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For us at NEC, sustainable management means that every one of us, executives and employees, will seek to contribute to solutions for social issues and exert a positive influence on society and the environment through our business activities and corporate citizenship activities, such as community contributions, while listening to the voices of society through dialogue with our stakeholders.
We don't only focus on fulfilling our compliance responsibility, such as ensuring legal compliance and corporate ethics; we also focus on mitigating corporate risks that may adversely affect society or the environment.
NEC has identified a total of nine priority management themes from an ESG (Environment, Social and Governance) perspective, referred to as “materiality,” which are divided into three layers, with a view to expanding economic value simultaneously with social and environmental value.
- (1)2020 Growth Focus to Create Social Value (2 themes)
Growth areas under the 2020 Mid-term Management Plan, organized from an ESG perspective
- (2)Engines of Change (2 themes)
Themes that will serve as engines for minimizing risks to society, maximizing economic and social value
- (3)Sustainable Growth Enablers (5 themes)
In addition to carrying out the 2020 Mid-term Management Plan, themes that management should engage with over the long term as a foundation for a Social Value Innovator
To explore how NEC can incorporate non-financial (ESG) initiatives and management, and how its business activities impact society, we invited outside experts in their respective fields to participate in a dialogue on the following themes. We invited Peter David Pedersen, Co-Founder, Next Leaders’ Initiative for Sustainability (NELIS) to participate in all of the dialogues to provide a general overview of materiality.
We have listed ESG-related objectives, achievements and progress, and degree of completion in accordance with the contents page of the report.
In fiscal 2019, we had a variety of dialogues on materiality with experts and various stakeholders. NEC believes that these types of dialogues are part of a process that should always be incorporated into its business activities. This report introduces some case examples below.
NEC believes that innovation is the key to continuing to provide social value. We are therefore promoting innovation management centered on strengthening our technological capabilities and accelerating commercialization. Under the direction of our Chief Technology Officer (CTO), we have formulated a technology strategy for the next stage of growth in social value innovation. We will continuously allocate approximately 4% of our revenue to R&D and make concentrated investments in NEC's proprietary No.1/Only 1 core technologies. In addition, we will actively promote commercialization of technologies across our conventional business framework and global open innovation, working to accelerate monetization of competitive technologies.