Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

CDP Climate Change 2023 Questionnaire
C0 Introduction
C0.1(C0.1) Give a general description and introduction to your organization.
The Group is centered on the Obayashi Corporation, Japan's biggest construction companies,and consists of 108 subsidiaries and 27 affiliated companies, with about 1.98 trillion yen in total
sales and 15,800 employees. Since its founding by Yoshigoro Obayashi in Osaka in 1892 anduntil 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." Using
technologies and know-how, we have expanded our business activities in recent years. In
addition to our core construction business, we have ventured into new areas such as realestate development and renewable energy projects. We are committed to actively contributing
to the realization of a low-carbon society.

C0.2(C0.2) State the start and end date of the year for which you are reporting data andindicate whether you will be providing emissions data for past reporting years.
Reporting year
Start date
From: [01/04/2022]
End date
To: [31/03/2023]
Indicate if you are providing emissions data for past reporting years
No

C0.3(C0.3) Select the countries/areas in which you operate.
Australia
Bangladesh
Cambodia
Indonesia
Japan
Malaysia
MyanmarSingapore1

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Taiwan, China
Thailand
United Arab Emirates
United Kingdom of Great Britain and Northern Ireland (UK)
United States of America
Vietnam

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 climaterelated impacts on your business are being reported. Note that this option shouldalign with your chosen approach for consolidating your GHG inventory.
Financial management

C-C N0.7/C-RE0.7(C-CN0.7/C-RE0.7) Which real estate and/or construction activities does yourorganization engage in?
Construction of new buildings or extensive renovations
Please provide specifics on other real estate or construction activities
New frontier projects such as civil engineering, development projects, renewable energy, etc.

C0.8
(C0.8) Does your organization have an ISIN code or another unique identifier (e.g.,
Ticker, CUSIP, etc.)?
Indicate whether you are able to provide a unique identifier foryour organization

Provide your unique
identifier*Yes, we have an ISIN code.

JP3190000004

C1 GovernanceC1.1(C1.1) Is there board-level oversight of climate-related issues within yourorganization?
Yes
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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)Please explain

President

At the Obayashi Corporation, the Board of Directors, which comprises all directors,
oversees climate-related risks and opportunities as a priority matter for ourbusinesses. The President and CEO (hereafter "President"), who is a member ofthe Board of Directors and also serves as the Chairman of the Sustainability
Committee established under the Board of Directors, has the highest responsibility
for climate-related issues. The Obayashi Corporation major policies, measures, andorganizations that refer to climate-related issues for which the President, as thehighest-ranking officer, is responsible are as follows:・Basic Principles and Environmental Policy of the Obayashi Corporation
The Basic Principles of the Obayashi Corporation are 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 commits 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"to "fulfill our social mission."
Additionally, in the Obayashi Corporation Environmental Policy, the company's
president declares that "the Obayashi 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 ourbusinesses, and envision an ideal future society through all our business activities,
thereby contributing to building a sustainable society."
In April 2023, the Obayashi Corporation Environmental Policy was revised to the
Obayashi Group Environmental Policy.
・Obayashi Sustainability Vision 2050
Obayashi's Expert Committee, chaired by the President and composed of outside
experts and several the Obayashi Corporation executives, will study the issue andincorporate contributions to the achievement of ESG and SDGs as a managementfoundation and social issue by grasping social trends and changes in the businessenvironment surrounding the Obayashi Group. The objective in so doing is tosimultaneously pursue sustainability for the "Earth, society and people" as well asthat of the entire the Obayashi Group. For this purpose, the Obayashi Green Vision
2050, formulated in 2011, was updated to the Obayashi Sustainability Vision 2050
in June 2019. The said Vision defines our vision for 2050 and sets targets for 2040–
2050, including decarbonization, to realize the ideal state.
・Medium-Term Business Plan 2022
In March 2022, the Obayashi Group, taking into account the changing global social
landscape, market trends in its core domestic construction business, and an
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

analysis of the causes behind the unmet goals of the 2017 Medium-Term Business
Plan, formulated a new 5-year management plan titled "Obayashi Group MediumTerm Business Plan 2022," commencing in the fiscal year 2022. The new MediumTerm Business Plan focuses on three fundamental pillars: 1) strengthening anddeepening the foundation of the construction business, 2) innovation in technology
and business, and 3) expanding the business portfolio for sustainable growth.
Notably, in the area of technology and business innovation, the plan aims to create
new customer value by harnessing "Carbon Neutrality" and "Well-being (safety,
security, comfort, health)" as business opportunities. As part of the plan's
performance metrics, they have set non-financial indicators and targets related to
the E (Environment) of ESG, including "Reduction of greenhouse gas emissions"with goals like "Achieve a 46.2% reduction in CO2 emissions (scope 1, 2) by 2030
compared to 2019 levels" and "Commit to SBT and aim for Carbon Neutrality by
2050."
・The Board of Directors
The Obayashi Corporation has established a Board of Directors composed of all
directors, including the President. The Board of Directors meets approximately 15
times a year and oversees climate-related risks and opportunities. In March 2022,
they developed the 2022 Medium-Term Business Plan and set new greenhousegas emission reduction targets, which align with SBT targets and obtained SBT
certification in October 2022.
・Sustainability Committee
As of April 1, 2022, the Obayashi Corporation established a Sustainability
Committee consisting of the president as the chairman, three directors, and twooutside directors, a group of five members, as an advisory body to the board of
directors. This committee convenes at least twice a year. It engages in activities
such as identifying sustainability issues, including climate-related concerns,
reviewing response strategies, making recommendations to the board of directors,
and evaluating the implementation of the actions.

C1.1b(C1.1b) Provide further details on the board’s oversight of climate-related issues.
Frequency with
Governancewhich climatemechanisms into
related issues are which climatea scheduled
related issues areagenda item
integrated
Some meetings(planned)●Reviewing andguiding annual
budgets●Overseeing major
capital expenditures

Please explain

The following are the meetings in the Obayashi
Corporation where climate-related matters are on theagenda and which are attended by officers including thechief executive Representative Director and President
and/or the executive officer responsible for theenvironment.
・Board of Directors
The Obayashi Corporation has a "Board of Directors"
comprising all directors. The board meets 15 times a
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

●Overseeing

year and oversees climate-related risks andacquisitions, mergers, opportunities.
and divestitures
・Sustainable Committee●Reviewing
On April 1, 2022, the Obayashi Corporation establishedinnovation/R&D
a Sustainability Committee, consisting of a total of fivepriorities
members, with the President serving as the Chairman●Overseeing andand three Directors, along with two external Directors,
guiding employee
as advisory members. This committee convenes at least
incentives
twice a year to deliberate on sustainability issues,●Reviewing andincluding climate-related concerns, and provides
guiding strategy
recommendations to the Board of Directors. It also
evaluates the implementation status in the execution of●Overseeing andthese policies.
guiding thedevelopment of atransition plan
●Monitoring theimplementation of atransition plan
●Overseeing andguiding on scenario
analysis●Overseeing
corporate goal setting●Monitoring progress
toward corporate
goals●Overseeing andguiding public policy
collaboration●Overseeing value
chain engagement●Reviewing risk
management process

C1.1d(C1.1d) Does your organization have at least one board member with competence on
climate-related issues?
Board member(s)have insight into
climate-related
issuesCriteria used to assess competence of board member(s) on climaterelated issues

5Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Row1 YesThe Obayashi Corporation has been operating an environmental
management system compliant with ISO14001 since 1999,
encompassing all its branches and organizations, with a primary focus on
civil engineering and construction activities. This system includes setting
environmental goals and addressing climate-related issues such as
reducing CO2 emissions and waste. Moreover, they have enhanced theirseismic and fire-resistant technology through their long-standing
experience and expertise, offering resilient buildings and social
infrastructure that can withstand disasters. Since 2011, they have also
ventured into renewable energy business, contributing to the creation ofa low-carbon society by supplying green energy.
When selecting directors, our company evaluates their rich experienceand expertise in corporate management and within our business sectors
as one of the criteria. The extensive experience in our civil engineeringand construction, as well as the renewable energy sector, is consideredsufficient in assessing the directors' capacity to address climate-related
issues.
The President, who has held the position of Business Innovation
Department Head since 2011 and Technology Business Creation
Division Head since 2014, possesses substantial experience inaddressing climate-related issues, particularly in promoting renewableenergy business. With this background, the President leads both theBoard of Directors (oversight of climate-related risks and opportunities)
and the Sustainability Committee (evaluation of sustainability issue
response strategies, recommendations to the Board of Directors, andmonitoring of implementation).

C1.2(C1.2) Provide the highest management-level position(s) or committee(s) withresponsibility for climate-related issues.
President
Responsibility for Climate-Related Matters
Managing annual budgets for climate mitigation activities
Capital expenditures and operational expenses related to low-carbon products/services(including research and development)
Overseeing climate-related acquisitions, mergers, and divestitures
Providing incentives to employees associated with climate issues
Developing climate transition plans
Executing climate transition plans
Integrating climate-related issues into business strategies
Implementing climate-related scenario analysis
Establishing corporate climate goals

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Monitoring the progress of corporate climate goals
Managing public policy collaborations that may impact the climate
Managing value chain collaborations related to climate issues
Evaluating climate-related risks and opportunities
Managing climate-related risks and opportunities
Areas of Responsibility
Reporting line
Direct reporting to the Board of Directors
Frequency of reporting climate-related issues to the Board of Directors through thisreporting line
More frequently than quarterly
Explanation
The President has the highest responsibility for climate-related issues in the Obayashi
Corporation.
The organizations related to climate-related issues in which the President is involved and theirroles and responsibilities are as follows
・Members of the Board of Directors
The Obayashi Corporation has established a board of directors composed of all directors,
including the president. The board of directors meets approximately 15 times yearly andoversees climate-related risks and opportunities.
・Chairperson of the Sustainability Committee
As of April 1, 2022, the Obayashi Corporation established a Sustainability Committee consistingof the president as the chairman, three directors, and two outside directors, a group of fivemembers, as an advisory body to the board of directors. This committee convenes at least twicea year. It engages in activities such as identifying sustainability issues, including climate-related
concerns, reviewing response strategies, making recommendations to the board of directors, andevaluating the implementation of the actions.
・Chairperson of the Management Meeting
At the Obayashi Corporation, a 'Management Meeting' has been established to ensure detailed
and prompt decision-making. This meeting is chaired by the President and consists of 11
members selected from the Board of Directors and executive officers. The 'Management
Meeting' convenes approximately 30 times a year and addresses important matters related tosustainability issues, including climate-related concerns, through reporting, deliberation,
instructions, and resolutions.
Additionally, as a subsidiary body of the 'Management Meeting,' the 'Management Planning
Committee' has been established. Furthermore, several specialized committees have been set
up under this committee to promote specific initiatives related to sustainability matters, such as
the 'Environmental Management Specialized Committee.'7

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

The 'Management Planning Committee,' chaired by the executive officer responsible formanagement planning, convenes at least 12 times a year. It formulates execution policies andconducts monitoring and reviews of the progress regarding sustainability issues, including
climate-related matters.
Furthermore, the 'Environmental Management Specialized Committee,' chaired by the executive
officer responsible for environmental management, holds meetings at least twice a year. It
focuses on formulating strategies and policies related to environmental management, aligningwith the Obayashi Corporation's environmental management system. This includes reviewing
and promoting measures and implementation plans based on collected environmental data,setting goals, and monitoring and reviewing the progress and achievements.
The results of monitoring, such as CO2 emissions based on the reports and information
presented in the 'Environmental Management Specialized Committee,' are reported in the'Management Planning Committee' and the 'Management Meeting.

C1.3(C1.3) Do you provide incentives for the management of climate-related issues,
including the attainment of targets?
Provide incentives forthe management ofclimate-related issues
Row1 Yes

Comment

The Obayashi Corporation offers incentives to manage climaterelated issues. These incentives are available to all employees
and the executive officer responsible for the environment.
The Obayashi Corporation offers incentives to the President,
internal directors, executive officers, including the officer
responsible for environmental matters, and all employees for theircontributions to climate-related issue management.

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 to incentive
Director
Type of incentive
Monetary reward
Incentive
Stock
Performance indicators
KPIs for the Climate Transition Plan

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Associated Incentive Plan
Long-Term Incentive Plan
Additional Information about Incentives
The internal directors, including the President, are granted performance-linked stock rewards aimed
at enhancing their commitment to improving medium to long-term performance and increasing
corporate value and shareholder value. These rewards vary based on their respective responsibilities
and the achievement of predefined performance indicators. Among these rewards, the 'Medium toLong-term Performance-Linked Stock Rewards,' awarded based on the achievement of medium tolong-term performance indicators, are also linked to corporate performance related to sustainability
indicators.
Please explain how incentives contribute to your commitment to climate and/or the executionof climate transition plans.
By adopting a 'medium to long-term performance-linked stock compensation' tied to climate-related
sustainability indicators and corporate performance, it enhances the awareness of the internal
directors, including the President, contributing to the improvement of medium to long-term
performance and the increase in corporate value and shareholder value.
------------------------------------------------------------------------------------------------------------------------------ --------Entitled to incentive
Other Executive Officers
Type of incentive
Monetary reward
Incentive
Stock
Performance indicators
KPIs for the Climate Transition Plan
Associated Incentive Plan
Short-Term Incentive Plan
Additional Information about Incentives
Executive officers, including the Chief Environmental Officer, are granted performance-linked stock
rewards aimed at enhancing their commitment to improving medium to long-term performance andincreasing corporate value and shareholder value. These rewards vary based on their respective
responsibilities and the achievement of predefined performance indicators. Among these rewards, the'Medium to Long-term Performance-Linked Stock Rewards,' awarded based on the achievement of
medium to long-term performance indicators, are also linked to corporate performance related tosustainability indicators.
Provide further details on the incentives offered for the management of climate-related issues.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

By adopting a 'medium to long-term performance-linked stock compensation' tied to climate-related
sustainability indicators and corporate performance, it enhances the awareness of the Executive
officers, including the Chief Environmental Officer contributing to the improvement of medium to longterm performance and the increase in corporate value and shareholder value.
------------------------------------------------------------------------------------------------------------------------------ --------Entitled to incentive
All employeesType of incentive
Monetary reward
Incentive
Bonus - % of salary
Performance indicator
Implementation of emissions reduction initiatives
Reduction of total energy consumption
Associated Incentive Plan
Short-Term Incentive Plan
Additional Information about Incentives
The Obayashi Group has an "environmental award" system that acknowledges exceptional
accomplishments and exemplary initiatives within three key environmental categories: low carbon,
circular economy, and coexistence with nature. The "environmental award" evaluation criteria
encompass environmental impacts, such as reductions in greenhouse gas emissions andenhancements in energy efficiency. The awardee is presented with a certificate, prize money, or item.
Provide further details on the incentives offered for the management of climate-related issues.
The "environmental award" system enhances awareness of the Obayashi Group environmental
initiatives and, as a result, contributes to the Obayashi Group efforts and actions related to climatechange and climate change mitigation.
------------------------------------------------------------------------------------------------------------------- -------------------Entitled to incentive
All employeesType of incentive
Monetary reward
Incentive
Salary increase
Performance indicator
Implementation of emissions reduction initiatives
Reduction of total energy consumption

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Associated Incentive Plan
Short-Term Incentive Plan
Additional Information about Incentives
One of the evaluation criteria in the personnel performance assessment is the 'Execution ofEnvironmentally Friendly Tasks,' and there is a mechanism where employees' efforts are reflected intheir bonuses and salaries. 'Environmentally Friendly Tasks' include activities related to reducing CO2
emissions in the design and construction phases, which are environmental objectives in the Obayashi
Corporation's EMS.
Provide further details on the incentives offered for the management of climate-related issues.
The performance evaluation criteria in personnel assessments include the 'Execution ofEnvironmentally Friendly Tasks,' which, when reflected in bonuses and salaries, enhances awarenessamong the Obayashi Corporation employees of environmentally friendly tasks. As a result, thiscontributes to the Obayashi Corporation's efforts related to climate issues and the promotion ofclimate change mitigation measures.

C2 Risks and opportunities
C2.1(C2.1) Does your organization have a process for identifying, assessing, andresponding 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

330Comment

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 Group's Basic
Principles, business activities, and business strategy. Rising construction costs in our
11Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

construction 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 93.8 billion yen as of March 2023, 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
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 Group employs a comprehensive and company-wide approach toidentify, assess, and manage climate-related issues, as part of its overall risk andopportunity management processes.
Within the Obayashi Group, specialized committees in various sustainability fields,
established under the "Management Planning Committee" commissioned by the
President, work under the guidance of the President. They are responsible forformulating specific strategies, promoting initiatives, and monitoring theirimplementation, with a structure for consultation with the "Board of Directors." These
specialized committees operate under the short-term (0 to 1 year), medium-term (1 to 3
years), and long-term (3 to 30 years) perspectives, examining the impact on the entire
group and the entire value chain, including suppliers and customers, as well as
determining the materiality the company should address. They identify and assess
risks and opportunities from a comprehensive standpoint. Environmental risks andopportunities, including climate-related issues, are managed by the "Environmental
Management Committee," one of the specialized committees.
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

For risks and opportunities extending from the short-term to the medium and long term,
affecting the entire group and the entire value chain, the ESG specialist department
extracts 22 "ESG issues" from 300 issues related to ESG fields. These issues areevaluated based on the stakeholders' interest and the two axes of significance andimpact on the Obayashi Group's business strategy and financial aspects. Theyprioritize the issues, taking into consideration alignment with the Obayashi Group's
fundamental principles and business strategies. One of the ESG materialities identified
is "Building a Society with Environmental Consideration." The "Management Planning
Committee" annually incorporates ESG issue (materiality) action plans and KPIs (keyperformance indicators), including those related to climate-related risks andopportunities, into the management plan for addressing challenges. The ESG specialist
department conducts bi-annual performance reviews and annual detailed analyses
based on each department's achievement of numerical targets. The "Management
Planning Committee" establishes and reviews the execution policy and progress forsustainability issues, including climate-related problems, based on these results.
[Processes for identifying and evaluating climate-related risks and opportunities]
Regarding the methods for identifying and evaluating climate-related risks andopportunities, similar to the risks and opportunities across the entire value chain
mentioned above, the Obayashi Group identifies and assesses the materiality of risks
and opportunities based on definitions and indicators that have a significant impact. It
then proceeds to implement risk response measures and prioritize them.
The assessment criteria include the severity of the impact if they occur, the likelihoodof events occurring in the short, medium, and long term (frequency of occurrence), theimpact on consolidated operating profit as defined for significant financial impact, andqualitative evaluations of importance and impact, such as alignment with the Obayashi
Group's fundamental principles, business activities, and business strategies. These
serve as the criteria for judging importance and impact.
For long-term risks and opportunities extending beyond three years up to 2050,"Obayashi Sustainability Vision 2050," revised and announced on June 24, 2019,
captures various societal trends and changes in the business environment surrounding
the Obayashi Group. It involves a review conducted by top management and external
experts. Furthermore, an examination of the necessity for setting goals for the years
2040 to 2050 and a review of the Vision are carried out for the intermediate target
years 2030 and 2040. In addition, in accordance with the recommendations of the
TCFD, scenario analysis was performed for the four major domestic businesses for theyear 2030. This was to understand the medium to long-term impact of climate-related
issues on the business and to identify and assess risks and opportunities.
[Processes for responding to climate-related risks and opportunities]<Climate-Related Risk and Opportunity Response Process>In terms of addressing climate-related risks and opportunities, the prioritization andresponse are conducted in accordance with the results of the <Climate-Related Risk
and Opportunity Identification and Assessment Process> mentioned above. For
identified risks and opportunities that require action, priority is set and responses are
implemented as follows. Furthermore, these are incorporated, considering the financial
impact, into the medium-term business plans developed every 3 to 5 years.Each
responding department individually formulates a detailed action plan based on thedetermined response measures. These response measures are translated into specific

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

initiatives, and progress reports, along with action plans and KPIs, are presented atmeetings held at least once a year during the "Management Planning Committee."・For issues where the importance, impact, and response status within the Obayashi
Group are high, and stakeholder interest and the response status of other companies
are also high:<Risk> Addressed through control measures. <Opportunity> Prioritized to enhancecompetitiveness and addressed.
・For issues where the importance, impact, and response status within the Obayashi
Group are high, but stakeholder interest and the response status of other companies arelow:<Risk> Addressed through mitigation measures. <Opportunity> Measures are taken
to highlight significance and communicate importance.
・For issues where the importance, impact, and response status within the Obayashi
Group are low, but stakeholder interest and the response status of other companies arehigh:<Risk> Addressed through transfer measures. <Opportunity> Measures andinitiatives are developed and implemented in response.
・For issues where the importance, impact, and response status within the Obayashi
Group are low, and stakeholder interest and the response status of other companies arealso low:<Risk> Addressed through acceptance measures. <Opportunity> Continual
monitoring of trends and identification of opportunities are conducted in response.

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

Current
regulation

Relevant,
alwaysincludedSince approximately 50% of the Obayashi Corporation's construction
project orders (design and construction ratio for the 2022 fiscal year:
51%) are design and construction projects, the expansion of current
regulations (such as the Building Energy Efficiency Law) and theincrease in regulatory standards pose a short-term risk. These
regulations could lead to the loss of opportunities for design andconstruction projects if the Obayashi Group's energy-efficient design
technology level decreases due to a lack of accumulated know-how
through new technology development, reducing the ability to propose
solutions. These short-term risks are considered to be relevant and arecontinually included in the company's risk assessment. The company's
Environmental Affairs Division identifies such risks every six months
and reflects them through reviews of environmental management focus
measures and adjustments to target levels during biannual meetings ofthe Environmental Management Specialist Committee. The revised
Building Energy Efficiency Law, which took effect in April 2021,
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

expanded the scope of "energy-saving standards complianceobligations" from large buildings over 2,000 square meters to mediumsized buildings over 300 square meters. Furthermore, a legal
amendment in June 2022 mandated "energy-saving complianceobligations" for all new residential and non-residential buildings within
three years. If the Obayashi Group does not develop and expand new
low-CO2 emission construction and services, opportunities for contract
awards using the design and construction method, which utilizes the
Obayashi Group technical and management capabilities contributing to
CO2 emission reductions, may decrease, ultimately affecting sales andrevenue. Additionally, various issues such as inadequate energyefficient design technology, delays in new technology development, anda lack of accumulated know-how or a decrease in the ability to propose
solutions may lead to the loss of opportunities for design andconstruction projects at the Obayashi Group.
Emerging
regulation

Relevant,
alwaysincluded

New regulations, such as the introduction of a comprehensive "carbon
tax" in Japan, are recognized as a medium-term risk due to the fact that
the Obayashi Group's Scope 1 emissions are particularly large. This isbecause the transfer of costs to raw materials and other factors could
lead to an increase in construction costs. These risks are considered
relevant and are consistently included. To address these concerns, theObayashi Group conducts detailed analyses approximately every three
years, in line with the new greenhouse gas reduction targets set in
March 2022 (2030 target). Every three to five years, during theformulation of the medium-term business plan, the Obayashi Groupreassesses its understanding of the business environment and revises
its strategic management plans and the seven initiatives (action plans)for CO2 emissions reduction. There is a risk that the introduction of
future "carbon taxes" and similar measures may result in increased
construction costs for raw materials, potentially affecting sales andrevenue.

Technology

Relevant,
alwaysincludedTechnological influences, such as developments in new technologies
related to renewable energy, and advancements in Zero Energy
Building (ZEB) design, may lead to increased competition from newmarket entrants and heightened technological competition. This canresult from the Japanese government's infrastructure development
policies for renewable energy sources like solar power, offshore wind
power, geothermal energy, biomass, and hydrogen, as well as thedevelopment of low-cost and high-performance ZEB technologies.
These factors may lead to the obsolescence of the Obayashi Group
existing technologies, ultimately diminishing its overall competitivenessin the contracting industry. Therefore, this is recognized as a mediumterm risk with a timeframe of 1 to 3 years, and it is considered relevant
and consistently included in our assessments. To address theseconcerns, the Obayashi Group conducts detailed analyses
approximately every three years, in line with the new greenhouse gas
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

reduction targets set in March 2022 (2030 target). Every three to five
years, during the formulation of the medium-term business plan, theObayashi Group reassesses its understanding of the businessenvironment and revises its strategic management plans and the seveninitiatives (action plans) for CO2 emissions reduction. There is a riskthat changing technology trends could lead to the erosion of the
Obayashi Group competitive advantage in terms of its technologicalcapabilities in the contracting industry.
Legal

Relevant,
alwaysincludedWith regard to legal risk, in the event that a construction project
constructed by the Obayashi Group does not meet the performancerequirements for their buildings and the client’s equipment, the company
may be sued for breach of contract in the medium to long term,
regardless of whether it is the fault of the Obayashi Group, and there isa risk of litigation over who is to blame and the percentage of
responsibility. In addition, we recognize that the risk of climate changerelated lawsuits is increasing. Clients and customers are likely toincreasingly demand compliance with CO2 emission reductions at theconstruction stage as well as performance guarantees for energycreating and energy-saving equipment and devices that are expected toreduce CO2 emissions during the operation of the building as acondition for ordering new construction and renovation work. We
recognize these litigation risks as medium- and long-term risks that are
relevant and always included.

MarketRelevant,
alwaysincluded

The background to market risk lies in Japan's government's Green
Growth Strategy aimed at achieving carbon neutrality by 2050. As
outlined in the roadmap, the strategy includes achieving "average
ZEH/ZEB realization in new homes and buildings by 2030," which has
increased the market demand for building ZEB (Zero Energy Building)technology. On the other hand, facilities that enhance environmental
performance, such as ZEB technology, have the potential tosignificantly increase construction costs. Therefore, there is an urgent
need for technology development to enhance performance while
reducing costs. the Obayashi Group perceives the expansion of theneed for "energy-efficient and renewable energy technologies" as abusiness opportunity based on scenario analysis in line with TCFD
recommendations. To realize performance and comfort in its projects,
the group is promoting the development and practical application of
ZEB technology and other innovations. The construction market,
including environmental technology, is expected to face toughcompetition and price competition in the medium to long term.
Consequently, market risk related to climate change is considered aconstant and highly relevant medium to long-term risk.In the previous
fiscal year, the Obayashi Group invested approximately 15.3 billion yen
in research and development costs, including ZEB technology. Whilecustomers demand high-quality, high-performance, and cost-effective
buildings, there is a risk that if competitors propose lower-cost ZEB

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

solutions, the increased development costs might not be recovered, andrevenue may not increase. Additionally, intensified price competition
could pose a risk, as even high-value buildings might not lead toincreased profits.
Relevant,
alwaysincluded

Reputation risk includes external evaluations of climate change
initiatives, such as CDP assessments, evaluations of efforts related to
ESG practices, and assessments of climate-related information
disclosure in accordance with TCFD recommendations. For certain
environmental policies, there is a risk that a decrease in external
evaluations may lead to increased financing costs. This risk is alreadyemerging and is considered relevant and consistently included in ourassessments. To address these concerns, the Environmental Division
identifies them every six months and revisits the focus of environmental
management in biannual meetings of the Environmental Management
Committee. The outcomes of these discussions are reported to theManagement Planning Committee and the Executive Committee, which
are the highest decision-making bodies regarding the execution ofenvironmental policies. For instance, a potential increase in financing
costs due to a decline in external evaluations is included in theassessment because of its relevance.

Relevant,
Acutephysical risk always
included

Acute physical risks, such as an increase in severe weather events liketyphoons, pose a short-term risk that is already emerging due to thepotential impact on the Obayashi Group's business locations andconstruction sites across Japan. These risks have the potential to causedelays in project schedules. As such, they are considered relevant andconsistently included in our assessments. The ESG Division identifies
these risks every six months and reports them to the Management
Planning Committee and the Executive Committee, the highest
decision-making bodies responsible for risk management. The
decisions made are reflected in the revision of risk management focus
areas. The increase in 'severe weather events like typhoons' is apotential cause of project delays, particularly in western Japan, where
the Obayashi Group has many important clients. In recent years, it has
also become a nationwide concern.

Relevant,
Chronic
physical risk always
included

Chronic physical impacts, such as an increase in 'high-temperaturedays,' already pose a short-term risk as they create harsh working
conditions for employees and skilled laborers on construction sites. The
deterioration of working conditions can lead to decreased work
efficiency and increased labor costs. As such, they are considered
relevant and consistently included in our assessments. the Obayashi
Group's Safety Division reports data on heatstroke incidents monitored
monthly, and the Environmental Division compiles environmental data
every six months for reporting. These concerns are reflected in therevision of environmental management focus areas during thesemiannual meetings of the Environmental Management Committee.

Reputation17

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

The discussion points are also reported to the Management Planning
Committee and the Executive Committee, which are the highest
decision-making bodies responsible for the execution of environmental
policies. The worsening working conditions leading to decreased work
efficiency and increased labor costs are included in our evaluation due
to their relevanceC2.3(C2.3) Have you identified any inherent climate-related risks with the potential to havea substantive 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 physical risk
Changing Temperatures (Atmosphere, Freshwater, and Seawater)

Primary potential financial impact
Decreased revenues due to reduced production capacity

Company- specific description
The working environment in the construction industry often involves high temperaturesdue to factors such as direct sunlight outdoors, lack of air conditioning, poorly ventilated
enclosed spaces, and heat generation from materials and machinery. the Obayashi
Corporation, with a strong presence in western Japan, especially in Osaka where it was
founded, conducts a significant portion of its construction projects in the west of the
Kanto region, which accounted for over 80% of heatstroke incidents in the 2022 fiscal
year. These regions also represent over 80% of the domestic construction revenue inthe same year. The deterioration of working conditions due to rising temperatures canlead to an increase in heatstroke incidents on construction sites. This, in turn, results indecreased work efficiency, more absentee workers, and an increased risk of accidents.
Consequently, there is a risk of reduced productivity on construction sites in the west of
the Kanto region. In the 2022 fiscal year, within the Obayashi Group, the Obayashi
Corporation reported 237 heatstroke incidents (152 in the 2021 fiscal year), with 19
cases of workers needing more than one day off (18 in the 2021 fiscal year). With the18

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

increase in temperatures causing the Wet Bulb Globe Temperature (WBGT) index to
exceed safety thresholds, mandatory work interruptions become necessary for a certain
duration. This has a financial impact, resulting in a productivity decrease of 15.95 million
yen per site, which is considered a strategically significant risk factor, given the definitionof substantial financial impact..

Time horizon
Medium-term

Likelihood
Very likely

Magnitude of impact
Moderate

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
If the WGBT (Wet Bulb Globe Temperature) value exceeds the standard threshold on aconstruction site due to rising temperatures, resulting in an increased risk of heatstroke
incidents, it necessitates a temporary work interruption. This has a financial impact,
leading to a reduction in site productivity.
Number of heatstroke cases in our company in 2013, the largest number in recent years(277 cases) x 2 days (assumed to be the number of lost workdays per case) x amountequivalent to daily allowance (24,000 yen) = 13,296,000 yen
The number of days of absence from work per case is assumed to be 2 days (estimatedbased on the Obayashi Corporation's table of heat-related accidents in FY2021).
The amount equivalent to daily wages is assumed to be 24,000 yen (estimated from the2022 unit labour cost for public works design).
It is assumed that there will be a 20% increase in the number of occurrences due torising temperatures caused by global warming (estimated from "Climate Change
Observation, Prediction and Impact Assessment Integrated Report 2018: Climate
Change in Japan and its Impacts" by the Ministry of the Environment, Ministry of
Education, Culture, Sports, Science and Technology, Ministry of Agriculture, Forestry
and Fisheries, Ministry of Land, Infrastructure and Transport, and Japan Meteorological
Agency).
13,296,000 yen × 0.2 = 2,659,200 yen
Increased cost due to workers' absence from work due to heatstroke: 13,296,000 yen +2,659,200 yen = 15,955,200 yen

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Cost of response to risk
1,274,000,000

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 the
Obayashi Group's internal rules.
2. Appropriately implement and use the Obayashi Group's Occupational Health and
Safety Management System.
3. Help improve the independent health and safety management efforts of suppliers.
Under this policy, the President, as the overall responsible person, annually formulates
the Central Safety and Health Action Guidelines and establishes priority measures.
Each store, based on this, creates its own "Safety and Health Action Guidelines" andimplements specific measures. In the "Heatstroke Prevention Measures" as outlinedin the Central Safety and Health Action Guidelines, a thorough monitoring of the WBGT
(Wet Bulb Globe Temperature) value is emphasized on each individual construction
site. The measured values are communicated to the workers to raise awareness aboutheatstroke. Additionally, if the values exceed the specified threshold or there is alikelihood of exceeding it, measures to ensure adequate ventilation, modification ofwork tasks, and changes in work locations are implemented as part of preventive
measures. This is in compliance with the "Basic Guidelines for Preventing Heatstrokein the Workplace" by the Ministry of Health, Labour and Welfare.
（ Challenges ） Conventional heatstroke countermeasures have been limited toalerting people to use the WBGT (heat index) as an indicator and encouraging themto drink water, take salt, and take breaks. However, the onset of heatstroke varies fromperson to person and depends on the work’s nature and location. The challenge has
been to comprehensively assess these factors and communicate the dangers
individually. It was also hoped that one of the solutions would be to monitor the physicalcondition of each worker, such as the heart rate of each worker.
（ Actions ） The Obayashi Group, in collaboration with NTT Communications in
February 2015, developed workwear using the functional material "hitoe." This enabled
the real-time acquisition of vital data, such as the heart rate of workers on actual
construction sites when wearing this attire. In June 2015, they also developed a systemcalled "Heat Index Watcher" that continuously measured the WBGT values (heatstress index) at multiple locations within the construction site and centralized theinformation in the construction office. By monitoring the measured WBGT values andthe heart rates of workers, they conducted verification to predict the risk of heatstroke
before it occurred, aiming to reduce the risk.
Starting from the fiscal year 2019, they began full-scale implementation of the "HeatIndex Watcher," and in the fiscal year 2022, it was introduced to approximately 200
construction and civil engineering sites in operation throughout Japan. They view thisas part of their actions based on the medium-term management plan for 2022, with agoal extending until the fiscal year 2026.
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

（ Results ） In July 2019, the "Envital" system, which manages the health of
construction site workers and environmental conditions at work locations, wasrevamped to enhance worker safety management. The system underwent several
improvements, including a shift from the conventional shirt-type vital sensors towristband-type heart rate sensors. The management features were also enhanced,
incorporating location data acquisition and the addition of emergency alert functionality,
significantly improving convenience and effectiveness. In the fiscal year 2021, the"direct" messenger app was enhanced to allow external stakeholders, including
cooperating companies, to receive direct alerts from the Heat Index Watcher system.
As a result, in the fiscal year 2022, despite a 0.91°C increase in average summer
temperatures compared to the historical average and an 85-case rise in mild cases ofheatstroke, they managed to keep the increase in severe heatstroke cases with morethan one day of work absence limited to just one case. Starting from the fiscal year
2022, the group company Oak Information Systems added optional features to theHeat Index Watcher, enabling the measurement of environmental parameters such as
CO2 levels and wind speed. This led to the development of the "SISMIL" monitoring
cloud system, which can be utilized in various locations and seasons beyond
construction sites. Already, it has been introduced to approximately 1,000 locations.
The management costs are included in the 2022 fiscal year environmental accounting,comprising indirect costs related to research and development, approximately 1,100
million yen, surveillance and measurement costs of 168 million yen, and environmental
damage response provisions and insurance costs of 6 million yen, totaling 1,274 million
yen (1,274 million yen).
.

Comment

ID
Risk 2

Where in the value chain does the risk driver occur?
Direct operations
Risk type and Primary climate-related risk driver
Acute physical risk
Storms (including blizzards, dust storms, sandstorms)

Primary potential financial impact
Increased direct costs

Company- specific description
In the construction business, which is a major operation of the Obayashi Group,
sudden typhoons and floods pose significant risks. These risks include landslides on
construction sites, occurrences of water and flooding in underground construction sites,
damage to structures, infrastructure, materials, and construction equipment, and thepotential for project delays.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Between 2017 and 2018, large-scale typhoons occurred in Southeast Asia and various
parts of Japan, causing damage at both domestic and international locations. The
location with the highest total damage was in the Kansai region of Japan. In December
2020, the Obayashi Group participated as a contractor in the ongoing "Umeda Kita 2nd
District Redevelopment Project" in Osaka, which began construction in 2022. The risk
impact in the event of typhoon damage is substantial, especially if sudden typhoons or
floods occur as physical risks, leading to extended repair costs for storm damage andadditional labor costs to recover from potential project delays. This could result in afinancial impact of 2,799.6 million yen. This risk factor qualifies as one with a financiallysignificant impact when assessed for specific evaluation under the definition ofsignificant financial impact.

Time horizon
Short-term

Likelihood
LikelyMagnitude of impact
MediumAre you able to provide a potential financial impact figure?
Yes, a single figure estimate

Potential financial impact figure (currency)
2,799,600,000
Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
In the event of sudden typhoons or floods, which are physical risks, if their severity
increases, there may be a financial impact due to the need for repair costs for storm damage
and additional labor costs to recover from project delays. As damage repair costs and project
delay recovery costs, these would be as follows:
For the Obayashi Corporation's domestic civil engineering revenue in fiscal year 2022:
3,434 billion yen x 0.2% = 686,800,000 yen (686.8 million yen).
For the Obayashi Corporation's domestic construction revenue in fiscal year 2022: 10,564
billion yen x 0.2% = 2,112,800,000 yen (2,112.8 million yen).
The calculation uses 0.2% to represent the extent of the impact that large-scale natural
disasters have on GDP in advanced countries (source: Tokyo Marine & Nichido Global
Warming Seminar, "The Role of Finance and Insurance in Climate Change," November 18,2008).

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

So, the total for civil engineering damage repair costs and project delay recovery costs is686.8 million yen + 2,112.8 million yen = 2,799,600,000 yen (2,799.6 million yen).

Cost of response to risk
174,000,000

Description of response and explanation of cost calculation(Situation, challenges) In the event of the occurrence of physical risks such as sudden
typhoons or floods, and if their severity increases, there may be a financial impact due
to the need for repair costs for damage caused by severe storms or additional laborcosts to recover from project delays resulting from delayed timelines.
(Actions) The Obayashi Group has adopted risk management measures at construction
sites through three methods: ① prediction and prevention, ② damage avoidance andminimization, and ③ risk transfer, aiming to reduce risks. These measures are regarded
as part of the actions based on their medium-to-long-term business plan until fiscal year
2026.
① Prediction and Prevention (During Normal Times):
For each region and branch, typhoon response headquarters are organized to obtain
detailed information from the Japan Meteorological Agency and private data companies
regarding typhoons, explosive low-pressure systems, and other weather-related events.
For example, when Typhoon No. 14 occurred near the Ogasawara Islands on
September 14, 2022, and approached western Japan, the disaster response
headquarters received typhoon reports from private data companies from the initialreport to subsequent reports. Various risk scenarios were considered based on theproximity and severity of the typhoon, and standby personnel and support teams were
designated according to each scenario.
② Damage Avoidance and Minimization (During Typhoon Approach and Aftermath):
On September 16, 2022, at the Kyushu branch's construction site, measures were taken
based on predefined checklists to prevent equipment and material scattering. Under the
direction of the Kyushu branch's construction department, actions were taken at theconstruction site based on the aforementioned scenarios, including personnel standby
measures. In the event of damage occurring on completed or under-construction
properties, the damage situation was reported to the headquarters following designatedprocedures. Support for properties requiring equipment, materials, or personnel wasprovided by the designated support teams. After the passage of typhoons and similar
events, information regarding the presence of damage and customer-related information
was collected and consolidated following established procedures.
③ Risk Transfer:
In standard construction contracts, the fundamental responsibility for significant losses
related to natural disasters and geological events rests with the customer (the ordering
party). However, supplementary coverage is provided through construction insurance
and other insurance arrangements secured by the company, which serves tocomplement the risk transfer and reduction efforts.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

(Results) The physical risk posed by Typhoon No. 14 was addressed through risk
management measures of ① prediction and prevention, ② damage avoidance andminimization, and ③ risk transfer, resulting in risk reduction and transfer.
The management costs, included in the 2022 fiscal year environmental accounting,amount to 174 million yen, consisting of "surveillance and measurement costs" at 168
million yen and "environmental damage response provisions and insurance costs" at 6
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
In the 2022 fiscal year, the Obayashi Group, which is the second-largest construction
company group in Japan in terms of revenue scale, with construction operations
accounting for approximately 93% of consolidated revenue. In the construction sector,
the group excels in complex construction projects, such as high-rise buildings and deep
underground tunnels, making use of advanced technical expertise. These construction
sites consume a significant amount of energy during construction. In the 2022 fiscal
year, the Obayashi Corporation used approximately 48,000 kiloliters of light oil for
construction machinery operation and approximately 96,000 MWh of electricity for
welding work on reinforcing steel and structural steel, on-site lighting equipment, and theoperation of electric construction machinery. The energy consumption across all thegroup's operations amounts to 284,000 tons of CO2 emissions in Scope 1 and 46,000
tons in Scope 2, with Scope 1 accounting for approximately 86%. Additionally, major
construction materials like steel and cement consume a substantial amount of energy
during manufacturing, leading to CO2 emissions of approximately 1.78 million tons in
Scope 3, Category 1, for materials procured by the Obayashi Group in the 2022 fiscal
year. While there are no definite tax rules for carbon emissions within the Scope andCategories, if a carbon tax were to be imposed, it is anticipated that increased energy
procurement and material procurement costs would directly result in increased
construction costs. This poses a risk in the construction market, as the ability to pass onthese cost increases to clients could impact business performance. As part of thetransition risk within the Obayashi Group's supply chain, the introduction of a carbon tax
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

could lead to increased energy costs and a carbon tax surcharge on major materials,
resulting in an increase of approximately 2.11 billion yen in construction costs. Thisfactor qualifies as a risk that would have a financially significant impact when assessed
under the definition of significant financial impact.

Time horizon
Medium-term

Likelihood
LikelyMagnitude of impact
MediumAre you able to provide a potential financial impact figure?
Yes, a single figure estimate

Potential financial impact figure (currency)
2,110,000,000
Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
As a transition risk in the supply chain, there is a potential increase in construction costs
due to the introduction of a carbon tax, leading to a rise in energy costs and a carbon
tax surcharge on major materials. The CO2 emissions during the production of key
materials used by the Obayashi Group in the 2022 fiscal year, such as steel andcement, amounted to approximately 1.78 million tons of CO2. If the increased
construction costs cannot be passed on as part of the raw material costs, it could resultin a decrease in construction profit and affect revenue.
The CO2 emissions from the Obayashi Group's energy consumption during construction
amounted to around 330,000 tons of CO2, which, when subjected to an additional
global warming countermeasure tax of 1,000 yen per ton of CO2, equals 330,000,000
yen (330 million yen). Additionally, the CO2 emissions during the production of steel andcement used by the Obayashi Group in the 2022 fiscal year, approximately 1.78 million
tons of CO2, would be subject to a surcharge of 1,000 yen per ton of CO2, totaling
1,780,000,000 yen (1.78 billion yen). The carbon tax, which is an additional charge,
would amount to 2,110,000,000 yen (2.11 billion yen) in total, calculated by adding 330
million yen to 1.78 billion yen.

Cost of response to risk
5,787,000,000

Description of response and explanation of cost calculation(Situation) The Obayashi Group, with its core in the construction industry, has

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

undertaken activities to reduce CO2 emissions that it can directly implement throughits decision-making, such as the low-carbon transformation of its own facilities andlow-carbon construction methods.
（Challenges）The Obayashi Corporation has, traditionally, aimed to reduce CO2
emissions by 85% by 2050 compared to the levels in 2013, through therationalization of construction practices leading to energy reduction andimprovements in productivity, as well as innovative solutions at construction sites. In
March 2022, the Obayashi Group established new greenhouse gas emission
reduction targets for 2030 as part of its commitment to the Science Based Targets
initiative (SBT) in alignment with the Paris Agreement. These targets include a 46.2%
reduction in SCOPE 1 and 2 emissions compared to the 2019 fiscal year and a
27.5% reduction in SCOPE 3 emissions compared to the 2019 fiscal year. In October
2022, the company obtained certification for these reduction targets.
(Actions) For instance, as an example of technology development contributing to
improved productivity, the Obayashi Group has developed the world's first "EnergySaving Shield Method" in tunnel construction using large-section shield machines.
This method allows for high-speed construction while reducing electricity
consumption. It has achieved approximately a 25% increase in excavation speed anda 30% reduction in electricity consumption compared to conventional methods.In
addition to this, the company has set goals for reducing CO2 emissions through theintroduction of LED lighting for temporary site facilities, the adoption of high-efficiency
construction machinery, and fuel-efficient operation training. These strategies for
reducing CO2 emissions are implemented to mitigate the risk of construction cost
increases resulting from changes in input prices.These efforts are aligned with the
Obayashi Group's medium-term management plan for the period up to the 2026
fiscal year.
（Results）In the fiscal year 2022, the company achieved a 12.6% reduction
compared to the target set for the fiscal year 2019. The management costs, asreported in the environmental accounting of the Obayashi Corporation for the fiscal
year 2022, include research and development expenses related to the design stage
amounting to 4,687 million yen and indirect expenses related to research anddevelopment of 1,100 million yen, totaling 5,787,000,000 yen (5,787 million yen).

Comment

C2.4(C2.4) Have you identified any climate-related opportunities with the potential to havea substantive 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.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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
The Obayashi Group formulated a new "Medium-term Management Plan 2022:
Strengthening Business Foundations and Implementing Transformation" on March 11,2022. One of the management challenges is to promote "innovation in technology andbusiness to turn social issues into new business opportunities." The company aims toleverage its strengths to address societal challenges like "carbon neutrality" by creating
new customer value, providing solutions, and acquiring technology. This involves
various initiatives such as achieving zero-energy buildings (ZEB), energy-efficient new
construction of buildings, improved facility efficiency, and enhanced building insulation
performance. They are also actively pursuing simulations with software like "EcoNavi" todetermine the most effective energy-saving methods based on client budgets andbuilding information. In addition, the Obayashi Group provides support for "Lifecycle
Management (LCM)" solutions, focusing on optimal asset utilization, asset value
preservation and improvement, and reducing lifecycle costs. Innovative painting
methods like the "Thermal Shade Method," using high solar reflectance paints to reducesurface temperatures of buildings and thus contribute to energy efficiency, are also partof their efforts. The construction of tall wooden buildings using all above-groundstructural components (columns, beams, floors, walls) made from wood, known as "PortPlus," significantly reduces environmental impact compared to steel or reinforced
concrete structures due to CO2 reduction achieved throughout the entire lifecycle, frommaterial production to construction, demolition, and disposal. The group is also involved
in developing wooden temporary site offices and obtaining ZEB certification (netZEB).
They are exploring the use of green hydrogen for hydrogen fuel cell power generation.
the Obayashi Group recognizes that its accumulated knowledge, solution proposal
capabilities, and expertise in various energy-efficient construction techniques anddesigns have the potential to increase contracting opportunities in ZEB and energyefficient renovations. By developing and implementing CO2-low emission constructions
and services, they anticipate expanding opportunities for the group's designconstruction methods, which can leverage their technical and management capabilities,
thus increasing revenue by capturing more projects. The financial impact related to"Increased Construction and Service Revenue from Design and Construction" is27

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

estimated at 295.1 billion yen and is considered an "opportunity" according to thedefinition of significant financial impact.

Time horizon
Medium-term

Likelihood
Very likely

Magnitude of impact
High

Are you able to provide a potential financial impact figure?
Yes, a single figure estimate

Potential financial impact figure (currency)
295,102,500,000

Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
By developing and deploying low-emission construction projects and services, theObayashi Group anticipates expanding contracting opportunities through design andconstruction methods that leverage their technical and management capabilities, which
contribute to reducing CO2 emissions. This is expected to lead to an increase inrevenue due to higher demand for products and services.
The financial impact related to "Increased Construction and Service Revenue from
Design and Construction" is estimated to be approximately 295.1 billion yen. It isconsidered an "opportunity" based on the assumption that annual contract value will
increase by 2,810.5 billion yen. This is calculated as follows:
Increase in Construction Design and Construction Value: 281,050,000,000 yen (2,810.5
billion yen) [Calculated as 50% of the 2022 actual construction contract value of 1,124.2
billion yen, representing the proportion achieved through design and construction, andfurther assuming that 50% of this contributed to the increase in contracts.]
Increase in Design and Other Service Value: 14,052,500,000 yen (140.5 billion yen)
[Calculated as 5% of the assumed design fee rate applied to the increase inconstruction design and construction value.]
The total "Increase in Construction Design and Construction Value + Increase in Design
and Other Service Value" amounts to 295,102,500,000 yen (2,951 billion 250 million
yen).

Cost to realize opportunity
6,763,000,000

Strategy to realize opportunity and explanation of cost calculation（Situation）The Obayashi Group is winning orders by ensuring clients understand thesuperiority of its ZEB and energy-saving technologies, which the Corporation owns, andby responding to the demand for ZEB, energy-saving buildings, and energy-saving
renovations.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

（Challenges） To this end, the Company must continue to develop technologies tomeet the world's ZEB and energy conservation needs, discover demand, increase
opportunities to win orders, and improve the certainty of winning orders. In addition, theCompany must provide their customers with high-performance eco-friendly facilities tomeet the demand for new ZEB and energy-efficient buildings, as well as that for energyefficient retrofits such as improving equipment efficiency and enhancing building
insulation performance.
(Actions) Therefore, it was decided to operate to realize the expansion of opportunities
by promoting technological development and solution offerings from ① to ④ under thispolicy. This is considered an action to be taken by the 2026 fiscal year, based on theMedium-term Management Plan 2022.
① (Competitive Product Planning as a Comprehensive Construction Company)
At Techno Station, located in Kiyose City, Tokyo, the main building of the Obayashi
Corporation Technical Research Institute, we developed a basic plan to complete a Zero
Energy Building (ZEB) that achieves a net-zero energy balance within the facility using
energy generated from renewable sources, which was completed in 2011. Furthermore,in the 2022 fiscal year, we completed the "Konan 2-chome Project" using the Obayashi
Corporation design and construction capabilities. This project aimed to develop and put
into practical use ZEB technologies, such as reducing external thermal loads andoptimizing equipment by utilizing operational data from existing the Obayashi Groupowned properties. Additionally, as part of our next-generation training facilities, we
completed "Port Plus," a pure wooden fire-resistant high-rise building (44 meters inheight, 11 stories) in the same fiscal year. By using 1,990 cubic meters of wood, thisbuilding effectively reduces CO2 emissions by approximately 1,700 tons (approximately40%) compared to steel-framed construction, stabilizing CO2 for an extended period
throughout the lifecycle from material fabrication to construction, demolition, anddisposal.
② (Strengthening Sales Promotion Structure to Expand Order Opportunities)
The Obayashi Group has traditionally managed customers' building history databases,
maintenance, real estate asset management, and operational support based on past
construction records, discovering energy-efficient new construction and renovationneeds through communication with customers and securing orders. In April 2020, theObayashi Corporation established the General Sales Headquarters at the Obayashi
Construction Head Office, and in March 2022, it established the Carbon Neutral
Solutions Department to respond quickly and effectively to diverse customer needs forcarbon neutrality.
③ (Introduction of Energy Conservation Consulting Services for Customers andCollection of Achievements)
Since the 1990s, we have developed the "EcoNavi" software, which simulates effectiveenergy-saving methods for buildings by utilizing performance and energy usage data ofcustomers' existing facilities. We have continued to provide consulting on our customers'
energy-saving needs and cost-effectiveness in the 2022 fiscal year.
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

④ (Strengthening Design Proposals and Technical Capabilities)
In addition to proposals based on the use of "EcoNavi," we have proposed the reductionof CO2 emissions through the use of the "CASBEE" environmental design method in
our group's design projects.
（Results）① The Obayashi Corporation Technical Research Institute, Techno Station, located in
Kiyose City, Tokyo, achieved Zero Energy Building (ZEB) status, which balances allenergy consumption with energy generated from renewable sources, based on
operational records from the 2014 fiscal year. This accomplishment has been
maintained for eight consecutive years, as of the 2022 fiscal year. The "Konan 2-chome
Project" obtained ZEB Ready certification without the introduction of special energysaving equipment. Japan's first high-rise pure wooden fire-resistant building, "PortPlus®," which was completed in March 2021 and serves as our next-generation training
facility, also holds ZEB Ready certification.
② Since the establishment of the Carbon Neutral Solutions Department in March 2022,
the number of inquiries received from both within and outside the company has
exceeded 100 cases (at an approximate rate of one case per day) by the end of July.
The Obayashi Corporation Construction's order intake for the 2022 fiscal year has
increased by approximately 3% compared to the 2021 fiscal year.
③ Consulting projects related to "EcoNavi" in the 2022 fiscal year have increased,
contributing to renovation work orders.
④ The operation-stage CO2 emissions reduction rate for our design projects in the 2022
fiscal year, as evaluated by CASBEE, achieved a 26% reduction compared to standard
buildings. The realized cost is included in the 2022 environmental accounting and is asfollows: "Research and development costs for design stage" (JPY 4,687 million) +"Environmental department costs" (JPY 354 million) + "Environmental design costs"(JPY 1,722 million) = JPY 6,763,000,000 (JPY 6,763 million).

Comment

ID
Opp2

Where in the value chain does the opportunity occur?
Direct operations

Opportunity type
Products and services

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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 Group'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 Group is proactively working to enhance its sales
capabilities, procurement power, and productivity, while also diversifying its revenue
sources by expanding its business scope. As part of this strategy, they have initiated the"Renewable Energy Business" as an action plan to realize a "carbon-neutral" society,aligning with their long-term vision, "Obayashi Sustainability Vision 2050." By accessing
the emerging markets such as solar power generation and wind power generation, they
anticipate an increase in revenue from selling electricity to long-term power companies
based on renewable energy's feed-in-tariff system. This expansion is also expected tocontribute to the growth of the earnings base of various the Obayashi Group companies.
As of March 2023, the Obayashi Group has already deployed electricity generation
projects using renewable energy, including 28 solar power plants, 2 onshore wind power
plants, and 2 wood biomass power plants, achieving a total generation capacity (rated
output) of approximately 225 MW. In recent years, they have focused on projects for theconstruction, maintenance, and operation of wind power generation, with the "Wind Lift
Method" developed as a way to assemble wind turbines without the need for large
cranes. This innovative approach has garnered recognition for their technicalexcellence, and the Mitanehamada Wind Power Station, which commenced operation in
November 2017, received the 2020 Nikken Joint Venture Award "Civil EngineeringAward." The newly started Rokkasho Village in Aomori " Kamikita Ogawara Onshore
Wind Power Plant " in April 2022 also utilized the "Wind Lift Method" to efficiently
assemble wind turbines within a minimal area. To meet the expanding domestic market
for offshore wind power plants, the Self-Elevating Platform (SEP), which began
construction in 2018, underwent design modifications, including enhanced crane lifting
capabilities, and was completed in April 2023. By accessing the emerging markets ofrenewable energy such as solar power generation and wind power generation, theexpansion of the earnings base of various the Obayashi Group companies from sellingelectricity to long-term power companies based on renewable energy's feed-in-tariff
system, they anticipate a prospective profit of 1,069.5 million yen due to the rise inrenewable energy prices. This is considered an "opportunity" based on the definition ofsignificant financial impact and is identified as a strategically significant opportunity
factor in the assessment.

Time horizon
Medium-term

Likelihood
Likely31

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Magnitude of impact
Medium-low

Are you able to provide a potential financial impact figure?
Yes, a single figure estimate

Potential financial impact figure (currency)
1,069,950,000
Potential financial impact figure - minimum (currency)
Potential financial impact figure - maximum (currency)
Explanation of financial impact figure
Access to new and emerging markets in the "Renewable Energy Business," such as
solar power generation and wind power generation, and the collective efforts of theentire the Obayashi Group in promoting these activities, create expectations ofincreased revenue through the feed-in-tariff system for long-term power companies
based on renewable energy. The Obayashi Clean Energy, including subsidiarycompanies engaged in renewable energy businesses, achieved sales of
15,285,000,000 yen (152.85 billion yen) in the fiscal year 2022. The expected future
increase in electricity prices is estimated to be 7%, based on the "Energy Supply and
Demand Outlook for the Fiscal Year 2030" by the Agency for Natural Resources andEnergy.
The profit due to fluctuations in renewable energy prices is calculated as follows: Profit
from Renewable Energy Price Variations = Obayashi Clean Energy's Fiscal Year 2022
Sales × Expected Future Increase in Electricity Prices = 15,285,000,000 yen (152.85
billion yen) × Expected Future Increase in Electricity Prices 7% = 1,069,950,000 yen(10,699.5 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 Group in October 2018 were to be used to promote solar power
generation, wind power generation (onshore, offshore), and other renewable energy
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

businesses. In June 2019, the company issued the Obayashi Corporation
Sustainability Bond (the 24th unsecured bond). These ESG financings are managed toreduce financing risks and are viewed as actions to be taken until FY2026 based on
the Medium-term Management Plan.
(Results) Some of the funds procured through the issuance of the Obayashi
Corporation Sustainability Bonds in June 2019 were allocated to renewable energy
projects, including a hydrogen production plant validation experiment, the Otsuki
Biomass Power Plant, and the Kamikita Ogawara Onshore Wind Power Plant. The
Otsuki Biomass Power Plant is already in operation, and the Kamikita Ogawara
Onshore Wind Power Plant, the second onshore wind power project in the Obayashi
Group, commenced construction in September 2020, with trial operations conducted in
the fiscal year 2021 and power generation commencing in April 2022. The Noshiro Port
Offshore Wind Power Project began commercial operation in December 2022, and the
Akita Port Offshore Wind Power Plant started commercial operation in January 2023.
These green power generation projects have diversified the energy sources in the
Obayashi Group's renewable energy business and expanded its revenue base.
Furthermore, to strongly commit to achieving "decarbonization," a key pillar of the
Obayashi Group's sustainability efforts, the "Obayashi Corporation Sustainability Link
Bond" was issued in April 2022, with the ongoing aim of promoting environmentally andsocially sustainable economic activities and growth.
The issuance cost for the Green Bonds is 53 million yen, and the issuance cost for the
Sustainability Bonds is 53 million yen, totaling 106 million yen in procurement costs.

Comment

ID
Opp3

Where in the value chain does the opportunity occur?
Direct operations

Opportunity type
Products and services

Primary climate-related opportunity driver
Development of climate adaptation, resilience and insurance risk solutions

Primary potential financial impact
Increased revenues resulting from increased demand for products and services
Company-specific description
In the civil engineering business of the Obayashi Group, constructing civil
structures for underground water storage in urban areas requiring advanced
construction techniques and large-scale infrastructure regeneration, such as dam
renovation, are recognized as competitive strengths.
According to the Japan Meteorological Agency's "Climate Change in Japan," inrecent years, there has been an increasing trend in the number of days with daily
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

rainfall exceeding 100 millimeters and short-duration heavy rainfalls of over 50mm inan hour due to the impact of global warming. As a result, situations that exceed theconventional processing capacity of rivers and sewage systems have become more
frequent. To prevent such flooding, the development of temporary underground water
storage capacity in urban areas and the dredging and rejuvenation of rivers anddams are considered effective measures and opportunities. Especially in westernJapan, where the Obayashi Group has a significant track record in domestic civilengineering, there has been an increase in opportunities for orders due to the recent
nationwide expansion of typhoon damage. For example, at the Amagase Dam, whichis the oldest multipurpose dam completed in 1964 in the Uji River system of Kyoto
Prefecture, redevelopment was planned to enhance flood control capabilities to copewith recent frequent large-scale flood disasters, as well as to improve water utilization
functions, such as converting to clean energy. Obayashi Corporation was awarded
the 2022 Civil Engineering Society Prize for its construction work on the nation's firstsuper-large cross-sectional tunnel-type flood-reduction facility, which achieved
structural stability through advanced design and reliable construction and overcame
delays in the construction process caused by soft geological conditions.
Access to this new market provides us with a competitive advantage in bid
evaluations, and it is expected to lead to increased revenue, expanded orderopportunities, and increased earnings. Civil engineering projects in urban areas, suchas the construction of underground rivers and underground water storage tanks, river
improvement projects, river dredging projects, seawall construction projects, anddam renovation projects, are categorized as climate adaptation-related civilengineering works. We will use the annual increase in order amounts or earnings if
our new solutions for climate adaptation needs are adopted as financial impact
metrics. The maximum annual increase in orders for climate adaptation-related civilengineering projects is 20,000,000,000 yen (approximately 200 billion yen), and thiswill be considered as a financial impact metric based on the definition of a significant
financial impact.

Time horizon
Short-term

Likelihood
Very likely

Magnitude of impact
Medium-high

Are you able to provide a potential financial impact figure?
Yes, an estimated range

Potential financial impact figure (currency)
Potential financial impact figure - minimum (currency)
3,000,000,000

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Potential financial impact figure - maximum (currency)
20,000,000,000

Explanation of financial impact figure
Due to climate change, situations that exceed the traditional processing capacity ofrivers and sewage systems are becoming increasingly frequent. The necessity ofstrengthening the national infrastructure to prevent these flood-related disasters has
risen. Following the three-year emergency measures for national infrastructure
strengthening until 2020, the government is implementing a concentrated strategy with aproject scale of over 15 trillion yen until the fiscal year 2025, named 'Disaster Prevention
and Reduction, Accelerated 5-Year Resilience Enhancement Measures.' This has led tothe expansion of the disaster prevention civil engineering facilities construction market.
Climate change adaptation technologies, such as the development of temporary
underground water storage facilities in urban areas and the dredging of rivers and dams,
have proven to be particularly effective. Even in local municipalities, new markets for
public works projects, such as sewage and stormwater trunk lines using the mediumsmall cross-sectional shield method, have emerged. Access to these new markets
provides our company group with a competitive advantage due to our advanced
construction techniques, leading to anticipated increases in order volumes and revenue.
To address the adaptation needs related to climate change, we propose new solutions
through climate adaptation-related civil engineering projects and consider the increasein annual order volumes and revenue as financial impact metrics. For the purposes ofthis estimation, we assume that climate adaptation-related civil engineering projects inurban areas, such as the construction of underground rivers, underground water storage
tanks, river improvement projects, river dredging projects, and seawall construction
projects, with a scale of approximately 1 to 5 billion yen per project, will occur at a rateof 3 to 4 projects per year.
As a result of the development of climate change adaptation solutions, it is estimatedthat the annual order volume for climate adaptation-related civil engineering projects will
increase from 3 billion yen (30 billion yen) to 20 billion yen (200 billion yen). The
minimum value is calculated as 1 project at 10 billion yen × 3 projects + 50 billion yen ×
0 projects = 3 billion yen (30 billion yen), and the maximum value is calculated as 1
project at 10 billion yen × 0 projects + 50 billion yen × 4 projects = 20 billion yen (200billion yen).

Cost to realize opportunity
5,041,000,000

Strategy to realize opportunity and explanation of cost calculation(Situation) The Obayashi Group has set the basic strategy of "Innovation inTechnology and Business" as one of the pillars in its Mid-Term Business Plan for2022. The company is focused on creating new customer value by aiming to provide
business opportunities in carbon neutrality and well-being (safety, security, comfort,
and health) through the development and improvement of technology. The Obayashi
Group possesses a variety of related technologies in areas such as the construction ofunderground water storage facilities, river and dam dredging, excavation work, shield
work, dam construction, among others, and considers these as its areas of expertise.
(Challenges) In the context of shield work, there has been a growing need for35

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

environmental consideration in recent years, especially in locations where
groundwater is used from the vicinity of shield tunnels. Concerns arise due to the riskof oil components from tail grease contaminating the groundwater. Additionally, whenit comes to the construction of gravity-type concrete dams, accurately positioning theconcrete formwork, which is necessary for pouring concrete, requires a significant
amount of time and effort, even for skilled workers. Therefore, automating the
movement and installation of concrete formwork to achieve labor-saving andautomation has become one of the crucial challenges for improving future productivity.
(Actions) The Obayashi Group, in collaboration with ENEOS Corporation in
September 2020, developed an environmentally friendly, high-performance tail sealantmaterial for shield construction called "Sealnock BD." Furthermore, in November 2020,
as part of the Kawakami Dam Main Construction Project (located in Iga City, Mie
Prefecture, commissioned by the Independent Administrative Institution Water
Resources Environment Center), they applied a technology known as the "Formwork
Automatic Sliding System," which is consolidated within the Dam Information
Construction Technology (ODICT™). They continued to refine and operate thistechnology in the 2022 fiscal year to reduce risks. This initiative is viewed as an actionaligned with the Mid-Term Business Plan for 2022 and is expected to continue until the2026 fiscal year.
(Results) "Sealnock BD" is an innovative sealant material used in shield constructionthat improves upon traditional tail sealants to prevent the inflow of groundwater into
tunnels. It is the first in Japan to obtain the Eco Mark due to its use of biodegradable
materials, which reduces its environmental impact. Additionally, in the development of
the "Formwork Automatic Sliding System," various technologies were combined,
including an automatic climbing scaffold with lifting capabilities and a survey systemfor confirming the position of the formwork. This combination enables a series of tasks,
from removing the formwork from the cast layer to sliding (vertical movement),
positioning, and installation, to be performed entirely automatically using a tablet.
The realized cost for this initiative is included in the 2022 fiscal year's environmental
accounting, consisting of "Research and Development Costs" (4,687 million yen) and"Environmental Department Costs" (354 million yen), totaling 5,041 million yen.

Comment

C3. Business Strategy
C3.1(C3.1) Does your organization’s strategy include a transition plan that aligns with a
1.5°C world?
Row1
Transition planYes, we have a transition plan which aligns with a 1.5°C world

Publicly available transition plan36

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Yes

Mechanism by which feedback is collected from shareholders on yourtransition plan
We do not have a feedback mechanism in place, but we plan to introduce one within thenext two years

Attach any relevant documents which detail your transition plan (optional)【Obayashi】Initiatives for a low-carbon, recycling-oriented, nature-symbiotic society_ Sustainability.pdf

C3.2(C3.2) Does your organization use climate-related scenario analysis to inform its
strategy?
Use of climate-related scenario analysis to inform strategy
Row1

Yes, qualitative and quantitative

C3.2a(C3.2a) Provide details of your organization’s use of climate-related scenario analysis.
Climaterelated
scenario

Scenario
analysiscoverage

Physicalclimatescenarios
RCP 1.9

Companywide

Temperaturealignment of
scenarioParameters, assumptions, analytical choices[Scenario Identification]
The Obayashi Corporation has formulated a long-term
vision titled "Obayashi Sustainability Vision 2050" tooutline the company's overall and long-term direction
for its business activities from an environmental
perspective. As one of the goals for the period from2040 to 2050, the company has set the target of"decarbonization" and is actively working towards
achieving a sustainable society. To realize this vision,
they have identified the formation of anenvironmentally conscious society, including the
reduction of CO2 emissions, as an essential ESG
priority. In 2020, due to the need to analyze the impact
of business activities in relation to the year 2030, theyexpressed their support for the "Task Force on
Climate-related Financial Disclosures (TCFD)"
recommendations, recognizing the importance ofaddressing climate-related risks and opportunities. In
order to understand the medium to long-term impact ofclimate-related issues on their business, they
conducted research on available scenario literature to
identify and assess physical risks and opportunities. In
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

their analysis, they used the RCP2.6 scenario as a
2°C scenario, but starting from the 2022 fiscal year,
they are reevaluating their approach by using the
RCP1.9 scenario as a 1.5°C scenario.
[Parameter]
The social quantitative parameter is based on theforecast of economic development, and the impact on
business is based on the sales ratio and growth rate.
Climate-related quantitative parameters such as theincrease in midsummer days due to risingtemperatures, the increase in natural disasters, andchanges in investments in infrastructure are taken into
account.
[Assumption]
Scenario analysis for the year 2030 was based on
available public data. It is assumed that a linearchange occurs in the data for the periods for which nodata are available. It is also assumed that there will bechanges in working hours due to rising temperatures in
2030 as well as in the impact of natural disasters.
Regarding market and customer trends, we assume
that, due to changes in construction demand and otherfactors, there will be a need to develop infrastructurethat can cope with the growing impact of natural
disasters.
[Analytic Choice]
The scenario analysis set the year 2030 as anintermediate year to 2050, the target year of the longterm vision. The JMA report on temperature increase
is referenced.
Physicalclimatescenarios
RCP 8.5

Companywide[Scenario Identification]
Having established the long-term vision "Obayashi
Sustainability Vision 2050" that sets the companywide, long-term direction of its business activities froman environmental perspective and having set
decarbonization as one of our targets for the years
2040 to 2050, the Obayashi Corporation is working torealize a sustainable society. We aim to realize thisvision by conducting business activities designed toprevent global warming. These include setting"Establish an Environmentally Responsible Society,"
which includes reducing CO2 emissions, as one of our
ESG Materialities. The company has declared our
support for the TCFD. We have conducted scenario
analyses on our businesses in order to identify and38

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

assess climate-related risks and opportunities andunderstand the medium- to long-term impacts climate
problems may have on our business by the year 2030.
The RCP8.5 was used as the 4°C scenario in thephysical risk/opportunity analysis..
[Parameter]
The forecast of economic development serves as asocial quantitative parameter, and the impact on
business is considered based on factors such as sales
ratios and growth rates. Climate-related quantitative
parameters include changes such as an increase in
the number of extremely hot days due to risingtemperatures, the expansion of natural disasters, andinvestments in infrastructure.
[Assumption]
We are conducting scenario analysis based on
available publicly accessible data for the year 2030.
For periods with no available data, we assume a linearchange. In our assumptions for 2030, we consider
changes in working hours due to temperature rise andvariations in damages caused by the impact of natural
disasters. Additionally, regarding market and customer
trends, we assume that adjustments to processes will
be necessary due to changes in working hours during
the summer, leading to alterations in these trends.
[Analytic Choice]
The scenario analysis set the year 2030 as anintermediate year to 2050, the target year of the longterm vision. The Japan Meteorological Agency’s reporton temperature increase is referenced.
Transition
scenarios
IEA NZE
2050

Companywide[Scenario Identification]
The Obayashi Corporation has formulated a long-term
vision, "Obayashi Sustainability Vision 2050," todemonstrate the company's comprehensive and longterm direction for its business activities from anenvironmental perspective. As one of the goals for theperiod from 2040 to 2050, the company advocates"carbon neutrality" and is progressing initiatives
towards achieving a sustainable society. In pursuit ofrealizing this vision, they have expanded businessactivities aimed at preventing global warming, setting"Formation of an environmentally conscious society" asa critical ESG priority, including reducing CO2
emissions. Acknowledging the need to analyze theimpact on business operations assumed for the year39

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

2030, in 2020, the company expressed its support for
the "Task Force on Climate-related Financial
Disclosures (TCFD)" recommendations. To understandthe medium to long-term impact of climate-related
issues on their business, they identified and evaluatedclimate-related risks and opportunities. In the analysisof transition risks and opportunities, they have beenusing the IEA_SDS scenario as a 2°C scenario.
However, starting from the 2022 fiscal year, they arereevaluating their approach and using the
IEA_NZE2050 scenario as a 1.5°C scenario.
[Parameter]
The forecast of economic development serves as asocial quantitative parameter, and the impact on
business is considered based on factors such as sales
ratios and growth rates. Climate-related quantitative
parameters include changes such as an increase in
the number of extremely hot days due to risingtemperatures, the expansion of natural disasters, andinvestments in infrastructure.
[Assumption]
We are conducting scenario analysis for the year 2030
based on available publicly accessible data. For
periods with no available data, we assume a linearchange. Assumptions for 2030 include changes suchas taxation on CO2 emissions to curb temperaturerise, increased demand for renewable energy, andpromotion of the adoption of energy-efficient andrenewable technologies. Additionally, regarding market
and customer trends, we assume changes such as
taxation, expansion of renewable energy demand, andcost fluctuations due to technological applications.
[Analytic Choice]
The scenario analysis assumed the year 2030 as anintermediate year to 2050, the target year of the longterm vision. The IEA's WEO2019 is referenced for tax
prices and renewable energy prices.
Transition
scenarios
IEA STEPS(previously
IEA NPS)

Companywide[Scenario Identification]
The Obayashi Corporation has formulated a long-term
vision, "Obayashi Sustainability Vision 2050," todelineate the company's comprehensive and long-term
direction for its business activities from anenvironmental perspective. As one of the goals for theperiod from 2040 to 2050, the company advocates"carbon neutrality" and is actively pursuing initiatives

40

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

towards achieving a sustainable society. In an effort torealize this vision, they are expanding businessactivities focused on preventing global warming,
setting "Formation of an environmentally conscious
society" as a critical ESG priority, including the
reduction of CO2 emissions. Acknowledging the needto analyze the impact on business operations
assumed for the year 2030, in support of the "Task
Force on Climate-related Financial Disclosures(TCFD)," the company expressed its commitment.
They are identifying and evaluating climate-relatedrisks and opportunities to comprehend the medium tolong-term impact of climate-related issues on theirbusiness. For the analysis of transition risks andopportunities, they have utilized the IEA_STEPS
scenario as a 4°C scenario when investigating
available scenario literature.
[Parameter]
The forecast of economic development serves as asocial quantitative parameter, and the impact on
business is considered based on factors such as sales
ratios and growth rates. Climate-related quantitative
parameters include changes such as an increase in
the number of extremely hot days due to risingtemperatures, the expansion of natural disasters, andinvestments in infrastructure.
[Assumption]
We are conducting scenario analysis for the year 2030
based on available publicly accessible data. For
periods with no available data, we assume a linearchange. Assumptions for 2030 include changes
related to energy demand and prices to adapt totemperature increases. Additionally, regarding market
and customer trends, we assume changes such as
fluctuations in material costs due to variations inenergy prices.

C3.2b(C3.2b) Provide details of the focal questions your organization seeks to address byusing climate-related scenario analysis, and summarize the results with respect tothese questions.
Row1
Focal questions

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

The transition scenario focuses on the impact of the carbon tax on the company's own
costs associated with the shift to a decarbonized society toward a 1.5°C world, theimpact on the customer side of the shift to decarbonization as a result of stricter
environmental regulations, and what opportunities are likely to be gained in the
Obayashi's Corporation service areas.
In the physical scenario, the focus was on the impact of a long-term temperature
increase of about 4°C on the client side of the Company due to more severe natural
disasters and worsening labour conditions due to higher temperatures and changes indemand for the Obayashi's Corporation existing service offerings to help solve theseissues.

Results of the climate-related scenario analysis with respect to the focal
questions
In the transition scenario, the following risks ① and opportunities ② are assumed.
①Introduction of a carbon tax:
Overview）・Cost increase when levied on CO2 from business activities
・Procurement cost increase from higher prices on construction materials withhigh energy consumption
2030 impact) 4℃ scenario = minor, 2℃ scenario = major②Expanding needs for energy conservation 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
Of the above, ① will be to curb costs by reducing energy consumption at each stage
through promotion of energy conservation at the construction stage and application of
low-carbon materials; and ② will be to promote the development of ZEB and othertechnologies and apply them to buildings to reduce energy consumption during
operation, thereby differentiating buildings and expanding opportunities to win orders.
In the physical scenario, the following risks ① and ② and opportunities ③ are assumed.
① Rise in summer temperatures
Overview）・Increasing health risks for workers at construction sites, includingheatstroke
・Deepening worker shortages due to worsening working environments atconstruction sites
2030 impact）4℃ scenario = major, 2℃ scenario = majo
② Intensification of natural disasters (typhoons, torrential rains, floods, etc.)
Overview）・Increasing risks such as damages to buildings under construction,suspended work, and damages to construction material suppliers due to storms andfloods・Decreasing value of real estate in areas with high flood risk
2030 impact）4℃ scenario = medium, 2℃ scenario = medium

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

③Measures for National Resilience Enhancement
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
As regards the above, ① the introduction of mechanized construction will reduce
construction schedule delays due to deterioration in the labour environment; ②strengthening the BCP, including the supply chain, will reduce construction schedule
delays due to wind and flood damage; and ③ the development of disasterprevention/mitigation/toughness technologies will be promoted and applied to buildings
and infrastructure to differentiate them and expand opportunities to win orders.

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

Have climaterelated risks andopportunities
influenced yourstrategy in thisarea?

Products and Yes
services

Description of influence

The main products and services provided by the Obayashi
Corporation are the design and construction of buildings. In
the construction industry, design and construction are themain focus of business activities. However, thegreenhouse gas (GHG) emissions during the operational
stage of buildings (after handover) are significant. Activities
aimed at emission reduction during the construction stage
are crucial, similar to the construction phase. The future
situation is expected to involve substantial reductions in
GHG emissions due to strengthened regulations, taking
into account national policies, such as the "Japan's Pledge
Draft" under the 2015 Paris Agreement, and thegovernment's "Carbon Neutral Declaration" for 2050 in
September 2020. Similar measures are likely to benecessary in the construction market.
In the national "Basic Energy Plan," there is an aim toachieve ZEB for new public buildings by 2020 and, for newbuildings on average, by 2030. Specific measures for
reducing GHG emissions during the operational phase ofbuildings for climate change mitigation are anticipated,

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

leading to an increase in construction orders for ZEBs
aiming for zero GHG emissions. During suchdevelopments, there is a risk of losing construction
contracts if a company does not possess the technology
and know-how to design and construct buildings that meetthe needs of the clients. Conversely, having a competitiveedge through technology and know-how can lead to anincrease in contract opportunities and, consequently, an
increase in revenue, influencing construction anddevelopment projects.
The Obayashi Corporation, in its TCFD scenario analysis,
anticipates that the expansion of the demand for energysaving and renewable energy technologies will increase thesignificance of ZEB and energy-saving technologies thatalign with societal needs. As part of its response, thecompany has set the goal of "Developing and Promoting
ZEB Technologies to Achieve Business Viability andComfort."In light of the above, it becomes imperative to supply
buildings to the market with lower GHG emissions. Two key
challenges for addressing this are: 1) the development andpossession of technology related to buildings to meet
regulations and needs, and 2) the enhancement oftechnological proposal capabilities and competitiveness.
Regarding the first challenge 1), regulations and needs are
expected to be shaped based on Japan's Pledge Draft. The
company matches this draft with its business scale andcontent, calculating the upper limit of operational phaseemissions for buildings in 2030. The total emission
reduction rate is calculated within this upper limit, reflecting
the emission reduction target set in line with national
regulations, which is shared with the technology
development department.
For the second challenge 2), as part of efforts to enhance
technological proposal capabilities and competitiveness,the company sets a numerical target for the reduction rateof CO2 emissions per floor area during the operational
phase concerning the "Reference Building" (a building withaverage performance set by CASBEE) compared to the"Subject Building" (a building with designed performance)
evaluated through CASBEE in design and construction

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

projects. This encourages the adoption of energy-saving
technologies, contributing to enhanced competitivenessthrough technological proposals.
For the first challenge 1), the company has set a mediumto long-term target for Scope 3 emission reduction rate, witha target of -27.5% by fiscal year 2030 compared to fiscal
year 2019, and has been working towards this goal. The
achieved result for fiscal year 2022 is -38.9% compared tofiscal year 2019.
For the second challenge 2), the achieved reduction rate for
operational phase emissions per floor area in fiscal year
2022 is -26%. Since CASBEE is periodically revised, theachievement against the reference building ratio for the
relevant fiscal year is used as an indicator, aiming tocontinuously maintain environmental performance moreadvanced than that of standard buildings concerningcomprehensive environmental performance. This is doneby setting a reduction rate in operational phase emissions
per unit area as mentioned earlier.
The basis for calculating the first challenge 1) is theoperational phase emissions of buildings supplied to themarket that fall under Scope 3 Category 11. This is the
cumulative total of the operational phase annual emissions
for design and construction projects calculated from theresults of the second challenge 2), contributing to the
reduction of GHG emissions in products and services.
The company has positioned "Formation of anenvironmentally conscious society" as an ESG materiality,
and its action plan includes the promotion ofenvironmentally conscious businesses and the promotion of
decarbonization, setting KPIs and actively engaging in
activities. While KPIs related to ESG activities are set as
non-financial quantitative indicators in the medium-term
management plan for 2022, this plan is based on the longterm vision "Obayashi Sustainability Vision 2050" and is a
decision-making document of strategic importance. These
activities have an impact on the business strategies of
construction and development projects. The medium-term
management plan for 2022 covers a five-year period from2022 to 2026, and the long-term vision "Obayashi
Sustainability Vision 2050" plans until the year 2050.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Supply chain Yes
and/or value
chain

The supply chain and value chain of the Obayashi
Corporation are broadly categorized into material
production and procurement (raw materials, secondary
products, equipment, etc.) that constitute construction, andlabor (workers) involved in construction activities on-site.
The impact of changes in greenhouse gas (GHG)
emissions during material production and construction on
products and services should be considered due topotential market effects arising from regulations associatedwith the Paris Agreement.
The national policies outlined in the "Japan's Pledge Draft"under the 2015 Paris Agreement provide emission targets
for each sector for the fiscal year 2030. Material production
and on-site construction fall under industrial sectors, and it
is anticipated that substantial reductions will be required.
Specifically, regulatory enhancements for GHG emission
reduction during material production and on-site
construction, as part of measures for climate change
mitigation, are expected to lead to increased construction
costs due to the imposition of carbon taxes and additional
facility investments. The risk of decreased competitivenessdue to differences in the ability to respond to cost increases
may result in the loss of construction contracts, leading todecreased revenue and profit. On the contrary, developing
materials that suppress GHG emissions during production
can enhance competitiveness, expanding opportunities forcontracts and influencing an increase in revenue.
In the TCFD scenario analysis, the Obayashi Corporation
identifies transition risks, expecting an increase in energy
consumption of construction materials due to theintroduction of carbon taxes, resulting in higher
procurement costs. As a response, the company advocatesthe "Establishment of Design and Construction Technology
for Wooden Medium- to High-Rise Buildings and Building
Supply Chain Construction."
Moreover, in on-site construction, even with a transition toclimate change mitigation, a slight temperature rise isunavoidable. This could lead to a decrease in work
efficiency due to restrictions on outdoor work during hightemperatures (increased break times), resulting inincreased construction costs due to project delays and work
during periods of lower temperatures outside regular
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

working hours.
In the TCFD scenario analysis, the Obayashi Corporation
also identifies physical risks. With the rise in summer
temperatures, it expects an increase in health risks, such asheatstroke among workers, and worsened working
conditions on construction sites, potentially leading to ashortage of workers. The company proposes measures
such as "Further Improvement of Productivity andConstruction Safety through the Utilization of Labor-Saving
Technology and ICT" and "Innovative Technological
Development for Improving Working Conditions on
Construction Sites."
Both of these impacts are considered for construction anddevelopment projects.
In material production, selecting low-carbon materials andcollaborating with cooperative companies for thedevelopment of low-carbon materials are necessary. For
material transport, measures such as improving the fuelefficiency of vehicles are required. In on-site labor,mechanization, equipment improvement, and further
technological development are needed to enhance work
efficiency, requiring collaboration with cooperative
companies similar to material production. Implementing
these measures will address the identified challenges.
The company has established the "Obayashi Group CSR
Procurement Policy" and "Obayashi Group CSR
Procurement Guidelines," requiring suppliers to comply withthe guidelines. The guidelines promote business activities
that consider environmental conservation and reduce
environmental impact, including measures against climatechange. They also specify the need to comply with all
relevant laws, international treaties, and social norms
applicable to countries and regions where businessactivities are conducted. All items in these guidelines,
including those related to climate change, are stipulated incontract clauses with suppliers, and confirmation is made at
the time of contracting. Additionally, the company conducts
an annual survey to assess suppliers' compliance with theguidelines. The company plans to continue the survey while
enhancing its content and expanding the scope of target
companies, strengthening supply chain management.
The company calculates CO2 emissions for Scope 3
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Category 1 "Purchased Goods and Services" as part ofmaterial production and CO2 emissions for Scope 3
Category 4 "Upstream Transportation and Distribution" formaterial transport, evaluating the reduction rate. For labor,
as it involves on-site activities, energy-saving activities in
Scopes 1 and 2 are evaluated in terms of the reduction rateof CO2 emissions.
Furthermore, the company uses the green procurement
rate of construction equipment as a key performanceindicator (KPI), encouraging the selection ofenvironmentally friendly materials and contributing toemission reduction.
As part of its commitment to ESG, the company has set a
medium-term target for a reduction rate of 27.5% by fiscal
year 2030 compared to fiscal year 2019 for Scope 3
emissions, and the achieved result for fiscal year 2022 is areduction of 38.9% compared to fiscal year 2019. For
Scope 1 and 2 emissions, the company has set a mediumterm target for a reduction rate of 46.2% by fiscal year 2030
compared to fiscal year 2019 and has been working
towards this goal. The achieved result for fiscal year 2022 isa reduction of 12.6% compared to fiscal year 2019.
Regarding the confirmation of suppliers' compliance withguidelines through surveys, the company conductedsurveys for approximately 1,500 suppliers in fiscal year
2022, achieving a response rate of 89.1% (1,299
companies, accounting for 79% of procurement amounts).
These activities are all interconnected with ESG materiality,
its action plans, and KPIs. While KPIs related to ESG
activities are set as non-financial quantitative indicators in
the medium-term management plan for 2022, this plan isbased on the long-term vision "Obayashi Sustainability
Vision 2050" and is a decision-making document ofstrategic importance.
The activities related to the ESG materiality "Promotion of
Responsible Supply Chain Management" and the action
plan "Promotion of CSR Procurement" are influencing thebusiness strategies of construction and development
projects. The medium-term management plan for 2022
covers a five-year period from 2022 to 2026, and the longterm vision "Obayashi Sustainability Vision 2050" aims toachieve the vision by the year 2050.
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Investment in Yes
R&D

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 2022 has as one of its technology
strategies "Building a Technology Portfolio and Ecosystem forCompetitive Advantage". The success or failure of technologicaldevelopment, addressing societal challenges including climatechange mitigation, has a significant 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 FY2030 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
the development and practical application of ZEB technology thatprovides comfort and is business-feasible."
More concretely, as keeping down greenhouse gas emissions tofight climate change becomes a social need, we expect to see
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 tocounter rising temperatures during on-site construction can also49

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

affect competitiveness. If the added value for cost increases is
not accepted by the client or if the company is outperformed inprice competitiveness by competitors in the same industry, there
is a risk of losing construction contracts. On the other hand, if
cost containment equivalent to the added value is achieved, it isassumed that this could lead to an expansion of opportunities forsecuring contracts. All of these factors are influenced by thepresence or absence of technical expertise and the development
and possession of technology and know-how in construction anddevelopment projects.
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 ismany times carried out over several years, so it can be difficult toevaluate 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 indirect contributions.
Our environment-related R&D expenses were 4,987 million yen
in FY2020.
The mid- to long-term target for Scope 3 emission reduction rate
is set at 27.5% below the FY2019 level for FY2030, and theactual result for FY2022 was 38.9% below the FY2019 level. The
company has set a mid- to long-term goal of reducing Scope 1
and 2 emissions by 46.2% in FY2030 compared to FY2019 andis continuing these activities. The actual result in FY2022 was
12.6% below the FY2019 level.
The emission reduction target is based on the Science Based
Targets (SBT) certified in 2022 and is aligned with the Obayashi
Sustainability Vision 2050, the long-term vision of our company
group. It is grounded in strategically significant decision-making.
Moreover, the Medium-Term Business Plan 2022, which is abusiness strategy, is also based on the long-term Obayashi
Sustainability Vision 2050, and it is thought to impact ourconstruction and development businesses since it includes R&D
investments.
The Medium-Term Business Plan 2022 covers the five-year
period from 2022 to 2026, while we aim to realize the long-term
Obayashi Sustainability Vision 2050 by 2050.
Operations

Yes

The main business of the Obayashi Corporation isconstruction, and the effective management of climatechange-related measures in construction activities
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

significantly impacts the company's performance. To
examine the impact of climate-related risks andopportunities in its business activities and incorporate
measures, the challenge is to establish an organizationaland standardized framework for management.
The company prioritizes safety, quality, and environmental
considerations in its business operations. Insufficient clarity
in the operational procedures and goal-setting for
management activities can lead to a decrease in theeffectiveness of activities aimed at reducing GHG
emissions on construction sites. This may result in an
inability to achieve sufficient reduction outcomes, posing
risks mentioned earlier in "Products and Services," "Supply
Chain and Value Chain," and "Research and Development."
On the other hand, effective management operations canlead to the achievement of reduction effects in various
areas, as mentioned earlier.
These initiatives primarily impact the construction business,but considering them as fundamental to all business sectors
and departments is crucial.
In the TCFD disclosure framework under "Governance," theObayashi Corporation states, "Based on the basic
principles of the Obayashi Corporation, we haveestablished the 'Sustainability Committee' under the Boardof Directors, with the President and Representative Director
as the chairman and external directors as members. The
Sustainability Committee, with the Global Management
Strategy Department as the secretariat, meets at least twicea year to identify sustainability issues, discuss and propose
response policies, and review the implementation status.
Based on the discussions in the Sustainability Committee,
the management policies for promoting ESG management
and achieving SDGs are determined by the Board of
Directors. In the executive division, each specializedcommittee in the field of sustainability, established by theManagement Planning Committee commissioned by the
President, formulates, promotes, and monitors measures inline with the management policies determined by the Boardof Directors. Moreover, they are responsible fordisseminating information internally and promoting
initiatives across the entire group. " The governancestructure diagram for climate change and the organizational
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

overview and activity summary of each department are
disclosed.
Likewise, in the TCFD disclosure framework under "Riskand Opportunity Identification," the company outlines, "In
the process of judging the impact of short-term, mediumterm, and long-term climate-related risks and opportunities
when examining business, strategy, and financial plans, theObayashi Corporation also considers the impact of climatechange. For short-term risks and opportunities, we review
and revise key measures for environmental conservation
semi-annually at the Environmental Management Special
Committee. For medium-term risks and opportunities, we
conduct detailed analyses in the medium-term
management plan and rolling plan. For long-term risks andopportunities, we review the long-term vision 'Obayashi
Sustainability Vision 2050' as needed. We also identify risks
and opportunities for 2030 during scenario analysis."
The company has established the "Environmental
Management Special Committee" chaired by theenvironmental officer under the Executive Committee
commissioned by the president. This committee formulates
and reviews plans and objectives based on the mediumterm management plan and considers and reviews activities
based on the results of evaluations of the environmental
management system (EMS). Based on the plans and goals
set by the Environmental Management Specialized
Committee, the environmental departments at the head
office, each branch, and affiliated group companies take thelead in promoting and implementing specific activities. The
content of the Environmental Management Specialized
Committee is reported to the Management Planning
Committee, Management Meetings, and the Board of
Directors. The Board of Directors oversees climate-relatedrisks and opportunities.
The effectiveness of operations is evaluated through theachievement of goals set in the EMS, analysis of factors,
and feedback to activities for the next fiscal year. EMS goals
are set based on the ESG Materiality Action Plan and KPIlinked to the mid-term management plan.
For instance, under the action plan "Promotion of
Decarbonization," the KPI is "CO2 emission reduction rate,"with targets set at ▲46.2% for Scopes 1 and 2 and ▲27.5%
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

for Scope 3 by 2030 compared to 2019. The company isactively promoting initiatives to achieve these targets.
The company has also certified these reduction targets in
2022 based on the Science-Based Targets (SBT)
framework. EMS reflects these reduction targets, ensuring
the effectiveness of GHG emission reduction acrossbusiness units.
KPIs in the ESG initiatives are considered non-financial
quantitative indicators in the mid-term management plan for2022, which is based on the long-term vision "Obayashi
Sustainability Vision 2050" and is strategically important
decision-making.
Considering the relationship with ESG initiatives mentioned
earlier, EMS is based on the business strategy of the midterm management plan, and its management achievements
impactvariousbusiness
sectors.The
mid-termmanagement plan for 2022 spans from 2022 to 2026, andthe long-term vision "Obayashi Sustainability Vision 2050"
aims for the realization of the vision by 2050.

C3.4(C3.4) Describe where and how climate-related risks and opportunities haveinfluenced your financial planning.
Financialplanning
elements thathave been
influenced
Row1 Revenues
Direct costs

Description of influence【Direct costs】
The direct costs in construction include material costs, labor costs(personnel expenses), and direct expenses (utilities such as waterand electricity). The procurement costs for construction equipmentthat constitutes the construction and affects environmental
performance correspond to material costs.
The procurement of construction equipment, which emits CO2
during production at the factory and transportation to theconstruction site, has an impact on climate change.
The national policy based on the Paris Agreement of 2015("Japan's Intended Nationally Determined Contributions") setsemission targets for each sector for the fiscal year 2030.
Production and on-site construction of materials fall under theindustrial sector, and material transportation falls under thetransportation sector, thus requiring appropriate reductions. For
the client, emissions from construction activities are considered53

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

emissions through the supply chain, and emission reduction is
expected due to similar reasons.
By planning the application of construction equipment with low
environmental impact, there is a risk of losing bids if it results incost increases and falls behind competitors. Conversely, if it canbe kept within the assumed cost for the client, opportunities tosecure contracts with a competitive advantage in construction
costs increase.
The Obayashi Corporation has been promoting its business with afocus on ESG and key performance indicators (KPIs) in its
medium-term management plan 2022 for the fiscal years 2022 to
2026.
Specifically, under the ESG materiality "Promotion of Responsible
Supply Chain Management," they are advancing the action plan
"Promotion of CSR Procurement," emphasizing the application of
construction equipment with low environmental impact.
As part of these measures, they have established the "Obayashi
Group CSR Procurement Policy" and the "Obayashi Group CSR
Procurement Guidelines," requiring suppliers to adhere to theguidelines. The guidelines stipulate the promotion of businessactivities that consider environmental conservation and reduction ofenvironmental impact, including measures against climate change.
Compliance with all these guidelines is included in the contractual
terms with suppliers, which is confirmed at the time of contract
execution. Expanding compliance with guidelines promoting
environmentally conscious business activities, including
environmental conservation and reduction of environmental impact,
is expected to contribute to reducing environmental impact.
By implementing the aforementioned action plan, the company
aims to increase the proportion of construction projects that
address the needs for reducing environmental impact in awarded
contracts, working towards achieving the sales and profit targets
outlined in the medium-term management plan for 2022.
Additionally, the Obayashi Corporation has established the "Green
Procurement Guidelines for Office Supplies and Construction
Equipment," encouraging the procurement of environmentallyfriendly materials in all business activities.
During procurement, they consider the following environmental
conservation measures: 1) promotion of energy and resource
conservation, 2) reduction of carbon dioxide emissions, 3)
suppression of waste generation, 4) promotion of recycling, 5)
suppression of the use of hazardous chemicals, and 6)
conservation of the surrounding environment and ecosystems.
In selecting items, consideration is given to those that contribute to
reducing environmental impact based on the "Law concerning thePromotion of Procurement of Eco-friendly Goods and Services by
the State and Other Entities" (Green Purchasing Law). Criteria
include items specified by the law, those with a large procurement
quantity, those with significant environmental impact reduction
effects regardless of the quantity, and those resulting from thecompany's technological development.
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

The main "specified items" for the company's construction
materials include construction-generated soil, asphalt concrete,cement, concrete, and steel materials.
【Revenue】
The Obayashi Corporation's major businesses include
construction, development, and green energy. In response to thenational policies outlined in the Paris Agreement of 2015 ("Japan's
Intended Nationally Determined Contributions") and the Japanese
government's "Carbon Neutral Declaration" in September 2020,
there is a significant demand for substantial greenhouse gas(GHG) emission reductions, leading to the need for similar
measures in the construction market. Specifically, there is arequirement for reducing CO2 emissions during the operational
phase of buildings and construction activities, adapting designs tomeet environmental performance standards, and implementing
construction techniques and expertise that achieve CO2 emission
reductions below the specified levels.
The Green Energy business, primarily focused on renewableenergy, is positioned as a crucial growth strategy to secure diverse
revenue sources and aims to provide a stable supply of CO2-freeelectricity. With a focus on solar power generation and biomass
power generation, the Obayashi Corporation has alreadyoperationalized 32 power plants with a combined capacity of
approximately 225MW. Efforts are underway to explore thechallenging large-scale offshore wind power generation projects.
In construction and development businesses, the risk lies in thepotential loss of bid opportunities if the company lacks the technicalexpertise to design and construct buildings that meet the needs ofthe client. This risk could lead to a decrease in revenue and profit.
Conversely, possessing competitive advantages through thementioned technical expertise can lead to an expansion of
construction project awards, resulting in increased revenue andprofit.
Climate change mitigation efforts and the timely execution ofresearch, technological development, and knowledge acquisition
related to societal and market needs have a significant impact on
the success of the business.
The mid-term management plan for 2022 sets revenue andoperating profit targets as key performance indicators (KPIs) overthe period from the fiscal year 2022 to 2026.
The strategic foundation for achieving these goals is thecommitment to ESG initiatives. The plan includes addressing
environmental challenges and promoting the formation of a socially
responsible society through the ESG materiality of "Creating an
Environmentally Considerate Society." The action plan involves
promoting decarbonization, and the KPI of "CO2 Emission
Reduction Rate" is set for Scopes 1, 2, and 3, aiming to resolve
societal challenges and expand business domains throughtechnology acquisition.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

The acquisition of new technologies, as mentioned earlier, has adirect impact on revenue and profit. Improving in this area
contributes to achieving the management's goal. Additionally, bycontinuing investments in renewable energy projects, the company
is steadily increasing its power generation capacity, aligning withthe goal of achieving targets.
Indicators, Targets, and Fiscal Year 2022 Performance for CO2
Emission Reduction and Financial Plan are as follows:
Indicators: Scope 1 & 2
Targets: 46.2% reduction by the fiscal year 2030 (compared to thefiscal year 2019)
FY 2022 Performance:12.6% reduction
Indicators: Scope 3
Targets: 27.5% reduction by the fiscal year 2030 (compared to thefiscal year 2019)
FY 2022 Performance: 38.9% reduction
Indicators: Annual Power Generation Capacity through Renewable
Energy Business
Targets: Over 683,700 MWh in FY 2022 → Converted CO2
Emissions: 310,000 t-CO2
FY 2022 Performance: 540,279 MWh → Converted CO2
Emissions: 240,000 t-CO2
Revenue
Indicators: FY 2022 target of approximately 2 trillion yen according
to the mid-term management plan for 2022
FY 2022 Performance: 1,983.8 billion yen
Operating Profit
Indicators: FY 2022 target of approximately 1000 billion yen
according to the mid-term management plan for 2022
FY 2022 Performance: 938 billion yen
Moreover, the investment and initiatives for the Construction andDevelopment businesses are as follows:56

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Construction Business
Investment: Research and development of construction technology(2022-2026 Plan Total: 800 billion yen
FY 2022 Performance: 161 billion yen)
Initiatives:- Providing environmentally efficient buildings (e.g., ZEB)
- Promoting energy-efficient construction- Introducing low-carbon materials (e.g., application of clean
concrete, green procurement)- Introducing energy-efficient construction machinery- Achieving automation and autonomous construction, etc.
Development Business
Investment: Sustainable investment(Target Share in Real Estate Rental Business Investment: Over90%
Achieved approximately 94% in FY 2020)
Initiatives:- Providing green buildings- Investing in energy-efficient projects, etc.
Green Energy Business
Investment: Investment in renewable energy generation projects,
etc.
(2022-2026 Plan Total: 500 billion yen
FY 2022 Performance:** 31 billion yen)
Initiatives:- Solar power generation projects- Biomass power generation projects- Onshore wind power generation projects- Geothermal and small hydropower generation projects, etc.
Note that the impact of the COVID-19 pandemic persisted in someareas of the Construction and Development businesses in FY
2022. However, overall, the targets based on the mid-term
management plan for 2022 were generally achieved, indicating
steady progress in both climate change mitigation efforts and57

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

securing revenue and profit.

C3.5(C3.5) In your organization’s financial accounting, do you identify spending/revenue
that is aligned with your organization’s climate transition?
Identification of spending/revenue that is aligned with your organization’s climate transitionNo, but we plan to in the next two years

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

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

Target reference number
Abs 1
Is this based on scientific evidence?
Yes, this target has received approval from the Science-Based Targets initiative(SBTi), which is based on scientific evidence.
Ambition level of the goal
Aligned with the 1.5°C target
Year of Target Implementation
2022
Target coverage
Company-wide

Scope(s)Scope1
Scope2

Scope 2 accounting method
Market-based

Scope 3 category(ies)58

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Base year
2020
Base year Scope 1 emissions targeted by the goals (metric tons CO2e)258,800

Base year Scope 2 emissions targeted by the goals (metric tons CO2e)118,700

Scope 3 Category 1 Base Year: Emissions (CO2-equivalent tons) frompurchased goods and services targeted by the goal.
Scope 3 Category 2 Base Year: Emissions (CO2-equivalent tons) from capital
goods targeted by the goal.
Scope 3 Category 3 Base Year: Emissions (CO2-equivalent tons) from fuel andenergy-related activities (not included in Scope 1 and 2) targeted by the goal.
Scope 3 Category 4 Base Year: Emissions (CO2-equivalent tons) fromupstream logistics targeted by the goal.
Scope 3 Category 5 Base Year: Emissions (CO2-equivalent tons) from waste
generated in operations targeted by the goal.
Scope 3 Category 6 Base Year: Emissions (CO2-equivalent tons) frombusiness travel targeted by the goal.
Scope 3 Category 7 Base Year: Emissions (CO2-equivalent tons) from
employee commuting targeted by the goal.
Scope 3 Category 8 Base Year: Emissions (CO2-equivalent tons) fromupstream leased assets targeted by the goal.
Scope 3 Category 9 Base Year: Emissions (CO2-equivalent tons) fromdownstream logistics targeted by the goal.
Scope 3 Category 10 Base Year: Emissions (CO2-equivalent tons) fromprocessing of sold products targeted by the goal.
Scope 3 Category 11 Base Year: Emissions (CO2-equivalent tons) from use ofsold products targeted by the goal.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 12 Base Year: Emissions (CO2-equivalent tons) from end-oflife treatment of sold products targeted by the goal.
Scope 3 Category 13 Base Year: Emissions (CO2 equivalent tons) fromdownstream leased assets targeted for the goal.
Scope 3 Category 14 Base Year: Emissions (CO2 equivalent tons) from
franchises targeted for the goal.
Scope 3 Category 15 Base Year: Emissions (CO2 equivalent tons) frominvestments targeted for the goal.
Base Year Scope 3 Other (Upstream) Emissions targeted for the goal (CO2equivalent tons)
Base Year Scope 3 Other (Downstream) Emissions targeted for the goal (CO2equivalent tons)
Total emissions from Scope 3 in the base year targeted for the goals (CO2equivalent tons).
Total base year emissions for all selected scopes targeted for the goals (CO2equivalent tons).
377,500
Proportion of base year Scope 1 emissions targeted for the goals among thetotal base year Scope 1 emissions.
100
Proportion of base year Scope 2 emissions targeted for the goals among thetotal base year Scope 2 emissions.
100
Scope 3 Category 1 Base Year: The proportion of emissions from purchased
goods and services targeted for the goals, among the total emissions in the
Scope 3 Category 1 base year: Purchased goods and services (CO2 equivalenttons).
Scope 3 Category 2 Base Year: The proportion of emissions from capital goods
targeted for the goals, among the total emissions in the Scope Category 2 baseyear: Capital goods (CO2 equivalent tons).
Scope 3 Category 3 Base Year: The proportion of emissions from fuel andenergy-related activities (not included in Scope 1 and 2) targeted for the goals,

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

among the total emissions in the Scope 3 Category 3 base year: Fuel andenergy-related activities (not included in Scope 1 and 2) (CO2 equivalent tons).
Scope 3 Category 4 Base Year: The proportion of emissions from upstream
logistics targeted by the objectives, among the total emissions in the Scope 3
Category 4 base year: Upstream logistics (CO2 equivalent tons).
Scope 3 Category 5 Base Year: The proportion of emissions from waste
generated in operations targeted for the goals, among the total emissions in
the Scope 3 Category 5 base year: Waste generated in operations (CO2equivalent tons).
Scope 3 Category 6 Base Year: The proportion of emissions from businesstravel targeted for the goals, among the total emissions in the Scope 3
Category 6 base year: Business travel (CO2 equivalent tons).
Scope 3 Category 7 Base Year: The proportion of emissions from employee
commuting targeted for the goals, among the total emissions in the Scope 3
Category 7 base year: Employee commuting (CO2 equivalent tons).
Scope 3 Category 8 Base Year: The proportion of emissions from upstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 8 base year: Upstream leased assets (CO2 equivalent tons).
Scope 3 Category 9 Base Year: The proportion of emissions from downstream
logistics targeted for the goals, among the total emissions in the Scope 3
Category 9 base year: Downstream logistics (CO2 equivalent tons).
Scope 3 Category 10 Base Year: The proportion of emissions from processingof sold products targeted for the goals, among the total emissions in the Scope
3 Category 10 base year: Processing of sold products (CO2 equivalent tons).
Scope 3 Category 11 Base Year: The proportion of emissions from the use ofsold products targeted for the goals, among the total emissions in the Scope 3
Category 11 base year: Use of sold products (CO2 equivalent tons).
Scope 3 Category 12 Base Year: The proportion of emissions from the disposalof sold products targeted for the goals, among the total emissions in the Scope
3 Category 12 base year: Disposal of sold products (CO2 equivalent tons).

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 13 Base Year: The proportion of emissions from downstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 13 base year: Downstream leased assets (CO2 equivalent tons).
Scope 3 Category 14 Base Year: The proportion of emissions from franchises
targeted for the goals, among the total emissions in the Scope 3 Category 14
base year: Franchises (CO2 equivalent tons).
Scope 3 Category 15 Base Year: The proportion of emissions from investments
targeted for the goals, among the total emissions in the Scope 3 Category 15
base year: Investments (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Upstream), theproportion of emissions from Scope 3 Other (Upstream) in the base year
targeted for the goals (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Downstream),
the proportion of emissions from Scope 3 Other (Downstream) in the base year
targeted for the goals (CO2 equivalent tons).
Proportion of baseline total emissions for Scope 3 that represents the baseline
emissions for the selected Scope 3 targets (all Scope 3 categories)
Proportion of selected Scope's baseline total emissions that represent thebaseline emissions for the selected Scope's targets.
100
Target year
2023
Percentage reduction from baseline year (%)
12.6
Total emissions for the target year for all selected Scopes (CO2 equivalenttons) [Automatically calculated]
329,935
Scope 1 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
283,753
Scope 2 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
46,179
Scope 3 Category 1: Emissions from purchased goods and services in thereporting year that are the target of the goal (CO2 equivalent tons)

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 2: Emissions from capital goods in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 3: Emissions from fuel and energy-related activities in thereporting year that are the target of the goal and not included in Scope 1 and 2(CO2 equivalent tons)
Scope 3 Category 4: Emissions from upstream logistics in the reporting yearthat are the target of the goal (CO2 equivalent tons)
Scope 3 Category 5: Emissions from waste generated in operations in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 6: Emissions from business travel in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 7: Emissions from employee commuting in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 8: Emissions from upstream leased assets in the reporting
year that are within the target scope (CO2 equivalent tons)
Scope 3 Category 9: Emissions from downstream logistics in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 10: Emissions from processing of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 11: Emissions from the use of sold products in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 12: Emissions from the disposal of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 13: Emissions from downstream leased assets in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 14: Emissions from franchises in the reporting year that are
the target of the goal (CO2 equivalent tons)
Scope 3 Category 15: Emissions from investments in the reporting year thatare the target of the goal (CO2 equivalent tons)

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Emissions from Scope 3 Other (Upstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Downstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Scope 3 emissions for the reporting year that are the target of the goal (CO2equivalent tons)
The total emissions (in CO2 equivalent tons) for the reporting year, targeting all
selected scopes' goals.
329,932
Is land-related emission included in this goal?
No, land-related emissions are not included (e.g., non-FLAG SBT)
Percentage of Goal Achieved for the Base Year [auto-calculated]
100.0063071586
Status of the Goal for the Reporting Year
Achieved
Explain the scope of the goal and specify exclusions.
Short-term goal: "Established by the Board of Directors for the fiscal year 2022
(April 1, 2022 - March 31, 2023), with a 12.6% reduction compared to fiscal year
2019
Plan to achieve the goal and progress made at the end of the reporting year.
List the emission reduction initiatives that contributed most to achieving thegoal.
•
Introduction of diesel substitute fuel•
Reduction of fuel consumption through the promotion of ICT-based
efficiency in construction work•
Transition to renewable energy

Target reference number
Abs 2

Is this based on scientific evidence？
Yes, this target has received approval from the Science-Based Targets initiative(SBTi), which is based on scientific evidence.
Ambition level of the goal64

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Aligned with the 1.5°C target
Year of Target Implementation
2022
Target coverage
Company-wide
Scope(s)Scope3
Scope 2 accounting method
Scope 3 category(ies)Category 1: Purchased goods and services
Category 11: Use of sold products
Base year
2020
Base year Scope 1 emissions targeted by the goals (metric tons CO2e)
Base year Scope 2 emissions targeted by the goals (metric tons CO2e)
Scope 3 Category 1 Base Year: Emissions (CO2-equivalent tons) frompurchased goods and services targeted by the goal.
1,741,300
Scope 3 Category 2 Base Year: Emissions (CO2-equivalent tons) from capital
goods targeted by the goal.
Scope 3 Category 3 Base Year: Emissions (CO2-equivalent tons) from fuel andenergy-related activities (not included in Scope 1 and 2) targeted by the goal.
Scope 3 Category 4 Base Year: Emissions (CO2-equivalent tons) fromupstream logistics targeted by the goal.
Scope 3 Category 5 Base Year: Emissions (CO2-equivalent tons) from waste
generated in operations targeted by the goal.
Scope 3 Category 6 Base Year: Emissions (CO2-equivalent tons) frombusiness travel targeted by the goal.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 7 Base Year: Emissions (CO2-equivalent tons) from
employee commuting targeted by the goal.
Scope 3 Category 8 Base Year: Emissions (CO2-equivalent tons) fromupstream leased assets targeted by the goal.
Scope 3 Category 9 Base Year: Emissions (CO2-equivalent tons) fromdownstream logistics targeted by the goal.
Scope 3 Category 10 Base Year: Emissions (CO2-equivalent tons) fromprocessing of sold products targeted by the goal.
Scope 3 Category 11 Base Year: Emissions (CO2-equivalent tons) from use ofsold products targeted by the goal.
2,847,100
Scope 3 Category 12 Base Year: Emissions (CO2-equivalent tons) from end-oflife treatment of sold products targeted by the goal.
Scope 3 Category 13 Base Year: Emissions (CO2 equivalent tons) fromdownstream leased assets targeted for the goal.
Scope 3 Category 14 Base Year: Emissions (CO2 equivalent tons) from
franchises targeted for the goal.
Scope 3 Category 15 Base Year: Emissions (CO2 equivalent tons) frominvestments targeted for the goal.
Base Year Scope 3 Other (Upstream) Emissions targeted for the goal (CO2equivalent tons)
Base Year Scope 3 Other (Downstream) Emissions targeted for the goal (CO2equivalent tons)
Total emissions from Scope 3 in the base year targeted for the goals (CO2equivalent tons).
4,588,400

Total base year emissions for all selected scopes targeted for the goals (CO2equivalent tons).
4,588,400

Proportion of base year Scope 1 emissions targeted for the goals among thetotal base year Scope 1 emissions.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Proportion of base year Scope 2 emissions targeted for the goals among thetotal base year Scope 2 emissions.
Scope 3 Category 1 Base Year: The proportion of emissions from purchased
goods and services targeted for the goals, among the total emissions in the
Scope 3 Category 1 base year: Purchased goods and services (CO2 equivalenttons).
100
Scope 3 Category 2 Base Year: The proportion of emissions from capital goods
targeted for the goals, among the total emissions in the Scope Category 2 baseyear: Capital goods (CO2 equivalent tons).
Scope 3 Category 3 Base Year: The proportion of emissions from fuel andenergy-related activities (not included in Scope 1 and 2) targeted for the goals,
among the total emissions in the Scope 3 Category 3 base year: Fuel andenergy-related activities (not included in Scope 1 and 2) (CO2 equivalent tons).
Scope 3 Category 4 Base Year: The proportion of emissions from upstream
logistics targeted by the objectives, among the total emissions in the Scope 3
Category 4 base year: Upstream logistics (CO2 equivalent tons).
Scope 3 Category 5 Base Year: The proportion of emissions from waste
generated in operations targeted for the goals, among the total emissions in
the Scope 3 Category 5 base year: Waste generated in operations (CO2equivalent tons).
Scope 3 Category 6 Base Year: The proportion of emissions from businesstravel targeted for the goals, among the total emissions in the Scope 3
Category 6 base year: Business travel (CO2 equivalent tons).
Scope 3 Category 7 Base Year: The proportion of emissions from employee
commuting targeted for the goals, among the total emissions in the Scope 3
Category 7 base year: Employee commuting (CO2 equivalent tons).
Scope 3 Category 8 Base Year: The proportion of emissions from upstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 8 base year: Upstream leased assets (CO2 equivalent tons).
Scope 3 Category 9 Base Year: The proportion of emissions from downstream
logistics targeted for the goals, among the total emissions in the Scope 3
Category 9 base year: Downstream logistics (CO2 equivalent tons).

67

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 10 Base Year: The proportion of emissions from processingof sold products targeted for the goals, among the total emissions in the Scope
3 Category 10 base year: Processing of sold products (CO2 equivalent tons).
Scope 3 Category 11 Base Year: The proportion of emissions from the use ofsold products targeted for the goals, among the total emissions in the Scope 3
Category 11 base year: Use of sold products (CO2 equivalent tons).
100
Scope 3 Category 12 Base Year: The proportion of emissions from the disposalof sold products targeted for the goals, among the total emissions in the Scope
3 Category 12 base year: Disposal of sold products (CO2 equivalent tons).
Scope 3 Category 13 Base Year: The proportion of emissions from downstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 13 base year: Downstream leased assets (CO2 equivalent tons).
Scope 3 Category 14 Base Year: The proportion of emissions from franchises
targeted for the goals, among the total emissions in the Scope 3 Category 14
base year: Franchises (CO2 equivalent tons).
Scope 3 Category 15 Base Year: The proportion of emissions from investments
targeted for the goals, among the total emissions in the Scope 3 Category 15
base year: Investments (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Upstream), theproportion of emissions from Scope 3 Other (Upstream) in the base year
targeted for the goals (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Downstream),
the proportion of emissions from Scope 3 Other (Downstream) in the base year
targeted for the goals (CO2 equivalent tons).
Proportion of baseline total emissions for Scope 3 that represents the baseline
emissions for the selected Scope 3 targets (all Scope 3 categories)
100
Proportion of selected Scope's baseline total emissions that represent thebaseline emissions for the selected Scope's targets.
100
Target year
2023
Percentage reduction from baseline year (%)
7.5

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Total emissions for the target year for all selected Scopes (CO2 equivalenttons) [Automatically calculated]
4,244,270
Scope 1 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
Scope 2 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
Scope 3 Category 1: Emissions from purchased goods and services in thereporting year that are the target of the goal (CO2 equivalent tons)
1,779,778

Scope 3 Category 2: Emissions from capital goods in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 3: Emissions from fuel and energy-related activities in thereporting year that are the target of the goal and not included in Scope 1 and 2(CO2 equivalent tons)
Scope 3 Category 4: Emissions from upstream logistics in the reporting yearthat are the target of the goal (CO2 equivalent tons)
Scope 3 Category 5: Emissions from waste generated in operations in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 6: Emissions from business travel in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 7: Emissions from employee commuting in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 8: Emissions from upstream leased assets in the reporting
year that are within the target scope (CO2 equivalent tons)
Scope 3 Category 9: Emissions from downstream logistics in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 10: Emissions from processing of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 11: Emissions from the use of sold products in the reporting
year that are the target of the goal (CO2 equivalent tons)
1,187,833
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 12: Emissions from the disposal of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 13: Emissions from downstream leased assets in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 14: Emissions from franchises in the reporting year that are
the target of the goal (CO2 equivalent tons)
Scope 3 Category 15: Emissions from investments in the reporting year thatare the target of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Upstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Downstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Scope 3 emissions for the reporting year that are the target of the goal (CO2equivalent tons)
2,967,611

The total emissions (in CO2 equivalent tons) for the reporting year, targeting all
selected scopes' goals.
2,967,611

Is land-related emission included in this goal?
No, land-related emissions are not included (e.g., non-FLAG SBT)
Percentage of Goal Achieved for the Base Year [auto-calculated]
470.9816057885
Status of the Goal for the Reporting Year
Achieved
Explain the scope of the goal and specify exclusions.
Short-term goal: "Established by the Board of Directors for the fiscal year 2022 (April
1, 2022 - March 31, 2023), with a 7.5% reduction compared to fiscal year 2019
Plan to achieve the goal and progress made at the end of the reporting year.
List the emission reduction initiatives that contributed most to achieving thegoal.
•
Promotion and Expansion of ZEB and ZEH-M

Target reference number
Abs 3
70

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Is this based on scientific evidence？
Yes, this target has received approval from the Science-Based Targets initiative(SBTi), which is based on scientific evidence.
Ambition level of the goal
Aligned with the 1.5°C target
Year of Target Implementation
2022
Target coverage
Company-wide
Scope(s)Scope1
Scope2
Scope 2 accounting method
Market standards
Scope 3 category(ies)Base year
2020
Base year Scope 1 emissions targeted by the goals (metric tons CO2e)258,800
Base year Scope 2 emissions targeted by the goals (metric tons CO2e)118,700
Scope 3 Category 1 Base Year: Emissions (CO2-equivalent tons) frompurchased goods and services targeted by the goal.
Scope 3 Category 2 Base Year: Emissions (CO2-equivalent tons) from capital
goods targeted by the goal.
Scope 3 Category 3 Base Year: Emissions (CO2-equivalent tons) from fuel andenergy-related activities (not included in Scope 1 and 2) targeted by the goal.
Scope 3 Category 4 Base Year: Emissions (CO2-equivalent tons) fromupstream logistics targeted by the goal.
Scope 3 Category 5 Base Year: Emissions (CO2-equivalent tons) from waste
generated in operations targeted by the goal.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 6 Base Year: Emissions (CO2-equivalent tons) frombusiness travel targeted by the goal.
Scope 3 Category 7 Base Year: Emissions (CO2-equivalent tons) from
employee commuting targeted by the goal.
Scope 3 Category 8 Base Year: Emissions (CO2-equivalent tons) fromupstream leased assets targeted by the goal.
Scope 3 Category 9 Base Year: Emissions (CO2-equivalent tons) fromdownstream logistics targeted by the goal.
Scope 3 Category 10 Base Year: Emissions (CO2-equivalent tons) fromprocessing of sold products targeted by the goal.
Scope 3 Category 11 Base Year: Emissions (CO2-equivalent tons) from use ofsold products targeted by the goal.
Scope 3 Category 12 Base Year: Emissions (CO2-equivalent tons) from end-oflife treatment of sold products targeted by the goal.
Scope 3 Category 13 Base Year: Emissions (CO2 equivalent tons) fromdownstream leased assets targeted for the goal.
Scope 3 Category 14 Base Year: Emissions (CO2 equivalent tons) from
franchises targeted for the goal.
Scope 3 Category 15 Base Year: Emissions (CO2 equivalent tons) frominvestments targeted for the goal.
Base Year Scope 3 Other (Upstream) Emissions targeted for the goal (CO2equivalent tons)
Base Year Scope 3 Other (Downstream) Emissions targeted for the goal (CO2equivalent tons)
Total emissions from Scope 3 in the base year targeted for the goals (CO2equivalent tons).
Total base year emissions for all selected scopes targeted for the goals (CO2equivalent tons).

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

377,500

Proportion of base year Scope 1 emissions targeted for the goals among thetotal base year Scope 1 emissions.
100
Proportion of base year Scope 2 emissions targeted for the goals among thetotal base year Scope 2 emissions.
100
Scope 3 Category 1 Base Year: The proportion of emissions from purchased
goods and services targeted for the goals, among the total emissions in the
Scope 3 Category 1 base year: Purchased goods and services (CO2 equivalenttons).
Scope 3 Category 2 Base Year: The proportion of emissions from capital goods
targeted for the goals, among the total emissions in the Scope Category 2 baseyear: Capital goods (CO2 equivalent tons).
Scope 3 Category 3 Base Year: The proportion of emissions from fuel andenergy-related activities (not included in Scope 1 and 2) targeted for the goals,
among the total emissions in the Scope 3 Category 3 base year: Fuel andenergy-related activities (not included in Scope 1 and 2) (CO2 equivalent tons).
Scope 3 Category 4 Base Year: The proportion of emissions from upstream
logistics targeted by the objectives, among the total emissions in the Scope 3
Category 4 base year: Upstream logistics (CO2 equivalent tons).
Scope 3 Category 5 Base Year: The proportion of emissions from waste
generated in operations targeted for the goals, among the total emissions in
the Scope 3 Category 5 base year: Waste generated in operations (CO2equivalent tons).
Scope 3 Category 6 Base Year: The proportion of emissions from businesstravel targeted for the goals, among the total emissions in the Scope 3
Category 6 base year: Business travel (CO2 equivalent tons).
Scope 3 Category 7 Base Year: The proportion of emissions from employee
commuting targeted for the goals, among the total emissions in the Scope 3
Category 7 base year: Employee commuting (CO2 equivalent tons).
Scope 3 Category 8 Base Year: The proportion of emissions from upstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 8 base year: Upstream leased assets (CO2 equivalent tons).

73

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 9 Base Year: The proportion of emissions from downstream
logistics targeted for the goals, among the total emissions in the Scope 3
Category 9 base year: Downstream logistics (CO2 equivalent tons).
Scope 3 Category 10 Base Year: The proportion of emissions from processingof sold products targeted for the goals, among the total emissions in the Scope
3 Category 10 base year: Processing of sold products (CO2 equivalent tons).
Scope 3 Category 11 Base Year: The proportion of emissions from the use ofsold products targeted for the goals, among the total emissions in the Scope 3
Category 11 base year: Use of sold products (CO2 equivalent tons).
100
Scope 3 Category 12 Base Year: The proportion of emissions from the disposalof sold products targeted for the goals, among the total emissions in the Scope
3 Category 12 base year: Disposal of sold products (CO2 equivalent tons).
Scope 3 Category 13 Base Year: The proportion of emissions from downstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 13 base year: Downstream leased assets (CO2 equivalent tons).
Scope 3 Category 14 Base Year: The proportion of emissions from franchises
targeted for the goals, among the total emissions in the Scope 3 Category 14
base year: Franchises (CO2 equivalent tons).
Scope 3 Category 15 Base Year: The proportion of emissions from investments
targeted for the goals, among the total emissions in the Scope 3 Category 15
base year: Investments (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Upstream), theproportion of emissions from Scope 3 Other (Upstream) in the base year
targeted for the goals (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Downstream),
the proportion of emissions from Scope 3 Other (Downstream) in the base year
targeted for the goals (CO2 equivalent tons).
Proportion of baseline total emissions for Scope 3 that represents the baseline
emissions for the selected Scope 3 targets (all Scope 3 categories)
Proportion of selected Scope's baseline total emissions that represent thebaseline emissions for the selected Scope's targets.
100

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Target year
2031
Percentage reduction from baseline year (%)
46.2
Total emissions for the target year for all selected Scopes (CO2 equivalenttons) [Automatically calculated]
203,095
Scope 1 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
283,753
Scope 2 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
46,179
Scope 3 Category 1: Emissions from purchased goods and services in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 2: Emissions from capital goods in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 3: Emissions from fuel and energy-related activities in thereporting year that are the target of the goal and not included in Scope 1 and 2(CO2 equivalent tons)
Scope 3 Category 4: Emissions from upstream logistics in the reporting yearthat are the target of the goal (CO2 equivalent tons)
Scope 3 Category 5: Emissions from waste generated in operations in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 6: Emissions from business travel in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 7: Emissions from employee commuting in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 8: Emissions from upstream leased assets in the reporting
year that are within the target scope (CO2 equivalent tons)
Scope 3 Category 9: Emissions from downstream logistics in the reporting
year that are the target of the goal (CO2 equivalent tons)75

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 10: Emissions from processing of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 11: Emissions from the use of sold products in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 12: Emissions from the disposal of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 13: Emissions from downstream leased assets in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 14: Emissions from franchises in the reporting year that are
the target of the goal (CO2 equivalent tons)
Scope 3 Category 15: Emissions from investments in the reporting year thatare the target of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Upstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Downstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Scope 3 emissions for the reporting year that are the target of the goal (CO2equivalent tons)
The total emissions (in CO2 equivalent tons) for the reporting year, targeting all
selected scopes' goals.
329,932

Is land-related emission included in this goal?
No, land-related emissions are not included (e.g., non-FLAG SBT)
Percentage of Goal Achieved for the Base Year [auto-calculated]
27.2744474069
Status of the Goal for the Reporting Year
Under configuration
Explain the scope of the goal and specify exclusions.
Mid-term goal: Established by the Board of Directors in accordance with the mid-term
management plan, aiming for a "46.2% reduction by the fiscal year 2030 (April 1,
2030, to March 31, 2031)."
Plan to achieve the goal and progress made at the end of the reporting year.
•
Introduction of alternative diesel fuels76

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023•

Reduction of fuel consumption through the promotion of ICT automation inconstruction•
Development and practical use of energy-efficient construction methods•
Fuel-efficient construction machinery, and electrification of construction
machinery•Transition to renewable energy.
List the emission reduction initiatives that contributed most to achieving thegoal.

Target reference number
Abs 4

Is this based on scientific evidence？
Yes, this target has received approval from the Science-Based Targets initiative(SBTi), which is based on scientific evidence.
Ambition level of the goal
Aligned with the 1.5°C target
Year of Target Implementation
2022
Target coverage
Company-wide
Scope(s)Scope3
Scope 2 accounting method
Scope 3 category(ies)Category 1: Purchased goods and services
Category 11: Use of sold products
Base year
2020
Base year Scope 1 emissions targeted by the goals (metric tons CO2e)
Base year Scope 2 emissions targeted by the goals (metric tons CO2e)77

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 1 Base Year: Emissions (CO2-equivalent tons) frompurchased goods and services targeted by the goal.
1,741,300
Scope 3 Category 2 Base Year: Emissions (CO2-equivalent tons) from capital
goods targeted by the goal.
Scope 3 Category 3 Base Year: Emissions (CO2-equivalent tons) from fuel andenergy-related activities (not included in Scope 1 and 2) targeted by the goal.
Scope 3 Category 4 Base Year: Emissions (CO2-equivalent tons) fromupstream logistics targeted by the goal.
Scope 3 Category 5 Base Year: Emissions (CO2-equivalent tons) from waste
generated in operations targeted by the goal.
Scope 3 Category 6 Base Year: Emissions (CO2-equivalent tons) frombusiness travel targeted by the goal.
Scope 3 Category 7 Base Year: Emissions (CO2-equivalent tons) from
employee commuting targeted by the goal.
Scope 3 Category 8 Base Year: Emissions (CO2-equivalent tons) fromupstream leased assets targeted by the goal.
Scope 3 Category 9 Base Year: Emissions (CO2-equivalent tons) fromdownstream logistics targeted by the goal.
Scope 3 Category 10 Base Year: Emissions (CO2-equivalent tons) fromprocessing of sold products targeted by the goal.
Scope 3 Category 11 Base Year: Emissions (CO2-equivalent tons) from use ofsold products targeted by the goal.
Scope 3 Category 12 Base Year: Emissions (CO2-equivalent tons) from end-oflife treatment of sold products targeted by the goal.
Scope 3 Category 13 Base Year: Emissions (CO2 equivalent tons) fromdownstream leased assets targeted for the goal.
Scope 3 Category 14 Base Year: Emissions (CO2 equivalent tons) from
franchises targeted for the goal.

78

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 15 Base Year: Emissions (CO2 equivalent tons) frominvestments targeted for the goal.
Base Year Scope 3 Other (Upstream) Emissions targeted for the goal (CO2equivalent tons)
Base Year Scope 3 Other (Downstream) Emissions targeted for the goal (CO2equivalent tons)
Total emissions from Scope 3 in the base year targeted for the goals (CO2equivalent tons).
4,588,400

Total base year emissions for all selected scopes targeted for the goals (CO2equivalent tons).
4,588,400

Proportion of base year Scope 1 emissions targeted for the goals among thetotal base year Scope 1 emissions.
Proportion of base year Scope 2 emissions targeted for the goals among thetotal base year Scope 2 emissions.
Scope 3 Category 1 Base Year: The proportion of emissions from purchased
goods and services targeted for the goals, among the total emissions in the
Scope 3 Category 1 base year: Purchased goods and services (CO2 equivalenttons).
100
Scope 3 Category 2 Base Year: The proportion of emissions from capital goods
targeted for the goals, among the total emissions in the Scope Category 2 baseyear: Capital goods (CO2 equivalent tons).
Scope 3 Category 3 Base Year: The proportion of emissions from fuel andenergy-related activities (not included in Scope 1 and 2) targeted for the goals,
among the total emissions in the Scope 3 Category 3 base year: Fuel andenergy-related activities (not included in Scope 1 and 2) (CO2 equivalent tons).
Scope 3 Category 4 Base Year: The proportion of emissions from upstream
logistics targeted by the objectives, among the total emissions in the Scope 3
Category 4 base year: Upstream logistics (CO2 equivalent tons).
Scope 3 Category 5 Base Year: The proportion of emissions from waste
generated in operations targeted for the goals, among the total emissions in
the Scope 3 Category 5 base year: Waste generated in operations (CO2equivalent tons).
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 6 Base Year: The proportion of emissions from businesstravel targeted for the goals, among the total emissions in the Scope 3
Category 6 base year: Business travel (CO2 equivalent tons).
Scope 3 Category 7 Base Year: The proportion of emissions from employee
commuting targeted for the goals, among the total emissions in the Scope 3
Category 7 base year: Employee commuting (CO2 equivalent tons).
Scope 3 Category 8 Base Year: The proportion of emissions from upstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 8 base year: Upstream leased assets (CO2 equivalent tons).
Scope 3 Category 9 Base Year: The proportion of emissions from downstream
logistics targeted for the goals, among the total emissions in the Scope 3
Category 9 base year: Downstream logistics (CO2 equivalent tons).
Scope 3 Category 10 Base Year: The proportion of emissions from processingof sold products targeted for the goals, among the total emissions in the Scope
3 Category 10 base year: Processing of sold products (CO2 equivalent tons).
Scope 3 Category 11 Base Year: The proportion of emissions from the use ofsold products targeted for the goals, among the total emissions in the Scope 3
Category 11 base year: Use of sold products (CO2 equivalent tons).
100
Scope 3 Category 12 Base Year: The proportion of emissions from the disposalof sold products targeted for the goals, among the total emissions in the Scope
3 Category 12 base year: Disposal of sold products (CO2 equivalent tons).
Scope 3 Category 13 Base Year: The proportion of emissions from downstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 13 base year: Downstream leased assets (CO2 equivalent tons).
Scope 3 Category 14 Base Year: The proportion of emissions from franchises
targeted for the goals, among the total emissions in the Scope 3 Category 14
base year: Franchises (CO2 equivalent tons).
Scope 3 Category 15 Base Year: The proportion of emissions from investments
targeted for the goals, among the total emissions in the Scope 3 Category 15
base year: Investments (CO2 equivalent tons).

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Among the total emissions in the base year for Scope 3 Other (Upstream), theproportion of emissions from Scope 3 Other (Upstream) in the base year
targeted for the goals (CO2 equivalent tons).
Among the total emissions in the base year for Scope 3 Other (Downstream),
the proportion of emissions from Scope 3 Other (Downstream) in the base year
targeted for the goals (CO2 equivalent tons).
Proportion of baseline total emissions for Scope 3 that represents the baseline
emissions for the selected Scope 3 targets (all Scope 3 categories)
100
Proportion of selected Scope's baseline total emissions that represent thebaseline emissions for the selected Scope's targets.
100
Target year
2031
Percentage reduction from baseline year (%)
27.5
Total emissions for the target year for all selected Scopes (CO2 equivalenttons) [Automatically calculated]
3,326,590
Scope 1 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
Scope 2 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
Scope 3 Category 1: Emissions from purchased goods and services in thereporting year that are the target of the goal (CO2 equivalent tons)
1,779,778
Scope 3 Category 2: Emissions from capital goods in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 3: Emissions from fuel and energy-related activities in thereporting year that are the target of the goal and not included in Scope 1 and 2(CO2 equivalent tons)
Scope 3 Category 4: Emissions from upstream logistics in the reporting yearthat are the target of the goal (CO2 equivalent tons)
Scope 3 Category 5: Emissions from waste generated in operations in thereporting year that are the target of the goal (CO2 equivalent tons)

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 6: Emissions from business travel in the reporting year thatare the target of the goal (CO2 equivalent tons)
Scope 3 Category 7: Emissions from employee commuting in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 8: Emissions from upstream leased assets in the reporting
year that are within the target scope (CO2 equivalent tons)
Scope 3 Category 9: Emissions from downstream logistics in the reporting
year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 10: Emissions from processing of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 11: Emissions from the use of sold products in the reporting
year that are the target of the goal (CO2 equivalent tons)
1,187,833
Scope 3 Category 12: Emissions from the disposal of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 13: Emissions from downstream leased assets in thereporting year that are the target of the goal (CO2 equivalent tons)
Scope 3 Category 14: Emissions from franchises in the reporting year that are
the target of the goal (CO2 equivalent tons)
Scope 3 Category 15: Emissions from investments in the reporting year thatare the target of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Upstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Emissions from Scope 3 Other (Downstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
Scope 3 emissions for the reporting year that are the target of the goal (CO2equivalent tons)
2,967,611
The total emissions (in CO2 equivalent tons) for the reporting year, targeting all
selected scopes' goals.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

2,967,611

Is land-related emission included in this goal?
No, land-related emissions are not included (e.g., non-FLAG SBT)
Percentage of Goal Achieved for the Base Year [auto-calculated]
128.4495288514
Status of the Goal for the Reporting Year
Achieved
Explain the scope of the goal and specify exclusions.
Mid-term goal: Established by the Board of Directors in accordance with the mid-term
management plan, aiming for a "27.5% reduction by the fiscal year 2030 (April 1,
2030, to March 31, 2031)."
Plan to achieve the goal and progress made at the end of the reporting year.
List the emission reduction initiatives that contributed most to achieving thegoal.
•
Promotion and expansion of ZEB and ZEH-M•
Utilization of low-carbon materials (such as the promotion of wooden and timber
construction).

Target reference number
Abs 5

Is this based on scientific evidence？
No, but we are reporting goals based on different scientific evidence.
Ambition level of the goal
Year of Target Implementation
2022
Target coverage
Company-wide
Scope(s)Scope1
Scope2
Scope3
Scope 2 accounting method
Market standards

83Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 category(ies)Category 1: Purchased Goods and Services
Category 2: Capital Goods
Category 3: Fuel and Energy-Related Activities (not included in Scope 1 and 2)
Category 4: Upstream Transportation and Logistics
Category 5: Waste Generated in Operations
Category 6: Business Travel
Category 7: Employee Commuting
Category 8: Upstream Leased Assets
Category 9: Downstream Transportation and Logistics
Category 10: Processing of Sold Products
Category 11: Use of Sold Products
Category 12: End-of-Life Treatment of Sold Products
Category 13: Downstream Leased Assets
Category 14: Franchises
Category 15: Investments
Other (Upstream)
Other (Downstream)
Base year
2020
Base year Scope 1 emissions targeted by the goals (metric tons CO2e)258,800
Base year Scope 2 emissions targeted by the goals (metric tons CO2e)118,700
Scope 3 Category 1 Base Year: Emissions (CO2-equivalent tons) frompurchased goods and services targeted by the goal.
1,741,300
Scope 3 Category 2 Base Year: Emissions (CO2-equivalent tons) from capital
goods targeted by the goal.
9,300
Scope 3 Category 3 Base Year: Emissions (CO2-equivalent tons) from fuel andenergy-related activities (not included in Scope 1 and 2) targeted by the goal.
16,700
Scope 3 Category 4 Base Year: Emissions (CO2-equivalent tons) fromupstream logistics targeted by the goal.
12,300
Scope 3 Category 5 Base Year: Emissions (CO2-equivalent tons) from waste
generated in operations targeted by the goal.
129,900

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 6 Base Year: Emissions (CO2-equivalent tons) frombusiness travel targeted by the goal.
2,200
Scope 3 Category 7 Base Year: Emissions (CO2-equivalent tons) from
employee commuting targeted by the goal.
25,900
Scope 3 Category 8 Base Year: Emissions (CO2-equivalent tons) fromupstream leased assets targeted by the goal.
200
Scope 3 Category 9 Base Year: Emissions (CO2-equivalent tons) fromdownstream logistics targeted by the goal.
50,100
Scope 3 Category 10 Base Year: Emissions (CO2-equivalent tons) fromprocessing of sold products targeted by the goal.
0
Scope 3 Category 11 Base Year: Emissions (CO2-equivalent tons) from use ofsold products targeted by the goal.
2,847,100
Scope 3 Category 12 Base Year: Emissions (CO2-equivalent tons) from end-oflife treatment of sold products targeted by the goal.
45,200
Scope 3 Category 13 Base Year: Emissions (CO2 equivalent tons) fromdownstream leased assets targeted for the goal.
29,800
Scope 3 Category 14 Base Year: Emissions (CO2 equivalent tons) from
franchises targeted for the goal.
0
Scope 3 Category 15 Base Year: Emissions (CO2 equivalent tons) frominvestments targeted for the goal.
0
Base Year Scope 3 Other (Upstream) Emissions targeted for the goal (CO2equivalent tons)
0Base Year Scope 3 Other (Downstream) Emissions targeted for the goal (CO2equivalent tons)
0
Total emissions from Scope 3 in the base year targeted for the goals (CO2equivalent tons).
4,910,000
Total base year emissions for all selected scopes targeted for the goals (CO2equivalent tons).
5,287,500

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Proportion of base year Scope 1 emissions targeted for the goals among thetotal base year Scope 1 emissions.
100
Proportion of base year Scope 2 emissions targeted for the goals among thetotal base year Scope 2 emissions.
100
Scope 3 Category 1 Base Year: The proportion of emissions from purchased
goods and services targeted for the goals, among the total emissions in the
Scope 3 Category 1 base year: Purchased goods and services (CO2 equivalenttons).
100
Scope 3 Category 2 Base Year: The proportion of emissions from capital goods
targeted for the goals, among the total emissions in the Scope Category 2 baseyear: Capital goods (CO2 equivalent tons).
100
Scope 3 Category 3 Base Year: The proportion of emissions from fuel andenergy-related activities (not included in Scope 1 and 2) targeted for the goals,
among the total emissions in the Scope 3 Category 3 base year: Fuel andenergy-related activities (not included in Scope 1 and 2) (CO2 equivalent tons).
100
Scope 3 Category 4 Base Year: The proportion of emissions from upstream
logistics targeted by the objectives, among the total emissions in the Scope 3
Category 4 base year: Upstream logistics (CO2 equivalent tons).
100
Scope 3 Category 5 Base Year: The proportion of emissions from waste
generated in operations targeted for the goals, among the total emissions in
the Scope 3 Category 5 base year: Waste generated in operations (CO2equivalent tons).
100
Scope 3 Category 6 Base Year: The proportion of emissions from businesstravel targeted for the goals, among the total emissions in the Scope 3
Category 6 base year: Business travel (CO2 equivalent tons).
100
Scope 3 Category 7 Base Year: The proportion of emissions from employee
commuting targeted for the goals, among the total emissions in the Scope 3
Category 7 base year: Employee commuting (CO2 equivalent tons).
100
Scope 3 Category 8 Base Year: The proportion of emissions from upstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 8 base year: Upstream leased assets (CO2 equivalent tons).
100

86Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 9 Base Year: The proportion of emissions from downstream
logistics targeted for the goals, among the total emissions in the Scope 3
Category 9 base year: Downstream logistics (CO2 equivalent tons).
100
Scope 3 Category 10 Base Year: The proportion of emissions from processingof sold products targeted for the goals, among the total emissions in the Scope
3 Category 10 base year: Processing of sold products (CO2 equivalent tons).
100
Scope 3 Category 11 Base Year: The proportion of emissions from the use ofsold products targeted for the goals, among the total emissions in the Scope 3
Category 11 base year: Use of sold products (CO2 equivalent tons).
100
Scope 3 Category 12 Base Year: The proportion of emissions from the disposalof sold products targeted for the goals, among the total emissions in the Scope
3 Category 12 base year: Disposal of sold products (CO2 equivalent tons).
100
Scope 3 Category 13 Base Year: The proportion of emissions from downstream
leased assets targeted for the goals, among the total emissions in the Scope 3
Category 13 base year: Downstream leased assets (CO2 equivalent tons).
100
Scope 3 Category 14 Base Year: The proportion of emissions from franchises
targeted for the goals, among the total emissions in the Scope 3 Category 14
base year: Franchises (CO2 equivalent tons).
100
Scope 3 Category 15 Base Year: The proportion of emissions from investments
targeted for the goals, among the total emissions in the Scope 3 Category 15
base year: Investments (CO2 equivalent tons).
100
Among the total emissions in the base year for Scope 3 Other (Upstream), theproportion of emissions from Scope 3 Other (Upstream) in the base year
targeted for the goals (CO2 equivalent tons).
100
Among the total emissions in the base year for Scope 3 Other (Downstream),
the proportion of emissions from Scope 3 Other (Downstream) in the base year
targeted for the goals (CO2 equivalent tons).
100
Proportion of baseline total emissions for Scope 3 that represents the baseline
emissions for the selected Scope 3 targets (all Scope 3 categories)
100
Proportion of selected Scope's baseline total emissions that represent thebaseline emissions for the selected Scope's targets.
100

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Target year
2050
Percentage reduction from baseline year (%)
100
Total emissions for the target year for all selected Scopes (CO2 equivalenttons) [Automatically calculated]0
Scope 1 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
283,753
Scope 2 emissions for the reporting year, which are the target for the goal
(CO2 equivalent tons)
46,179
Scope 3 Category 1: Emissions from purchased goods and services in thereporting year that are the target of the goal (CO2 equivalent tons)
1,779,778
Scope 3 Category 2: Emissions from capital goods in the reporting year thatare the target of the goal (CO2 equivalent tons)
19,562
Scope 3 Category 3: Emissions from fuel and energy-related activities in thereporting year that are the target of the goal and not included in Scope 1 and 2(CO2 equivalent tons)
46,068
Scope 3 Category 4: Emissions from upstream logistics in the reporting yearthat are the target of the goal (CO2 equivalent tons)
11,740
Scope 3 Category 5: Emissions from waste generated in operations in thereporting year that are the target of the goal (CO2 equivalent tons)
194,052
Scope 3 Category 6: Emissions from business travel in the reporting year thatare the target of the goal (CO2 equivalent tons)
3,053
Scope 3 Category 7: Emissions from employee commuting in the reporting
year that are the target of the goal (CO2 equivalent tons)
56,938
Scope 3 Category 8: Emissions from upstream leased assets in the reporting
year that are within the target scope (CO2 equivalent tons)
408
Scope 3 Category 9: Emissions from downstream logistics in the reporting
year that are the target of the goal (CO2 equivalent tons)
79,97388

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 Category 10: Emissions from processing of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)0
Scope 3 Category 11: Emissions from the use of sold products in the reporting
year that are the target of the goal (CO2 equivalent tons)
1,187,833
Scope 3 Category 12: Emissions from the disposal of sold products in thereporting year that are the target of the goal (CO2 equivalent tons)
50,031
Scope 3 Category 13: Emissions from downstream leased assets in thereporting year that are the target of the goal (CO2 equivalent tons)
24,677
Scope 3 Category 14: Emissions from franchises in the reporting year that are
the target of the goal (CO2 equivalent tons)0
Scope 3 Category 15: Emissions from investments in the reporting year thatare the target of the goal (CO2 equivalent tons)
0
Emissions from Scope 3 Other (Upstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)
0
Emissions from Scope 3 Other (Downstream) in the reporting year that are thetarget of the goal (CO2 equivalent tons)0
Scope 3 emissions for the reporting year that are the target of the goal (CO2equivalent tons)
3,454,113
The total emissions (in CO2 equivalent tons) for the reporting year, targeting all
selected scopes' goals.
3,784,045

Is land-related emission included in this goal?
No, land-related emissions are not included (e.g., non-FLAG SBT)
Percentage of Goal Achieved for the Base Year [auto-calculated]
28.4341371158
Status of the Goal for the Reporting Year
Under configuration
Explain the scope of the goal and specify exclusions.
Long-term goal: "Aiming to achieve carbon neutrality by the fiscal year 2050 (April 1,
2050, to March 31, 2051)."
Plan to achieve the goal and progress made at the end of the reporting year.
•
Introduction of alternative fuels to replace diesel.
•
Reduction of fuel consumption through the promotion of ICT-enabled efficiency
in construction.
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023••

Transition to renewable energy.
Promotion and expansion of Zero Energy Buildings (ZEB) and Zero Energy
Houses - Multi (ZEH-M).
•
Utilization of low-carbon materials (such as the promotion of wooden and timber
construction).
•
Promotion of technology development contributing to decarbonization.
List the emission reduction initiatives that contributed most to achieving the
goal.

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

Absolute/intensity emission target(s) linked to this net-zero target
Abs5

Target 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 target coverage and identify any exclusions
The scope of the program is company-wide.

Do you intend to neutralize any unabated emissions with permanent carbon
removals at the target year?
UnsurePlanned milestones and/or near-term investments for neutralization at target
year

Planned actions to mitigate emissions beyond your value chain (optional)
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

In the long-term vision "Obayashi Sustainability Vision 2050" formulated in 2019, we
continued the goal-setting from the previous environmental vision, "Obayashi Green Vision
2050" (established in 2011). By cross-referencing and scrutinizing the goal-setting methodwith the SBT (Science-Based Targets) criteria, we established the targets and obtained SBT
certification in October 2022.

C4.3(C4.3) Did you have emissions reduction initiatives that were active within thereporting 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

Implementationcommenced*

00

Implemented*

453,008.2

Not to be implemented 0

0

C4.3b
(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) or Scope 3 category(ies) where emissions savings occur
Scope 2 (market-based)

Voluntary/ Mandatory
Voluntary

Annual monetary savings (unit currency – as specified in C0.4)
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

89,488,000

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

Initiative category and Initiative type
Energy efficiency in production processes
Process optimization

Estimated annual CO2e savings (metric tons CO2e)14,405

Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 1

Voluntary/ Mandatory
Voluntary

Annual monetary savings (unit currency – as specified in C0.4)
736,956,000

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 typeLow-carbon energy consumption
Others, please specify
Substitute for diesel fuel92

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Estimated annual CO2e savings (metric tons CO2e)
246.2

Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 1

Voluntary/ Mandatory
Voluntary

Annual monetary savings (unit currency – as specified in C0.4)
0Investment required (unit currency – as specified in C0.4)
2,405,000

Payback period
1-3 years

Estimated lifetime of the initiative
11-15 years

Comment
K-S1, GTL usage

Initiative category and Initiative type
Energy efficiency in the production process
Process optimization

Estimated annual CO2e savings (metric tons CO2e)
36,067

Scope(s) or Scope 3 category(ies) where emissions savings occur
Scope 2 (market-based)

Voluntary/ Mandatory
Voluntary

Annual monetary savings (unit currency – as specified in C0.4)
0Investment required (unit currency – as specified in C0.4)
22,698,920

Payback periodLess than 1 year

Estimated lifetime of the initiative
21-30 years

93Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Comment
Renewable Energy and Non-Fossil CertificatesC4.3c(C4.3c) What methods do you use to drive investment in emissions reduction
activities?
MethodComment

Dedicated budget forenergy efficiency

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

Internal
incentives/recognition
programs

We have an "environmental award" system for initiatives onenvironmental effects (reducing greenhouse gas emissions, reducing
energy usage, increasing efficiency) that constitute activities ofremarkable merit or that are otherwise exemplary. Moreover, thepersonnel evaluation of employees include items on environmentrelated initiatives, which are reflected in salaries.

Dedicated budget for other Budget for promoting the renewable energy business of the Obayashi
emissions reduction
Corporation and Group companies. Includes business review budget
activities
and technological development budget for solar and biomass power
generation, hydrogen use, and so forth.

C4.5(C4.5) Do you classify any of your existing goods and/or services as low-carbon
products?
Yes

C4.5a
(C4.5a) Provide details of your products and/or services that you classify as lowcarbon products.

Level of aggregation
Product or service

Taxonomy used to classify product(s) or service(s) as low-carbon
Other, please specify
JISType of product(s) or service(s)Cement and concrete
Other, please specify
Low carbon concrete

Description of product(s) or service(s)94Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

By reusing blast furnace slag fine powder and other by-products generated at steel
mills, CO2 emissions from materials used have been significantly reduced (by up to80%).

Have you estimated the avoided emissions of this low-carbon product(s) or
service(s)YesMethodology used to calculate avoided emissions
The Avoided Emissions Framework (AEF)

Life cycle stage(s) covered for the low-carbon product(s) or services(s)General Concrete(From product development to shipment)

Functional unit used
ｔ-CO2

Reference product/service or baseline scenario used
General ConcreteLife cycle stage(s) covered for the reference product/service or baseline
scenario
Cradle-to-gate(From product development to shipment)

Estimated avoided emissions (metric tons CO2e per functional unit) compared
to reference product/service or baseline scenario
3,957

Explain your calculation of avoided emissions, including any assumptions
The Obayashi Corporation's low-carbon concrete, Clean-Crete, is a concrete that reduces

CO2 emissions by up to 80% compared to ordinary concrete by replacing some of thecement with blast furnace slag fine powder, a by-product of steel production, and fly ash, aby-product of coal-fired power generation. While the production of ordinary concrete emits
approximately 260 kg of CO2 per m3, the production of Clean-Crete can reduce CO2
emissions by up to approximately 50 kg, resulting in a maximum emissions reduction of
approximately 80%.

Revenue generated from low-carbon product(s) or service(s) as % of total
revenue in the reporting year
0.6

Level of aggregation
Product or service

Taxonomy used to classify product(s) or service(s) as low-carbon
Other, please specify
CASBEE
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Type of product(s) or service(s)Buildings construction and renovation
Other, please specify
Construction of buildings with specifications compliant with CASBEE criteria

Description of product(s) or service(s)CASBEE is a system that evaluates environmental performance by calculating
emissions, etc. during building operation at the time of design. It enables comparisonand calculation of reductions because emissions during operation can be calculated forboth the designed property and a typical building.

Have you estimated the avoided emissions of this low-carbon product(s) or
service(s)YesMethodology used to calculate avoided emissions
Estimating and Reporting the Comparative Emissions Impacts of Products (WRI)

Life cycle stage(s) covered for the reference product/service or baseline
scenario
Use stage

Functional unit used
ｔ-CO2

Reference product/service or baseline scenario used
Reference building in CASBEE calculations

Life cycle stage(s) covered for the reference product/service or baseline
scenario
Use stage

Estimated avoided emissions (metric tons CO2e per functional unit) compared
to reference product/service or baseline scenario
14,940Explain your calculation of avoided emissions, including any assumptions
When environmental performance is evaluated by CASBEE, emissions during building
operation can be calculated per unit area. In this process, the emissions of a typical building
are calculated as the reference building and the emissions of the designed building as thebuilding in question, so the difference between the two can be calculated as the CO2
emission reduction rate and the amount of reduction.
For example, if the reference building is 100 kg-CO2/m2/year and the building in question is
70 kg-CO2/m2/year, then 1-80/100 = 0.2, a 20% reduction rate. If the total floor area is
10,000 m2, the reference building is 100 kg-CO2/m2/year x 10,000 m2 = 1,000 t-CO2/year,96

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

and the building in question is 80 kg-CO2/m2/year x 10,000 m2 = 800 t-CO2/year, resulting
in an annual reduction of 1000 - 800 = 200 t-CO2/year.

Revenue generated from low-carbon product(s) or service(s) as % of total
revenue in the reporting year
45

C5 Emissions methodology
C5.1(C5.1) Is this your first year of reporting emissions data to CDP?
No

C5.1a
(C5.1a) Has your organization undergone any structural changes in the reporting year,
or are any previous structural changes being accounted for in this disclosure ofemissions data?
Row1
Has there been a structural change?
No

C5.1b
(C5.1b) Has your emissions accounting methodology, boundary, and/or reporting year
definition changed in the reporting year?
Change(s) in methodology, boundary, The details of change in methodology, boundary,
and/or reporting year definition?
and/or reporting year definition.
Row1 Yes, changes to the boundary.

Until CDP 2022 (performance for the fiscal year 2021), we
reported individual domestic achievements. However,from CDP 2023 (performance for the fiscal year 2022), we
will be reporting consolidated achievements for the
Obayashi Group.

C5.1c(C5.1c) Have your organization’s base year emissions and past years’ emissions beenrecalculated as a result of any changes or errors reported in C5.1a and/or C5.1b?
Base Scope(s)yearrecalculated
recalculationBase year emissions recalculation policy, including
significance threshold

Past years’
recalculation

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Row Yes1

Scope 1
Scope 2, Marketbased Scope 3

The emission calculation boundary reported individualNo
domestic achievements until CDP 2022 (performancefor the fiscal year 2021). However, starting from CDP
2023 (performance for the fiscal year 2022), we reportconsolidated achievements for the Obayashi Group. It
should be noted that the CO2 reduction targets alignwith SBT certification, and the reference year has beenchanged to 2019. By comparing the newly set reference
year of 2019, the total emissions for Scope 1, 2, and 3
increased by approximately 22%, reaching 4,340.6
thousand t-CO2 for the individual and 5,287.5 thousand
t-CO2 for the consolidated group.

C5.2(C5.2) Provide your base year and base year emissions.
Scope 1
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)258,800

Comment

Scope 2(location-based)
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
123,900

Comment

Scope 2(market-based)
Base year start
1st April, 201998

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)118,700

Comment

Scope 3 category 1: Purchased goods and services
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
1,741,300

Comment

Scope 3 category 2: Capital goods
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
9,300

Comment

Scope 3 category 3: Fuel-and-energy-related activities (not included in Scope 1 or
2)
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
16,700Comment

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 category 4: Upstream transportation and distribution
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
12,300Comment

Scope 3 category 5: Waste generated in operations
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
129,900

Comment

Scope 3 category 6: Business travel
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
2,200Comment

Scope 3 category 7: Employee commuting
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)25,900100

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Comment

Scope 3 category 8: Upstream leased assets
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)200

Comment

Scope 3 category 9: Downstream transportation and distribution
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)50,100Comment

Scope 3 category 10: Processing of sold products
Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment
Not relevant
As a construction company, the company's end product is construction products.
Therefore, the company does not sell intermediate products.

Scope 3 category 11: Use of sold products
Base year start
1st April, 2019101

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)
2,847,100

Comment

Scope 3 category 12: End of life treatment of sold products
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)45,200Comment

Scope 3 category 13: Downstream leased assets
Base year start
1st April, 2019

Base year end
31st March, 2020

Base year emissions (metric tons CO2e)29,800Comment

Scope 3 category 14: Franchises
Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment
Not relevant
As the largest general construction company in Japan, the main business is large-scale102

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

construction work, which differs from management development through franchising, as
is carried out by housing manufacturers. Therefore, the question is not relevant because
the company does not engage in any business that falls under the category of franchise.

Scope 3 category 15: Investments
Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment
Not relevant
According to the Basic Guidelines for Calculating Greenhouse Gas Emissions throughSupply Chains issued by the Ministry of the Environment and the Ministry of Economy,
Trade and Industry, the category concerned applies to investment businesses(businesses that invest for profit) and businesses that provide financial services and aremainly for private financial institutions (commercial banks, etc.). This does not apply to
our business as a construction company.

Scope 3: Other (upstream)
Base year start

Base year end

Base year emissions (metric tons CO2e)

Comment
Not relevant
CO2 emissions associated with manufacturing of leased assets (upstream), such as
construction machinery and temporary materials used at construction sites and fixturesand fittings used at offices, were not calculated because it is difficult to obtain
information due to the wide variety of lease sources.

Scope 3: Other (downstream)
Base year start

Base year end

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Base year emissions (metric tons CO2e)

Comment
Not relevant
CO2 emissions from dismantling and disposal of leased assets (downstream), namely
construction equipment and temporary materials used at construction sites and fixturesand fittings used at offices, were not calculated because it is difficult to obtain
information due to the wide range of leased assets.

C5.3(C5.3) Select the name of the standard, protocol, or methodology you have used tocollect activity data and calculate emissions.
Other, please specify
Environmental Accounting Guidelines for the Construction Industry (Japan Construction Industry
Association)

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)283,753

Comment

C6.2(C6.2) Describe your organization's approach to reporting Scope 2 emissions.
Row1
Scope 2, location-based
We are reporting a Scope 2, location-based figure

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

Comment

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

C6.3
(C6.3) What were your organization's gross global Scope 2 emissions in metric tons
CO2e?
Reporting year
Scope 2, location-based
47,759

Scope 2, market-based (if applicable)
46,179Comment

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
and explaining any exclusions.
Purchased goods and services
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
1,779,778

Emissions calculation methodology
Spend-based method

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation. We always keep trackof the results of purchases and procurement from material manufacturers in construction
through the in-house system. This resulted in the calculation of the amount of major
construction materials (steel frame, rebar, cement, ready-mixed concrete, and water) to
be used in FY2022. The CO2 emissions intensity during material production takes into
account the life cycle assessment and uses the LCI database IDEAv2.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Capital goods
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
19,562Emissions calculation methodology
Spend-based method

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

Please explain
Calculated on a consolidated basis for the Corporation.

Fuel-and-energy-related activities (not included in Scope 1 or 2)
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)46,068Emissions calculation methodology
Average data method

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation. 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 ofenergy greenhouse gas composition."

Upstream transportation and distribution
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
11,740Emissions calculation methodology
Spend-based method
Fuel-based method

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Distance-based method

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation. The corporation
constantly monitors records of purchases and procurement from material makers
during construction, doing so via our internal management systems. The Company
calculated the weight of each major material based on the construction andprocurement results for FY2022. Referencing the survey results of the former
Environmental Load Expert Committee of the BCS (present-day Japan Federation ofConstruction Contractors), we estimate the average transportation distance for eachmaterial and use emission intensity from the fuel use intensity of the ton-kilometer
method.

Waste generated in operations
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
194,052

Emissions calculation methodology
Waste-type-specific method
Other, please specify
Waste emissions from new construction x CO2 emissions intensity of treatment anddisposal

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.
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, calculated107

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Emissions in reporting year (metric tons CO2e)
3,053

Emissions calculation methodology
Other, please specify
The Company calculated the emissions intensity per employee based on the
Guidelines for Calculating Greenhouse Gas Emissions through Supply Chainsissued by the Ministry of the Environment and the Ministry of Economy, Trade andIndustry of Japan [Number of employees x CO2 emission intensity per employee].

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.

Employee commuting
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)56,938Emissions calculation methodology
Other, please specify
Based on the Basic Guidelines for Calculating Greenhouse Gas Emissions throughSupply Chains issued by the Ministry of the Environment and the Ministry of
Economy, Trade and Industry, the Company calculated the emissions intensity forconstruction worker commuting based on [distance travelled/fuel consumption x
CO2 emissions intensity from diesel oil] and for employee commuting based on[transportation expense paid by each transportation category x emissions intensity
per transportation expense paid by each transportation category].

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.
Based on the Basic Guidelines on Calculating Greenhouse Gas Emissions throughSupply Chains of the Ministry of the Environment and the Ministry of Economy,
Trade and Industry,
1. we calculate CO2 emissions from construction worker commutes by multiplying theCO2 emission coefficient by the amount of diesel used from average commute
distance, number of persons traveling together, and fuel, converted using the total
number of workers from labor safety management data.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

2.CO2 emissions from employee commutes is calculated multiplying allowance forcommuting 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

Emissions in reporting year (metric tons CO2e)408

Emissions calculation methodology
Other, please specify
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
Calculated on a consolidated basis for the Obayashi Corporation.
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 (13 locations) inISO14001 and EMS (Environmental Management System).

Downstream transportation and distribution
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
79,973Emissions calculation methodology
Other, please specify
Waste emissions from new construction and dismantling x average transportation
distance x CO2 emission intensity

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

109

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

100

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.
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

Emissions in reporting year (metric tons CO2e)
1,187,833

Emissions calculation methodology
Other, please specify
The amount is recorded for the year of completion of construction in FY2022. The
calculation is based on the CASBEE emissions per area during operation of the inhouse-designed and -constructed property x total floor area x 35 years in service.

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.
The amount is recorded for the year of completion of construction in FY2022. The
calculation is based on the CASBEE emissions per area during operation of the inhouse designed and constructed property x total floor area x 35 years in service.

End of life treatment of sold products
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
50,031

Emissions calculation methodology
Waste-type-specific method
Other, please specify

110Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Waste emissions from dismantling x CO2 emission intensity from processing anddisposal

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.
CO2 emissions accompanying construction and building dismantling are calculated
according to the case, including structure and usage. Moreover, for buildings designed
by ourselves, 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. Therefore, fordisposal of products sold, the Company decided to use the CO2 emissions fromconstruction waste from demolition work (including demolition of existing structures for
new construction) for which the company received orders in FY2022, instead ofdemolition treatment and disposal for projects constructed, as the CO2 emissions fromthe treatment and disposal of such waste. Moreover, we count CO2 emissions fromtransportation of construction waste in connection with dismantling as emissions fromwaste transportation under a separate item for emission sources called [Downstream
transportation and distribution].

Downstream leased assets
Evaluation status
Relevant, calculated

Emissions in reporting year (metric tons CO2e)
24,677

Emissions calculation methodology
Lessor-specific method

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

Please explain
Calculated on a consolidated basis for the Obayashi Corporation.
Calculated based on the leased building area x Building Energy Consumption Survey
Report [Report 44].

Franchises
Evaluation status
111

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

C-CN6.6/C-RE6.6(C-CN6.6/C-RE6.6) Does your organization assess the life cycle emissions of new
construction or major renovation projects?
Assessment Commentof life cycle
emissions
Row1 Yes,
quantitative
assessment

When undertaking new construction or large-scale renovation
projects, the construction industry categorizes projects based on thecontracting method into those that involve both design andconstruction (design-build) and those that only involve construction.
Projects with design and construction contracts offer a more proactive
consideration and implementation of GHG emissions throughout the
lifecycle. Within the Obayashi Group, for nearly all new construction
projects with design and construction contracts, environmental
performance is evaluated using 'CASBEE.
In 'CASBEE,' environmental efficiency and lifecycle CO2 areevaluated criteria. For lifecycle CO2 emissions, a warming impact
chart compares the reference value with the evaluated LCCO2 of thetarget building as follows:①Reference value (LCCO2 of a standard building assumed to haveenergy-saving performance equivalent to the judgment criteria of theEnergy Conservation Law, corresponding to the judgment criteria ofbuilding owners under energy-saving laws).
②Evaluated LCCO2 of the target building (assessment includes
efforts such as the use of eco-materials, building longevity, andenergy efficiency in building practices).
③Results incorporating on-site methods other than those in (2) (e.g.,
on-site solar power generation).
④Results incorporating both the evaluated LCCO2 of the target
building in (2) and off-site methods (e.g., introduction of green power
certificates, implementation of carbon credits).
Regarding the evaluated LCCO2 of the target building in (2), theannual emissions per floor area are calculated by combining all
stages—construction, repair/renovation/demolition, and operation—toderive the "lifecycle" emissions. Therefore, a quantitative evaluation isconducted for each property in the respective fiscal year based on thisnumerical value.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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
assessed

Earlies Life cycle Methodologies/stand Commentt
stage(s)ards/tools applied
project mostphase commonly
thatcovered
most
comm
only
includes anassessment

RAll new Design Cradle-to- GHG Protocol - Product CASBEE (Comprehensive Assessment
Life Cycle Accounting
oconstru phase gate
System for Building Environmental
and Reporting Standardw
ction
Efficiency) is a system that
1andcomprehensively evaluates the quality
major
of a building, including environmental
renovati
considerations such as the use ofonenergy-efficient and environmentally
projects

friendly materials, as well as factors
like indoor comfort and landscapeawareness.
Established as a collaborative project
supported by the Ministry of Land,
Infrastructure, Transport, andTourism's Housing Bureau in April
2001, CASBEE set up the Committee
for Comprehensive Environmental
Assessment of Buildings.
Subsequently, the former General
Foundation for Building Environment
and Energy Conservation, currently
IBECS (Institute for Building
114

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Environment and Energy
Conservation), and JSBC (Japan
Sustainable Building Consortium) havebeen responsible for its ongoingdevelopment and maintenance.
Within the Obayashi Group, consideringthat buildings are used for several
decades, the annual emissions per floorarea during the "operation" phasecalculated by CASBEE are evaluated incomparison to the same emissions forthe reference building. The goal is toset and assess targets based on thisratio annually, aiming to provide
buildings that are consistently moreadvanced in the market than the
average building indicated by CASBEE.
CASBEE evaluates environmental
efficiency and lifecycle CO2, comparing
the reference value and the evaluated
LCCO2 of the target building using a
warming impact chart for lifecycle CO2
emissions. This comparison includes:①Reference value (LCCO2 of astandard building assuming energysaving performance equivalent to the
judgment criteria of the Energy
Conservation Law),②Evaluated LCCO2 of the target
building (considering efforts such as theuse of eco-materials, building longevity,and energy efficiency in building
practices),③Results using on-site methods otherthan those in (2) (e.g., on-site solar
power), and ④Results using both onsite and off-site methods (e.g.,
introduction of green power certificates,
implementation of carbon credits).

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

CASBEE uses the 2005 Industrial InputOutput Analysis by the Architectural
Institute of Japan as the source for
embodied CO2 calculation methods andCO2 emission unit data in the LCCO2
calculation conditions sheet. The
Environmental Impact Unit Data Book
(3EID) based on industrial input-output
analysis is included as one of the ThirdParty Databases for greenhouse gas
emissions, complying with the GHG
Protocol's calculation standards for
scope 3 emissions.

C-CN6.6b/C-RE6.6b(C-CN6.6b/C-RE6.6b) Can you provide embodied carbon emissions data for any ofyour organization’s new construction or major renovation projects completed in thelast three years?
Ability todiscloseembodiedcarbonemissions
Row1 Yes

Comment

The Obayashi Group assesses the buildings it designs and constructs in agiven 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.
The actual values are: FY2020 = 33,300 t-CO2, FY2021 = 22,700 t-CO2,
FY2022 = 14,900 t-CO2

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 completion
2022

Property sector
Other, please specify
New design and construction projects

Type of project116

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

New construction

Project name/ID (optional)
Newly designed and constructed properties in FY2022

Life cycle stage(s) covered
Cradle-to-grave

Normalization factor (denominator)
Other, please specify
Based on calculation method according to the Building Standards Law

Denominator unit
square meter

Embodied carbon (kg/CO2e per the denominator unit)
14,940,000(%) of new construction/major renovation projects in the last three years
covered by this metric (by floor area)
21.03

Methodologies/standards/tools applied
GHG Protocol - Product Life Cycle Accounting and Reporting Standard

Comment
For the fiscal year 2022, the annual emission total of the "reference building" and the"subject building" is calculated from the operational emissions according to CASBEE for
newly constructed design-build projects. The reduction amount is then calculated as thedifference. The coverage ratio is calculated as the ratio of the constructed floor area
over the past three years. In the CASBEE LCCO2 calculation conditions sheet, theembodied CO2 calculation method and the source of CO2 emission units use the resultsof the 2005 Industrial Input-Output Analysis by the Architectural Institute of Japan. The
Environmental Impact Unit Data Book (3EID) based on industrial input-output analysis islisted as one of the Third-Party Databases for greenhouse gas emissions, complying
with the GHG Protocol's calculation standards for scope 3 emissions.

Year of completion
2021

Property sector
Other, please specify
New design and construction projects

Type of project
New construction

Project name/ID (optional)
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

New design and construction projects in FY2021

Life cycle stage(s) covered
Cradle-to-grave

Normalization factor (denominator)
Other, please specify
Based on calculation method according to the Building Standards Law

Denominator unit
square meter

Embodied carbon (kg/CO2e per the denominator unit)
22,712,000(%) of new construction/major renovation projects in the last three years
covered by this metric (by floor area)
31.97

Methodologies/standards/tools applied
GHG Protocol - Product Life Cycle Accounting and Reporting Standard
Comment
For the fiscal year 2021, the annual emission total of the "reference building" and the"subject building" is calculated from the operational emissions according to CASBEE for
newly constructed design-build projects. The reduction amount is then calculated as thedifference. The coverage ratio is calculated as the ratio of the constructed floor area
over the past three years. In the CASBEE LCCO2 calculation conditions sheet, theembodied CO2 calculation method and the source of CO2 emission units use the resultsof the 2005 Industrial Input-Output Analysis by the Architectural Institute of Japan. The
Environmental Impact Unit Data Book (3EID) based on industrial input-output analysis islisted as one of the Third-Party Databases for greenhouse gas emissions, complying
with the GHG Protocol's calculation standards for scope 3 emissions.

Year of completion
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 FY2020

Life cycle stage(s) covered
Cradle-to-grave118

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Normalization factor (denominator)
Other, please specify
New design and construction projects

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
covered by this metric (by floor area)
47

Methodologies/standards/tools applied
GHG Protocol - Product Life Cycle Accounting and Reporting Standard

Comment
For the fiscal year 2020, the annual emission total of the "reference building" and the"subject building" is calculated from the operational emissions according to CASBEE for
newly constructed design-build projects. The reduction amount is then calculated as thedifference. The coverage ratio is calculated as the ratio of the constructed floor area
over the past three years. In the CASBEE LCCO2 calculation conditions sheet, theembodied CO2 calculation method and the source of CO2 emission units use the resultsof the 2005 Industrial Input-Output Analysis by the Architectural Institute of Japan. The
Environmental Impact Unit Data Book (3EID) based on industrial input-output analysis islisted as one of the Third-Party Databases for greenhouse gas emissions, complying
with the GHG Protocol's calculation standards for scope 3 emissions.

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 thereporting 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
16.63

Metric numerator (Gross global combined Scope 1 and 2 emissions, metrictons CO2e)329,932

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Metric denominator
unit total revenue

Metric denominator: Unit total
19,838.9

Scope 2 figure used
Market-based% change from previous year
11.89

Direction of change
Decreased

Reason for change
Changes in renewable energy consumption
Other emission reduction activities
Changes in boundaries.

Explanation
The Obayashi Group total income (sales) intensity. Sales increased by 3.2% comparedto the previous fiscal year. Engaging in CO2 emission reduction activities such as theintroduction of light oil substitute fuels, promotion of ICT labor-saving construction to
reduce fuel consumption, and transition to renewable energy, the CO2 emissions for the
fiscal year 2022 were reduced by 9.1%. The sales intensity for the fiscal year 2022
decreased by 11.89% compared to the fiscal year 2021.

Intensity figure
11.33

Metric numerator (Gross global combined Scope 1 and 2 emissions, metrictons CO2e)
144,845

Metric denominator
Other, please specify
Construction amount

Metric denominator: Unit total
12,779

Scope 2 figure used
Market-based% change from previous year
22.11

Direction of change
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Decreased

Reason for change
Changes in renewable energy consumption
Other emission reduction activities

Explanation
Construction amount intensity. The denominator is the construction amount for theconstruction work, which is a major business of the Obayashi Corporation in the fiscal
year 2022. The construction amount decreased by 4.3% compared to the previous fiscal
year. Engaging in CO2 emission reduction activities such as the introduction of light oil
substitute fuels, promotion of ICT labor-saving construction to reduce fuel consumption,and transition to renewable energy, the CO2 emissions for the fiscal year 2022 werereduced by 25.5%. The construction amount intensity for the fiscal year 2022 decreased
by 22.1% compared to the fiscal year 2021.

C7 Emissions breakdown
C7.1(C7.1) Does your organization break down its Scope 1 emissions by greenhouse gas
type?
No

C7.2
(C7.2) Break down your total gross global Scope 1 emissions by country/area/region.
Country/Area/Region

Scope 1 emissions (metric tons CO2e)Japan

226,857

North America

32,090Please provide more specific details.

24,465

Asia
Western Europe

341

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

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

Scope 1 emissions (metric tons CO2e)121

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Civil engineering construction site

120,499

Building construction site

93,373

Other (Factory)

69,154

Other (Office)

727

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

Scope 1 emissions (metric tons CO2e)

Construction

213,872

Factory

69,154

Office727

C7.5(C7.5) Break down your total gross global Scope 2 emissions by country/region.
Country/Area/Region

Scope 2, location-based(metric tons CO2e)

Scope 2, market-based(metric tons CO2e)Japan

27,95527,030

North America

11,16910,800Please provide more specificdetails.

8,516

8,234

119

115

Asia
Western Europe

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.
Business division

Scope 2, location-based (metrictons CO2e)

Scope 2, market-based (metrictons CO2e)

Civil engineering
construction site

20,69820,013

Building construction site

16,977

16,415

Other (Factory)

5,073

4,906

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Other (Office)

5,011

4,845

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

Scope 2, location-based (metric tons Scope 2, market-based (metric tons
CO2e)
CO2e)

Construction

37,67536,428

Factory

5,073

4,906

Office

5,011

4,845

C7.7
(C7.7) Is your organization able to break down your emissions data for any of thesubsidiaries included in your CDP response?
Yes

C7.7a
(C7.7a) Break down your gross Scope 1 and Scope 2 emissions by subsidiary.
Subsidiary Name
2022 Obayashi Road Corporation

Main Business Activities
Non-residential building construction

Please select the unique ID that your company can provide for this subsidiary.
There is no unique ID

ISIN Code – Bonds
ISIN Code - Stocks
CUSIP Number
Ticker Symbol
SEDOL CodeLEI Number
Other Unique IDs
Please select the unique ID that your company can provide for this subsidiary.
Scope 1 Emissions (CO2 equivalent tons)
123Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

71,909
Scope 2 Emissions, Location-Based (CO2 equivalent tons)
14,219
Scope 2 Emissions, Market-Based (CO2 equivalent tons)
13,749Comments

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

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 theprevious year.
ReasonChange in
Direction
emissionsof change(metric tons
CO2e)Change inrenewableenergyconsumption

12,022Emissionsvalue(percentage)

Decreased 6.19

Please explain calculation

In the fiscal year 2022, the total CO2
emissions (Scope 2) decreased by
12,022 t-CO2 due to the switch torenewable energy for electricity and the
procurement of renewable energyderived electricity using non-fossil
certificates.
The percentage of the reduction in the
total CO2 emissions (Scope 1 + 2) for
the fiscal year 2021 in terms of thechange amount (reduction amount) is
12,022 t-CO2 / 194,363 t-CO2 = 6.19%.
(Reported value for the fiscal year 2021
(actual performance for the fiscal year2021): 194,363 t-CO2 (*))
*The actual performance for the fiscal
year 2021 has been revised from theprevious CDP response value based on
third-party verification..

Otheremissions

2,290

Decreased 1.18

In the fiscal year 2022, the total CO2
emissions (Scope 2) decreased by an
estimated 2,290 t-CO2 due to the124

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reduction
activities

promotion of LED conversion for
temporary lighting at the Obayashi
Corporation Construction sites. The
percentage of the reduction in the total
CO2 emissions (Scope 1 + 2) for the
fiscal year 2021 in terms of the changeamount (reduction amount) is 2,290 tCO2 / 194,363 t-CO2 = 1.18%.
(Reported value for the fiscal year 2021
(actual performance for the fiscal year2021): 194,363 t-CO2 (*))
The actual performance for the fiscal
year 2021 has been revised from theprevious CDP response value based on
third-party verification.

Divestment0

No change 0

Not Applicable

Acquisitions

0

No change 0

Not Applicable

Mergers0

No change 0

Not Applicable

Change in
output185,087

Increased

Change inmethodology0

No change 0

Not Applicable

Change inboundary0

No change 0

In the fiscal year 2022, the total CO2
emissions (Scope 1 + Scope 2)
increased by 185,087 t-CO2 due to achange in the reporting boundary fromdomestic standalone to the entire group.
The percentage of the change amount

95.23

Emissions in FY2021 (Scope 1)
increased by 32,760 t-CO2 compared to
FY2020, mainly due to the greater useof heavy excavation equipment andpile-driving machines at construction
sites than in FY2020, despite efforts to
reduce CO2 emissions through fuelefficient operations at construction sites,
etc. The ratio of the amount of change(increase) to the total amount of CO2
emissions (Scope 1 + 2) in FY2020(reported value for FY2020 (actual value
for FY2020): 170,421t-CO2 (*)) was
32,760t-CO2/170,421t-CO2 = 19.22%.
* The FY2020 actual values have beenchanged from the previous CDP
response values due to third-party
verification.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

(increase amount) in the total CO2
emissions (Scope 1 + 2) for the fiscal
year 2021 is 185,087 t-CO2 / 194,363 tCO2 = 95.23%.
(Reported value for the fiscal year 2021
(actual performance for the fiscal year2021): 194,363 t-CO2 (*))
*The actual performance for the fiscal
year 2021 has been revised from theprevious CDP response value based on
third-party verification.
Change inphysicaloperatingconditions

0

No change 0

Not Applicable

Unidentified0

No change 0

Not Applicable

Other

0

No change 0

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

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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

Heatingvalue

MWh from
renewable
sources

MWh from nonrenewablesources

Total (renewable +non-renewable)
MWhConsumption of fuel(excluding feedstock)

HHV (higher
heatingvalue)

0514,790514,790

Consumption ofpurchased or acquired
electricity

174,722

122,837

297,559

Consumption ofpurchased or acquired
steam

0

4

4

Consumption of selfgenerated non-fuelrenewable energy

2,184

Total energy
consumption

176,906

2,184

637,631814,537

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

Indicate whether your organization undertakes thisfuel application

Consumption of fuel for the generation ofelectricity

Yes

Consumption of fuel for the generation of
heat

No

Consumption of fuel for the generation of
steam

No

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Consumption of fuel for the generation ofcooling

No

Consumption of fuel for co-generation or
tri-generation

Yes

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

Total fuel MWh consumed by the organization0

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
0

Comment

Other biomass
Heating value
HHV

Total fuel MWh consumed by the organization0

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
0

Comment

Other renewable fuels (e.g. renewable hydrogen)128

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Heating value
HHV

Total fuel MWh consumed by the organization0

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
0

Comment

Coal
Heating value
HHV

Total fuel MWh consumed by the organization0

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
0

Comment

Oil
Heating value
HHV

Total fuel MWh consumed by the organization
513,653

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

0

Comment

Gas
Heating value
HHV

Total fuel MWh consumed by the organization
1,137

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
73

Comment

Other non-renewable fuels (e.g. non-renewable hydrogen)Heating value
HHV

Total fuel MWh consumed by the organization0

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
0

Comment

Total fuelHeating value
HHV

Total fuel MWh consumed by the organization
514,790130

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self- cogeneration or self-trigeneration
73

Comment

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

Total Gross
generation(MWh)

Generation that isconsumed by theorganization (MWh)Gross generation Generation fromfrom renewable
renewable sources thatsources (MWh)is consumed by theorganization (MWh)Electricity

2,412

2,387

2,209

2,184

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 thatwere accounted for at a zero or near-zero emission factor in the market-based Scope
2 figure reported in C6.3.

Countries/Regions with Low Carbon Energy Consumption
Japan

Sourcing method
Procurement of Electricity and Separated Energy Attribute Certificates (EACs)

Energy carrier
Electricity

Low-carbon technology type
Renewable energy mix, please specify
Solar power, wind power, biomass, etc.

Low-carbon energy consumed via selected sourcing method in the reporting
year (MWh)142,335131

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Tracking instrument used
NFC – Renewable

Country/area of origin (generation) of the low-carbon energy or energy
attributeJapan

Can you report the year of commissioning or repowering of the power
generation facility?
Yes

Year of commencement of operation for the power generation facility (e.g.,
date of initial commercial operation or repowering).
2022

Comment

Countries/Regions with Low Carbon Energy Consumption
Japan

Sourcing method
The default supply electricity from a system backed by energy attribute certification(e.g., standard products provided by energy suppliers).

Energy carrier
Electricity

Low-carbon technology type
Renewable energy mix, please specify
Solar power, wind power, biomass, etc.

Low-carbon energy consumed via selected sourcing method in the reporting
year (MWh)32,387

Tracking instrument used
NFC – Renewable

Country/area of origin (generation) of the low-carbon energy or energy
attributeJapan

Can you report the year of commissioning or repowering of the power
generation facility?
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Yes

Year of commencement of operation for the power generation facility (e.g.,
date of initial commercial operation or repowering).
2022

Comment

C8.2g(C8.2g) Provide a breakdown by country/area of your non-fuel energy consumption in
the reporting year.
Country/areaJapan

Consumption of purchased electricity (MWh)297,559

Consumption of self-generated electricity(MWh)2,184Consumption of purchased heat, steam, and cooling (MWh)4Consumption of self-generated heat, steam, and cooling (MWh)0Total non-fuel energy consumption (MWh) [Auto-calculated]
299,747

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

Description
Waste

Metric value
17.4

Metric numerator
Construction waste emissions from new construction (excl. sludge) [t]133Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Metric denominator (intensity metric only)
Civil engineering construction volume for that year [100,000,000 yen]

% change from previous year
11.5

Direction of change
Increased

Please explain
The total amount of construction waste excluding sludge in new construction projects isaggregated from manifests, and the construction volume per construction unit iscalculated based on the annual construction volume of new construction projects. The
evaluation of emission reduction efficiency is conducted by observing changes over theyears based on the construction volume ratio. The increase in the fiscal year 2022
compared to the fiscal year 2021 is attributed to the growing use of the reverse method
in large-scale projects.

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(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
Row1 Yes

Comment

The Obayashi Corporation is a construction business and is investing in thedevelopment of technologies for environmental performance andconstruction that conserve energy as low-carbon products as well as
technologies for building management as services. In FY2022,"environment-related development costs" corresponded to 5,888,000,000
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
134Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

45

R&D investment figure in the reporting year (Selected currency in C0.4) (optional)
5,788,000,000

The average percentage of planned R&D total investment over the next 5

years.

50

Please explain how your company's R&D investment in this technological field aligns withclimate change initiatives and climate transition plans.
In building construction, it is necessary to consider the reduction of direct and indirect
greenhouse gas emissions, including material production, construction work, and postcompletion operation. From this perspective, research and development are underway
to reduce emissions during material manufacturing through innovative production
methods and product development, develop energy-efficient construction methods,
create energy-efficient construction machinery, and enhance the design of low-emissionbuildings through improvements in envelope performance and facility efficiency. Each
year, the content of research and development is reviewed and determined by theTechnical Department based on the above, and initiatives are promoted accordingly.

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(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's scope of work includes construction and some design. For
management, development, and construction of net zero carbon buildings, it is necessary toachieve zero emissions not only during construction, but also during operation and demolition,and this cannot be achieved solely within the scope of the Company's business. For thesereasons, the construction industry cannot be directly involved; on the other hand, however, it isindirectly involved in supplying buildings that reduce emissions during operation, but theCompany sees this as the responsibility of the construction industry. However, with the current
situation, in which the promotion of ZEB also aims for a reduction of 50% or more in building
performance, it must be said that it is difficult in terms of both technology and cost to achieve
zero emissions during operation by building performance alone. For emissions that cannot becompensated for by building performance, the project owner will procure CO2-free energy
during operation. Such a scheme – that is, one for project involvement over the life cycle – isunder consideration, but there are no concrete plans at this time.

C10 Verification
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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 in place

Scope 2 (location-based or market-based)

Third-party verification or assurance process in place

Scope 3

Third-party verification or assurance process in place

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
Underway but not complete for reporting year – previous statement of process attachedType of verification or assurance
Limited assurance

Attach the statement【The Obayashi Corporation】Verification Report of Environmental Information.pdf

Page/section reference
1/1

Relevant standard
ABNT NBR ISO 14064-3:2007 (Associação Brasileira de Normas Técnicas)

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

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Status in the current reporting year
Underway but not complete for reporting year – previous statement of process attachedType of verification or assurance
Limited assurance

Attach the statement【The Obayashi Corporation】Verification Report of Environmental Information.pdf

Page/section reference
1/1

Relevant standard
ABNT NBR ISO 14064-3:2007 (Associação Brasileira de Normas Técnicas)

Proportion of reported emissions verified (%)
100

C10.1c(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: Purchased goods and services
Scope 3: Capital goods
Scope 3: Fuel and energy-related activities (not included in Scopes 1 or 2)
Scope 3: Upstream transportation and distribution
Scope 3: Waste generated in operations
Scope 3: Business travel
Scope 3: Employee commuting
Scope 3: Upstream leased assets
Scope 3: Investment
Scope 3: Downstream transportation and distribution
Scope 3: Processing of sold products
Scope 3: Use of sold products
Scope 3: End-of-life treatment of sold products
Scope 3: Downstream leased assets
Scope 3: Franchise

Verification or assurance cycle in place
Annual process

Status in the current reporting year
Underway but not complete for reporting year – previous statement of process attachedType of verification or assurance
Limited assurance137

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Attach the statement【The Obayashi Corporation】Verification Report of Environmental Information.pdf

Page/section reference
1/1

Relevant standard
ABNT NBR ISO 14064-3:2007 (Associação Brasileira de Normas Técnicas)

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. Emission trading, Cap & Trade or Carbon Tax)?
Yes

C11.1a(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
0.31% of Scope 2 emissions covered by the ETS
9.04

Period start date
1st April, 2022

Period end date138

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

31st March, 2025

Allowances allocated0

Allowances purchased
0

Verified Scope 1 emissions in metric tons CO2e461.7

Verified Scope 2 emissions in metric tons CO2e4,311

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 FY2022 results has yet to come, the reported values arefrom the FY2021 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 theactivities 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 toall 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

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

are in constant use, so we will continue the virtuous circle of raising awareness and promoting
reduced emissions.
Note that the report for the fiscal year 2022 is currently under review (to be submitted by theend of August), so the data presented pertains to the achievements of the fiscal year 2021. The
total CO2 emissions amount to 4,772.7 t-CO2, with 461.7 t-CO2 in Scope 1 and 4,311 t-CO2 in
Scope 2. This represents a decrease from the previous fiscal year's 5,873.7 t-CO2.

C11.2(C11.2) Has your organization canceled any project-based carbon credits within thereporting year?
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/clients
Yes, other partners in the value chain

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

Type of engagement
Engagement & incentivization (changing supplier behavior)

Details of engagement
・Run an engagement campaign to educate suppliers about climate change
・Climate change performance is featured in supplier awards scheme% of suppliers by number
100% total procurement spend (direct and indirect)
100% of supplier-related Scope 3 emissions as reported in C6.5

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

64.2

Rationale for the coverage of your engagement
The Obayashi Corporation believes that addressing activities related to environmental
conservation is essential for fulfilling the corporate social responsibility (CSR), and thisrequires efforts throughout the entire supply chain. The company is committed to
conducting fair transactions with suppliers, aiming to strengthen trusted partnerships formutual growth and development. The Obayashi Corporation strives to enhance
understanding of its fundamental principles and CSR philosophy among both domestic
and international business partners. The goal is to collaboratively address themes suchas human rights, safety and health, environment, quality, and social contribution.
In June 2011, the Obayashi Corporation established CSR Procurement Guidelines tocontribute to the realization of a sustainable society as outlined in its fundamental
principles. In March and November 2020, the company revised the "Obayashi GroupCSR Procurement Policy" by incorporating more specific items in response to various
demands from society. Within this policy, the basic principles for promoting CSR
procurement by the Obayashi Group personnel are outlined as the "Basic Policy for
CSR Procurement Activities." The policy also establishes the "CSR Procurement
Guidelines," which specify the practices to be requested from suppliers based on the
aforementioned principles.
In accordance with these guidelines, the Obayashi Group aims to build strong
partnerships with suppliers based on mutual trust. The company not only seeks
understanding and dissemination of the "CSR Procurement Guidelines" among its owngroup of suppliers but also extends these principles to the suppliers within their supply
chain. This approach promotes CSR initiatives across all supply chains related to the
Obayashi Group's business activities. Key initiatives are incorporated into contractual
provisions with suppliers, and confirmation is made at the time of contract.
The "Obayashi Group CSR Procurement Policy" outlines nine items, including
consideration for the environment. Under the category of "Consideration for theEnvironment," the policy explicitly states, "Promote business activities that consider
environmental conservation and reduce environmental impact." The content includes
addressing climate-related issues, such as CO2 reduction through energy and resource
conservation.
Furthermore, for construction equipment and similar items, the Obayashi Corporation
has established its own "Office Supplies and Construction Equipment Green
Procurement Guidelines." These guidelines, as part of the procurement policy, consider
contributing to environmental conservation activities, including promoting energy andresource conservation and reducing carbon dioxide emissions. The company takes into
account the suppliers' commitment to environmental initiatives, evaluating their stancebased on the "Supplier's Environmental Management Standards" and prioritizing the
procurement of items that are at least equivalent or relatively advantageous.
Both the "Obayashi Group CSR Procurement Policy" and the "Office Supplies andConstruction Equipment Green Procurement Guidelines" apply to all suppliers, and thecompany publicly discloses their compliance both internally and externally. Therefore,
this applies to all suppliers with whom transactions were conducted in the fiscal year
2022.
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It should be noted that subcontractors participating in construction projects, a key
business for the Obayashi Corporation, are crucial suppliers, and collaboration withthese subcontractors is essential. In construction project sites, educational initiatives,
such as fuel-efficient driving training for subcontractor workers, are implemented.
Through collaborative efforts between the Obayashi Corporation and subcontractors,
initiatives are undertaken to reduce carbon dioxide (CO2) emissions during theconstruction phase. This includes the use of low-carbon construction machinery, fuelefficient operation of vehicles and construction equipment, idle stop practices, and theuse of alternative fuels such as diesel substitutes. It's important to highlight thatcooperation from subcontractors is indispensable for conducting surveys on fuelconsumption at construction sites, which serve as the basis for calculating CO2
emissions during the construction phase—accounting for over 99% of the Obayashi's
Corporation Scope 1 CO2 emissions.

Impact of engagement, including measures of successIn the Obayashi Group, the action plan "Promotion of CSR Procurement," establishedbased on the important ESG issues (Materiality), is identified as a mid-term
management plan 2022 business foundation measure. This plan aims to enhance theunderstanding of CSR procurement across the entire group's supply chain. Key
Performance Indicators (KPIs) for this initiative include the "Proportion of procurementfrom companies responding to CSR procurement surveys" and the "Number ofengagement activities with cooperative companies."
The Obayashi Corporation conducts an annual survey to promote awareness andcompliance with the "Obayashi Group CSR Procurement Guidelines" throughout theentire supply chain. In the fiscal year 2022, the survey was conducted among
approximately 1,500 suppliers, including members of the " Obayashi Corporation RINYU-KAI," comprising about 1,200 affiliated companies nationwide and other firms with
continuous transaction records. The actual performance for the KPI "Proportion of
procurement from companies responding to CSR procurement surveys" (target: 70%)
was 79%.
As a result, the promotion of CSR procurement, including measures to address climaterelated issues (such as CO2 reduction through energy and resource conservation), is
generally well-embedded across the entire supplier base.
Additionally, every year, as part of cooperative company engagement, Corporation
conducts exchanges of opinions with companies affiliated with the Obayashi
Corporation RIN-YU-KAI on a wide range of topics, including quality, safety,
environment, workstyle reforms, productivity improvement, and securing humanresources. The number of engagements conducted in the fiscal year 2022 exceeded thetarget of 100 companies, reaching 145 in actual performance. Opinions and bestpractices gathered through these exchanges are disseminated throughout the entire
organization and utilized in subsequent initiatives.
Moreover, on a biannual basis, evaluations are conducted, using seven criteria such as"quality," "safety," and "environment," to assess cooperative companies on a five-point
scale. Evaluation results are individually communicated to each company, followed by
improvement guidance through discussions and other means. Outstanding cooperative
companies are recognized through commendations. Through engagement activities, the142

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Obayashi Corporation aims to raise awareness of CSR procurement among cooperative
companies and build strong partnerships.
When all suppliers (cooperative companies), including member companies of the
Obayashi Corporation RIN-YU-KAI, participate in the Obayashi Corporation's
construction projects, it is a prerequisite under the construction contract that they adhere
to the Obayashi Corporation's construction management. This encompasses
environmental conservation activities, such as the reduction of CO2 emissions, throughthe Obayashi Corporation's environmental management system. Therefore, it can besaid that all suppliers (cooperative companies) are collaborating.
As part of the environmental management system for the fiscal year 2022, Corporation
has established environmental goals, including targets for the "CO2 emission reduction
rate (compared to fiscal year 2019)" (Scope 1 + 2), and has communicated andeducated suppliers (cooperative companies) on environmental goals and conservation
activities at construction sites. These activities include fuel-efficient driving, idle stop
practices, the introduction of diesel substitutes, and energy-efficient construction
practices.
Furthermore, the company monitors and evaluates the progress of activities at eachconstruction site every six months. This evaluation contributes to assessing theeffectiveness and success of engagement with suppliers.
As an example, the achievement of one of the environmental goals for the fiscal year
2022 within the environmental management system and a key performance indicator(KPI) based on the important ESG issues (Materiality) is the "CO2 emission reduction
rate (compared to fiscal year 2019) (Scope 1 + 2)." This is calculated based on thereported monthly energy consumption, such as diesel fuel, from suppliers (cooperative
companies) at the Obayashi Corporation's construction sites.
In the Obayashi Corporation's construction project sites, environmental education is
mandatory, not only for our employees but also for workers from cooperative
companies. This education is implemented in accordance with the environmental
management system.
Furthermore, the implementation of fuel-efficient driving training at construction sites isaddressed as a performance indicator within the environmental management system.
A direct indicator of success in collaboration with cooperative companies related toclimate-related issues is the KPI based on the important ESG issues (Materiality) andthe environmental goal item "CO2 emission reduction rate (compared to fiscal year2019) (Scope 1 + 2)" for the Civil Engineering and Construction Departments in ourenvironmental management system. In the fiscal year 2022, the achievement was
12.6%, meeting the target of 12.6%. Thus, engagement with cooperative companies is
considered successful.
Additionally, the efforts of suppliers (cooperative companies) at the Obayashi
Corporation's construction sites, such as fuel-efficient driving, contribute to the reductionof their own Scope 1 and 2 emissions, resulting in savings in fuel purchase costs andother areas. This is viewed as a contribution and incentive. Furthermore, engagement
and recognition systems with cooperative companies influence their behavior. For
example, there are cases where cooperative companies transition to emission control
construction machinery brought to our construction sites. This transition is seen as aresult of the incentive and engagement systems with these cooperative companies.
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Comment

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

Type of engagement and Details of engagement
Collaboration & innovation
Run a campaign to encourage innovation to reduce climate change impacts% of customers by number
100% customer-related Scope 3 emissions as reported in C6.5
35.1

Please explain the rationale for selecting this group of customers and scopeof engagement
At the Obayashi Corporation, the Corporate Code of Conduct, based on the Obayashi
Corporation fundamental principles, outlines guidelines for maintaining a company
trusted by all stakeholders. This includes "environmentally conscious societal
development" and "providing high-quality buildings and services." The company actively
proposes environmentally friendly technologies to all customers. Therefore, allcustomers are the focus of engagement.
Employing a consistent quality management approach based on the Quality
Management System, the Obayashi Corporation provides high-quality buildings andservices that satisfy customers. The company is committed to advanced technology
development and solution provision to meet diverse customer needs. Additionally, it
engages in customer support from BCP (Business Continuity Plan) formulation during
disasters to restoration works.
Notably, recognizing the significant CO2 emissions during building operation, theObayashi Corporation actively proposes technologies to reduce CO2 emissions during
the operation of its design and construction projects. Leveraging its technical expertise,
the company proposes features such as ZEB and specifications that achieve A-rank orhigher evaluations in CASBEE (Comprehensive Assessment System for Built
Environment Efficiency). This approach aims to help customers (clients) reduce CO2
emissions during building operation. Specifically, as part of the action plan "Promotion ofEnvironmentally Conscious Businesses," based on important ESG issues (Materiality),
the company is working on KPIs such as the "ZEB proposal rate for design andconstruction projects" (target: 100%) and the "number of ZEB certifications for designand construction projects." This is crucial because Scope 3 CO2 emissions (Category

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11: Use of sold products) and energy efficiency during building operation significantly
impact building operating costs for customers (clients). Therefore, the Obayashi
Corporation collaborates with customers (clients) from the planning, sales, and design
stages onwards. Additionally, the company is working on another KPI related to the"percentage of renewable energy power introduction for domestically owned rental
properties within the group."

Impact of engagement, including measures of successAt the Obayashi Corporation, as part of engagement with customers (clients), thecompany conducts "Customer Satisfaction Surveys." The Customer Satisfaction rate forthe fiscal year 2022 was 97.5%, showing improvement compared to the fiscal year 2021
(95.9%). The collaborative indicator for climate-related issues with customers (clients) is
the KPI "ZEB proposal rate for design and construction projects" (target: 100%), and theachievement for the fiscal year 2022 was 100%. Additionally, the KPI "Number of ZEB
certifications for design and construction projects" achieved 6 certifications in the fiscal
year 2022.
Furthermore, the success indicator for collaboration with customers (clients) is the
Scope 3 CO2 emissions of the company (Category 11: Use of sold products). The
emissions for this Scope 3 Category 11 decreased from 1,212,342 t-CO2 in the fiscal
year 2021 to 855,127 t-CO2 in the fiscal year 2022. In addition, customers (clients) arerecognized for their contribution to climate change through the reduction of energy costs
during building operation and the decrease in CO2 emissions. The engagement with all
customers has resulted in the reduction of CO2 emissions and the promotion oftechnological innovations such as ZEB. Overall, the engagement with all customers canbe considered successful.

C12.1d(C12.1d) Give details of your climate-related engagement strategy with other partners
in the value chain.
In pursuit of achieving carbon neutrality by 2050, hydrogen, which does not emit CO2 during
the usage stage, is expected to be a crucial energy source for the future. The Obayashi
Corporation focuses on 'green hydrogen,' derived from renewable energy that does not involve
CO2 emissions during the manufacturing stage. As part of its efforts to build a supply chain for
effective hydrogen utilization, the Obayashi Corporation has been engaged in the production
and trial sales of green hydrogen utilizing geothermal energy in collaboration with Tuaropaki
Trust in New Zealand since December 2021. Additionally, the company has made joint
investments with other firms in AFCryo Global Limited, the holding company ofFabrumSolutions Limited, which possesses advanced cryogenic separation technology. The
synergy between Fabrum's technical expertise and extensive sales network and the Obayashi
Corporation's track record and experience aims to further expand the hydrogen business.
Domestically, in Kokonoe Town, Kusu District, Oita Prefecture,the Obayashi Corporationcommenced the production and supply of green hydrogen utilizing geothermal energy from July
2021. In January 2023, the company supplied it to the hydrogen-mixed combustion burner ofan asphalt plant verified by the group company Obayashi Road Corporation in Saga Prefecture.
Moreover, in Namie Town, Fukushima Prefecture, since April 2022, as part of an initiative

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

commissioned by the Ministry of the Environment, the Obayashi Corporation has been
conducting a demonstration operation to deliver hydrogen produced from existing renewablesources to multiple locations with high transport efficiency. Through practical applications, thecompany aims to convey the attractiveness of hydrogen and stimulate demand.
The entire group will continue its collaborative efforts to advance towards decarbonization.

C12.2(C12.2) Do your suppliers have to meet climate-related requirements as part of yourorganization’s purchasing process?
Yes, climate-related requirements are included in our supplier contracts

C12.2a(C12.2a) Provide details of the climate-related requirements that suppliers have tomeet as part of your organization’s purchasing process and the compliancemechanisms in place.

Climate-related requirement
Complying with regulatory requirements

Description of this climate related requirement
The Obayashi Group has established the "Obayashi Group CSR Procurement
Policy" and the "Obayashi Group CSR Procurement Guidelines (hereinafter referred
to as the Guidelines)," requiring suppliers to comply with the Guidelines. The
Guidelines specify the promotion of business activities that consider environmental
conservation and the reduction of environmental impact, including measures against
climate change. It also stipulates compliance with all relevant laws, international
treaties, and social norms applicable in the countries and regions where businessactivities are conducted. All items in these Guidelines, including those mentioned,
are stipulated in the contract clauses concluded with suppliers, and confirmation ismade at the time of contracting. Additionally, every fiscal year, a survey isconducted to confirm the compliance status of suppliers with the Guidelines. In thefiscal year 2022, the survey was conducted for approximately 1,500 suppliers,
achieving a response rate of 89.0%. The procurement ratio from companies
responding to the CSR procurement survey was 79%, exceeding the target of 70%.
The survey will continue in the future, and efforts will be made to enhance thecontent of the survey and expand the scope of target companies, thus strengthening
supply chain management.
% suppliers by procurement spend that have to comply with this climaterelated requirement
100

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

% suppliers by procurement spend in compliance with this climate-related
requirement
79

Mechanisms for monitoring compliance with this climate-related requirement
Supplier self-assessment

Response to supplier non-compliance with this climate-related requirement
Retain and engage

C12.3(C12.3) Does your organization engage in activities that could either directly or
indirectly influence policy, law, or regulation that may impact the climate?
Row1
External engagement activities that could directly or indirectly influence
policy, law, or regulation that may impact the climate
Yes, our membership of/engagement with trade associations could influence policy, law,or regulation that may impact the climate.
Yes, we fund organizations or individuals whose activities could influence policy, law, or
regulation that may impact the climate.

Does your organization have a public commitment or position statement to
conduct your engagement activities in line with the goals of the Paris
Agreement?
Yes

Attach commitment or position statement(s)[The Obayashi Corporation] Nikkenren_Environmental Self-Action Plan for theConstruction Industry_7th Edition.pdf[The Obayashi Corporation] JCLP_20220513_Position Paper on Accelerating theTransition to Zero Emission Vehicles for Commercial Vehicles.pdf[ The Obayashi Corporation] JCLP_20220726_Position Paper on Ensuring Diversityof Renewable Energy Options.pdf[ The Obayashi Corporation] JCLP_ JCLP_20230328_Position Paper for G7.pdf[ The Obayashi Corporation] JCLP_ JCLP_20220406_Position Paper on
Overcoming the Climate Crisis Through New Capitalism.pdf[ The Obayashi Corporation] JCLP_ JCLP_20221101_Recommendations on the
System Design of Growth-Oriented Carbon Pricing.pdf

Describe the process(es) your organization has in place to ensure that yourexternal engagement activities are consistent with your climate commitments
and/or climate transition plan.

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

In the Obayashi Corporation, the President serves as the Vice Chairman(Representative Director) of the Japan Construction Industry Federation(Nikkenren). As a member of the Board of Directors overseeing climate-related risks
and opportunities, the President chairs the Sustainability Committee, responsible for
examining the response policies to sustainability issues, including climate change,
and making recommendations to the Board of Directors. Additionally, the President
chairs the Management Meeting, which addresses important matters related tosustainability, including climate change, and is involved in reporting, deliberating,
instructing, and making resolutions.
Furthermore, our executive officer serves as a member of the Environmental
Committee of Nikkenren, and members of the secretariat (Environmental
Management Department) of the "Management Meeting's" sub-organization, the"Environmental Management Specialized Committee," participate as members in
Nikkenren's Environmental Committee subcommittees, such as the Environmental
Management Subcommittee and the Global Warming Countermeasures
Subcommittee. The content discussed in Nikkenren's committees related to climatechange is reported and shared through processes such as reporting to the Board of
Directors, Management Meeting, Management Planning Committee, andEnvironmental Management Specialized Committee.
If any inconsistency with the Obayashi Corporation's climate change strategy isidentified, members of our company may provide opinions in Nikkenren's
committees, potentially influencing public policy indirectly to align with the Obayashi
Corporation's climate change strategy.
The recommendations of the Japan Climate Leaders' Partnership (JCLP) have beenendorsed by the Obayashi Corporation with the approval of the Board of Directors..

C12.3b
(C12.3b) Provide details of the trade associations your organization engages withwhich are likely to take a position on any policy, law or regulation that may impact theclimate.

Trade association
Other, please specify

Japan Federation of Construction Contractors
Is your organization's position on climate change consistent with theirs?
Consistent

Has your organization influenced, or is your organization attempting to
influence their position?
Yes, we publicly promoted their current position.

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Describe how your organization’s position is consistent with or differs fromthe trade association’s position, and any actions taken to influence theirposition
JFCCA is a nationwide association of general construction companies andconstruction contractor associations whose members are engaged in theconstruction industry. It works to solve basic domestic and international problems inthat industry, including various systems related to it. It also aims to promote thesound development of the construction industry in Japan by promoting related
technological progress and management improvements, thereby contributing to theenrichment of people's lives and the foundation of industrial activities. The purposeof JFCCA's activities related to climate change countermeasures is to conduct
surveys and research on environmental issues related to the construction industry,
make proposals, and promote countermeasures. As an organization, JFCCA has
established and is promoting the Environment Committee, several specialized
subcommittees, including the Environmental Management Subcommittee and the
Global Warming Countermeasures Subcommittee, and the Carbon Neutral
Measures Working Group. Like the Obayashi Corporation, JFCCA supports theJapanese government's Carbon Neutral by 2050 strategy.
Specifically, the Voluntary Action Plan on the Environment in the Construction
Industry (first edition) was formulated in 1996, organizing the construction industry's
activities for the environment into three frames based on environmental
management: decarbonized society, recycling-oriented society, and society inharmony with nature. In addition, the 7th edition of the Environmental Voluntary
Action Plan for the Construction Industry was formulated and published in April
2021, after a review of new targets for a smooth transition to a decarbonized society
and circular economy. The 7th edition of the Voluntary Action Plan for theEnvironment in the Construction Industry sets the goals of reducing CO2 emissions
at the construction stage to "aim for a 40% reduction in CO2 emissions per unit ofproduction in the early years of FY2030 to 2040 (compared to FY2013)" and"promote initiatives to achieve virtually zero CO2 emissions at the construction
stage by 2050." In addition, the Company has set the following goal for curbing CO2
emissions during operation at the design stage: Promote the contribution of designand construction to global warming prevention to society by identifying anddisclosing the amount of CO2 reduction, CO2 reduction rate, and energy
conservation performance index values. In FY2022, the president of the Obayashi
Corporation was the vice president (representative director) of the JFCCA. In
addition, members of the secretariat of Environmental Management Expert
Committee participated as members of the Environmental Management
Subcommittee and Global Warming Prevention Subcommittee, which aresubordinate organizations of the JCIA's Environmental Committee and work
together to formulate, implement, and disseminate the Voluntary Action Plan on the

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Environment in the Construction Industry. In addition, the Company participates as amember of a study group (Global Warming Prevention Subcommittee) in theconstruction industry regarding the Keidanren Carbon Neutral Action Plan and is
involved in the formulation of said plan and its implementation.
Funding figure your organization provided to this trade association in thereporting year, (currency as selected in C0.4)
Describe the aim of your organization’s funding
Have you evaluated whether your organization’s engagement with this tradeassociation is aligned with the goals of the Paris Agreement?
Yes, we have evaluated, and it is aligned

C12.3c(C12.3c) Provide details of the funding you provided to other organizations or
individuals in the reporting year whose activities could influence policy, law, or
regulation that may impact the climate.

Type of organization or individual
Other, please specify
Japan Climate Leaders PartnershipState the organization or individual to which you provided funding
The Japan Climate Leaders Partnership (JCLP) is a unique Japanese business groupthat was launched in 2009 with the recognition that industry must develop a healthy
sense of urgency and initiate proactive action to achieve a sustainable decarbonizedsociety. By leading the transition to a decarbonized society, the Company aims tobecome one that is sought after by society. The objective of the activity is to achieve a
rapid transition to a decarbonized society and to achieve the 1.5°C target in order toavoid a climate crisis. In addition, the Company's activity policy is to lead Japan inachieving policy change through the five pillars of policy engagement, promoting ourown decarbonization, providing solutions to decarbonize society, communicating withsociety, and collaborating with our global network.

Funding figure your organization provided to this organization or individual in
the reporting year (currency as selected in C0.4)
200,000

Describe the aim of this funding and how it could influence policy, law or
regulation that may impact the climate
By joining and funding the JCLP, which aims to achieve a rapid transition to a
decarbonized society and achieve the 1.5°C target to avoid a climate crisis, it becomes150

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

possible to lobby countries and engage them in policies that may affect climate change.

Have you evaluated whether this funding is aligned with the goals of the Paris
Agreement?
Yes, we have evaluated, and it is aligned

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 thanin your CDP response? If so, please attach the publication(s).

Publication
In mainstream reports

StatusComplete

Attach the document【The Obayashi Corporation】119th Annual Securities Report.pdf

Page/Section reference
・Governance：P17, P43-50, P68-69
・Strategy：P13-14, P17, P29-31
・Risks & Opportunities：P17, P21-22
・Emission targets：P17, P20
・Other metrics：P19-20

Content elements
Governance
Strategy
Risks & Opportunities
Emission targets
Other metrics

Comment

Publication
In voluntary sustainability report

StatusUnderway – previous year attached151

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Attach the document【The Obayashi Corporation】OBAYASHI Corporate Report 2022.pdf
Page/Section reference
・Governance：P42、P69-70
・Strategy：P13-16, P42
・Risks & Opportunities：P42
・Emissions figures：P87-88
・Emission targets：P42-43、P88
・Other metrics：P36、P88

Content elements
Governance
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.

C12.5(C12.5) Indicate the collaborative frameworks, initiatives and/or commitments related
to environmental issues for which you are a signatory/member.
Environmental
collaborative
framework, initiative
and/or commitment

Describe your organization’s role within each framework,
initiative and/or commitment

Row1 Japan Climate LeadersPartnership (JCLP)

JCLP: The Japan Climate Leaders Partnership (JCLP) is a unique
Japanese corporate group launched in 2009 under the recognition
Task Force on Climate- that the industry should have a healthy sense of crisis and takeproactive action to achieve a sustainable decarbonized society. As
related Financial
a member of JCLP, the Obayashi Corporation aims to lead theDisclosures (TCFD)
transition to a decarbonized society, striving to become a company
United Nations Globalthat society demands.
Compact
TCFD: In response to the G20's request, the Financial Stability
Board (FSB) established the Task Force on Climate-related
Financial Disclosures (TCFD) with Michael R. Bloomberg as thechairman to consider how to disclose climate-related informationand how financial institutions should respond. Based on the final
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

report published in June 2017,the Obayashi Corporation has
expressed support for the recommendations and discloses
information regarding governance, strategy, risk management, andmetrics and targets related to climate-related risks andopportunities.
UNGC: The United Nations Global Compact (UNGC) is the world's
largest sustainability initiative, bringing together the United Nations
and private entities (companies and organizations) to build ahealthy global society. Signing companies and organizations,
including the Obayashi Corporation, commit to voluntary initiatives
for responsible, creative leadership, acting as responsible membersof society, and achieving sustainable growth. Underpinning theircommitment are the ten principles related to human rights
protection, elimination of unfair labor practices, environmental
responsiveness, and corruption prevention..

C15 Biodiversity
C15.1(C15.1) Is there board-level oversight and/or executive management-level
responsibility for biodiversity-related matters within your organization?
Board-level oversight
Description of oversight and objectives relating to
and/or executive
biodiversity
management-level
responsibility forbiodiversity-related issues
Row Yes, both board-level1
oversight and executive
management-level
responsibility

The Obayashi Corporation has established a Sustainability
Committee under the Board of Directors, chaired by the
President and CEO and composed of outside directors and othermembers, to implement corporate activities based on the
Obayashi Corporation basic philosophy and to promote efforts toachieve sustainability for society and itself. The Sustainability
Committee shall meet at least twice a year to identify
sustainability issues, review and recommend policies to address
the identified sustainability issues, and review theirimplementation in execution. Based on discussions at the
Sustainability Committee, the Board of Directors will determine
management policies for promoting ESG management andachieving the SDGs. On the business execution side, theCorporate Planning Committee and the specialized committees
in each sustainability field established within the Corporate
Planning Committee, which are commissioned by the President,
are responsible for formulating and promoting measures in line
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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

with the management policy decided by the Board of Directors,
monitoring implementation status, disseminating information andpromoting internal penetration, and promoting group-wide
initiatives. The Environmental Management Expert Committee,
chaired by the director in charge of the environment, wasestablished within the above-mentioned specialized committees
to formulate strategies and policies for the Obayashi Group's
environmental management, review targets and activities basedon performance evaluations of the EMS, and promote
continuous improvement. Based on the plans and targets set by
the Environmental Management Committee, the divisions incharge of the environment at the head office, each head officeand branch, and group companies are promoting andimplementing specific activities.

C15.2(C15.2) Has your organization made a public commitment and/or endorsed any
initiatives related to biodiversity?
Indicate whether your organization made a public commitment Initiatives endorsed
or endorsed any initiatives related to biodiversity
Row Yes, we have endorsed initiatives only1

CBD - Global
Biodiversity Framework

C15.3(C15.3) Does your organization assess the impacts and dependencies of its value
chain on biodiversity?

Impacts on biodiversity
Indicate whether your organization undertakes this type of assessment
No and we don’t plan to within the next two years.

Dependencies on biodiversity
Indicate whether your organization undertakes this type of assessment
No and we don’t plan to within the next two years.

C15.4(C15.4) Does your organization have activities located in or near to biodiversitysensitive areas in the reporting year?
No154

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

C15.5
(C15.5) What actions has your organization taken in the reporting year to progress
your biodiversity-related commitments?
Have you taken any actions in the reporting period to progress your biodiversityrelated commitments?
Row
1

No, and we do not plan to undertake any biodiversity-related actions

C15.6(C15.6) Does your organization use biodiversity indicators to monitor performanceacross its activities?
Does your organization use indicators to monitor
biodiversity performance?
Row
1

Indicators used to monitor
biodiversity performance

No

C15.7
(C15.7) Have you published information about your organization’s response tobiodiversity-related issues for this reporting year in places other than in your CDP
response? If so, please attach the publication(s).
Report typeContent
elements

Attach the document and indicate where in the document therelevant biodiversity information is locatedNopublications

C16 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
not scored.

C16.1(C16.1) Provide details for the person that has signed off (approved) your CDP climatechange response.

Row 1

Job title

Corresponding job category

Representative Director President

President(From April 2023, "President and CEO")155

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

SC Supply chain
SC0.0(SC0.0) If you would like to do so, please provide a separate introduction to thismodule.
Change in Scope
Until CDP 2022 (FY2021 performance), we reported the performance of the domestic standalone
entity. However, starting from CDP 2023 (FY2022 performance), we report the consolidated
performance of the Obayashi Group.

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

1,983,888,000,000

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

Requesting member
Toyota Motor Corporation

Scope of emissions
Scope 1

Scope 2 accounting method

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e6,508.37

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Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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 FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

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
NEC Corporation

Scope of emissions
Scope 1

Scope 2 accounting method

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail
157

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Emissions in metric tons of CO2e
1,804.17

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 FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

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
EQUINIX, INC.

Scope of emissions
Scope 1

Scope 2 accounting method

Scope 3 category(ies)158

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e
93.98

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 FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

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
Infineon

Scope of emissions
Scope 1

Scope 2 accounting method

159

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e
93.72

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 FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

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
Nomura Research Institute, Ltd.

160

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Scope of emissions
Scope 1

Scope 2 accounting method

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e
48.68

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 FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

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.

161

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Requesting member
Daiichi Sankyo Co., Ltd.

Scope of emissions
Scope 1

Scope 2 accounting method

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e
44.09

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

Allocation method
Other, please specify
It is calculated by multiplying the volume of completed construction in FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

Please explain how you have identified the GHG source, including major
limitations to this process and assumptions made162

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

We 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

Scope 2 accounting method

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e0

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 FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

163

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Unit for market value or quantity of goods/services supplied

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
Comcast Corporation

Scope of emissions
Scope 1

Scope 2 accounting method

Scope 3 category(ies)

Allocation level
Company wide

Allocation level detail

Emissions in metric tons of CO2e0

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

Allocation method
Other, please specify

164

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

It is calculated by multiplying the volume of completed construction in FY2022 inprojects ordered by clients with CO2 emission intensity per construction project in
FY2022 (construction).

Market value or quantity of goods/services supplied to the requesting member

Unit for market value or quantity of goods/services supplied

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 thesechallenges

Managing the different emission
factors of diverse and numerous
geographies makes calculating total
footprint difficult

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.
It is possible to calculate emissions by individual client fromtheir proportion (ratio) of annual projects, so we report theseemissions to clients who request it, but do not calculate
emissions for clients who do not need it themselves.

SC1.4(SC1.4) Do you plan to develop your capabilities to allocate emissions to yourcustomers in the future?
No165

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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
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
0

Estimated payback

Details of proposal

Requesting member
NEC Corporation

Group type of project
Change to provision of goods and services

Type of project
Other, please specify

166

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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
EQUINIX, INC.

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 realize
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback

Details of proposal

Requesting member
InfineonGroup type of project167

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

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 realize
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback

Details of proposal

Requesting member
Nomura Research Institute, Ltd.

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 realize
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback

Details of proposal

Requesting member
168

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Daiichi Sankyo Co., Ltd.

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 realize
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback

Details of proposal

Requesting member
Microsoft 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 realize
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

Estimated payback

Details of proposal

169

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

Requesting member
Comcast 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 realize
Other, please specify
From product delivery to end of use

Estimated lifetime CO2e savings
0

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 orservices?
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.
We understand that our response will be sharedwith all parties requesting the response

Publicly available/ Not
publicly available

170

Obayashi Corporation CDP Climate Change 2023 Questionnaire 27th July, 2023

We submit the
response.

Yes

Publicly available

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

171