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Our Sustainability Management

Commitment to External Initiatives

View Sumitomo Corporation's Sustainability : Commitment to External Initiatives

UN Global Compact

In March 2009, the Sumitomo Corporation Group signed the UN Global Compact and declared its support for the 10 principles, as this international CSR-related initiative shares the same values as our Corporate Mission Statement. We are raising the awareness of our officers and employees around the world regarding their purpose and making efforts to further increasing our corporate value by constantly seeking out areas of our business activities that can be improved in light of the values advocated by the 10 principles.

We are also actively participating in the activities of Japan’s local network, Global Compact Network Japan, as one of the board member companies.In FY2021, we took part in working groups on: environmental management related to climate change, biodiversity and other environmental issues; human rights due diligence; reporting; supply chain; SDGs; ESG; CSV and circular economy. Through this involvement, we acquire information on recent global trends in these areas, learn of examples of superior initiatives, and are provided insight from specialists. This knowledge is utilized to help the Company promote CSR.

The Global Compact (GC) was proposed by the former UN Secretary General Kofi Annan at the World Economic Forum (in Davos) in 1999 and officially launched in 2000 at the UN Headquarters in New York. The GC is an initiative aimed at realizing the sustainable growth of the global economy through the voluntary participation of businesses in a worldwide network. The UN invites companies and organizations from around the world to join in the GC and currently has over 16,000 companies and organizations from approximately 160 countries participating. The GC has compiled 10 universal principles recognized by the international community based on international agreements in the areas of human rights, labour standards, environment and anti-corruption. Participating companies adopt the 10 principles into their business operations and strategies and are expected to assume responsible and creative leadership as a good corporate citizen for the purpose of achieving sustainable growth.

The Global Compact's 10 Principles

Human Rights

1.Businesses should support and respect the protection of internationally proclaimed human rights; and

2.make sure that they are not complicit in human rights abuses.

Labour Standards

3.Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

4.the elimination of all forms of forced and compulsory labour;

5.the effective abolition of child labour; and

6.the elimination of discrimination in respect of employment and occupation.

Environment

7.Businesses should support a precautionary approach to environmental challenges;

8.undertake initiatives to promote greater environmental responsibility; and

9.encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

10.Businesses should work against corruption in all its forms, including extortion and bribery.

  • We also support the Universal Declaraion of Human Rights, which the 10 principles of the UN Global Compact are derived from.
DFF Inc.

Task Force on Climate-related Financial Disclosures (TCFD)

Sumitomo Corporation recognizes the importance of climate-related financial disclosures and supports the recommendations of the TCFD*, and further expand its information disclosure in accordance with the recommendations.

  • The Task Force on Climate-related Financial Disclosures was established by the Financial Stability Board(FSB). The final report to recommend further expansion of information disclosure was released in June, 2017.

Disclosure based on TCFD Recommendations

DFF Inc.

Task Force on Nature-related Financial Disclosures(TNFD)

Our business depends largely on natural capital, and biodiversity conservation is an important issue for the company. In June 2022, Sumitomo Corporation joined the TNFD Forum, a network of institutional supporters who share the vision and mission of TNFD*2. We will make further efforts to conserve biodiversity going forward.

  • Taskforce on Nature-related Financial Disclosures. A global initiative aimed to develop and deliver a risk management and disclosure framework for organizations to report and act on evolving nature-related risks.

Trial Analysis based on TNFD Beta Framework

DFF Inc.

Keidanren / Japan Foreign Trade Council

As a member of the Subcommittee on Global Environment of the Committee on Environment and Safety of Keidanren (Japan Business Federation), our company addresses global warming and climate change and helps design environmental policies that will not harm the economy. We also participate in Sustainability Promotion Committee and Global Environment Committee of Japan Foreign Trade Council, Inc. to discuss how to realize a low-carbon society and a recycling society, and how to comply with environment-related laws and regulations. In addition, we participate in the Social Contribution & ABIC Committee to cooperate in the expansion of ABIC activities and exchange information concerning social contribution activities in our industry. When assessing whether to join membership with an industry group, we confirm whether the group‘s climate change initiatives are consistent with our policy on climate change. Also, we implement appropriate climate change countermeasures regardless of the level of influence of the affiliated industry group.

DFF Inc.

Stakeholder Capitalism Metrics

Stakeholder Capitalism Metrics

In January 2021, Sumitomo Corporation supported and signed the Stakeholder Capitalism Metrics, a standard for non-financial information disclosure released by the International Business Committee (IBC) of the World Economic Forum (WEF). While utilizing this metrics, we will further expand the disclosure of non-financial information to our stakeholders.

Disclosure based on IBC Stakeholder Capitalism Metrics

DFF Inc.

Japan CCS Co., Ltd./ Global CCS Institute / Asia CCUS Network

We are a shareholder of Japan CCS Co.,Ltd. (JCCS). The company is conducting demonstration tests on the use of CCS technology, which involves capturing and storing CO2 in the ground, as well as chemical synthesis of CO2.
We joined the Global CCS Institute (GCCSI) to meet conditions desirable to apply CCS. Since 2021, the company has been participating in the Asia CCUS Network to share knowledge with and educate Asian countries with regard to CCUS.

DFF Inc.

GX League

In April 2023, Sumitomo Corporation joined the GX League* promoted by the Ministry of Economy, Trade and Industry (METI).
The GX League is a forum for a group of companies, the government, universities, and academic institutions to collaborate in taking on the challenge of achieving GX (Green Transformation) and sustainable growth, looking ahead to the carbon neutral in 2050 and transforming society.

In addition to aiming for our own group to be carbon neutral in 2050, we are also actively working on initiatives that will contribute to the carbon neutrality of the society as a whole.
We will further promote these efforts by utilizing the framework of the GX League.

  • Sumitomo Corporation endorsed the GX League Basic Concept, which lays out the basic guidelines for the full-scale operation of the GX League in March 2022.

GXL FOR WORLD

DFF Inc.

Support for Keidanren Declaration on Biodiversity and Action Guidelines

In January 2020, Sumitomo Corporation supported the "Keidanren Declaration on Biodiversity and Action Guidelines (Revised edition)" formulated by Keidanren and the Keidanren Committee on Nature Conservation.
This Declaration sets forth the determination and action guidelines to address biodiversity conservation issues from the corporate perspective in order to realize a sustainable society through building a society in harmony with nature. Recognizing the importance of biodiversity and natural activities, we will continue to work to maintain and conserve biodiversity to realize a sustainable society.

DFF Inc.

Keidanren Nature Conservation Fund (KNCF)

KNCF, which was established in 1992 and is comprised of Keidanren member companies that actively work on nature and biodiversity conservation, supports nature conservation activities and promotes exchange with NGOs. Sumitomo Corporation is participating in KNCF as its member.

DFF Inc.

Japanese Ministry of the Environment's "COOL CHOICE" Campaigns

For the target to reduce the amount of greenhouse gas emissions by 26% from FY2013 by FY2030 , Japanese Ministry of the Environment promotes "COOL CHOICE" campaign that recommends the "wise choice" which contributes to global warming measures by choosing low carbon type products, service and lifestyle.

Sumitomo Corporation participates in this campaign and promotes actions to conserve energy and reduce waste at its offices to realize the low carbon society.

DFF Inc.

Council for Better Corporate Citizenship (CBCC)

CBCC was established in 1989 with the support of Keidanren to provide support for activities that help Japanese companies to be accepted as good corporate citizens by communities in which they operate outside of Japan. As a member of CBCC, Sumitomo Corporation collects the latest information about CSR and engages in CSR dialogue with related organizations in and outside Japan.

DFF Inc.