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Third-Party Assessment Third-Party Assessment Katsuhiko Kokubu Professor, Graduate School of Business Administration, Kobe University Profile Doctor of Business Administration at Osaka City University. After serving in such positions as Associate Professor at Osaka City University and Kobe University, Dr. Kokubu has been working as a Professor of the Graduate School of Business Administration at Kobe University since 2001. In 2019, he was appointed as to Vice President of Kobe University. His works include Emerging Responsibility Management (Nikkei Publishing) and Beyond Accountability toward Management Ethics (Yuhikaku Publishing). Rigorous Compliance and Agreement with TCFD Governance Needed Recommendations I think that JAPAN POST BANK should take steps to prevent JAPAN POST BANK has expressed its agreement with the a recurrence of violations of internal rules governing goals of the TCFD Recommendations and disclosed the investment trust sales in a way that is both rigorous and risks and opportunities related to climate change. It is transparent. In this report, President Norito Ikeda expresses commendable that the management team agrees with the his resolve to prevent a recurrence and specific steps that TCFD Recommendations and changed course toward a the Bank should take. Going forward, I would like the Bank low-carbon society. In disclosing risks and opportunities, the to continue explaining in detail (in the CSR Report and Bank not only sets out its risks, but also the potential for elsewhere) how these steps were implemented, especially creating value. In my view, a key focus going forward other the key points discussed by President Ikeda such as the than efforts to reduce risk will be how the Bank connects “service improvement committee” and “strengthening the the “opportunities” disclosed with value creation under ESG Group governance structure.” management. Further Promotion of ESG and CSR Response to the Novel Coronavirus (COVID-19) JAPAN POST BANK established the ESG Office within the Corporate Planning Department in April 2020, expressing The Bank’s response to COVID-19 is discussed throughout its commitment to promoting ESG management. I expect this report. With branches nationwide, JAPAN POST BANK’s faster progress in ESG initiatives as a result of the ESG COVID-19 response is a major challenge for Japan. As well, Office working with the Corporate Planning Department. financial support for companies throughout the country that It is especially important for the Bank to incorporate ESG have been adversely affected by the spread of COVID-19 elements actively in its value creation process and clearly could make or break the Japanese economy. It is an issue indicate the direction it wishes to take in creating social that will also have a big impact on work style reforms. value. The SDGs related to the “value provided by JAPAN I would like to see the Bank incorporate its COVID-19 POST BANK” are set out in pp. 6–7 of this report. I believe response into its overall CSR policy and address it in multiple that clarifying the relationship between initiatives and these ways over the longer term. SDGs and reflecting this in performance metrics will lead to the creation of social value in the future. JAPAN POST BANK CSR Report 2020 45.