KPMG AZSA Sustainability Co., Ltd.
Ryota Ando
The conclusion of our assurance engagement is stated in our Independent Assurance Report. The following summarizes improvements from previous years and further recommendations, as identified in the course of our assurance procedures.
The Cosmo Oil Group has successively prepared reports in compliance with GRI Sustainability Guidelines 2006. While GRI Guidelines continue to be an important global standard in sustainability reporting, Japan has yet to completely embrace these initiatives. In the globalization of its business activities, Cosmo Oil is recognized as a leader within Japan for its efforts in sustainability reporting.
Cosmo Oil independently evaluates its major goals, activity performance and the achievement of targets for fiscal 2009 under the Second Consolidated Medium-Term Safety Plan, Second Consolidated Medium-Term Human Rights/Personnel Plan and Third Consolidated Medium-Term Environmental Plan as components of the Second Consolidated Medium-Term CSR Management Plan (see page 11). While quantitative criteria have been used in the self-evaluation of achievement of targets wherever possible, certain areas have been evaluated on a qualitative basis. We strongly encourage the Company to establish, wherever possible, quantitative objectives and evaluation criteria to be applied and managed internally in the assessment of each of the themes of its Third Consolidated Medium-Term CSR Plan (2010-2012) (see page 12), and also to report such objectives, criteria and results to its stakeholders in an objective and clear manner.
