Long-Term Environmental Vision and Environment 2029V
Shareholders and Investors, Suppliers and Other Trade Partners, Employees, Global Environment
On the Formulation of the Environmental Vision
Under the Sumitomo Spirit, the Sumitomo Riko Group is united in its efforts to become a "Global Excellent Manufacturing Company" in accordance with its Corporate Philosophy, "Strive to protect the global environment and to contribute to creating better communities".
In recent years, the movement toward the realization of a decarbonized society has spread rapidly around the world, with many countries and companies declaring themselves "Carbon Neutral by 2050." The Sumitomo Riko Group is also working to address global environmental issues as a matter of urgent importance, and is promoting information disclosure and environmental activities on a global level toward "Carbon Neutral by 2050" by endorsing the TCFD and acquiring SBTi certification as the Sumitomo Electric Group.
Global environmental issues, including not only climate change but also water risk, resource depletion, plastic waste issues, and loss of biodiversity, are becoming more serious and are recognized as important issues for the international community.
Against this backdrop, there is an accelerating global movement toward solutions to environmental issues, such as the "Sustainable Development Goals (SDGs)", "Carbon Neutral", the realization of a "Circular Economy," and efforts to conserve "Biodiversity."
In the midst of such drastic changes in the environment, we believe it is important to continue to provide abundant value while responding to global trends from a renewed long-term perspective in order to contribute to the realization of a sustainable society and to achieve sustainable development as a company.
Therefore, we have formulated the new "Sumitomo Riko Long-Term Environmental Vision 2050," which envisions the future in 2050, and have further formulated "Environment 2029V" in April 2023 by backcasting from this vision.
In recent years, the movement toward the realization of a decarbonized society has spread rapidly around the world, with many countries and companies declaring themselves "Carbon Neutral by 2050." The Sumitomo Riko Group is also working to address global environmental issues as a matter of urgent importance, and is promoting information disclosure and environmental activities on a global level toward "Carbon Neutral by 2050" by endorsing the TCFD and acquiring SBTi certification as the Sumitomo Electric Group.
Global environmental issues, including not only climate change but also water risk, resource depletion, plastic waste issues, and loss of biodiversity, are becoming more serious and are recognized as important issues for the international community.
Against this backdrop, there is an accelerating global movement toward solutions to environmental issues, such as the "Sustainable Development Goals (SDGs)", "Carbon Neutral", the realization of a "Circular Economy," and efforts to conserve "Biodiversity."
In the midst of such drastic changes in the environment, we believe it is important to continue to provide abundant value while responding to global trends from a renewed long-term perspective in order to contribute to the realization of a sustainable society and to achieve sustainable development as a company.
Therefore, we have formulated the new "Sumitomo Riko Long-Term Environmental Vision 2050," which envisions the future in 2050, and have further formulated "Environment 2029V" in April 2023 by backcasting from this vision.
Related information
Related information
Long-Term Environmental Vision 2050
As the world faces various environmental challenges, our vision for the future is a sustainable society in which "Safety and Comfort" are realized in all aspects of life around the world.
Prior to the formulation of the vision, we reviewed our materiality. In addition to the keywords "Decarbonizing Society," "Resource-Recycling Society," and "Society in Harmony with Nature," the slogan for our long-term vision is "Toward a future where everyone can enjoy a comfortable life."
Prior to the formulation of the vision, we reviewed our materiality. In addition to the keywords "Decarbonizing Society," "Resource-Recycling Society," and "Society in Harmony with Nature," the slogan for our long-term vision is "Toward a future where everyone can enjoy a comfortable life."
Toward a "Decarbonizing Society", we will energetically reduce CO２ emissions.
Toward a "Resource-Recycling Society", we will use resources carefully without wasting them.
Toward a "Society in Harmony with Nature", we will protect nature.
Toward a "Resource-Recycling Society", we will use resources carefully without wasting them.
Toward a "Society in Harmony with Nature", we will protect nature.
And the society we aim at in 2050 is as follows.
About Environment 2029V
We have formulated our mid-term environmental target "Environment 2029V" in order to realize the "Ideal State" envisioned in our long-term vision. We will contribute to a "Decarbonizing Society," "Resource-Recycling Society," and "Society in Harmony with Nature" with less impact on the environment, while taking on the challenge of growing our business and creating new value.
| Key Issues | Environment 2029V Action Goals | Environment 2029V Numerical Targets |
|---|---|---|
| Contribution to a Decarbonizing Society |
Reduce greenhouse gas emissions | Scope 1+2: 30% reduction in CO2 emissions (compared to 2018) |
| Scope 3: 15% reduction in CO2 emissions (compared to 2018) | ||
| Increase efficiency of energy use | Energy sales intensity 10% reduction (compared to 2022) | |
| Promote the introduction of renewable energy | Ratio of renewable electricity 2.5% increase (compared to 2022) | |
| Contribution to a Resource-Recycling Society |
Reduce waste | Reduce waste sales intensity by 7% (compared to 2022) |
| Aim to minimize waste | Reduce waste rate to 4% or less | |
| Promote the use of sustainable materials | Sustainable material usage rate: 20% or more | |
| Aim to minimize water use | Reduce water intake by 10% (compared to 2022) | |
| Contribution to a Society in Harmony with Nature |
Promote "visualization and reduction" of environmental impact on ecosystems in areas surrounding the company | Establish impact assessment methods for multiple environmental aspects, including local biodiversity, and disclose appropriate information |
| Aim to minimize environmental risk | Environmental incidents: Zero serious accidents, violations of laws and regulations, and complaints |