Blue Value™ / Rose Value™
Visualizing Contributions to the Environment and Society
Our Blue Value™ and Rose Value™ help visualize the contributions our products and services make to the environment and society and enable us to share those values with stakeholders. We have established Blue Value™ and Rose Value™ to respectively represent environmental contributions and quality-of-life (QOL) improvements embodied by our products and services. We assess and review products using our unique Blue Value™ and Rose Value™ Indices, and certify those that make significant contributions as Blue Value™ and Rose Value™ products, respectively.
We also believe Blue Value™ and Rose Value™ inform our efforts toward addressing the following material topics of our Group, which were set in order to realize our ideal future society: climate change, a circular economy, health and livelihood, highly livable communities, food security, and product design based on full life-cycle considerations.
By maximizing our contributions throughout the entire product life cycle through expanding and providing Blue Value™ and Rose Value™ products and services, we hope to achieve corporate growth for the Group and realize our ideal future society.
Blue Value™ and Rose Value™ Evaluation, Reviewing, and Certification Process
*1 Simple assessment / Preliminary review:
Optional assessment/ review; it is also possible to apply for review only
*2 External experts:
Dr. ITSUBO Norihiro, Professor, School of Creative Science and Engineering, Waseda University (Blue Value™ advisor)
Mr. ADACHI Eiichiro, Senior Counselor, Japan Research Institute, Limited(Rose Value™ advisor)
*3 Internal experts:
GMs of Planning & Coordination Division of Production & Technology Center, Chemicals Safety Department, and Intellectual Property Division
Business divisions assess the contributions their own products and services make to the environment and improved QOL based on the respective Blue Value™ and Rose Value™ assessment indices, and submit an application to the review board. Assessment and application are conducted according to the envisaged use of the product or service. This is because the same product or service could have a different impact on the environment or QOL throughout the entire life cycle based on its envisaged use. When submitting an application, applicants also provide evidence of the product or service’s contribution impact and whether there are any negative impacts or other factors throughout the entire life cycle.
The review board confirms and deliberates the basis for evaluating the contribution, the connection between the concept and selling points of the applied products and services, and the contribution categories of Blue Value™ and Rose Value™, the level of contribution and impact, and other factors. In order to ensure objectivity and appropriateness of the certification, we also obtain opinions from external experts.
Assessment indices are updated as appropriate to reflect changes in material topics, business strategy, and the external environment, with reference to advice from external experts. In addition, certified products and services are reviewed every five years to assess any changes in their value to determine whether their certification can be continued. Starting in fiscal 2020, we began preliminary review of pre-launch R&D products and services. We utilize this preliminary review to discover candidates of Blue Value™ and Rose Value™ products and services.
Incorporating Blue Value™ and Rose Value™ into Business Strategies
Transforming business portfolios based on ideal future society and promoting business engagement from a social issue perspective lead to nothing short of corporate growth and increased social contribution through products. With this approach, In VISION 2030, we set the sales revenue ratios of Blue Value™ and Rose Value™ products as non-financial metrics, with their targets both set at 40% or more. In order to encourage proactive investment that will lead to the growth of sales of Blue Value™ and Rose Value™ products and services, we have also created a mechanism for reflecting ESG elements in investment decisions. Since fiscal 2019, we have mandated that the application format for large-scale investments include descriptions of the opportunities and risks the project entails from social issue perspectives, such as by indicating the project’s Blue Value™ and Rose Value™ contribution categories. Furthermore, since fiscal 2020, we have set annual targets for the expansion measures and sales revenue of certified products in each business division and worked to incorporate them into their business strategies. In FY2021, we expanded the sales of certified products and identified candidate products from uncertified products. From fiscal 2022 onward, we are reviewing our management system for further expansion of new Blue Value™ and Rose Value™ products and services, as well as for deployment to our group companies and further utilization of accumulated data. In addition to the development of this foundation, we will continue to expand our business to affiliates, and thoroughly pursue business development with an awareness of Blue Value™ and Rose Value™.