing productivity and construction safety using laborsaving technology and ICT" and "developing innovativetechnologies to improve working conditions at construction
sites."
The above factors are thought to impact both the construction
business and the development business.
For materials production, we need to choose and develop lowcarbon materials and collaborate with partner companies withregard to this, as well as implement measures to improve fuelefficiency of vehicles during materials transportation. As forlabor at construction sites, we need to mechanize, improveequipment, and develop technologies to increase work
40

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

efficiency, as well as collaborate with partner companies in thesame way as for materials production. We aim to resolve thevarious challenges by reliably implementing measures such asthese.
The corporation identifies "conducting responsible supply chain
management" as an ESG priority, has selected "promoting CSR
procurement" as an action plan, and defined KPIs.
For our activities, we have formulated the Obayashi Group CSR
Procurement Policy, and we also expect our supply chains to act
in accordance with CSR Procurement Guidelines that are basedon the aforementioned policy. As part of this, we are asked to"promote business activities that preserve the environment andreduce the environmental load." Decarbonizing materials
production and increasing transportation fuel efficiency belong to
the aforementioned initiatives promoted, while in terms of labor,
the implementation of energy-saving construction by increasing
work efficiency also falls under there.
Moreover, to steadily yield results in our development of lowcarbon materials and highly efficient construction methods, weselect R&D themes with due consideration from the initial stage
and anticipate the possibility of collaborating in open innovation,
including with our supply chains.
The corporation calculates the CO2 emissions of materials
production as category 1 "purchased goods / services" of Scope 3
and CO2 emissions of materials transportation as category 4"transportation and delivery (upstream)," which are included in thecalculation of the corporation's "indirect contributions" and "directcontributions" respectively, to evaluate total reduction rate.
Moreover, labor refers to activities at construction sites, so that
Scope 1 and 2 energy-saving activities influence CO2 emissions
and it is calculated as "direct contributions."
We connect the green procurement rate for construction
materials with emissions reductions by encouraging material
choices that take KPIs and environmental load into account.
In terms of the emission reduction rate for indirect contributions, we set
a medium- to long-term target of -25％ compared to FY2014.3 by

FY2031.3 and achieved -21％ compared to FY2014.3 in FY2021.3.
In terms of the emission reduction rate for direct contributions,
we set a medium- to long-term target of -85％ compared to
FY2014.3 by FY2031.3 and achieved -67％ compared to
FY2014.3 in FY2021.3. The green procurement rate forconstruction materials was 47%.
41

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Investment Yes
in R&D

This is tied in with our ESG priorities and associated action plans
and KPIs. ESG initiatives were identified as business foundation
strategy in the Medium-Term Business Plan 2017. Moreover, theMedium-Term Business Plan is based on the long-term
Obayashi Sustainability Vision 2050 and strategically important
decision-making. The above ESG Materialities "conducting
responsible supply chain management" and the action plan
"promoting CSR procurement" influence our business strategies
for construction and development.
The Medium-Term Business Plan 2017 covers the five-year
period from 2017 to 2021, while we aim to realize the long-term
Obayashi Sustainability Vision 2050 by 2050.
The primary business of the Obayashi Corporation is theconstruction business, so technologies relevant to construction
and buildings and infrastructure have a major impact. The
current Medium-Term Business Plan 2017 has as one of its
technology strategies "developing technologies that contributeto business by aligning with customer needs, stimulating new
demand, and reading the markets and the times." Whether weare able to develop technologies that resonated with market
needs and opportunities that have to do with climate change
measures will have a major impact on our business.
We have to reduce greenhouse gas emissions in accordancewith the national policy in the 2015 Paris Agreement as well asother laws and regulations, which also means that we need todevelop and possess technologies that match correspondingsocial needs. Concrete challenges include developing
technologies for supplying energy-saving construction andenergy-saving buildings.
The national policy for the 2015 Paris Agreement ("Japan's draft
agreement") also defines emission goals for FY2031.3 by sector,
with the management of buildings and infrastructure falling underadministration departments, materials production and on-site
construction under production departments, and materials
transportation under transportation departments, so as toanticipate reductions that suit the targets set for eachsector. Moreover, the national Energy Basic Plan states that it
aims to realize ZEB on average for new public structures by 2020and for other new structures by 2030, so we anticipate that weneed to reduce greenhouse gas emissions accordingly.
In the Obayashi Corporation's TCFD scenario analysis, thegrowing importance of ZEB and energy-saving technologies in
response to social needs from expanded demand for energysaving and renewable energy technologies was identified as atransition opportunity, to which we aim to respond by "promoting
42

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

the development and practical application of ZEB technologythat provides comfort and is business-feasible."
More concretely, as keeping down greenhouse gas emissions
to fight climate change becomes a social need, we expect tosee more orders for ZEB (zero energy buildings) that strive toeliminate greenhouse gas emissions during the management
stage of buildings and infrastructure. As part of this, we need topossess technologies and know-how that can meet client needs
or we will risk missing more orders and see a drop in sales. On
the other hand, if we secure advantages in technologies andknow-how, this may increase sales by providing more orders.
As regards materials production, the costs of materials when
keeping down greenhouse gas emissions during manufacturing
affect competitiveness, while the costs of additional equipment
to counter rising temperatures during on-site construction canalso affect competitiveness. If clients are not happy with theadded value that accompany the rising costs, there is a risk thatthe drop in competitiveness will cause us to lose orders, while
securing competitive advantages by curbing costs can lead toexpanded orders. Whether we possess such technologicalability, technologies, and know-how will impact our construction
and development businesses.
Research themes are selected annually, and we continuously
make technological development investments as appropriate bycarefully investigating and reflecting national policy, laws andregulations, and social needs. Environment-related R&D
expenses are calculated according to the environmental
accounting every year and disclosed. R&D is many times
carried out over several years, so it can be difficult to evaluate
results on a one-year basis, which is why we are looking into
techniques for analyzing the effects of adopting our new
development technologies in construction and implementing
them in buildings and infrastructure by measuring them as
indicators of emissions from our direct and indirectcontributions. Our environment-related R&D expenses were
4,987 million yen in FY2021.3.
In terms of the emission reduction rate for indirect contributions,
we set a medium- to long-term target of -25％ compared to
FY2014.3 by FY2031.3 and achieved -21％ compared to
FY2014.3 in FY2021.3. In terms of the emission reduction rate
for direct contributions, we set a medium- to long-term target of 85％ compared to FY2014.3 by FY2031.3 and achieved -67％
compared to FY2014.3 in FY2021.3.
Our reduction-rate targets for emissions from direct and indirect43

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
contributions were defined in the medium- to long-term Obayashi
Green Vision 2050 formulated in 2011, were reaffirmed with thedevelopmental revision into the long-term Obayashi Sustainability
Vision 2050 in 2019, and are still used on the basis of strategicallyimportant decision-making. Moreover, the Medium-Term Business

Plan 2017, which is a business strategy, is based on the longterm Obayashi Sustainability Vision 2050, and it is thought toimpact our construction and development businesses since it
includes R&D investments.

Operations Yes

The Medium-Term Business Plan 2017 covers the five-year
period from 2017 to 2021, while we aim to realize the long-term
Obayashi Sustainability Vision 2050 by 2050.
The primary business of the Obayashi Corporation is theconstruction business, so accurately managing climate change
measures that have to do with construction will impact our
performance.
In order to carefully examine the impact of climate-related risks
and opportunities in our business activities and reflect them in
our measures, our challenge is to create organizational andstandardized mechanisms to be used in our management.
We are promoting our business activities with the environment
as a principal management item alongside conventional safety
and quality. If the activity procedures and targets are
insufficiently specified in our management, this will reduce theefficacy of our activities to reduce greenhouse gas emissions atconstruction sites and we will not be able to achieve sufficient
reduction effects, which we expect leads to the aforementioned
risks under "Products and services," "Supply and value chains,"
and "R&D investments." On the other hand, if the management
is conducted sufficiently, this can allow us to achieve reductionin the various domains as previously explained.
These initiatives have an especially major impact on theconstruction business, but it is important to see them asaffecting all businesses and departments since they are thebasis of all our business activities.
The Obayashi Corporation's TCFD disclosure item
"Governance" states that, "Obayashi's CSR Committee was put
in place to promote business activities based on the Obayashi
Basic Principles and Group-wide CSR activities with an ESG
perspective. It is headed up by the Representative Director andPresident and has a membership consisting of General
Managers of divisions and other executive officers. Meeting44

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

once a year, the CSR Committee sets basic CSR policies that
include initiatives on climate problems, drafts policies andspecific action plans, and reviews achievements of initiatives.
The ESG & SDGs Department of the Corporate Strategy
Division serves as secretariat for the CSR Committee. It drafts,
promotes, and monitors the progress of measures to promote
ESG management and SDG achievement, disseminates
information, instills relevant practices within the Group, andpromotes Group-wide initiatives." We have publicized aschematic of our change-related governance structure andorganizational overviews of each organization, as well as ouractivities.
The Obayashi Corporation has the aforementioned CSR
Committee chaired by the President deliberate on and confirm
climate-related risks and opportunities. The Environmental
Management Expert Committee, which is a subordinate
organization, then revises and promotes measures andimplementation plans with environment-related data that havebeen collected according to the Obayashi Environmental
Management System (EMS). The committee also monitors andreviews the setting, implementation, and performance of targets.
Furthermore, concrete activities based on the implementationplans and targets defined by the Environmental Management
Expert Committee are promoted by the environment departments
at the main office, the branches, and group companies. The CSR
Committee also reports to the Board of Directors, with the board
overseeing all climate-related risks and opportunities.
Operational effects are evaluated on the basis of progress
toward EMS targets and accompanying factor analysis as well
as feedback for next-year activities based on that analysis. The
EMS targets are defined based on the action plans and KPIs of
the ESG Materialities that are linked with the Medium-TermBusiness Plan.
As an example, the action plan "promote decarbonization" has "directcontribution of CO2 emissions reduction rate" as a KPI and a

FY2031.3 target of -85% compared to FY2014.3. We conductbusiness activities to achieve this target by setting "CO2 emissions
reduction rate during construction (FY2014.3 baseline)" as annual
targets. The FY2021.3 target was -15% and we achieved -28.3%. This is "emissions from construction," which we classify
as "direct contributions," so it is a mechanism for reflecting theresults of our activities. We ensure the efficacy of ourgreenhouse gas emission reductions by setting the targets with
EMS and having individual business departments manage
them.
45

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

ESG initiatives (ESG Materialities, action plans, and KPIs) wereidentified as business foundation strategy in the Medium-TermBusiness Plan 2017. Moreover, the Medium-Term Business Plan
is based on the long-term Obayashi Sustainability Vision 2050
and strategically important decision-making. Considering the
aforementioned connection with the ESG initiatives, EMS isbased on the business strategy of the Medium-Term Business
Plan and how well it is managed will have an impact on ourbusinesses. The Medium-Term Business Plan 2017 covers the
five-year period from 2017 to 2021, while we aim to realize thelong-term Obayashi Sustainability Vision 2050 by 2050.

C3.4(C3.4) Describe where and how climate-related risks and opportunities have influenced
your financial planning.
Financialplanning
elements thathave been
influenced

Description of influence

Row

Revenues

1

Direct costs[Direct costs]
Material costs, labor costs (personnel costs), and direct expenses(utilities costs) fall under direct costs in construction.
Material costs include the procurement of construction materials thatmake up the buildings and affect their environmental specifications.
The construction materials procured have a climate effect through theCO2 emitted when they are produced in the factories and transported tothe construction sites.
The national policy for the 2015 Paris Agreement (the "Japan's draft
agreement") indicates FY2031.3 emission goals by sector, withmaterials production and on-site construction falling under the industry
sector and materials transportation falling under the transportation
sector, so we need to make reductions as appropriate for these.
Moreover, the emissions from the construction work are supply chain
emissions from the client's perspective, so we expect calls for
reductions there for the same reasons.
If costs increase even if we plan the application of materials andequipment with a small environmental load, there will be a higher risk oflosing orders as construction costs go up and we lose advantages.
Conversely, if we can keep costs from going up, this will allow us tosecure advantages in terms of construction costs and obtain moreorders.
The Obayashi Corporation is promoting ESG initiatives as a businessfoundation strategy in our Medium-Term Business Plan 2017 for
FY2018.3 to FY2022.3.
46

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

As part of this, we have defined the action plan "promoting CSR
procurement" and the KPI "construction materials green procurementrate" for the ESG Materiality "Conducting responsible supply chain
management," and are working to apply materials and equipment with asmall environmental load.
Green procurement refers to initiatives to select and procure materials
and equipment with a small environmental load. The indicator that is thegreen procurement rate reflects how big a part of construction material
and equipment procurement costs consists of materials and equipmentwith a small environmental load, so a higher procurement rate means asmaller environmental load.
Achieving the aforementioned KPI, which is a strategic target, meansincreasing the proportion of construction work that meets the need ofsmaller environmental load when receiving orders, as we are working toreach the sales and profit targets outlined by the business indicatortargets in the Medium-Term Business Plan 2017.
Furthermore, the Obayashi Corporation has Green Procurement
Guidelines for Office Supplies and Construction Materials andMachinery, thus encouraging the procurement of materials andequipment with a small environmental load in all our business activities.
In our procurement, we pay attention to the following aspects ofenvironmental load reduction and environmental conservation.
1) Promoting energy and resource conservation, 2) cutting CO2
emissions, 3) minimizing waste, 4) promoting recycling, 5) minimizing useof hazardous substances, and 6) preserving surrounding environments
and ecosystems. Moreover, when selecting items, we take into
consideration if they reduce the environmental load, if they must be
procured in great amounts, and if they still have a major environmentalload reducing effect, regardless of the amount to be procured, because
they come from our own R&D, based on the contents of "designatedprocurement items" in the Act on Promotion of Procurement of EcoFriendly Goods and Services by the State and Other Entities (Green
Purchasing Act).
The principal "designated procurement items" among our construction
materials are soil from construction, asphalt concrete, cement, concrete,and steel.
Our target for the indicator green procurement rate is 55% by FY2022.3,
and we reached 47.5% in FY2021.3. This target is reflected in EMS(Environmental Management System).
[Revenue]
The Obayashi Corporation's primary businesses are the construction,
development, and green energy businesses.
We need to reduce greenhouse gas emissions considerably bystrengthening regulations and through other measures as well as
implement similar measures on the construction market in accordance47

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

with the Japanese national policy for the Paris Agreement in 2015("Japan's draft agreement") and the 2050 Carbon Neutrality Declaration of
the Japanese government in September 2020. More concretely, we needto reduce CO2 emissions during management, which indicates building
performance, and during construction, which requires us in ourconstruction and development businesses to possess construction
technologies and know-how for realizing design that accommodate
environmental specifications in demand as well as construction that yields
as little emissions as people wish to see.
Moreover, our green energy business, which centers around therenewable energy business, is subject to an important growth strategy
for securing diverse revenue sources as we aim to stably supply CO2free power. We are already operating 44 power plants in 30 locations as
we are advancing commercialization centering on solar and biomass
power generation, with a capacity of producing about 154 MW. We arealso engaging in large-scale offshore wind power generation, which iscurrently difficult to commercialize.
In the construction and development businesses, there is a higher risk offewer orders and reduced revenue and profit if we do not possess
technologies and know-how for designing and constructing buildings thatmeet client needs.
We also expect opportunities in the form of more orders and increased
revenue and profit if we secure advantages with aforementioned
technologies and know-how.
Whether we are able to research and develop technologies as well as
acquire know-how that accord with climate change-related social andmarket needs and opportunities will have a major impact on ourbusinesses.
The Medium-Term Business Plan 2017 includes targets for revenue andbusiness profit as business indicators targets. The plan covers the period
from FY2018.3 to FY2022.3.
The ESG initiatives are our foundational business strategy for achieving
those targets, so we are promoting initiatives to solve global
environmental problems by defining the action plan "promoting
decarbonization" and the indicator KPIs "direct contribution of CO2
emissions reduction rate" and "indirect contribution of CO2 emissions
reduction rate" for the ESG Materiality "Establishing an environmentally
responsible society."
As defined below, "direct contributions" refers to reducing emissions atconstruction sites while "indirect contributions" refers to reducing
emissions from the management of the buildings we design, so we
promote the possession and the improvement of technologies andknow-how through our business foundation strategy.
As previously mentioned, the possession of technologies and know-how
48

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

impacts revenue and profit, so we aim to improve them for the sake ofachieving our business indicator targets.
Moreover, we are steadily increasing power generation to reach ourtargets by continuously investing in our renewable energy business.
Direct and indirect contributions
are defined as follows.
Direct contributions = A + B - C
A: Fuel consumption and power purchased at construction sites and in
offices (scope 1 + scope 2)
B: Transportation of construction materials and waste, commuting of
employees and workers (categories 4, 7, 9 in scope 3)
C: Emissions corresponding to power
generated in renewable energy businesses
Indirect contributions = a + b - c
a: Annual emissions from operating buildings designed and constructedby the Obayashi Corporation for 35 years after completionb: Production of construction materials (category 1 in scope 3)
c: Reduction effect by adoption of energy-saving and low-carbon
materials
The indicators, targets, and FY2021.3 results for CO2 emission
reduction and financial planning are as follows.
Construction Work
Indicator: direct contributions
Target: 85% reduction by FY2031.3 (FY2014.3 baseline)
FY2021.3 results:
67% reduction
DesignIndicator: indirect contributions
Target: 25% reduction by FY2031.3 (FY2014.3 baseline)
FY2021.3 results:
21% reduction
Renewable energy
business

Indicator: annual
power generation
Target: at least 370,000 MWh → CO2 emission conversion 174,000 tCO2 by FY2022.3
FY2021.3 results: 267,202 MWh → CO2 emission conversion 125,000 t-CO2

Sales
Indicator: Medium-Term Business Plan 2017
Target: about 2 trillion yen by FY2022.3
49

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

FY2021.3 results:
1,766.8 billion yen
Operating profit
Indicator: Medium-Term Business Plan 2017
Target: about 100 billion yen by FY2022.3
FY2021.3 results: 98.7 billion yen
The investments and initiatives in our construction anddevelopment businesses are as follows.
Construction business

Investments: Construction technology R&D(total of 100 billion yen in the FY2018.3-FY2022.3 plan, 90.7 billion yen
in FY2018.3-FY2021.3 results)
Initiatives:
・Providing buildings with high environmental performance (ZEB, etc.)
・Promoting energy-saving construction
・Introducing low-carbon materials (applying clean-crete, green procurement,
etc.)
・Introducing energy-saving construction machinery
・Realizing autonomous andautomatic construction, etc.

Development business
Investments: Sustainable investments(target of at least 90% of real estate rental business investments,
about 94% achieved in FY2021.3)
Initiatives:
・Providing green buildings
・Energy-saving investments, etc.

Green energy business
Investments: Investments into the renewable power generation business, etc.
(total of 100 billion yen in the FY2018.3-FY2022.3 plan, 50.5 billion yen in
FY2018.3-FY2021.3 results)

Initiatives:
・Solar power generation business・Biomass power generation business・Onshore wind power generation business・Geothermal and micro hydroelectric power generation business, etc.

Moreover, despite some effects of the COVID-19 pandemic on theconstruction and development businesses in FY2021.3, most of the50

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

targets from the Medium-Term Business Plan were achieved, and we areclearly making progress in addressing climate change and securing
revenue and profit.

C3.4a(C3.4a) Provide any additional information on how climate-related risks andopportunities have influenced your strategy and financial planning (optional).
As stated in the Obayashi Corporation's TCFD disclosure item Governance, we establish a
CSR Committee consisting of division heads and other executive officers, chaired by the
Representative Director and President, for the purpose of promoting CSR activities throughout
the corporation from an ESG perspective and implement corporate activities based on the
Obayashi Basic Principles. The CSR Committee convenes once a year to formulate our basic
policy on CSR, including activities to address climate-related challenges, propose measuresand concrete activity plans, and review activity performance. The ESG & SDGs Department of
the Corporate Strategy Division serves as the secretariat of the CSR Committee, drafting
measures to promote ESG management and achieving the SDGs, keeping track of progress inpromotion and implementation, and communicating information and relaying it inside thecorporation, thereby promoting initiatives in the corporation as a whole. We are promoting
activities in accordance with this schematic of our climate change-related governance structure
and these organizational overviews of each organization.
The Obayashi Corporation formulates its business strategies and targets according to the shortterm (every year), the medium term (-2021), and the long term (-2050). The subordinate
Environmental Management Expert Committee and the environmental manager liaison councils
of all branches (convene 1-2 times a year) discuss our activities and targets, check ourprogress, and incorporate CSR Committee's decisions into our business strategies. Throughthis decision-making, our business activities are made to reflect the (1) long-term and (2) shortand medium-term concrete actions, target, and activities (1)-4)) relating to climate-related
issues. The details are as follows.
(1) For the long term, we have further developed the Obayashi Green Vision 2050, which wasan environmental vision formulated in 2011, by revising it into the Obayashi Sustainability
Vision 2050, which recognizes various social trends and changes in the business environment
around the Obayashi Group, includes ESG as our business foundation and contributing tosolving social issues with a focus on the SDGs, and aims to have the Obayashi Group as awhole pursue both "the planet, society, and people" and our own sustainability. We areadvancing our business strategies in accordance with this mission. This vision encompasses
our initiatives to realize a "low-carbon, recycling-oriented, and nature-friendly" society centeringon our construction business until this point as well as promotes the deepening and expansionof our businesses to achieve decarbonized society, provide spaces and services of value forthe happiness of all people and the co-creation of sustainable supply chains with everyone
involved in our businesses.
The CO2 emissions from construction are a factor with a major impact on climate-related
issues in the Obayashi Corporation's business activities. Moreover, we also consider CO2
emissions from the operation of buildings after handover to the owners an indirect impact factor.
In our action plans for the ESG Materiality "Establishing an environmentally responsible
society," we divide the numerical targets for realizing a decarbonized society into directcontributions that come from decarbonizing our own facilities or implementing low-carbon
construction and indirect contributions that come from developing and disseminating low51

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
carbon technologies and materials or proposing and designing energy-saving construction. We
set KPIs (numerical targets) for each and conduct our activities in order to achieve thosetargets.
With regard to "Risk types" under C2 "Risks and opportunities," we define action plans andconduct activities for the effects of new regulations and technologies on low-carbon
construction as direct contributions, for the effects of technologies and the upstream on thedevelopment and dissemination of technologies and materials, and for the effects of current
regulations and the downstream on proposing and designing energy-saving designs.
Furthermore, we reflect measures based on the scenario analysis results from the TCFD underC3.2a in the business measures of each business division.
The targets for our direct contribution action plans are a reduction of 85% compared to
FY2014.3 by 2030 and 2050, and for our indirect contribution action plans a reduction of 25%compared to FY2014.3 by 2030 and of 45% by 2050.
The following are the action plans that have been implemented in individual business areas
since FY2021.3 for the sake of achieving those targets.
1) Promote environmentally friendly businesses
・Promote ZEB (buildings with net-zero energy consumption during operations thanks to"energy conservation" and "energy generation" from renewable energy): indirect contributions
by providing buildings that produce less emissions during operations
・Promote environmentally friendly development business: indirect contributions by providing
buildings that produce less emissions during operations
・Promote smart cities: indirect contributions by providing energy systems that minimize
emissions from operations at a city block level and city blocks that produce less emissions
during operations
2) Promote renewable energy business・Promote renewable energy business: contributions by generating zero CO2 emission
power from solar, wind, and wood biomass power generation
・Initiatives in hydrogen energy service business: contributions by generating renewable energy
3) Promote decarbonization
・Promote energy conservation during construction: direct contributions by keeping down
emissions from constructions, for example by using fuel-efficient heavy machinery andmaking all lighting LED
・Promote use of environment-friendly concrete: indirect contributions by applying materials
from low-carbon production4) Contribute to realizing a recycling-oriented society
・Restore and extend lifespan of infrastructure: direct contributions by reducing emissions
through dismantling and reconstruction for repairs to extend lifespan(2) For the short and medium terms, we have defined climate change-related targets andstrategies for individual years and until 2021, breaking down the aforementioned vision, including
the environment aspects. These targets and strategies are included in the Environmental
Management System (EMS), which the whole corporation uses, and are promoted and managed
by the Environmental Management Expert Committee, which is headed by the executive officer
responsible for the environment.
The following are the concrete targets for CO2 emissions.
1) Reduction rate for CO2 emissions during construction (FY2014.3 baseline)
Short-term (FY2021.3) target: 15.0%
Medium-term target (until FY2022.3): 8.0% annually
2) Reduction rate for CO2 emissions during construction (CASBEE standard baseline)52

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
Short-term (FY2021.3) target: 25%

Medium-term target (until FY2022.3): 25%

C4 Targets and performance
C4.1(C4.1) Did you have an emissions target that was active in the reporting year?
Absolute target
Intensity target

C4.1a(C4.1a) Provide details of your absolute emissions target(s) and progress made against
those targets.

Target reference number
Abs 1Year target was set
2021
Target coverage
Company-wide
Scope(s) (or Scope 3 category)
Scope 1+2 (market-based)
Base year
2014
Covered emissions in base year (metric tons CO2e)229,000
Covered emissions in base year as % of total base year emissions in selected
Scope(s) (or Scope 3 category)
97.8
Target year
2021
Targeted reduction from base year (%)
15
Covered emissions in target year (metric tons CO2e) [auto-calculated]
194,650
Covered emissions in reporting year (metric tons CO2e)
163,898
53

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

% of target achieved[auto-calculated]
189.5254730713
Target status in reporting year
Achieved
Is this a science-based target?
Yes, we consider this a science-based target, but it has not been approved by the
Science-Based Targets initiative
Target ambition
2°C aligned
Please explain (including target coverage)
The targets are set on a business year basis.
Short-term target: "15% reduction compared to FY2014.3 in FY2021.3 (April 1, 2020March 31, 2021)" formulated by the Environmental Management Expert Committee

Target reference number
Abs 2Year target was set
2017Target coverage
Company-wide
Scope(s) (or Scope 3 category)
Scope 1+2 (market-based)
Base year
2014
Covered emissions in base year (metric tons CO2e)229,000
Covered emissions in base year as % of total base year emissions in selected
Scope(s) (or Scope 3 category)
97.8
Target year
2022
Targeted reduction from base year (%)
8
54

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Covered emissions in target year (metric tons CO2e) [auto-calculated]
210,680
Covered emissions in reporting year (metric tons CO2e)
163,898% of target achieved[auto-calculated]
355.3602620087
Target status in reporting year

Is this a science-based target?
Yes, we consider this a science-based target, but it has not been approved by the
Science-Based Targets initiative
Target ambition
2°C aligned
Please explain (including target coverage)
The targets are set on a business year basis.
Medium-term target: "8% reduction compared to FY2014.3 in FY2022.3 (April 1, 2021March 31, 2022)" formulated by the Environmental Management Committee, which was
the predecessor of the Environmental Management Expert Committee, to match theMedium-Term Business Plan.

Target reference number
Abs 3Year target was set
2019
Target coverage
Company-wide
Scope(s) (or Scope 3 category)
Scope 1+2 (market-based)
Base year
2014
Covered emissions in base year (metric tons CO2e)402,000
Covered emissions in base year as % of total base year emissions in selected
Scope(s) (or Scope 3 category)
97.8
Target year55

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

2051
Targeted reduction from base year (%)
85
Covered emissions in target year (metric tons CO2e) [auto-calculated]
60,300Covered emissions in reporting year (metric tons CO2e)
294,000% of target achieved[auto-calculated]
31.6066725198
Target status in reporting year
Underway
Is this a science-based target?
Yes, we consider this a science-based target, but it has not been approved by the
Science-Based Targets initiative
Target ambition
Well-below 2°C aligned
Please explain (including target coverage)
The targets are set on a business year basis.
Long-term target: "85% reduction compared to FY2014.3 in FY2051.3 (April 1, 2050March 31, 2051)" formulated in the long-term Obayashi Sustainability Vision 2050.

C4.1b
(C4.1b) Provide details of your emissions intensity target(s) and progress made against
those target(s).

Target reference number
Int 1Year target was set
2021
Target coverage
Company-wide
Scope(s) (or Scope 3 category)
Scope 1+2 (market-based)
Intensity metric
Other, please specify
t-CO2/construction sales (100 million yen)56

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Base year
2014
Intensity figure in base year (metric tons CO2e per unit of activity)
21% of total base year emissions in selected Scope(s) (or Scope 3 category)covered by this intensity figure
97.8
Target year
2021
Targeted reduction from base year (%)
15
Intensity figure in target year (metric tons CO2e per unit of activity)[auto-calculated]
17.85% change anticipated in absolute Scope 1+2 emissions-6.07% change anticipated in absolute Scope 3 emissions
Intensity figure in reporting year (metric tons CO2e per unit of activity)
14% of target achieved[auto-calculated]
222.2222222222
Target status in reporting year
Achieved

Is this a science-based target?
Yes, we consider this a science-based target, but it has not been approved by the
Science Based Targets initiative
Target ambition
2°C aligned
Please explain (including target coverage)
The targets are set on a business year basis.
Short-term target: "15% reduction compared to FY2014.3 in FY2021.3 (April 1, 2020March 31, 2021)" formulated by the Environmental Management Expert Committee

57

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Target reference number
Int 2Year target was set
2017Target coverage
Company-wide
Scope(s) (or Scope 3 category)
Scope 1+2 (market-based)
Intensity metric
Other, please specify
t-CO2/construction sales (100 million yen)

Base year
2014
Intensity figure in base year (metric tons CO2e per unit of activity)
21% of total base year emissions in selected Scope(s) (or Scope 3 category)covered by this intensity figure
97.8
Target year
2022
Targeted reduction from base year (%)
8
Intensity figure in target year (metric tons CO2e per unit of activity)[auto-calculated]
19.32% change anticipated in absolute Scope 1+2 emissions-29.4% change anticipated in absolute Scope 3 emissions

Intensity figure in reporting year (metric tons CO2e per unit of activity)
14% of target achieved[auto-calculated]
416.6666666667
58

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Target status in reporting year
Achieved
Is this a science-based target?
Yes, we consider this a science-based target, but it has not been approved by the
Science Based Targets initiative
Target ambition
2°C aligned
Please explain (including target coverage)
The targets are set on a business year basis.
Medium-term target: "8% reduction compared to FY2014.3 in FY2022.3 (April 1, 2021March 31, 2022)" formulated by the Environmental Management Committee, which was
the predecessor of the Environmental Management Expert Committee, to match theMedium-Term Business Plan.

Target reference number
Int 3Year target was set
2019
Target coverage
Company-wide
Scope(s) (or Scope 3 category)
Scope 1+2 (market-based)
Intensity metric
Other, please specify
t-CO2/construction sales (100 million yen)

Base year
2014
Intensity figure in base year (metric tons CO2e per unit of activity)36% of total base year emissions in selected Scope(s) (or Scope 3 category)covered by this intensity figure
97.8
Target year
2051
Targeted reduction from base year (%)
59

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

85
Intensity figure in target year (metric tons CO2e per unit of activity)
calculated]
5.4[auto-% change anticipated in absolute Scope 1+2 emissions-29.4% change anticipated in absolute Scope 3 emissions
Intensity figure in reporting year (metric tons CO2e per unit of activity)
24.6% of target achieved[auto-calculated]
37.2549019608
Target status in reporting year
Underway
Is this a science-based target?
Yes, we consider this a science-based target, but it has not been approved by the
Science Based Targets initiative
Target ambition
2°C aligned
Please explain (including target coverage)
The targets are set on a business year basis.
Long-term target: "85% reduction compared to FY2014.3 in FY2051.3 (April 1, 2050March 31, 2051)" formulated in the long-term Obayashi Sustainability Vision 2050.

C4.2(C4.2) Did you have any other climate-related targets that were active in the reportingyear?
Net-zero target(s)C4.2c(C4.2c) Provide details of your net-zero target(s).

Target reference number
NZ1
Target coverage
Company-wide
60

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Absolute/intensity emission target(s) linked to this net-zero target
Not applicableTarget year for achieving net zero
2050
Is this a science-based target?
No, but we anticipate setting one in the next 2 years
Please explain (including target coverage)
The long-term Obayashi Sustainability Vision 2050 from 2019 carries on the targets ofthe earlier Obayashi Green Vision 2050 (formulated in 2011), but we are considering
redefining the targets by carefully comparing how they were defined with SBT
standards.

C4.3(C4.3) Did you have emissions reduction initiatives that were active within the reporting
year? Note that this can include those in the planning and/or implementation phases.
Yes

C4.3a
(C4.3a) Identify the total number of initiatives at each stage of development, and for
those in the implementation stages, the estimated CO2e savings.
Stage of development

Number of initiatives

Total estimated annual CO2e savings
in metric tons CO2e (only for rows
marked *)Under investigation0

0

To be implemented*

00

Implementation commenced*

00

Implemented*

3

10,337

Not to be implemented

0

0

C4.3b
61

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C4.3b) Provide details on the initiatives implemented in the reporting year in the tablebelow.

Initiative category and Initiative type
Energy efficiency in production processes
Machine/equipment replacement
Estimated annual CO2e savings (metric tons CO2e)2,290
Scope(s)Scope 2 (market-based)
Voluntary/ Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
81,957,000
Investment required (unit currency – as specified in C0.4)
60,000,000
Payback period
4-10 years
Estimated lifetime of the initiative
21-30 years
Comment
LED

Light emitting diode

Initiative category and Initiative type
Energy efficiency in production processes
Process optimization
Estimated annual CO2e savings (metric tons CO2e)7,469
Scope(s)Scope 1
Voluntary/ Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
62

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

315,555,000
Investment required (unit currency – as specified in C0.4)
0Payback period
No payback
Estimated lifetime of the initiative
16-20 years
Comment
Fuel-efficient operations

Initiative category and Initiative type
Other, please specify
Other, please specify
Purchasing low-carbon energy

Estimated annual CO2e savings (metric tons CO2e)578

Scope(s)Scope 2 (market-based)
Voluntary/ Mandatory
Voluntary
Annual monetary savings (unit currency – as specified in C0.4)
5,562,216
Investment required (unit currency – as specified in C0.4)
0Payback period<1 year
Estimated lifetime of the initiative
6-10 years
Comment
New energy purchasing performance

C4.3c(C4.3c) What methods do you use to drive investment in emissions reduction activities?
MethodComment

63

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Dedicatedbudget for

Budget for developing technologies to strengthen buildings' energy
conservation standards.

energyefficiency
Internal

We have an "environmental award" system for initiatives on environmental
incentives/r effects (reducing greenhouse gas emissions, reducing energy usage,
ecognition increasing efficiency) that constitute activities of remarkable merit or that areprograms otherwise exemplary. Moreover, the personnel evaluation of employees
include items on environment-related initiatives, which are reflected insalaries.
Dedicatedbudget forotheremissions

Budget for promoting the renewable energy business of the Obayashi
Corporation and Group companies. Includes business review budget andtechnological development budget for solar and biomass power generation,hydrogen use, and so forth.

reduction
activities

C4.5(C4.5) Do you classify any of your existing goods and/or services as low-carbon
products or do they enable a third party to avoid GHG emissions?
Yes

C4.5a
(C4.5a) Provide details of your products and/or services that you classify as low-carbon
products or that enable a third party to avoid GHG emissions.

Level of aggregation
Company-wide
Description of product/ Group of products
Low-carbon products: We are developing low-carbon products mainly for construction
materials, such as Clean-Crete (low-carbon) that reduces CO2 considerably compared toconventional products, by using blast furnace by-products as cement submaterials.
Additionally, we possess technologies and know-how that can reduce CO2 emissions
during construction, for example by establishing technologies for evaluating andminimizing the degradation of existing frames when they are reconstructed for reuse.

Are these low-carbon product(s) or do they enable avoided emissions?
Low-carbon product and avoided emissions
Taxonomy, project, or methodology used to classify product(s) as low-carbon
or to calculate avoided emissions
Other, please specify
64

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日JIS

% revenue from low-carbon product(s) in the reporting year
1.7

Comment

Level of aggregation
Company-wide
Description of product/ Group of products
Third-party greenhouse gas emission reductions... "Other" calculation methods: We areconstructing buildings that can reduce CO2 emissions during operations after being
handed over to the client by using specifications that conform with CASBEE standards
when constructing buildings using our own designs.

Are these low-carbon product(s) or do they enable avoided emissions?
Low-carbon product and avoided emissions
Taxonomy, project, or methodology used to classify product(s) as low-carbon
or to calculate avoided emissions
Other, please specify
CASBEE% revenue from low-carbon product(s) in the reporting year
41.17
Comment

C5 Emissions methodology
C5.1(C5.1) Provide your base year and base year emissions (Scopes 1 and 2).
Scope 1
Base year start
1 April, 2013
Base year end
31 March, 2014
Base year emissions (metric tons CO2e)145,315
Comment
65

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
・Since FY1999.3, we have tracked use of electricity, diesel, kerosene, and gas at our
offices and construction sites based on the calculation criteria in the Guidelines forEnvironmental Accounting in Construction (JFCC) with regard to Scope 1 and 2
emissions.

・The tallying procedures are as follows. 1) For construction sites, tallyand calculate emissions for energy use based on EMS and CO2 emission tallying
systems. 2) For permanent departments, tally energy use and calculate emissions forstore facilities, equipment centers, etc., based on EMS and other surveys.

Scope 2 (location-based)
Base year start
1 April, 2013
Base year end
31 March, 2014
Base year emissions (metric tons CO2e)90,558Comment
・Since FY1999.3, we have tracked use of electricity, diesel, kerosene, and gas at our
offices and construction sites based on the calculation criteria in the Guidelines forEnvironmental Accounting in Construction (JFCC) with regard to Scope 1 and 2
emissions.

・The tallying procedures are as follows. 1) For construction sites, tallyand calculate emissions for energy use based on EMS and CO2 emission tallying
systems. 2) For permanent departments, tally energy use and calculate emissions forstore facilities, equipment centers, etc., based on EMS and other surveys.

Scope 2 (market-based)
Base year start
1 April, 2013
Base year end
31 March, 2014
Base year emissions (metric tons CO2e)
91,066

Comment
・Since FY1999.3, we have tracked use of electricity, diesel, kerosene, and gas at our
offices and construction sites based on the calculation criteria in the Guidelines forEnvironmental Accounting in Construction (JFCC) with regard to Scope 1 and 2
emissions.
・The tallying procedures are as follows.
1) For construction sites, tally and calculate emissions for energy use based on EMS
66

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
and CO2 emission tallying systems.
2) For permanent departments, tally energy use and calculate emissions for store
facilities, equipment centers, etc., based on EMS and other surveys.

C5.2(C5.2) Select the name of the standard, protocol, or methodology you have used tocollect activity data and calculate emissions.
Other, please specify
Guidelines for Environmental Accounting in Construction (Japan Federation of Construction
Contractors)

C5.2a(C5.2a) Provide details of the standard, protocol, or methodology you have used tocollect activity data and calculate emissions.
・Since FY1999.3, we have tracked use of electricity, diesel, kerosene, and gas at our offices
and construction sites based on the calculation criteria in the Guidelines for Environmental
Accounting in Construction (JFCC) with regard to Scope 1 and 2 emissions.
・The tallying procedures are as follows.
1) For construction sites, tally and calculate emissions for energy use based on EMS and
CO2 emission tallying systems.
2) For permanent departments, tally energy use and calculate emissions for store facilities,
equipment centers, etc., based on EMS and other surveys.

C6 Emissions data
C6.1
(C6.1) What were your organization’s gross global Scope 1 emissions in metric tons
CO2e?
Reporting year
Gross global Scope 1 emissions (metric tons CO2e)
113,835
Comment

C6.2(C6.2) Describe your organization's approach to reporting Scope 2 emissions.
row 1
Scope 2, location-based
We are reporting a Scope 2, location-based figure
67

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Scope 2, market-based
We are reporting a Scope 2, market-based figure
Comment

C6.3(C6.3) What were your organization's gross global Scope 2 emissions in metric tons
CO2e?
Reporting year
Scope 2, location-based
60,675
Scope 2, market-based (if applicable)
56,625
Comment

C6.4(C6.4) Are there any sources (e.g. facilities, specific GHGs, activities, geographies, etc.)
of Scope 1 and Scope 2 emissions that are within your selected reporting boundary
which are not included in your disclosure?
No

C6.5(C6.5) Account for your organization’s gross global Scope 3 emissions, disclosing andexplaining any exclusions.
Purchased goods and services
Evaluation status
Relevant, calculated
Metric tons CO2e
1,940,700

Emissions calculation methodology
Materials x CO2 emission intensity during material production

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
The corporation constantly monitors records of purchases and procurement frommaterial makers during construction, doing so via our internal systems. We use this to68

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
calculate how much principal construction materials (steel beams, rebar, cement, readymixed concrete) were used in FY2021.3. CO2 emission intensity during material
production takes into account lifecycle assessments and uses the LCI database IDEA
v2.

Capital goods
Evaluation status
Relevant, calculated
Metric tons CO2e
3,922
Emissions calculation methodology
Principal acquired capital good (sum of money) x CO2 emission intensity per capital
good This follows the calculation method 3) in the Basic Guidelines on Calculating
Greenhouse Gas Emissions through Supply Chains of the Ministry of the Environment
and the Ministry of Economy, Trade and Industry. (Category 2, emission intensity per
fixed asset price (construction))

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
This is independently computed by the Obayashi Corporation.

Fuel-and-energy-related activities (not included in Scope 1 or 2)
Evaluation status
Relevant, calculated
Metric tons CO2e25,503Emissions calculation methodology
The corporation's total energy used x "average emission intensity of all power sources
based on content analysis of energy greenhouse gas composition" emission intensity
conforms with the Basic Guidelines on Calculating Greenhouse Gas Emissions
through Supply Chains of the Ministry of the Environment and the Ministry of Economy,
Trade and Industry.

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
The Obayashi Corporation by itself. Calculated based on our total energy use from our
ISO14001: Environmental Management System (EMS) as well as "average emission
intensity of all power sources based on content analysis of energy greenhouse gas
69

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
composition."

Upstream transportation and distribution
Evaluation status
Relevant, calculated
Metric tons CO2e
10,968Emissions calculation methodology
Principal materials x average transportation distance x CO2 emission intensity
This is calculated using the "ton-kilometer method" in conformance with the Basic
Guidelines on Calculating Greenhouse Gas Emissions through Supply Chains of the
Ministry of the Environment and the Ministry of Economy, Trade and Industry.

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
Independently computed by the Obayashi Corporation. The corporation constantly
monitors records of purchases and procurement from material makers during
construction, doing so via our internal management systems. We calculated theweights for each principal material based on our construction and procurement records
from FY2020.3. Referencing the survey results of the former Environmental LoadExpert Committee of the BCS (present-day Japan Federation of Construction
Contractors), we estimate the average transportation distance for each material and use
emission intensity from the fuel use intensity of the ton-kilometer method.

Waste generated inoperations
Evaluation status
Relevant, calculated
Metric tons CO2e109,465
Emissions calculation methodology[Waste emissions from new construction x CO2 emission intensity from processing
and disposal] + [waste emissions from new construction x average transportation
distance x CO2 emission intensity from fuel use]

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
Independently computed by the Obayashi Corporation.
70

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
According to the Basic Guidelines on Calculating Greenhouse Gas Emissions throughSupply Chains of the Ministry of the Environment and the Ministry of Economy, Tradeand Industry, "CO2 emissions from construction waste transportation can optionally be
included in Category 5 (waste from business)." We count it as emissions from wastetransportation under a separate item for emission sources called [Downstream
transportation and distribution].

Business travel
Evaluation status
Relevant, calculated
Metric tons CO2e
1,717
Emissions calculation methodology
This is calculated based on the "emission intensity per employee" in the Basic
Guidelines on Calculating Greenhouse Gas Emissions through Supply Chains of the
Ministry of the Environment and the Ministry of Economy, Trade and Industry.
[Number of employees x CO2 emission intensity per employee]

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
Independently computed by the Obayashi Corporation.

Employee commuting
Evaluation status
Relevant, calculated
Metric tons CO2e
17,784Emissions calculation methodology
Based on the Basic Guidelines on Calculating Greenhouse Gas Emissions throughSupply Chains of the Ministry of the Environment and the Ministry of Economy, Tradeand Industry, we calculate construction worker commutes [travel distance / fuel x CO2
emission intensity from diesel] and employee commutes as [travel allowance according
to traffic zone x emission intensity per travel allowance according to traffic zone].

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
Independently computed by the Obayashi Corporation.
Based on the Basic Guidelines on Calculating Greenhouse Gas Emissions through71

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
Supply Chains of the Ministry of the Environment and the Ministry of Economy, Tradeand Industry,
1. wecalculate CO2 emissions from construction worker commutes bymultiplying the CO2 emission coefficient by the amount of diesel used fromaverage commute distance, number of persons traveling together, and fuel,converted using the total number of workers from labor safety managementdata.
2. CO2 emissions from employee commutes is calculated multiplying allowancefor commuting by train, bus, ferry, taxi, or private car by emission intensity per
travel allowance according to traffic zone.
Upstream leased assets
Evaluation status
Relevant, calculated
Metric tons CO2e50
Emissions calculation methodology
Company-owned car and car lease x average transportation distance x CO2 emission
intensity
This is calculated using the "ton-kilometer method" in conformance with the Basic
Guidelines on Calculating Greenhouse Gas Emissions through Supply Chains of the
Ministry of the Environment and the Ministry of Economy, Trade and Industry.

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100
Please explain
We include CO2 emissions from the transportation of construction machinery andprovisional materials at construction sites that correspond to lease assets (upstream) in
Scope 1 of the annual environmental report.
At present, we are including this by calculating it from gasoline use surveyed and talliedfrom supply chains through our Tokyo head office and branches (15 locations) inISO14001 and EMS (Environmental Management System).

Downstream transportation and distribution
Evaluation status
Relevant, calculated
Metric tons CO2e44,314Emissions calculation methodology
Waste emissions from new construction and dismantling x average transportation72

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
distance x CO2 emission intensity

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100

Please explain
See entry for mission source [Waste generated in operations].

Processing of sold products
Evaluation status
Not relevant, explanation provided
Please explain
As a construction company, we consider buildings to be finished products. As such, we
do not sell intermediate products, so this is not relevant.

Use of sold products
Evaluation status
Relevant, calculated
Metric tons CO2e398,186

Emissions calculation methodology
Construction area by building usage x CO2 emission intensity

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100

Please explain
Independently computed by the Obayashi Corporation. We tallied and calculated theconstruction area of our construction jobs in FY2021.3 by building usage (including
department store, supermarket, store, restaurant, hotel, hospital, school, apartments),
using our construction information system. Energy consumption intensity from area bybuilding usage conforms with the Structure Energy Consumption Survey Report (2019)of the Building Energy Manager's Association of Japan. For the CO2 emission intensity
for each type of energy use, we use the CO2 conversion coefficient defined for
FY2021.3 reports of the calculation, report, and publication system.

End of life treatment of sold products
Evaluation status
Relevant, calculated
Metric tons CO2e42,51673

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Emissions calculation methodology
Waste emissions from dismantling x CO2 emission intensity from processing and disposal

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100

Please explain
CO2 emissions accompanying construction and building dismantling are calculated
according to the case, including structure and usage.Moreover, for buildings designed
by us, we include CO2 emissions during dismantling when calculating LCCO2 with
CASBEE (Comprehensive Assessment System for Built Environment Efficiency).
However, the buildings we construct will not necessarily be dismantled by ourselves in
the future. Moreover, as buildings' years of durability and destruction period differ
greatly between decades because of methods of operations, maintenance, andmanagement, so it is impossible to predict how and when our structures will bedismantled. Thus, we are unable to predict annual CO2 emissions for this. Because ofthis, with regard to "waste from sold products," we have sampled construction waste
associated with dismantling jobs received in FY2021.3 (incl. dismantling of structuresthat existed at the time of new construction) and calculated the CO2 emissions fromthat processing and disposal, in place of the dismantling, processing, and disposal of
our own construction jobs. Moreover, we count CO2 emissions from transportation of
construction waste in connection with dismantling as emissions from wastetransportation under a separate item for emission sources called [Downstream
transportation and distribution].

Downstream leased assets
Evaluation status
Relevant, calculated
Metric tons CO2e
57

Emissions calculation methodology
Calculated as monetary value of lease assets (financial statements, etc. on the Obayashi
Corporation website) x intensity by usage.

Percentage of emissions calculated using data obtained from suppliers orvalue chain partners
100

Please explain
Independently computed by the Obayashi Corporation.
As our development and real estate businesses involve various forms of planning, we
calculate it as monetary value of lease assets (financial statements, etc. on the
Obayashi Corporation website) x intensity by usage (Ministry of the Environment
database [6])74

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Franchises
Evaluation status
Not relevant, explanation provided
Please explain
As one of Japan's biggest comprehensive construction companies, we primarily engage
in large-scale construction jobs, which differ from businesses by franchises such as
house builders. So, since we do not conduct business that corresponds to franchises,
this question is not relevant.

Investments
Evaluation status
Not relevant, explanation provided
Please explain
According to the Basic Guidelines on Calculating Greenhouse Gas Emissions throughSupply Chains of the Ministry of the Environment and the Ministry of Economy, Tradeand Industry, this category applies to investors (businesses that invest for profit) as wellas businesses that offer financial services, so it is mainly for private financial institutions(commercial banks, etc.). This does not apply to our businesses as we are aconstruction company.

Other (upstream)
Evaluation status
Not relevant, explanation provided
Please explain
We do not calculate CO2 emissions associated with lease assets (upstream) in the formof construction machinery and provisional materials used at construction sites as well as
the "manufacturing" of appliances and equipment used in offices. This is because theinformation is difficult to obtain as we deal with many different leasers.

Other (downstream)
Evaluation status
Not relevant, explanation provided
Please explain
We do not calculate CO2 emissions associated with lease assets (downstream) in theform of construction machinery and provisional materials used at construction sites aswell as the "dismantling and disposal" of appliances and equipment used in offices. Thisis because the information is difficult to obtain as we deal with many different leasers.

C-CN6.6/C-RE6.6
75

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C-CN6.6/C-RE6.6) Does your organization assess the life cycle emissions of new
construction or major renovation projects?
Assessment oflife cycle
emissionsrow
1Comment

Yes,

When receiving orders for new constructions or large-scale repair projects
in our construction business, we largely categorize orders as either
including both design and construction or including only construction. We
assessment
are able to consider and make implementations for life-cycle greenhousegas emissions more independently with design and construction jobs.
Of the design and construction projects undertaken by the Obayashi
Corporation, nearly all new constructions have their environmental
specifications assessed using CASBEE. CASBEE assesses environmental
efficiency and life cycle CO2 by calculating "life cycle" CO2 emissions as asum of annual emissions per floor area at different stages: during"construction," "during repairs, improvements, and dismantling," andduring "operations." This can be said to allow us to make quantitative
assessments of individual properties for specific years based on those
figures.
quantitative

C-CN6.6a/C-RE6.6a(C-CN6.6a/C-RE6.6a) Provide details of how your organization assesses the life cycle
emissions of new construction or major renovation projects.
Projects assessedr New construction ando major renovation projectsw
1 meeting certain criteria

Earliest
projectphase thatmostcommonly
includes anassessment

Life cycle
stage(s)mostcommonly
covered

Methodologies/
standards/tools
appliedComment

Designphase

Cradle-togateOther,CASBEE (Comprehensive
Assessment System for Built
Environment Efficiency) is acomprehensive assessment
system of not only environmentfriendly performance in the formof energy conservation and theuse of materials and equipmentwith low environmental load but
also the quality of the building,including how comfortable therooms are and the scenery.

pleasespecify(please specify)
CASBEE

Construction projects inJapan that requireapplications forverification of design andconstruction. 2) New
construction projects(also collecting additions
if involving a separate orother building that can beassessed using the
CASBEE (newconstruction) tool). 3)
Buildings with at least
300 m2 of floor space(requiring submission of"Energy conservation
plan" to the authorities).
4) Excluding detachedhouses/apartment

Using
assessments fromCASBEE(Comprehensive
Assessment
System for
Built
Environment Efficiency)

CASBEEhasbeencontinuously developed andmaintained by the Institute for
Building Environment andEnergy Conservation since a
research committee for thecomprehensive
environmental assessment ofbuildings was set up as partof an industry-government76

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

complexes. 5) Excluding
station platforms andother buildings that lackliving spaces or areotherwise to be usedconsiderably differently
from regular buildings.

academiacollaborative
project with support from the
Housing Bureau of the
MinistryofLand,
Infrastructure, Transport andTourism in April 2001.
As buildings are used over
several decades, the Obayashi
Corporation assesses annual
emissions per floor space
during "operations" as a ratio
compared to the emissions of areference building, ascalculated by CASBEE. As
CASBEE is revised at regularintervals, we set targets every
year using those ratios with theaim of providing the market
with buildings that are always
more advanced than the
average buildings suggested
by CASBEE.

C-CN6.6b/C-RE6.6b(C-CN6.6b/C-RE6.6b) Can you provide embodied carbon emissions data for any of yourorganization’s new construction or major renovation projects completed in the last three
years?
Abilitytodiscloseembodiedcarbonemissionsro Yesw
1

Comment

The Obayashi Corporation assesses the buildings it designs and constructs
in a given year using CASBEE, tallies differences in CO2 emissions during
operations between the "reference buildings" that CASBEE indicates as
average every year and the "relevant buildings" based on the design
specifications, and publicizes our annual reductions.
Our track record is 10,000 t-CO2 in FY2019.3, 31,000 t-CO2 in FY2020.3,
and 34,000 t-CO2 in FY2021.3.

C-CN6.6c/C-RE6.6c(C-CN6.6c/C-RE6.6c) Provide details of the embodied carbon emissions of new
construction or major renovation projects completed in the last three years.

Year of completion77

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
2020

Property sector
Other, please specify
New design and construction
projects

Type of project
New construction
Project name/ID (optional)
New design and construction projects in FY2021.3

Life cycle stage(s) covered
Use stage
Normalization factor (denominator)
Other, please specify
Based on calculations according to the Building Standards Act

Denominator unit
square meter
Embodied carbon (kg/CO2e per the denominator unit)
33,399,000% of new construction/major renovation projects in the last three years coveredby this metric (by floor area)
37.23
Methodologies/standards/tools applied
Other, please specify
CASBEE
Comment
We calculate the total annual emissions of "reference buildings" and "relevant buildings"
from CASBEE's emissions during operations for new design and construction projects in
FY2021.3, and estimate our reductions based on the difference. We calculate thecoverage rate using the ratio to annually constructed floor space.
*Regarding year of completion, we would like to enter it as "2021" since it is the record for
FY2021.3, but we made it "2020" since the defined range is 1990-2020.

Year of completion
2019

Property sector
78

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Other, please specify
New design and construction
projects

Type of project
New construction
Project name/ID (optional)
New design and construction projects in FY2020.3

Life cycle stage(s) covered
Use stage
Normalization factor (denominator)
Other, please specify
Based on calculations according to the Building Standards Act

Denominator unit
square meter
Embodied carbon (kg/CO2e per the denominator unit)
30,385,000% of new construction/major renovation projects in the last three years coveredby this metric (by floor area)
43.99

Methodologies/standards/tools applied
Other, please specify
CASBEE

Comment
We calculate the total annual emissions of "reference buildings" and "relevant buildings"
from CASBEE's emissions during operations for new design and construction projects in
FY2021.3, and estimate our reductions based on the difference. We calculate thecoverage rate using the ratio to annually constructed floor space.
*Regarding year of completion, we would like to enter it as "2019" since it is the record
for FY2019.3, but we made it "2018" since the defined range is 1990-2020.

Year of completion
2018

Property sector
Other, please specify
New design andconstruction projects

Type of project
New construction
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Project name/ID (optional)
New design and construction projects in FY2019.3

Life cycle stage(s) covered
Use stage
Normalization factor (denominator)
Other, please specify
Based on calculations according to the Building Standards Act●

Denominator unit
square meter
Embodied carbon (kg/CO2e per the denominator unit)
10,156,000% of new construction/major renovation projects in the last three years coveredby this metric (by floor area)
18.78

Methodologies/standards/tools applied
Other, please specify
CASBEE

Comment
We calculate the total annual emissions of "reference buildings" and "relevant buildings"
from CASBEE's emissions during operations for new design and construction projects in
FY2021.3, and estimate our reductions based on the difference. We calculate thecoverage rate using the ratio to annually constructed floor space.
*Regarding year of completion, we would like to enter it as "2019" since it is the record
for FY2019.3, but we made it "2018" since the defined range is 1990-2020.

C6.7(C6.7) Are carbon dioxide emissions from biogenic carbon relevant to yourorganization?
●

No

C6.10
(C6.10) Describe your gross global combined Scope 1 and 2 emissions for the reporting
year in metric tons CO2e per unit currency total revenue and provide any additional
intensity metrics that are appropriate to your business operations.

Intensity figure
14.16
80

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Metric numerator (Gross global combined Scope 1 and 2 emissions, metric tons
CO2e)
170,459

Metric denominator
unit total revenue
Metric denominator: Unit total
1,203,895,000,000

Scope 2 figure used
Market-based% change from previous year
0.43

Direction of change
Increased
Reason for change
Total revenue (sales) output level
In FY2021.3, labor productivity increased for both civil engineering and construction
while working hours at construction sites decreased, so total CO2 emissions for justObayashi Corporation decreased by about 12.7% and sales by 13.09% compared tothe previous year. This means that our FY2021.3 sales output level increased by
0.43% compared to FY2020.3.

Intensity figure
14.42

Metric numerator (Gross global combined Scope 1 and 2 emissions, metric tons
CO2e)
170,459

Metric denominator
Other, please specify
Construction volume

Metric denominator: Unit total
1,182,066,000,000

Scope 2 figure used
Market-based% change from previous year
0.3

Direction of change
Decreased81

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Reason for change
Construction volume output level
The denominator is FY2021.3 construction volume.
We calculated CO2 emissions per construction with our volume of construction volume(JPY), our primary business, as the denominator. In construction, which is our primarybusiness, construction volume decreased by 12.46% compared to the previous year, but
in FY2021.3, labor productivity increased for both civil engineering and construction whileworking hours at construction sites decreased, so total CO2 emissions for just Obayashi
Corporation decreased by about 12.7%.
As a result, our FY2021.3 construction volume output level decreased by about 0.30%
compared to FY2020.3.

C7 Emissions breakdown
C7.1(C7.1) Does your organization break down its Scope 1 emissions by greenhouse gas
type?
Yes

C7.1a
(C7.1a) Break down your total gross global Scope 1 emissions by greenhouse gas type
and provide the source of each used global warming potential (GWP).
Greenhouse gas

Scope 1 emissions (metric tons in CO2e)

GWP Reference

CO2

113,835

IPCC Fifth Assessment Report (AR5 –100 year)C7.2(C7.2) Break down your total gross global Scope 1 emissions by country/region.
Country/Region

Scope 1 emissions (metric tons CO2e)Japan

113,835

C7.3(C7.3) Indicate which gross global Scope 1 emissions breakdowns you are able toprovide.
By business division
By activity

82

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

C7.3a
(C7.3a) Break down your total gross global Scope 1 emissions by business division.
Business division

Scope 1 emissions (metric tons CO2e)

Civil Engineering

57,561

Building Construction

55,942

Other

332

C7.3c
(C7.3c) Break down your total gross global Scope 1 emissions by business activity.
Activity

Scope 1 emissions (metric tons CO2e)

Office332

Construction

113,503

C7.5(C7.5) Break down your total gross global Scope 2 emissions by country/region.
Co
unt
ry/
Re
gio
n

Scope 2, locationbased (metric tons
CO2e)

Scope 2, marketbased (metric tons
CO2e)

Purchased
andconsumed electricity,heat, steam or cooling(MWh)

Purchased and consumed low-carbon
electricity, heat, steam or coolingaccounted for in Scope 2 marketbased approach (MWh)

Ja
pa
n

60,67556,625352,718

3,877

C7.6
(C7.6) Indicate which gross global Scope 2 emissions breakdowns you are able toprovide.
●By business division●

By activity

C7.6a(C7.6a) Break down your total gross global Scope 2 emissions by business division.
Question dependencies

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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
Business
division

Scope 2, location-based (metric tons CO2e)

Scope 2, market-based (metric tons CO2e)

Civil
Engineering31,80029,906

Building
Constructi
on22,395

20,490

Other

6,480

6,229

C7.6c
(C7.6c) Break down your total gross global Scope 2 emissions by business activity.
Activity

Scope 2, location-based (metric tons CO2e)

Scope 2, market-based (metric tons CO2e)

Office

6,480

6,229

Construction

54,19550,396

C7.9(C7.9) How do your gross global emissions (Scope 1 and 2 combined) for the reporting
year compare to those of the previous reporting year?
Decreased

C7.9a(C7.9a) Identify the reasons for any change in your gross global emissions (Scope 1 and
2 combined), and for each of them specify how your emissions compare to the previous
year.
Reason

Chang
e in
renew
able
energyconsu
mptionChange inemissions(metric
tons CO2e)

DirectionofchangeEmissions
value(percentage)

Please explain calculation

4,357

Decre
ased

2.23

Regarding FY2021.3 CO2 emissions (Scope 2), we
saw a decrease compared to FY2020.3 because oflower emission coefficients for the power companies
that the Obayashi Corporation have a contract with
(Hokkaido Electric Power, Tohoku Electric Power,
Tokyo Electric Power, Chubu Electric Power, Hokuriku
Electric Power, Kansai Electric Power, Chugoku
Electric Power, Shikoku Electric Power, and Marubeni
Power Retail).
The variation (amount of decrease) was Σ (FY2020.3
power use x FY2020.3 emission coefficient) - (FY2021.3
84

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

power use x FY2021.3 emission coefficient) = 4,357 tCO2.
Moreover, the proportion of the variation (amount ofdecrease) to FY2020.3 total CO2 emissions (Scope 1 +2) (FY2020.3 reported values (FY2020.3 results):
195,294 t-CO2 (*)) was 4,357 t-CO2 / 195,294 t-CO2 =2.23%.

Other
emissions
reductionactiviti
es

2,290

Decre
ased

1.17

*Our FY2020.3 results were changed from the values inour previous CDP response following third-party
verification.
Regarding FY2021.3 total CO2 emissions (Scope 2), we
estimate a 2,290 t-CO2 reduction thanks to the promotionof LED temporary lighting at Obayashi Corporation
construction sites.
Moreover, the proportion of the variation (amount ofdecrease) to FY2020.3 total CO2 emissions (Scope 1 +2) (FY2020.3 reported values (FY2020.3 results):
195,294 t-CO2 (*)) was 2,290 t-CO2 / 195,294 t-CO2 =1.17%.

Divest
ment

0

No
chang
e

0

*Our FY2020.3 results were changed from the values inour previous CDP response following third-party
verification.
Not Applicable

Acquisitions00

Not Applicable

Merge
rs

0

0

Not Applicable

Chang
e in
output
Chang
e in
metho
dology
Chang
e in
bound
ary
Chang
e in
physicaloperating
conditi

0

No
chang
e
No
chang
e
No
chang
e
No
chang
e

0

Not Applicable0

Not Applicable

0

No
chang
e

0

Not Applicable

0

No
chang
e

0

Not Applicable085

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

ons
Unide
ntified

0

Other

0

No
chang
e
No
chang
e

0

Not Applicable0

Not Applicable

C7.9b(C7.9b) Are your emissions performance calculations in C7.9 and C7.9a based on alocation-based Scope 2 emissions figure or a market-based Scope 2 emissions figure?
Market-based

C8 Energy
C8.1(C8.1) What percentage of your total operational spend in the reporting year was onenergy?
More than 0% but less than or equal to 5%

C8.2(C8.2) Select which energy-related activities your organization has undertaken.
Activity

Indicate whether your organization undertook this energyrelated activity in the reporting year

Consumption of fuel (excluding feedstocks)

Yes

Consumption of purchased or acquired electricity

Yes

Consumption of purchased or acquired heat

No

Consumption of purchased or acquired steam

Yes

Consumption of purchased or acquired cooling

No

Generation of electricity, heat, steam, or cooling

Yes

C8.2a
86

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C8.2a) Report your organization’s energy consumption totals (excluding feedstocks) in
MWh.
Activity

Consumption of fuel(excluding feedstock)

Heating value

MWh from
renewable sources

MWh from nonrenewable sources

Total (renewable +non-renewable)
MWh

HHV (higher

0462,298

462,298

0352,711352,7110

7

7

heating value)

Consumption ofpurchased or acquired
electricity

Consumption ofpurchased or acquired
steam

Consumption of selfgenerated non-fuelrenewable energy

798

Total energy
consumption

798

798

815,016

815,814798

C8.2b
(C8.2b) Select the applications of your organization’s consumption of fuel.
Fuel application

Indicate whether your organization undertakes this fuelapplication

Consumption of fuel for the generation of electricity

Yes

Consumption of fuel for the generation of heat

No

Consumption of fuel for the generation of steamNo

Consumption of fuel for the generation of coolingNo

Consumption of fuel for co-generation or tri-generation

Yes

87

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

C8.2c
(C8.2c) State how much fuel in MWh your organization has consumed (excluding
feedstocks) by fuel type.

Fuels
Gas OilHeating value
LHV
Total MWh consumed by the organization
441,669
MWh consumed for self-generation of electricity
17,667

MWh consumed for self-generation of heat0

MWh consumed self-cogeneration or self-trigeneration
0

Emission factor
2.58

Unit
kg CO2per liter
Emission factor source
List of calculation methods and emission coefficients from calculations, reports, andofficially announced systems of the Ministry of the Environment

Comment
Used mainly for construction equipment and private power generation. We used 1,487
kL of diesel in FY2021.3, of which about 4% was used for private power generation.
441,669×0.04=17,667

Fuels
Liquefied Petroleum Gas (LPG)

Heating value
LHV
Total MWh consumed by the organization
33

MWh consumed for self-generation of electricity0

MWh consumed for self-generation of heat88

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
0

MWh consumed self-cogeneration or self-trigeneration
0

Emission factor
3

Unit
metric tons CO2e per metric ton
Emission factor source
List of calculation methods and emission coefficients from calculations, reports, andofficially announced systems of the Ministry of the Environment

Comment
Used mainly for office (Osaka Machinery Center) hot water supply.

Fuels
Motor Gasoline
Heating value
LHV
Total MWh consumed by the organization855

MWh consumed for self-generation of electricity0

MWh consumed for self-generation of heat0

MWh consumed self-cogeneration or self-trigeneration
0

Emission factor
2.32

Unit
kg CO2e per liter
Emission factor source
List of calculation methods and emission coefficients from calculations, reports, andofficially announced systems of the Ministry of the Environment

Comment
Used mainly for transportation equipment.
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Fuels
Town Gas

Heating value
LHV

Total MWh consumed by the organization
1,085

MWh consumed for self-generation of electricity0

MWh consumed for self-generation of heat0

MWh consumed self-cogeneration or self-trigeneration
84.03

Emission factor
2.23

Unit
CO2 kg/m3

Emission factor source
List of calculation methods and emission coefficients from calculations, reports, andofficially announced systems of the Ministry of the Environment

Comment
Used mainly for office, etc. (Tokyo Machinery Center, Yokohama Machinery Center,
West Japan Robotics Center, East Japan Robotics Center) cafeterias.

Fuels
Kerosene

Heating value
LHV

Total MWh consumed by the organization
19,741

MWh consumed for self-generation of electricity0

MWh consumed for self-generation of heat0

MWh consumed self-cogeneration or self-trigeneration
0

Emission factor
90

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
2.49

Unit
kg CO2e per liter
Emission factor source
List of calculation methods and emission coefficients from calculations, reports, andofficially announced systems of the Ministry of the Environment

Comment
Used mainly for heating in cold areas.

C8.2d(C8.2d) Provide details on the electricity, heat, steam, and cooling your organization has
generated and consumed in the reporting year.
Energy Carrier

Total Gross
generation (MWh)Generation that isconsumed by theorganization (MWh)Gross generationfrom renewablesources (MWh)Generation fromrenewable sourcesthat is consumed by
the organization(MWh)Electricity

882

882

798

798

Heat

0

0

0

0

Steam

0

0

0

0

Cooling

0

0

0

0

C8.2e
(C8.2e) Provide details on the electricity, heat, steam, and/or cooling amounts that were
accounted for at a zero emission factor in the market-based Scope 2 figure reported in
C6.3.

Sourcing method
Power purchase agreements (PPA), electric generators connected to power grid, noenergy attribute certification

Low-carbon technology type
Other, please specify
91

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
Solar power, hydropower, wind power, biomass power

Country/area of consumption of low-carbon electricity, heat, steam or coolingJapan

MWh consumed accounted for at a zero emission factor
3,877

Comment

C9 Additional metrics
C9.1(C9.1) Provide any additional climate-related metrics relevant to your business.

Description
Waste
Metric value
12.7

Metric numerator
Construction waste emissions from new construction (excl. sludge) [t]Metric denominator (intensity metric only)
Civil engineering construction volume for that year [100,000,000 yen]

% change from previous year
28.7

Direction of change
Decreased
Please explain
We tally the total of construction waste excluding sludge from new construction basedon the manifestos as well as calculate construction volume output level from the annual
construction volume for new construction. We assess the emission reduction rate bylooking at aging for construction volume proportion. FY2021.3 saw a drop to FY2019.3
levels because of a decrease a decrease in large buildings using inverted construction
compared to FY2020.3 and in construction volume.

C-CE9.6/C-CG9.6/C-CH9.6/C-CN9.6/C-CO9.6/C-EU9.6/CMM9.6/C-OG9.6/C-RE9.6/C-ST9.6/C-TO9.6/C-TS9.6
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C-CE9.6/C-CG9.6/C-CH9.6/C-CN9.6/C-CO9.6/C-EU9.6/C-MM9.6/C-OG9.6/C-RE9.6/CST9.6/C-TO9.6/C-TS9.6) Does your organization invest in research and development(R&D) of low-carbon products or services related to your sector activities?
Investment in
low-carbon
R&D

ro Yesw
1

Comment

The Obayashi Corporation is a construction business and is investing in
the development of technologies for environmental performance andconstruction that conserve energy as low-carbon products as well as
technologies for building management as services. In FY2021.3,"environment-related development costs" corresponded to 4,987,000,000
yen of environmental preservation costs.

C-CN9.6a/C-RE9.6a(C-CN9.6a/C-RE9.6a) Provide details of your organization’s investments in low-carbon
R&D for real estate and construction activities over the last three years.

Technology area
Unable to disaggregate by technology area
Stage of development in the reporting year
Average % of total R&D investment over the last 3 years
41 - 60%
R&D investment figure in the reporting year (optional)
4,987,000,000

Comment
Since the construction of buildings involves introducing facilities and equipment toimprove performance during operations (incl. designs), selecting and applying materials
and products used, and packaging safety and other diverse functions, our R&D also
requires complex and diversified consideration. The same goes for R&D expenditures,
so we do not extract them individually but count them as "environment-related
development costs."

C-CN9.10/C-RE9.10(C-CN9.10/C-RE9.10) Did your organization complete new construction or majorrenovations projects designed as net zero carbon in the last three years?
No, but we plan to in the future

C-CN9.11/C-RE9.11
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C-CN9.11/C-RE9.11) Explain your organization’s plan to manage, develop or construct
net zero carbon buildings, or explain why you do not plan to do so.
The Obayashi Corporation equipped the Techno-Station of the Technology Research Institute,which was completed in 2010, with renewable energy facilities. It achieved ZEB in the
FY2015.3 operational results and this was still the case in FY2021.3. We are using that knowhow to promote ZEB construction for our clients too. As the construction industry is orderbased, we were not able to supply the market with ZEB in the most recent three years, but wehave also been working on projects that are highly rated under BELS (Building-housing
Energy-efficiency Labelling System), some of which are under construction and received ZEB
Ready certification in FY2021.3. We already have the technological capacity to construct andsupply ZEB projects, so our aim is to communicate its recognition as a climate change
measure to business owners from the sales stage and supply the market with buildings thathave high environment performance as part of our business activities.

C10 Verification
C10.1(C10.1) Indicate the verification/assurance status that applies to your reported
emissions.
Scope

Verification/assurance status

Scope 1

Third-party verification or assurance process inplace

Scope 2 (location-based or market-based)

Third-party verification or assurance process inplace

Scope 3

Third-party verification or assurance process inplace

C10.1a(C10.1a) Provide further details of the verification/assurance undertaken for your Scope
1 emissions and attach the relevant statements.
Verification or assurance cycle in place
Annual process
Status in the current reporting year
It is currently being written and is not finished with regard to the reporting year - We
94

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
have attached past processing statements

Type of verification or assurance
Limited assurance
Attach the statement【Obayashi Corporation】Verification Report of Environmental Information.pdf

Page/section reference
1/1

Relevant standard
ISO14064-3

Proportion of reported emissions verified (%)
100

C10.1b
(C10.1b) Provide further details of the verification/assurance undertaken for your Scope
2 emissions and attach the relevant statements.

Scope 2 approach
Scope 2 market-based
Verification or assurance cycle in place
Annual process
Status in the current reporting year
It is currently being written and is not finished with regard to the reporting year - Wehave attached past processing statements

Type of verification or assurance
Limited assurance
Attach the statement【 Obayashi Corporation】Verification Report of Environmental Information.pdf

Page/ section reference
1/1

Relevant standard
ISO14064-3

Proportion of reported emissions verified (%)
100

C10.1c95

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C10.1c) Provide further details of the verification/assurance undertaken for your Scope
3 emissions and attach the relevant statements.

Scope 3 category
Scope 3 (upstream & downstream)
Verification or assurance cycle in place
Annual process
Status in the current reporting year
Underway but not complete for reporting year – previous statement of processattached
Type of verification or assurance
Limited assurance
Attach the statement【Obayashi Corporation】Verification Report of Environmental Information.pdf

Page/ section reference

Relevant standard

ISO14064-3

Proportion of reported emissions verified (%)
100

C10.2
(C10.2) Do you verify any climate-related information reported in your CDP disclosure
other than the emissions figures reported in C6.1, C6.3, and C6.5?
No, we do not verify any other climate-related information reported in our CDP disclosure

C11 Carbon pricing
C11.1(C11.1) Are any of your operations or activities regulated by a carbon pricing system (i.e.
ETS, Cap & Trade or Carbon Tax)?
Yes

C11.1a96

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

(C11.1a) Select the carbon pricing regulation(s) which impacts your operations.
Tokyo CaT - ETS

C11.1b
(C11.1b) Complete the following table for each of the emissions trading schemes you
are regulated by.
Tokyo CaT - ETS% of Scope 1 emissions covered by the ETS
1.13% of Scope 2 emissions covered by the ETS
9.33

Period start date
1 April, 2020

Period end date
31 March, 2025

Allowances allocated0

Allowances purchased
0

Verified Scope 1 emissions in metric tons CO2e
1,288.8

Verified Scope 2 emissions in metric tons CO2e5,281

Details of ownership
Other, please specify
Facilities either partly or fully owned and managed by us

Comment
We report the CO2 emissions of our offices and facilities in Tokyo Metropolis (offices
and facilities with oil equivalent energy usage of at least 30 kL and less than 1,500 kL in
the previous fiscal year) in accordance with the Tokyo Metropolitan Government's
Program for Reporting on Measures against Global Warming. This system is part of theurban cap & trade system for office buildings, etc. that is led by Tokyo Metropolis. Since
the deadline for submitting the FY2021.3 results has yet to come, the reported values
are from the FY2020.3 results.

C11.1d(C11.1d) What is your strategy for complying with the systems you are regulated by or
anticipate being regulated by?
The Obayashi Corporation owns offices as bases for our business activities. As with the97

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
activities at our construction sites, office energy use and concomitant greenhouse gas
emissions have to be considered in terms of climate change measures for our businessactivities and it is important that we keep emissions down. Especially in Tokyo where we havegreatest number of employees, we report the CO2 emissions of our offices and facilities inTokyo Metropolis (offices and facilities with oil equivalent energy usage of at least 30 kL andless than 1,500 kL in the previous fiscal year) in accordance with the Tokyo Metropolitan
Government's Program for Reporting on Measures against Global Warming. The following aremeasures we implement and promote to cut emissions.
1. We are utilizing the ISO14001 organizational system that we are operating inside the
Obayashi Corporation to promote energy conservation, appointing an energy conservation
manager at each store and creating a system for promoting activities.
2. We measure the energy use figures of each department annually and announce them to all
employees through the abovementioned system, thereby seeking to raise everyone's energy
conservation awareness.
By making reports according to this system, we encourage higher awareness about emissions
from office activities and thus contribute to keeping CO2 emissions down. Offices are in
constant use, so we will continue the virtuous circle of raising awareness and promoting
reduced emissions. Furthermore, as the FY2021.3 report is still under inspection (end of
August submission), these are the FY2020.3 results, but we achieved 1,288.8 t-CO2 for Scope
1 and 5,281.0 t-CO2 for Scope 2, thus totaling 6,569.8 t-CO2 in CO2 emissions, which is areduction from 6,759.5 t-CO2 in the previous fiscal year.

C11.2(C11.2) Has your organization originated or purchased any project-based carbon credits
within the reporting period?
No

C11.3
(C11.3) Does your organization use an internal price on carbon?
No, and we don’t anticipate doing so in the next two years

C12 Engagement
C12.1(C12.1) Do you engage with your value chain on climate-related issues?
Yes, our suppliers
Yes, our customers
Yes, other partners in the value chain

C12.1a(C12.1a) Provide details of your climate-related supplier engagement strategy.

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Type of engagement
Information collection (understanding supplier behavior)
Details of engagement
Collect climate change and carbon information at least annually from suppliers% of suppliers by number
100% total procurement spend (direct and indirect)
100% of supplier-related Scope 3 emissions as reported in C6.5
99.8

Rationale for the coverage of your engagement
The Obayashi Corporation considers initiatives involving our supply chains as a whole
indispensable to fulfilling our corporate social responsibility (CSR), including ourenvironmental protection activities. We work to conduct fair business with our suppliers
and strengthen mutual trust in order to grow and develop together as partners. We ask
our partners to familiarize themselves with the Obayashi Basic Principles and our ideas
about CSR, aiming to engage with themes like human rights, safety and health, theenvironment, product quality, and social contributions together.
The Obayashi Corporation formualted CSR procurement guidelines in June 2011 for therealization of a sustainable society as expressed in the Obayashi Basic Principles. In
March and November 2020, we revised our Obayashi Group CSR Procurement Policy, forexample by incorporating more concrete items, in light of various demands from society.
In the Obayashi Group CSR Procurement Policy, the Basic Policy on CSR Procurement
Initiatives prescribes items that Obayashi Group directors and employees need tocomply with to promote CSR procurement, while the CSR Procurement Guidelines
prescribe those things that the Obayashi Group expects of its suppliers in line with thispolicy. By building positive partnerships with our suppliers that are based on mutual
trust and founded on this policy, and by working with suppliers to ensure that the CSR
Procurement Guidelines are understood and take root not only at suppliers but
throughout their supply chains, we can help promote CSR initiatives with all supply
chains concerned with the business of the Obayashi Group. Furthermore, major items
are stipulated in the agreements we conclude with supplies, and we make sure to checkthem when concluding the agreement.
The Obayashi Group CSR Procurement Policy prescribes 9 items, including
environmental responsibility. Moreover, "environmental responsibility" specifies "efforts toprotect the environment and reduce environmental impact" and covers responses toclimate-related issues (reducing CO2 through energy conservation, resource conservation,etc.).
Moreover, the Obayashi Group stipulates our own Green Procurement Guidelines for
Office Supplies and Construction Materials and Equipment separately. These aim tocontribute to our environmental protection activities, including procurement policy items
like "promoting energy and resource conservation" and "reducing CO2 emissions."
Moreover, they prescribe that suppliers' environmental work should be evaluatedaccording to the "standard character of suppliers," procuring goods primarily from thosethat perform well relative to that standard.
The Obayashi Group CSR Procurement Policy and the Green Procurement Guidelines99

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
for Office Supplies and Construction Materials and Equipment are aimed at all of our
supplies, and we publicize responses internally and externally. As such, they covered all
suppliers we had dealings with in FY2021.
Furthermore, as regards the construction business, which is the Obayashi Corporation's
main business, the partner companies that we work together with at our construction
sites are key suppliers, so we absolutely need to cooperate well with them.
At our construction sites, our employees work together with partners to reduce CO2
emissions from construction by using low-carbon construction machinery, operating
vehicles and machinery fuel-efficiently, and implementing idle reduction. Moreover, thehelp of our partner companies is indispensable in our surveys of fuel consumption atconstruction sites, which is what we base our calculations of CO2 emissions fromconstruction on. Those emissions make up at least 99% of the Obayashi Corporation's
Scope 1 CO2 emissions.

Impact of engagement, including measures of success
The Obayashi Corporation has set "response rate of questionnaires on understanding of
CSR procurement guidelines" as one of the KPIs for the action plan "Promoting CSR
procurement," which was defined based on our ESG materialities. We saw a considerable
improvement from FY2020 (73%) as it rose to 96.3% in FY2021. This suggests that our
promotion of CSR procurement among all suppliers, including responses to climaterelated issues (reducing CO2 through energy conservation, resource conservation, etc.),
is successful.
About 1.100 companies in different industries are part of the Obayashi Rin-yu-kai, which
is an organization for partner companies across Japan.
We regularly hold liaison meetings with members of the Obayashi Rin-yu-kai to sharedifferent types of information.
When any of the Obayashi Corporation's suppliers (partners), including members of the
Obayashi Rin-yu-kai, work together with us at a construction site of ours, it is assumed
that they will adhere to our construction management in accordance with the construction
contract.
This includes the Obayashi Corporation's environmental protection activities, including
CO2 emission reductions through our environmental management system.
This shows that we are cooperating with all our suppliers (partners).
Furthermore, the FY2021 environment targets we have set in the Obayashi
Corporation's environmental management system include "reduction rate for CO2
emissions from construction," "implementation rate for fuel-efficient operations training
at the construction site," and "green procurement rate." We inform our suppliers(partners) about these environment targets and our environment protection activities(idle reduction, fuel-efficient operations, green procurement, etc.) as well as track andevaluate the activities on a quarterly basis. The evaluations help us assess the effects
and success of our engagement with suppliers.
As an example, with regard to the environmental target "reduction rate for CO2
emissions from construction," we ask our suppliers (partners) to report the monthly
diesel usage at the Obayashi Corporation construction site every quarter. The data arethen used to calcualte the Obayashi Corporation's CO2 emissions and "reduction rate
for CO2 emissions from construction."
At Obayashi Corporation construction sites, our environmental management system
requires the implementation of environmental education not only for our workers andemployees but also for the workers of our partners. Furthermore, we implement fuelefficient operations training as an environmental target of our environmental
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
management system. Moreover, the FY2021 implementation rate was 60% comparedto the target of 70% or more.
The "reduction rate for CO2 emissions from construction (FY2014 baseline)," which isan environmental target item for engineering and construction in our environmental
management system, is a direct evaluation indicator of success regarding collaboration
with partner companies in climate-related issues. We achieved 28.3% in FY2021,
compared to the target of 15.0% or more. Moreover, CO2 emissions per construction
unit went down from 14.4 t-CO2/100 million yen in FY2020 to 13.8 t-CO2/100 million
yen in FY2021. This result suggests successful engagement with our partnercompanies.
Moreover, our engagement with partner companies is influencing their actions. As an
example, we have seen suppliers (partners) switch their construction machinery, which
they bring to the construction site, to machinery that reduces emission gases.

Comment

C12.1b
(C12.1b) Give details of your climate-related engagement strategy with your customers.

Type of engagement
Collaboration & innovation
Details of engagement
Run an engagement campaign to educate customers about your climate change
performance and strategy% of customers by number
100% customer-related Scope 3 emissions as reported in C6.5
15.3

Please explain the rationale for selecting this group of customers and scopeof engagement
In the Obayashi Corporation's corporate code of conduct, which is based on the
Obayashi Basic Principles, prescribes items like "environment-friendly society-building"and "providing high-quality structures and services" as "indicators for remaining acompany trusted by all stakeholders." We also provide all our clients (orderers) withenvironment-friendly technology, etc.
As such, all our clients are subject to engagement.
Furthermore, we work to provide clients with satisfactory high-quality structures andservices through integrated quality management based on our quality management
system, provide clients with initiatives and solutions for advanced technology
development that meets their various needs, and support our clients in everything fromformulating BCP (business continuity planning) to restoration work during disasters.
In particular, considering that much CO2 is emitted when operating a building, in the101

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
case of buildings designed and built by the Obayashi Corporation, we are actively
providing clients (orderers) with technology that can reduce CO2 emissions frombuilding operations, such as CASBEE* specifications of A rank or higher and ZEB.
*Comprehensive Assessment System for Built Environment Efficiency
More concretely, we have set a reduction rate for CO2 emissions from operations ofbuildings designed and built by us (compared to CASBEE reference building) of 25% ormore as an environmental target for design in our environmental management system.
Since this has a major impact on the Obayashi Corporation's Scope 3 CO2 emissions(category 11: use of sold products) and the building operations costs of clients (orderers)
with regard to energy conservation during building operations, we are collaborating withall our clients (orderers) from the sales and design stages.
In addition, we have set "Proportion of design and construction jobs (2,000 m2 or more)with CASBEE A rank or higher" as a KPI for the ESG materiality "Forming a society thatis kind to the environment." We aim to achieve 70% or more in FY2022.

Impact of engagement, including measures of success
The Obayashi Corporation has set "Client satisfaction" as a KPI based on our ESG
materialities. We achieved 96.8% in "Client satisfaction" in FY2021, which is aconsiderable increase compared to FY2020 (85.4%). This suggests that we aresuccessfully engaging with all our clients.
Furthermore, the "reduction rate for CO2 emissions from design (compared to CASBEE
standard)," which is an environmental target item for design in our environmental
management system, is a direct evaluation indicator of success regarding collaboration
with clients (orderers) in climate-related issues. In FY2021, we achieved 23% comparedto the target of 25% or more.
Through this, the Obayashi Corporation reduces our Scope 3 CO2 emissions (category
11: use of sold products) and we estimate that we can contribute to climate action by
reducing energy costs and CO2 emissions for building operations by clients (orderers).
In addition, we expect that engagement with all clients can help reduce CO2 emissions
as well as encourage technological innovation.
Moreover, we have set "Proportion of design and construction jobs (2,000 m2 or more)with CASBEE A rank or higher" as a KPI for the action plan "Promoting an environmentfriendly business" based on our ESG materialities. We achieved 64% in FY2021.

C12.1d(C12.1d) Give details of your climate-related engagement strategy with other partners in
the value chain.
The Obayashi Corporation has started work on the construction of a geothermal demonstration
power plant in collaboration with Oita Chinetsu, who engage in development, construction,
management, power sales, and comprehensive consulting with regard to geothermal and otherrenewable energies, for the realization of a society that utilizes CO2-free hydrogen by using
geothermal power. S:Situation ：Global warming
T: Task ：Utilizing CO2-free hydrogen as a form of clean energy for carbon neutrality in 2050.
A: Action ：The Obayashi Corporation started construction of a geothermal demonstration power plant in102

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日
Kokonoe-machi, Kusu-gun, Oita in July 2020. It shares the grounds with a hydrogenproduction demonstration plant that uses geothermal power and is the first attempt in Japan totrial the processes involved in supplying various users with CO2-free hydrogen obtained withgeothermal power. We are doing this in collaboration with Oita Chinetsu. The corporate
philosophy of Oita Chinetsu is "Contributing to community and society building through thedevelopment of renewable energies." They have been generating geothermal energy in
Kokonoe-machi, Kusu-gun, Oita since 2013, not only gaining the understanding of residents in
the relevant areas but also having a track record of contributions to those areas.
The Obayashi Corporation has continuously worked to expand the use of renewable energies,
such as solar power, biomass power, and wind power. Geothermal power, which is one type of
renewable energy, is an excellent power source that can be supplied stably. However, power
grid capacity is insufficient as suitable locations for generation are located in mountainous
areas and connecting it to power lines is difficult as the capacity of commercial power systems
for the application of feed-in tariffs (FIT) (*1) tends to be first filled with other renewableenergies whose development is quicker. These are challenges that are slowing downcommercialization. Moreover, hydrogen is characterized by not releasing any CO2 when used
and being suited for large-capacity storage. In particular, CO2-free hydrogen produced throughwater electrolysis with renewable energy contributes to reducing the environmental load andimproving energy self-sufficiency. As such, the Obayashi Corporation is working to promote
the use of CO2-free hydrogen alongside the development of geothermal power generation by
trialing a scheme to send hydrogen produced with geothermal power in Oita to factories andother facilities through land transportation. The Obayashi Corporation has previously been
engaged in research for the social implementation of supply chains of CO2-free hydrogenusing geothermal power in New Zealand, where geothermal power is very popular. This new
trial builds on insights from there and aims to examine all the commercialization processes
from selecting and surveying candidate locations for geothermal power generation in Japan,
constructing power plants, and producing and supplying hydrogen made with that power. The
trial involves the designing, construction, and performance study of a geothermal
demonstration power plant using binary generators (*2).
In addition, the hydrogen production demonstration plant using geothermal power utilizes anenergy management system (EMS) for plants with multiple operational modes (*3) that the
Obayashi Corporation has developed. The trial investigates how to produce hydrogen
optimally. Furthermore, the EMS adds functionality for tracking transportation via GPS devices
in the hydrogen trucks as well as managing efficient continuous operations to avoid having tostop and restart the plant in accordance with the trucks' arrival and departure schedules. The
plan is for the geothermal demonstration power plant and the hydrogen production
demonstration plant to start operations in July 2021.
R: Result：
The CO2-free hydrogen produced at the demonstration plant will be used effectively as a local
energy resource, for example by being supplied to local factories and fueling the fuel cells of
forklifts. Moreover, we are considering various ways to make use of the geothermal power andCO2-free hydrogen created in the trial while looking for a broad range of research partners,
thereby helping local residents and many others experience the use of renewable energies andthe arrival of the hydrogen society as something familiar and close by. The Obayashi
Corporation will continue to engage in problem-solving for the environment and society byworking with entire supply chains that involve the production of CO2-free hydrogen using
renewable energy and its transportation, storage, and supply.
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*1 Feed-in tariffs (FIT): system that makes it necessary for power companies to purchasepower generated from renewable energy at a price set by the government for a certain periodof time.
*2 Binary generator: Machine that spins turbines with steam from heating and evaporating a
medium with a low boiling point. A lot of power can be generated from geothermal energy
whose steam is relatively low-temperature and low-pressure.
*3 Multiple operational modes: There are the following three types.
Maximal hydrogen production mode: the operational mode that produces the most hydrogen ina year (100% load factor on and rate of operation of the hydrogen producing machines).
Cheapest hydrogen production mode: the operational mode that produces hydrogen at thelowest cost (operates the hydrogen producing machines and peripheral equipment at theoperating point of best efficiency)
Green priority generation mode: the operational mode that has the highest proportion ofgeothermal power in the production of hydrogen (by operating the hydrogen production andperipheral equipment so that geothermal power can provide the most of the power used, theamount of purchased grid power can be made as small as possible)

C12.3(C12.3) Do you engage in activities that could either directly or indirectly influence
public policy on climate-related issues through any of the following?
Trade associations
Other

C12.3b
(C12.3b) Are you on the board of any trade associations or do you provide funding
beyond membership?
Yes

C12.3c(C12.3c) Enter the details of those trade associations that are likely to take a position on
climate change legislation.

Trade association
Japan Federation of Construction Contractors
Is your position on climate change consistent with theirs?
Consistent
Please explain the trade association’s position
The Japan Federation of Construction Contractors (hereinafter, "the JFCC") has
developed the Plan for Promoting a Decarbonized Society with targets for reducing
CO2 emissions generated during construction: a 20% reduction compared to 1990 by
2020 and a 25% reduction compared to 1990 by 2030.
The JFCC is a federation of companies in the general construction industry across104

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Japan as well as organizations of construction contractors that make up thosecompanies. It is engaged in solving various internal and external basic issues relating to
the construction industry, including the various construction-related systems, and also
works to achieve healthy development for Japanese construction by promoting
construction-related technological progress and better management. Through this, itaims to contribute to a stronger foundation for the lives of the people of Japan andindustrial activities.
The JFCC's climate action-related activities aim to investigate and research
construction-related environmental issues as well as promote advice andcountermeasures. It does this through the Environment Committee and several
dedicated subcommittees within, such as the Global Warming Countermeasures
Subcommittee. More concretely, it is formulating the Independent Action Plan for theEnvironment in Construction by organizing its environmental activities in theconstruction industry according to the three themes creating a low-carbon society,creating a recycling-oriented society, and creating a society that respects the natural
world on the basis of environmental management.

How have you influenced, or are you attempting to influence their position?
The Obayashi Corporation takes part as a member of the JFCC's Environment
Committee as well as the Environmental Management Subcommittee and the Global
Warming Countermeasures Subcommittee, which fall under that committee, and works
together on the formulation, implementation, and spread of the Independent Action
Plans for the Environment in Construction.
Moreover, we take part as a member of the Global Warming Countermeasures
Subcommittee, which is a working group for the Plan for Promoting a DecarbonizedSociety, and are involved in the formulation and implementation of that plan.

C12.3e(C12.3e) Provide details of the other engagement activities that you undertake.
The Obayashi Corporation works together with the New Energy and Industrial Technology
Development Organization (hereinafter, "NEDO") and Kawasaki Heavy Industries (hereinafter,"KHI") to commence a demonstration trial of dry low-NOx hydrogen-exclusive combustion gas
turbines that use "micro-mix combustion" technology developed by KHI in May 2020, as part ofa project for technological development to build a hydrogen society. In July 2020, we were thefirst in the world to succeed with this (*). Dry combustion generates power more efficiently thanconventional methods and can also reduce NOx emissions. Hydrogen has a variety of uses,
including gas turbine power generation and fuel cell vehicles, and since it characteristicallydoes not emit CO2 when used as energy, it is expected to play a central role in the future as theultimate green energy. NEDO is promoting the project for technological development to build ahydrogen society as part of its efforts to realize a hydrogen society. Amid this, KHI and the
Obayashi Corporation conducted a demonstration trial of hydrogen gas turbines that support
everything from mixed combustion of natural gas and hydrogen to hydrogen-exclusive
combustion in FY2018.3 and FY2019.3, applying a "water injection method" that keeps down
NOx generation from local high-temperature combustion. We worked together with Kobe City,
Kansai Electric Power Company, and others, expecting a demand for power generation thatcombines hydrogen and natural gas in the early phase of hydrogen power. This trial allowed us
to supply heat and power to a town area through hydrogen-exclusive combustion on Port Island,
Kobe for the first time in the world in April 2019.
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We have conducted development of dry low-NOx hydrogen-exclusive combustion gas turbines
since FY2020.3, and in July 2020, we were the first in the world to successfully trial such gas
turbines, which were developed by KHI. This trial aimed to improve further efficiency inhydrogen power generation and reduce the environmental load (reduce emissions of nitrogenoxide (NOx)) through hydrogen-exclusive combustion that uses a dry combustion method. The
Obayashi Corporation is steadily implementing this project together with NEDO and KHI toestablish a new energy supply system that supports efficient energy use by local communities,
working toward realizing a hydrogen society through expanded use of hydrogen energy.
*Developed the world's first dry low-NOx hydrogen-exclusive combustion gas turbine. KHI
investigation based on publicly available materials from the gas turbine maker.

C12.3f(C12.3f) What processes do you have in place to ensure that all of your direct andindirect activities that influence policy are consistent with your overall climate change
strategy?
The Obayashi Corporation participates in JFCC's Environment Committee through our directors
in charge of the environment, who are members of our Board of Directors, which oversees
climate-related risks and opportunities, members of our CSR Committee, which formulates ourbasic policies to promote activities on climate-related issues and other CSR activities as well as
proposes measures and evaluates their implementation, and chair of the Environmental
Management Expert Committee, which is subordinate to the CSR Committee.
From the Obayashi Corporation, the members of the secretariat (ESG & SDGs Department of the
Corporate Strategy Division) of the CSR Committee, which is chaired by the President, and thesecretariat (Environmental Management Team, Safety, Quality & Environment Division) of theEnvironmental Management Expert Committee (chaired by director in charge of the environment),
which falls under the CSR Committee, take part as members of the Environmental Management
Subcommittee and the Global Warming Countermeasures Subcommittee, which fall under the
JFCC's Environment Committee.
We make sure that the contents relating to climate change issues deliberated by thecommittees and subcommittees of the JFCC coincide with our climate change strategy throughprocesses of reporting and sharing it at our Board of Directors, CSR Committee, Environmental
Management Expert Committee, and other organizations. Moreover, if something is found not
to match the Obayashi Corporation's climate change strategy, we may try to make the twocoincide by having our members in the JFCC's committees and subcommittees express ouropinions and work to indirectly influence public policy.

C12.4(C12.4) Have you published information about your organization’s response to climatechange and GHG emissions performance for this reporting year in places other than inyour CDP response? If so, please attach the publication(s).

Publication
In mainstream reports106

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

StatusComplete
Attach the document【Obayashi Corporation】117th Annual Securities Report.pdf

Page/Section reference・Management policy, business environment and issues to be addressed, etc. (P11-14)
・Business and other risks (P15-17)
・Research and Development (P24-26)
・Overview of capital investment (P27-28)
・Plans for capital investment, disposals of properties, etc. (P29)
・Corporate governance (P37-40)

Content elements
Governance
Strategy
Risks & Opportunities
Other, please specify
Research and development, overview of capital investments, plans for capital
investment, disposals of properties, etc.

Comment

Publication
In voluntary sustainability report
StatusUnderway – previous year attached
Attach the document【Obayashi Corporation】OBAYASHI Corporate Report 2020.pdf
Page/Section reference
・About Obayashi Group: Obayashi Basic Principles（P.4）, Performance at a
Glance（Consolidated Financial Highlights）（P.8）
・A Strategy for Growth through ESG Management: President’s Message（P.9-12）,
A Direction Forward（P.13- 14）, Our Value Creation（P15-16）
・A Foundation for ESG Management: Materialities and KPIs（P29-30）,
Establish an Environmentally Responsible Society（P31-32）

Content elements
Governance107

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Strategy
Risks & Opportunities
Emissions figures
Emission targets
Other metrics
Comment
The Obayashi Corporate Report (integrated report) collects important information forunderstanding the Obayashi Corporation and the Obayashi Group. More detailed
information can be found in our ESG Data Book and on our website.

C15 Signoff
C-FI(C-FI) Use this field to provide any additional information or context that you feel isrelevant to your organization's response. Please note that this field is optional and is notscored.

C15.1(C15.1) Provide details for the person that has signed off (approved) your CDP climatechange response.

row 1

Job title

Corresponding job
category

Directors in charge of risks and the environment

Director on board

SC Supply chain
SC0.0(SC0.0) If you would like to do so, please provide a separate introduction to this module.

SC0.1(SC0.1) What is your company’s annual revenue for the stated reporting period?
Annual revenuerow 1

1,230,418,000,000

SC0.2
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(SC0.2) Do you have an ISIN for your company that you would be willing to share with
CDP?
No

SC1.1
(SC1.1) Allocate your emissions to your customers listed below according to the goods
or services you have sold them in this reporting period.

Requesting member
KAO Corporation

Scope of emissions
Scope 1
Allocation level
Company wide
Allocation level detail
Emissions in metric tons of CO2e
0.005

Uncertainty (± %)10Major sources of emissions
Total CO2 emissions under Scope 1 and Scope 2.
Scope 1 and Scope 2 are CO2 emissions calculated from use of power, diesel, kerosene,gas, etc. consumed at the construction sites.

Verified
Yes
Allocation method
Other, please specify
It is calculated by multiplying the volume of completed construction in FY2021.3 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2021.3 (construction).

Please explain how you have identified the GHG source, including major
limitations to this process and assumptions madeWe have tracked use of electricity, diesel, kerosene, and gas at our construction sites
based on the calculation criteria in the Guidelines for Environmental Accounting inConstruction (JFCC) with regard to Scope 1 and 2 emissions.
More concretely, we tally energy use through our own CO2 emission aggregation
systems and calculate emissions as well as O2 emission intensity per construction
project.
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Requesting member
NEC Corporation

Scope of emissions
Scope 1
Allocation level
Company wide
Allocation level detail

Emissions in metric tons of CO2e162.07

Uncertainty (± %)10Major sources of emissions
Total CO2 emissions under Scope 1 and Scope 2.
Scope 1 and Scope 2 are CO2 emissions calculated from use of power, diesel, kerosene,gas, etc. consumed at the construction sites.

Verified
Yes
Allocation method
Other, please specify
It is calculated by multiplying the volume of completed construction in FY2021.3 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2021.3 (construction).

Please explain how you have identified the GHG source, including major
limitations to this process and assumptions madeWe have tracked use of electricity, diesel, kerosene, and gas at our construction sites
based on the calculation criteria in the Guidelines for Environmental Accounting inConstruction (JFCC) with regard to Scope 1 and 2 emissions.
More concretely, we tally energy use through our own CO2 emission aggregation
systems and calculate emissions as well as O2 emission intensity per construction
project.

Requesting member
Toyota Motor Corporation

Scope of emissions
Scope 1110

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Allocation level
Company wide
Allocation level detail

Emissions in metric tons of CO2e4,664.64

Uncertainty (± %)10Major sources of emissions
Total CO2 emissions under Scope 1 and Scope 2.
Scope 1 and Scope 2 are CO2 emissions calculated from use of power, diesel, kerosene,gas, etc. consumed at the construction sites.

Verified
Yes
Allocation method
Other, please specify
It is calculated by multiplying the volume of completed construction in FY2021.3 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2021.3 (construction).

Please explain how you have identified the GHG source, including major
limitations to this process and assumptions madeWe have tracked use of electricity, diesel, kerosene, and gas at our construction sites
based on the calculation criteria in the Guidelines for Environmental Accounting inConstruction (JFCC) with regard to Scope 1 and 2 emissions.
More concretely, we tally energy use through our own CO2 emission aggregation
systems and calculate emissions as well as O2 emission intensity per construction
project.

Requesting member
Microsoft Corporation

Scope of emissions
Scope 1
Allocation level
Company wide
Allocation level detail

Emissions in metric tons of CO2e0111

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Uncertainty (± %)0Major sources of emissions
Total CO2 emissions under Scope 1 and Scope 2.
Scope 1 and Scope 2 are CO2 emissions calculated from use of power, diesel, kerosene,gas, etc. consumed at the construction sites.

Verified
Yes
Allocation method
Other, please specify
It is calculated by multiplying the volume of completed construction in FY2021.3 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2021.3 (construction).

Please explain how you have identified the GHG source, including major
limitations to this process and assumptions madeWe have tracked use of electricity, diesel, kerosene, and gas at our construction sites
based on the calculation criteria in the Guidelines for Environmental Accounting inConstruction (JFCC) with regard to Scope 1 and 2 emissions.
More concretely, we tally energy use through our own CO2 emission aggregation
systems and calculate emissions as well as O2 emission intensity per construction
project.

SC1.2(SC1.2) Where published information has been used in completing SC1.1, pleaseprovide a reference(s).
ESG Data Book

SC1.3
(SC1.3) What are the challenges in allocating emissions to different customers, andwhat would help you to overcome these challenges?
Allocation challenges

Please explain what would help you overcome these challenges

Managing the different emission

Construction offices and sites are set up and managed
temporarily in the construction industry, so we calculate
total emissions for the whole corporation based on
project intensity in sampling surveys.

factors of diverse and numerous
geographies makes calculating
total footprint difficult

It is possible to calculate emissions by individual clientfrom their proportion (ratio) of annual projects, so wereport these emissions to clients who request it, but do
not calculate emissions for clients who do not need itthemselves.

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SC1.4
(SC1.4) Do you plan to develop your capabilities to allocate emissions to yourcustomers in the future?
No

SC1.4b
(SC1.4b) Explain why you do not plan to develop capabilities to allocate emissions toyour customers.
Construction offices and sites are set up and managed temporarily in the construction industry,so we estimate totals based on sampling surveys. Because of this, we cannot accurately
calculate emissions by individual client.

SC2.1(SC2.1) Please propose any mutually beneficial climate-related projects you could
collaborate on with specific CDP Supply Chain members.

Requesting member
KAO Corporation

Group type of project
Change to provision of goods and services
Type of project
Other, please specify
Proposal and provision of energy efficient buildings
Emissions targeted
Actions that would reduce both our own and our customers’ emissions
Estimated timeframe for carbon reductions to be realized
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback
Details of proposal
Requesting member
NEC Corporation

Group type of project
Change to provision of goods and services
Type of project113

Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Other, please specify
Proposal and provision of energy efficient buildings
Emissions targeted
Actions that would reduce both our own and our customers’ emissions
Estimated timeframe for carbon reductions to be realized
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback
Details of proposal
Requesting member
Toyota Motor Corporation

Group type of project
Change to provision of goods and services
Type of project
Other, please specify
Proposal and provision of energy efficient buildings
Emissions targeted
Actions that would reduce both our own and our customers’ emissions
Estimated timeframe for carbon reductions to be realized
Other, please specify
From product delivery to end of use

Estimated lifetime
CO2e savings
Estimated payback
Details of proposal

Requesting member
Microsoft Corporation

Group type of project
Change to provision of goods and services
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Obayashi Corporation CDP 気候変動質問書 2021 2021 年 7 月 28 日

Type of project
Other, please specify
Proposal and provision of energy efficient buildings
Emissions targeted
Actions that would reduce both our own and our customers’ emissions
Estimated timeframe for carbon reductions to be realized
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings0
Estimated payback
Details of proposal

SC2.2(SC2.2) Have requests or initiatives by CDP Supply Chain members prompted yourorganization to undertake organizational-level emissions reduction initiatives?
No

SC4.1
(SC4.1) Are you providing product level data for your organization’s goods or services?
No, I am not providing data

Submission of Your Response
In which language do you submit your response?
Japanese

Please confirm how you would like your response to be handled by the CDP.
Submission toWe submit
the response.

Publicly available/
Not publicly
available

Investors Publicly available
Customers

Are you prepared to submit additional supply
chain module questions?
Yes, we submit the supply chain module
questions immediately.

Please confirm below.
I have read the terms and conditions and agree to them.

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