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Sustainability
Six Material Issues to Achieve Sustainable Growth with Society
We introduce the material issues that the Sumitomo Corporation Group addresses with priority to achieve sustainable growth with society.
The basis for the Sumitomo Corporation Group’s operations can be found in Sumitomo’s Business Philosophy, which has formed the foundation for Sumitomo’s sustainable development over the course of 400 years. One of the credos of this philosophy states: “Benefit for self and others, private and public interests are one and the same.” We interpret this credo advocates Sumitomo’s business activities must benefit not only Sumitomo, but also society around us to achieve sustainable growth together.
This credo has been incorporated into Sumitomo Corporation Group’s Corporate Mission Statement. Guided by our Corporate Mission Statement, we have continued to conduct our business activities with the aim of being a global organization that constantly stays a step ahead in dealing with change, creates new value, and contributes broadly to society.
To achieve sustainable growth into the future through the resolution of social issues , in 2017, we have identified our Material Issues that we should address by leveraging our strengths in line with Sumitomo’s Business Philosophy and Sumitomo Corporation Group’s Corporate Mission Statement. In 2024, discussions with stakeholders—both within and outside the Group—were conducted over the course of approximately one year from the perspective of value creation, with consideration also given to the further aggravation of social issues such as climate change and the loss of biodiversity, the Group’s strengths, and expectations from stakeholders. The Material Issues were merged and updated.
The Material Issues are a medium- to long- term commitment that goes one step further toward addressing key social challenges that the Group must undertake. The Group will achieve sustainable growth through addressing the social challenges.
Build resilient and prosperous society
We create a virtuous circle in which all people can enjoy physically and mentally enriched lives, and we can grow and develop together with local communities by stepping ahead in dealing with the needs of people in various countries and regions.
Overcome climate change
We work together with stakeholders to decarbonize society and promote the realization of a carbon-neutral and resilient society, while taking into consideration the characteristics of the respective industry and region.
Preserve and regenerate natural capital
To achieve a world living in harmony with nature, we avoid or minimize the impact on natural capital caused by our business activities and go beyond preservation to also pursue regeneration and effective use of natural capital through the building of a circular economy and other measures.
Respect human rights
Striving to respect the human rights of every stakeholder involved in our supply chain is the foundation of all corporate activities. We work to identify and to prevent or mitigate any adverse impact on human rights, as well as to ensure the safety and security of our stakeholders.
Develop talent and promote DE&I
We recognize Diversity, Equity & Inclusion (DE&I) as the core enabler for value creation, innovation and competitiveness. In order to create new value and innovation by allowing our diverse personnel to fully exercise their abilities in a variety of fields, we will promote the development and empowerment of human resources, which represent our most important management capital.
Maintain and strengthen governance
We will develop an autonomous Group management system that responds to changes in the business environment with agility, and maintain and strengthen our efficient, sound, and transparent governance system.
The Sumitomo Corporation Group CSR Action Guidelines for Supply Chain Management
Established in November 2009
Revised in November 2013
The Sumitomo Corporation Group aims to be a global organization that, by constantly staying a step ahead in dealing with change, creating new value, and contributing broadly to society, strives to achieve prosperity and realize the dreams of all our stakeholders through sound business activities in strict adherence to our Corporate Mission Statement, and the management style principle contained therein, wherein prime importance is given to integrity and sound management with the utmost respect being paid to the individual.
In order to promote sustainability and social wellbeing in accordance with our mission, the Sumitomo Corporation Group hereby sets down these CSR Action Guidelines for Supply Chain Management. With a view to further strengthening the global relations which form one of the foundations of our core competence of integrated corporate strength, we request our suppliers and business partners to kindly accept, understand, and practice these guidelines so that together we can achieve responsible value chain management.
1
Respect human rights and not to be complicit in human rights abuses
2
Prevent forced labor, child labor and the payment of unfairly low wages
3
Not engage in discriminatory employment practices
4
Respect the rights of employees to associate freely in order to ensure open and fair negotiations between labor and management
5
Provide employees with safe and healthy work environments
6
Protect the global environment and give due consideration to biodiversity
7
Ensure the quality and safety of products and services
8
Ensure fair business transactions, to abide by all applicable laws, rules and regulations, and to prevent extortion, bribery and all other forms of corrupt business practices
9
Ensure appropriate information security
10
Cooperate with members of local host communities and contribute to sustainable regional development
11
Disclose information regarding the above in a manner both timely and appropriate
Sumitomo Corporation Group Environmental Policy
Basic Policy
The Sumitomo Corporation Group recognizes that environmental issues are global in scale and that they are long-range concerns affecting future generations. As a global organization, the Sumitomo Corporation Group, through sound business activities, will strive to achieve sustainable development aimed at both social and economic progress and environmental preservation.
Basic Guidelines
In pursuing its diversified business activities both within Japan and overseas, the Sumitomo Corporation Group shall comply with the following guidelines, and, through cooperation between its Group companies, work to achieve the aims of its environmental Basic Policy.
1Basic stance with regard to the environment
To place great importance on protecting the global environment as a good corporate citizen in accordance with the Sumitomo Corporation's Activity Guidelines.
2Compliance with environmental legislation
To strictly observe legislation related to environmental matters not only in Japan but also overseas, and to abide by any agreements made.
3Caring for the natural environment
To place great importance on preserving the environment, including the natural ecosystem and biodiversity.
4Response to climate change
To place great importance on mitigating climate change and adapting to its impact.
5Efficient use of resources and energy
To be mindful of the finite availability of resources and energy and strive to use them both efficiently and effectively.
6Contributing to the building of a recycling-oriented society
To endeavor to help build a recycling-oriented society by reducing waste and reusing and recycling resources.
7Promotion of businesses that contribute to environmental preservation
To utilize our integrated corporate strength to promote businesses and projects, which contribute to environmental preservation and reduction of the impact of society on the natural environment.
8Establishment of environmental management
To use an environmental management system to prevent environmental pollution and set environmental objectives and targets which are regularly reviewed and continuously upgraded.
9Disclosure of the environmental policy
To communicate this Environmental Policy to all people who are working for or on behalf of the Sumitomo Corporation Group, as well as disclosing it externally.
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