Sumitomo Chemical Establishes KPIs for Seven Material Issues for Sustainable Value Creation: Creating Both Economic Value and Social Value

Nov. 28, 2019

Sumitomo Chemical has recently established key performance indicators (KPIs) for seven material issues that it addresses as management priorities.

Sumitomo Chemical identified seven material issues in March of 2019 to achieve in order to contribute to the establishment of a sustainable society while achieving the sustainable growth of its business. They focus on issues of material importance mainly from two perspectives: those for the creation of social value, which are initiatives directly related to Sumitomo Chemical’s current businesses, and those for the creation of value in the future, which represent the Company's future-oriented initiatives.

Seven Material Issues

The KPIs for the seven material issues were decided by the Sustainability Promotion Committee in October of 2019 after also considering the opinions of outside experts. The KPIs for the material issues for social value creation were established in accordance with 169 targets under the 17 Sustainable Development Goals and delineate how the Sumitomo Chemical Group will contribute to achieving each of these goals. With regard to the material issues for value creation in the future, Group-wide numerical targets were established to track progress on the promotion of technology innovation and research and development as well as initiatives for digital innovation, while KPIs for the promotion of diversity and inclusion will be established by each group company in light of the diverse circumstances surrounding each country and region. Sumitomo Chemical believes the KPIs will make it possible to better evaluate the progress of planned initiatives, while also promoting a more effective dialogue between the Company and its internal and external stakeholders.

KPIs for Seven Material Issues

Toward achieving a sustainable society, all companies of the Sumitomo Chemical Group will work as one, exercising their creativity to the fullest as the Company seeks to solve social issues through the creation of new value by harnessing the power of chemistry.

*1 Example of target 13.3: Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning.

*2 The initiative designates the Group's products and technologies that can contribute to lessening effects of climate change or reducing the environmental impact of business activities and promotes their commercially viable development and widespread use.

Reference

Sumitomo Chemical Group’s Sustainability
https://www.sumitomo-chem.co.jp/english/sustainability/management/materiality/

169 concrete targets under 17 goals to achieve SDGs
https://www.un.org/sustainabledevelopment/sustainable-development-goals/

Contact

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