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)