Jan. 25, 2021
Sumitomo Corporation makes ‘A List’ for corporate leadership in Water Security for 2 consecutive fiscal years
Sumitomo Corporation has been recognized for two consecutive fiscal years as one of the leading companies in corporate sustainability by the CDP(*), securing a place on its prestigious 'A List' for addressing water security. The CDP named 106 companies (30 companies in Japan) as water security 'A List' companies out of more than 5,800 companies around the world, with Sumitomo Corporation being the only integrated trading company in Japan.
While water demand is expected to increase on a global basis as a result of population growth, urbanization and industrialization, many places in the world suffer from severe droughts, heavy rains, and floods caused by climate change. Such water-related issues not only damage corporate production facilities, but also affect overall business activities through disruption of supply chains and distribution networks. Therefore, sustainability management that considers water-related issues as both risks and opportunities is essential.
In the "Key Social Issues and Long-Term Goals" set in FY2020, Sumitomo Corporation Group has identified set the "circular economy" as one of the 6 key social issues. We will continue to address this issue in terms of both risks and opportunities, while fully recognizing the finiteness of water resources, and will work to enhance sustainability management through our efforts to reduce water consumption, improve efficiency, and establish water infrastructure.
The CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted the number one climate research provider by investors, and working with institutional investors with assets totaling US$106 trillion, the CDP leverages investor and buyer power to motivate companies to disclose and manage their environmental impact. In addition to the hundreds of cities, states and regions, over 9,600 companies, comprising over 50% of global market capitalization, disclosed environmental data through the CDP in 2020.