The Panasonic Group has established the Basic Business Philosophy, which serves as its basic approach, and conducts its business based on this policy.
Unraveling the Basic Business Philosophy from an ESG perspective, it stipulates from the perspective of the environment and society that we make unparalleled contributions to solving global environmental problems, including climate change, and to the physical and spiritual health and well-being of people. Additionally, we will return the profits we obtain to the society and invest in further contributions. From the perspective of governance that sustains such contribution to the environment and society, the BBP also stipulates autonomous responsible management, the practice of each employee's entrepreneurship, maximizing human resources and management based on collective wisdom, and the principle of "Fairness and Honesty” including the compliance.
We will maintain and expand our contribution to the Earth and society through the actions of each and every employee, and we will strive to expand our contributions even further. This is what the Basic Business Philosophy aims for, and we believe that this is also the key to sustainability in management itself.
The Advancement of Sustainability Management
In April 2022, the Panasonic Group transitioned to an operational company system (holding company system) in order to thoroughly implement autonomous responsible management and strengthen the competitiveness of our business from a medium- to long-term perspective.
Each Operating Company, which will be spun off as a result of the transition to an operating company system, will be able to make decisions quickly in response to changes in the external environment and flexibly design systems according to business characteristics, etc., with greatly expanded authority and responsibilities, thus significantly strengthen our competitiveness.
The holding company monitors non-financial indicators, or competitiveness KPIs, to enhance the competitiveness of each Operational Company.
In addition, various committees were set up to deal with the group's major issues, and in these committees, we openly discuss and set the direction for specific measures, actively support the strengthening of the competitiveness of each Operational Company, and develop growth strategies from a Group-wide perspective. Through those activities, we strive to improve corporate value as a group.
Respecting Global Standards, Norms, Guidelines, and Initiatives
The Panasonic Group conducts its business based on global standards, specifications, norms, guidelines, and various initiatives. The Panasonic Group signed the ten principles of United Nations Global Compact.
These concepts are reflected in our Basic Business Philosophy and the Panasonic Group Code of Ethics & Compliance that form the guidelines for the company's business activities.
In addition, Panasonic Holdings Co., Ltd. has joined the Responsible Business Alliance (RBA) as the Panasonic Group in order to strengthen our CSR procurement initiatives in our supply chains.
Promoting Initiatives Based on Dialogues with Stakeholders
The Panasonic Group conducts dialogues with its wide range of stakeholders around the world—including customers, investors, suppliers, governments, industry bodies, NPOs, NGOs, local communities, and employees—on various aspects of its business. The company incorporates the opinions it receives into its business activities and product creation.