The Paris Agreement adopted in 2015 set forth the objective of limiting the increase in the global average temperature to 1.5 °C, by achieving an approximate 45% reduction in CO₂ emissions by 2030 compared to 2010 levels and by reaching net zero around 2050. In response thereto, the IEA (the International Energy Agency) projected then-current technologies and power generation costs based on computer simulations, published in its Future Outlook for the Power Generation Mix Report that the optimal solution would be to increase the share of renewable energy to approximately 50% by 2030 and to approximately 80% by 2050. Such recommendation was expressly referenced in the agreement document adopted at COP28 (the 28th Session of the Conference of the Parties) in 2023, and global trends have shifted toward the further expansion of renewable energy deployment. However, the Company’s target for the share of renewable energy by 2030 is approximately 20%, which would place the Company outside the global trend and would not contribute to the prevention of global warming. In addition, escalation of the crisis in the Middle East is expected to increase concerns over energy supply stability and to cause price increases. Renewable energy, as a domestically sourced energy, offers superior economic efficiency and public benefits and, therefore, should be expanded to the maximum extent practicable.