Key Social Issue

Mitigation of climate change

Responsibility of the Sumitomo Corporation Group to
achieve carbon neutrality by 2050

Long-term goal

Aim for carbon neutrality by 2050 and challenge to realize sustainable energy cycle

Medium-term goals

Reduce the Group's CO2 emissions 50% or more by 2035 (compared to 2019)

  • Reduce CO2 emissions of the power generation business by 40% or more by 2035 (of which reduce 60% or more for coal-fired power generation business); power generation portfolio in 2035 to comprise 20% coal-fired, 50% gas-fired and 30% renewables*1 in terms of net ownership generation capacity.
  • Reduce indirect CO2 emissions*2 associated with the fossil fuel upstream business by 90% or more by 2035.
  • Reduce CO2 emissions in all other businesses*3.

Establish businesses that will form the foundation for a sustainable energy cycle in society

  • Develop hydrogen and other forms of carbon-free energy, increase supply of renewable energy (5GW or more by 2030)*4, and expand new power and energy services.
  • Expand businesses encouraging electrification, fuel conversion, improved energy and coal efficiency, and energy conservation.
  • Capture, store and utilize CO2 via carbon recycling, forestry business, CCS, and emissions credit trading, etc.

*1 As of 2020: Coal 50%, gas 30%, renewables 20%
*2 Indirect CO2 emissions generated by others with the use of fossil fuel
*3 Contribute to CO2 reduction by setting targets for individual businesses
*4 As of 2020: 1.5GW (1GW = 1 billion W)

Mitigating climate change by developing a sustainable energy cycle

Mitigating climate change is a serious challenge that must be overcome to realize a sustainable society. As such, we must make the transition to a society that emits as little CO2, methane, and other greenhouse gases as possible by converting to renewable energy and other forms of clean energy and conserving energy in industries and households. It will also be necessary to balance residual emissions and absorption of CO2 to create a sustainable energy cycle by maintaining and recovering CO2 absorbed by forests, marine plants, and other natural capital and capturing, storing, and utilizing CO2 through new technologies and business models that consider it a resource.

While leveraging the business foundation we have established, we are developing businesses that contribute to the carbon neutrality of society together with a wide range of partners. Our initiatives include reducing CO2 emissions and energy consumption in manufacturing businesses; contributing to the capture and storage of CO2 through sustainable forestry business; developing carbon-free energy sources such as hydrogen, ammonia, and next-generation biofuels; and establishing carbon-free platforms such as large-storage batteries. Through these efforts, the Group will contribute to the realization of a sustainable society.


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