Sustainability Report 2022 (for FY2021)

Our approach
Our approach

We engage in sustainability management aimed at achieving the sustainable development, production, and supply of energy. And we strive to resolve sustainability challenges through our business and value chain.
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Governance
Governance

Our approach to governance is designed to fulfill our responsibilities to our shareholders and other key stakeholders and support transparent, fair, timely and conclusive decision-making, with the goal of achieving sustainable growth and increasing corporate value over the medium to long term.
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Compliance
Compliance

INPEX is systematically developing a compliance structure—an indispensable requirement for its sustainable development—and strives to ensure compliance with laws and regulations and adherence to corporate ethics.
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Climate change
Climate Change

INPEX proactively engages in energy structure reforms towards the realization of a net zero carbon society by 2050, while fulfilling its responsibility for the stable supply of energy.
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HSE
HSE

INPEX ensures the safety and health of our employees, contractors, project partners, local community members, and all other stakeholders while minimizing any adverse impacts on the environment.
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People
People

The support we receive from local communities—underpinned by strong and trusted relationships—forms the basis of our social license to operate, and is therefore integral to the success of our business activities. INPEX are also working to create an internationally competitive organization by applying a global perspective as we implement HR initiatives to attract and develop our personnel and improve team performance.
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Performance Data
Performance Data

This page consolidates various data related to sustainability and ESG to centralize a broader range of non-financial information for the benefit of stakeholders.
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TCFD Recommendations

Disclosures in Line with TCFD Recommendations
Overview of the TCFD Recommendations		INPEX’s disclosures
Governance
Disclose the organization’s governance around climate-related risks and opportunities
1	Describe the board’s oversight of climate-related risks and opportunities	Governance System for Climate Change Response
2	Describe management’s role in assessing and managing climate-related risks and opportunities	Message from the Director in Charge of Climate Change Response Governance Framework for Climate Change Response
Strategy
Disclose the organization’s governance around climate-related risks and opportunities
1	Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term	Climate-related Risks and Opportunities
2	Describe the impact of climate-related risks and opportunities on the organization’s businesses, strategy and financial planning	Long-term Strategy and Medium-term Business Plan (INPEX Vision @2022)
3	Describe the resilience of the organization’s strategy, taking into consideration different climate-related scenarios, including a 2°C or lower scenario	The INPEX Low-Carbon Society Scenarios Assessment of Financial Impacts of Climate-related Risks Application of Internal Carbon Price
Risk Management
Disclose how the organization identifies, assesses and manages climate-related risks
1	Describe the organization’s processes for identifying and assessing climate-related risks	Assessing and Managing Climate-related Risks and Opportunities
2	Describe the organization’s processes for managing climate-related risks	Assessing and Managing Climate-related Risks and Opportunities
3	Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organization’s overall risk management	Risk Management System
Metrics and targets
Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities where such information is material
1	Disclose the metrics used by the organization to assess climate change-related risks and opportunities in line with its strategy and risk management process	Managing GHG Emissions Climate Change Response and Directors’ Compensation
2	Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 GHG emissions, and the related risks	ESG Performance Data: Climate Change <Target Management>
3	Describe the targets used by the organization to manage climate change-related risks and opportunities and performance against targets	Efforts in Setting and Achieving Climate Change Goals

7 metrics of disclosure in line with TCFD Guidance of Metrics, Targets, and Transition Plans
Overview of metrics		INPEX’s disclosure	Pages
1	Capital Deployment	Investment from 2022 to 2030	Our Long-term Strategy and Medium-term Business Plan – INPEX Vision @2022
2	Climate-Related Opportunities (Five net zero businesses)	Operating cash flow around 2030	Our Long-term Strategy and Medium-term Business Plan – INPEX Vision @2022
3	Remuneration	Climate Change Response and Directors’ Compensation	Ongoing Initiatives to Address TCFD Recommendations
4	Physical Risks	Assessment process for physical risks	Development of Physical Risk Assessment Process
5	Transition Risks (Assessment of Financial Impact)	Assessment method with IEA SDS scenario	Assessment of Financial Impact of Climate-related Risks
6	Internal Carbon Prices	US$65/tCO₂-e	Assessment of Financial Impact of Climate-related Risks
7	GHG emissions	Scope 1, 2, 3 (ESG Performance Data)	Environment

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