Sustainability & Governance
(extracted from Tokyo Gas’s corporate site
)
)Moving on to the next stage in
realizing a sustainable society
realizing a sustainable society
Today, the Tokyo Gas Group confronts dramatic changes in the business environment, changes that raise many issues related to decarbonization, digitalization, diversification of customers, and deregulation in the energy market.
To meet these changes head-on and remain as a corporate group integral to society, we have delineated a new Group’s Management Philosophy.
Acting as a driving force for achieving a sustainable society, we will constantly strive to build the future of people’s lives, communities, and our planet under our new Group’s Management Philosophy.
To meet these changes head-on and remain as a corporate group integral to society, we have delineated a new Group’s Management Philosophy.
Acting as a driving force for achieving a sustainable society, we will constantly strive to build the future of people’s lives, communities, and our planet under our new Group’s Management Philosophy.
PURPOSE & VISION
Group’s Management Philosophy
Purpose
Standing by every person and dedicating
ourselves to the society, we shall be the
energy that weaves the future.
ourselves to the society, we shall be the
energy that weaves the future.
Values
Challenge
We constantly challenge ourselves and strive to learn something new.
Responsibility
We are always proactive and act with responsibility to bring out the best results.
Respect
We respect one another and value every possibility.
Sincerity
We sincerely care about the future of our stakeholders and our planet.
We shall stand by every
person.
person.
We promise. We will be mindful of everyone in the world involved in our businesses and diversify the ways we support and engage with them.
We shall dedicate
ourselves to the society.
ourselves to the society.
We promise. We will provide a more diverse range of value to a larger number of beneficiaries and areas, so that we can continue to create and responsibly maintain a better life for everyone.
We shall be the energy that weaves the future.
We promise.
We shall contribute to the realization of an exciting, sustainable future for people and society.
We shall contribute to the realization of an exciting, sustainable future for people and society.
Group’s Management Philosophy
SOCIAL IMPACTS
Initiatives
Energy transformation
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Since it was founded in 1885, Tokyo Gas has expanded the use of city gas for cooking, heating water and air conditioning for residential use, as well as for heat, air conditioning and gas cogeneration systems for commercial and industrial use. We have also worked at raising efficiency through area-based energy use, such as district heating and cooling. These initiatives have been extended overseas in recent years.
Value created so far
Convenient and comfortable everyday lifeEfficient use of energy
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Initiatives
Introduction and expansion of LNG
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Due to intensifying pollution problems and rising demand for energy, we introduced to Japan the use of LNG (liquefied natural gas), a clean and highly efficient energy source, in 1969. The introduction of this sulfur-free, high-calorie energy has since contributed to the reduction of air pollution and to stronger economic development. In recent years, we have accelerated efforts related to carbon-neutral methane.
Value created so far
Improved air pollution Stable energy supply to support economic development
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CO2/SOx/NOx emissions from natural gas(Based on coal as 100)
Initiatives
Disaster prevention measures
Tokyo Gas Network
Tokyo Gas Network
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We have built an earthquake-resistant infrastructure, such as by making strong facilities for the production and supply of city gas. We have also established SUPREME—a disaster prevention system to remotely cut off gas supply using seismic sensors installed in high density. This system immediately suspends gas supply to prevent secondary disasters. We are also working on dividing management of the pipeline networks into blocks in order to minimize supply cut-off areas.
Value created so far
Minimizing supply cut-off areas by dividing the pipeline networks into blocks
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In order to minimize supply disruption, the medium- and low-pressure pipeline networks are being divided into multiple blocks so that the gas supply can continue except in severely damaged areas.
TAX GOVERNANCE POLICY
Objective
This Tax Governance Policy sets out the principles adopted by TG Energy Trading Pte. Ltd. (“the Company”) in managing its tax affairs. As an LNG trading company operating in Singapore and internationally, we recognise that effective tax governance forms part of good corporate governance and supports sustainable business operations.
Our objective is to ensure that tax obligations are managed responsibly, that applicable tax laws are complied with, and that tax risks are appropriately identified, assessed and managed.
Our Approach
1.Compliance with Tax Laws
The Company is committed to complying with all applicable tax laws, regulations and reporting obligations in Singapore and in the jurisdictions where we conduct business.
In fulfilling this commitment, the Company’s key practices include timely tax filings; ensuring that commercial transactions are undertaken for genuine business purposes and are appropriately reflected in our tax reporting; and seek professional advice where tax legislation is complex or uncertain.
2.Governance and Management of Tax Risks
The Board of Directors and senior management recognise that tax governance is an important component of the Company's overall risk management framework. The Board is apprised of the Company’s overall tax governance strategy. The CFO, supported by the tax function, is responsible for overseeing the Company’s tax affairs, including producing timely, accurate and reliable tax returns and paying all taxes due.
The Company maintains an appropriate governance structure to support tax compliance with the following key practices:
- Maintain a sound system of risk management and internal controls to identify, assess and manage tax risks and ensure accurate tax reporting.
- Competent internal tax team to manage tax compliance and where necessary, to engage independent external advisors to seek their advice or clarification on complex issues.
Material tax matters and significant tax risks are escalated to senior management and, where appropriate, brought to the attention of the Board.
The Company periodically reviews its tax governance processes to ensure they remain effective and appropriate for the scale and complexity of its operations.
3.Relationship with Tax Authorities
The Company seeks to maintain a professional, transparent and cooperative relationship with the Inland Revenue Authority of Singapore (IRAS) and other relevant tax authorities. Accordingly, the Company will perform regular reviews of its tax filing positions and is committed to make accurate and timely disclosure to the IRAS. The Company will engage the IRAS to seek clarification or ruling on material and significant transactions to achieve certainty where necessary.
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