Response to Climate Change
Basic ConceptThe impact of climate change, which is becoming increasingly serious year by year, is an environmental issue that significantly affects social, environmental and corporate activities beyond generations on a global scale. Examples of its impact include weather disasters, the impact on water resources and agriculture, changes in ecosystems, and the impact on human health. The Sumitomo Corporation Group, operating business in a wide range of fields globally, recognizes these outcomes as serious risks. To mitigate their impact and balance our growth and sustainable development of society, we place great importance on mitigating climate change and adapting to its impact. In 2017, we identified the six material issues to achieve sustainable growth with society, including “achieving harmony with the global environment” that clarifies our commitment to mitigating climate change.
As a board member of the Global Compact Network Japan, we participate in the Environmental Management Working Group, incorporating information obtained from NGOs and experts as well as through information exchange into our environmental management related to climate change issues. We recognizes the importance of climate-related financial disclosures and supports the recommendations of the TCFD (＊1), we will further expand our information disclosure in accordance with the recommendations through correspondence to CDP (＊2) survey and on the home page.
We pay due consideration to the impact that our business activities have on climate change as a major element, and are actively working on the renewable energy business, centering around wind and solar power, in addition to the rechargeable battery business.
＊1 TCFD: 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.
＊2 CDP: A UK-based global non-governmental organization that discloses environmental information collected from companies and cities. The scale of CDP’s environmental survey is the world's largest.