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View Sumitomo Corporation's Sustainability : Governance of Sustainability Management
The Board of Directors renders decisions concerning key management matters in light of the diverse opportunities and risks related to sustainability in the Group's wide range of business activities. In addition, the Board of Directors oversees the decision-making and operation of the business by the Management Council and the Executive Officers.
For decision-making on important management matters, the Board of Directors deliberates and determines on the matters which are submitted to the Board of Directors after review by the Management Council and its advisory bodies, including the Company Investment Committee, the Corporate Sustainability Committee and the Corporate Strategy Promotion Committee.
Furthermore, the Board of Directors receives reports on company-wide measures and themes several times a year, including a review of the progress of medium- and long-term goals based on the Material Issues and a review of compliance with sustainability-related policies, and supervises the status of initiatives by the business execution side as the Board of Directors.
The Board of Directors have identified the types of knowledge, experience, and competencies, etc. (hereinafter “Skills”) which enables the Board of Directors to adequately fulfill its roles of making decisions on important business matters and supervising business execution. Sustainability is one of the Skills. For details, please refer “The knowledge, experience and competencies, etc. (Skills) that the Board of Directors is required to possess, and Skills that Directors or Audit & Supervisory Board Members currently in office possess”.
In addition, to ensure that the Company's officers, including directors, are more aware of our commitment to the advancement of sustainability management, evaluation based on the non-financial indicators (“climate change”, “promotion of women's active engagement” and “employee engagement”) is used to calculate the amount of the remuneration of officers. For details, please refer to “Executive Remuneration Plan”.
The Management Council and executive management are responsible for decision-making and business execution of important sustainability-related management matters of the Group. The Management Council makes comprehensive decisions after consulting with the Corporate Sustainability Committee and other committees in order to assess and manage sustainability-related risks and opportunities and make effective decisions.
In addition, with regard to sustainability-related initiatives and responding to risks and opportunities, the Corporate Sustainability Department, which is a specialized organization in charge of planning and disseminating measures to promote sustainability within the Company, and related corporate organizations such as the Corporate Planning & Coordination Department, which plans the Company's overall management plan and important measures, as well as and the person in charge of sustainability promotion in each business group, and overseas regional organizations work together. Based on information provided by the Company's internal research organizations, the Business Groups, overseas regional organizations, etc., we formulate and promote company-wide plans and measures.
On top of that we have established the Sustainability Advisory Board, which is comprised of outside experts on ESG, to obtain advice and recommendations on our overall sustainability management.
External Advisors (FY2024)
Sadayosi Tobai, Chief Executive Officer, WWF Japan
Hidemi Tomita, Chief Executive Officer, Institute for Sustainability Management
Takashi Nawa, Professor, Kyoto University of Advanced Science and Visiting Professor, Hitotsubashi University Graduate School
Junko Watanabe, Attorney-at-Law, Nishimura & Asahi (Gaikokuho Kyodo Jigyo)