Sustainability 2013 report
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24 IN PEX C O RPO RA TIO N SU STA IN A BILITY REPO RT 2013 In the severe environment faced worldwide by resource development, the first and foremost mission of the INPEX Group is to provide a stable and efficient supply of energy. Through its business activities as a company responsible for Japans energy security, how can INPEX fulfill considerations for corporate social responsibility on various issues, such as the environment and human rights, while actively promoting resource development projects? We invited two experts to hear straightforward opinions on various topics, including the expectations placed on us from the standpoint of global management. Takeo Kikkawa, Professor at the Graduate School of Commerce and Management of Hitotsubashi University, and member of the Advisory Committee for Natural Resources and Energy, is a specialist of the energy industry. Eiichiro Adachi, Counselor at the Japan Research Institute, specializes in industry research and company evaluation from the perspective of environmental management and CSR. Date: June 20, 2013 Venue: INPEX Corporation Headquarters (Akasaka, Tokyo) Dialogue with Stakeholders To Fulfill our Responsibility to a Variety of Stakeholders as a Global Company Dialogue with Stakeholders Takeo Kikkawa Professor Graduate School of Commerce and Management Hitotsubashi University External Expert Eiichiro Adachi Counselor The Japan Research Institute, Limited External Expert Seiji Yui Director Senior Managing Executive Officer INPEX CORPORATION Masatoshi Sugioka Representative Director Vice Chairman INPEX CORPORATION Wataru Tanaka Director Managing Executive Officer INPEX CORPORATION Expectations Placed on INPEX in View of the Energy Situation in Japan and in the World Yui: With the global energy demand expected to expand in the long term, the shift to natural gas and the increased use of renewable energy are attracting much attention. The competition over energy resources is becoming increasingly intense. In this context, aiming at securing a stable supply of energy, which is our first and foremost mission, we develop our business to achieve our three growth targets of Continuous Enhancement of E&P Activities, Strengthening Gas Supply Chain, and Reinforcement of Renewable Energy Initiatives while keeping a constant awareness of our corporate social responsibility as a global company. Kikkawa: While Japanese nuclear plants stay idle, according to an announcement in the recent report of the Electricity Supply Demand Verification Subcommittee, the increase in fossil fuel costs amount to a 3.8 trillion yen outflow of national wealth per year. This is equivalent to 30 thousand yen per citizen, babies included. The Ichthys LNG Project has its importance, because INPEX conducts it as the operator. Japanese citizens may not be expecting only that INPEX secures supply sources, but also that it finds how it relates to a reduction of fuel costs in Japan. Sugioka: We also recognize this point. We are making efforts for shale gas development in Canada, too. Having a wide range of supply sources to select from, for example new resources or different regions, will eventually benefit Japan. Having said that, relations with the coun tries where resource development takes place must also be taken into account, and positive results cannot be expected immediately. Tanaka: We must keep in mind that no one can predict that shale gas price or crude oil price will be. As a Japanese company, we attach a great value to diversification. The main point of CSR activities is how to respond from the view point of the public eye
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