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HOME News What's new NRI Selected as an A List Company, the Highest Rating, in the CDP Climate Change Survey for the Fifth Consecutive Year

NRI Selected as an A List Company, the Highest Rating, in the CDP Climate Change Survey for the Fifth Consecutive Year

Feb. 07, 2024

Nomura Research Institute, Ltd.

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Tokyo, February 7, 2024 - Nomura Research Institute, Ltd. (Headquarters: Tokyo, Japan; Chairman, President & CEO Shingo Konomoto, “NRI”) was selected for the fifth consecutive year as an A List company, the highest rating given by CDP1, an international non-profit organization on global environmental issues, in its FY2023 climate change survey (CDP Climate Change Questionnaire). This is in recognition of NRI's climate change targets established under international standards, its response, and its information disclosures, which were judged suitable for a global leader.

About the CDP A List

CDP's Climate Change Survey examines the world's top companies by market capitalization to assess their greenhouse gas emission reduction activities and climate change mitigation measures, and then evaluates companies on a scale of A to D based on their responses and discloses these evaluations. The CDP A List selects companies that have made particularly outstanding efforts in their strategies and responses to climate change, awarding them the highest rank.
In FY2023, more than 740 institutional investors with a total of USD 136 trillion in assets under management requested environmental information to be disclosed by companies through the CDP platform, and a record number of approximately 23,000 companies responded to the CDP Questionnaire. Out of all of them, 477 companies (climate change: 346 companies; forests: 30 companies; water security: 101 companies) were ultimately selected for the A List.

NRI's efforts on climate change, and background of the selection for the CDP A List

NRI’s efforts and disclosures of information on climate change as described below have been recognized as being at a high level internationally, which led to its selection for the A List.

- NRI was among the first operating companies to endorse the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures)2 in 2018, and since then, we have continually published the results of our analyses using multiple climate scenarios, along with their financial impacts.

- We joined the RE1003 in February 2019, and then in March 2023, we finished transitioning to renewable energy sources for the electricity used at all of our data centers.

- In February 2021, we established the target of slashing our greenhouse gas emissions (Scope 1 + 2) by 72% in FY2030 compared to FY2013 levels, and we were certified by the Science Based Targets Initiative (SBTi)4 as being in line with the 1.5°C-aligned target. Subsequently, through promoting efforts to switch to electricity derived from renewable energy sources, we revised our target to that of achieving net-zero greenhouse gas emissions (Scope 1 + 2) in FY2030 (a 97% reduction; compared to FY2019). In February 2023, we set a new net-zero target in conformity with the SBTi’s “Corporate Net-Zero Standard” (NRI’s application for SBTi certification under the reduction target is currently pending)5.

- As of FY2022, NRI has been conducting engagement aimed at reducing greenhouse gas emissions at our software development partners, which account for the majority of our Scope 36 emissions. More specifically, we have been holding workshops, briefings, and individual consultation sessions on calculating greenhouse gas emissions for our partners.

Under our corporate statement, “Dream Up The Future”, The NRI Group will continue to address climate change and other social issues, by working together with various stakeholders in creating new value and thereby contributing to the creation of a sustainable society.

  • 1  

    CDP: CDP is a global non-profit organization whose primary activity is to drive corporations and municipalities to disclose information about their environmental initiatives, including climate change, water resource protection, and forest conservation, and to thereby encourage these initiatives, at the request of institutional investors and major purchasing organizations around the world with a strong interest in environmental issues. CDP is currently one among multiple information disclosure platforms that provide the most beneficial information on environmental issues in the world. In addition, CDP is also a founding member of the Science Based Targets Initiative (SBTi), the We Mean Business Coalition, The Investor Agenda (an initiative promoting climate change action for institutional investors), and NZAMI (Net Zero Asset Managers initiative).
    For more information about the CDP A List and respondent companies’ scores, visit the CDP website below (English).

  • 2  

    TCFD: The Task Force on Climate-related Financial Disclosures (TCFD) is a private sector-led task force, launched by the Financial Stability Board (FSB) in response to a request made by the G20 (a summit meeting on finance and global economics).The TCFD published its Final Report summarizing its recommendations in June 2017, and has encouraged companies and other organizations to disclose information on their climate change-related governance, strategies, risk management, indicators, and targets. NRI declared its endorsement of the TCFD in July 2018. TCFD website (English):

  • 3  

    RE100: RE100 is a global corporate renewable energy initiative operated by The Climate Group, international NGO, in partnership with CDP. Member companies are required to declare and publish their targets of using renewable energy for 100% of the electricity they consume in their business activities.
    RE100 website (English):

  • 4  

    Science Based Targets Initiative (SBTi): The SBTi is an initiative whose purpose is to limit the global temperature rise to 1.5°C above to pre-industrial levels, encouraging companies to set science-based targets for reducing their greenhouse gas emissions. The SBTi was established by CDP (a coalition of institutional investors promoting the disclosure of climate change measures), the UN Global Compact (UNGC), the World Resources Institute (WRI), and the World Wildlife Fund (WWF) to promote climate change measures, and it evaluates the reduction targets set by companies, certifying those that qualify.
    SBTi website (English):

  • 5  

    For more details, see the following NRI news release.

  • 6  

    Scope: This refers to the target scope for calculating and reporting greenhouse gas emissions by corporations, and is divided into the following three categories.
    Scope 1: Direct emissions such as those from fuel combustion
    Scope 2: Indirect emissions such those arising from the use of electricity, heat, and steam
    Scope 3: Indirect greenhouse gas emissions other than those falling under Scopes 1 and 2, such as emissions from manufacturers in the supply chain, employee commuting, business travel, etc.

For Reference: NRI’s sustainability-related initiatives

Integrated Report:
ESG Databook:
Sustainability Book:

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Contact Us

Inquiries about this news release:

Sangi Tamaoka
Corporate Communications Department
Nomura Research Institute, Ltd.

Telephone: +81-3-5877-7100

Inquiries about this certification:

Eiko Ibuki, Tomoko Takahashi
Sustainability and Responsibility Group
Nomura Research Institute, Ltd.