Materiality
Background of Materiality Identification
The GROUP has been working to solve social issues through the growth of its parking and mobility businesses as a mobility and transportation infrastructure service company under the GROUP's philosophy of “We create new forms of comfort and convenience by responding to the needs of today and anticipating the needs of tomorrow.”
The GROUP believes that the role to be played by the GROUP in realizing a sustainable global environment and society will become increasingly significant in the future. For this reason, the GROUP has identified the Materiality of the PARK24 GROUP in order to achieve sustainable corporate growth and increase corporate value by incorporating the perspectives of environmental and social issues into the GROUP's management policies in addition to business strategies.
Five Materialities of the PARK24 GROUP
| Materiality | Main Themes | |
|---|---|---|
 |
|
|
 |
|
|
 |
|
|
 |
|
|
 |
|
|
Process for identifying our materiality
1.Shortlisting
We shortlisted a diverse range of environment, social, and economic issues from various sources, including the UN Global Compact, the 17 Sustainable Development Goals (SDGs), and evaluation items used by ESG evaluation organizations.
2.Issue identification and priority evaluation
From this shortlist, we selected items in areas that are highly relevant to the business activities of the PARK24 GROUP and assessed their importance. The scope for this selection process was defined as business areas and value chains that could be relevant to our activities. Factors that were considered included environmental changes, regulatory developments, and the wishes of stakeholders.
3.Validation and Identification
The Sustainability Committee verified the selection process and our analysis results and selected materiality requiring prioritized efforts. The issues selected were then ratified by the Board of Directors. We will review this selection process as required.
Reasons for the selection of our five materialities
| Materiality | Reasons for selection |
|---|---|
1）Contribution to sustainable global environment |
Consideration for the environment and action on environmental issues are social imperatives. Customers are becoming increasingly aware of the PARK24 GROUP’s role in the development and introduction of next-generation technologies relating to our business areas. We see the identification of and responses to environment-related risks and business opportunities as essential to the future continuity of our business. |
2）Provision of safe mobility and transportation infrastructure services |
We recognize the importance of parking and mobility services as social infrastructure for the transportation of people. Because these business areas include risks that relate directly to safety, we see the continuing provision of safe services as the foundation for sustainable growth. |
3）Innovation for comfortable society |
Creating new businesses is vital to the achievement of continuing growth over the medium- to long-term future. We are determined to increase the corporate value of the PARK24 GROUP by leveraging the strength of our business capital to enhance the convenience and usability of our services, especially through the use of digital technology. |
4）Promotion of active participation of diverse human resources essential for corporate growth |
We recognize that most of the value of the services that we provide to our customers is generated by our employees. In today’s environment, products and services are subject to strict selection. We see diverse human resources as a vital form of management capital and a source of competitive advantage. |
5）Establishment of strong management foundation |
We have prioritized further enhancement of our corporate governance as the key to a robust business structure and achieving improvement in corporate value. |