Sumitomo Chemical Receives a Minister of the Environment Award (Silver Award) in the Environmentally Sustainable Corporations Section of the Ministry of the Environment's ESG Finance Awards Japan

Feb. 28, 2022

Sumitomo Chemical has been awarded the Minister of the Environment Award (Silver Award) in the Environmentally Sustainable Corporations section of the third ESG Finance Awards Japan, organized by Japan’s Ministry of the Environment. This is the first time the Company has received this award.

ESG Finance Awards Japan is a program which was founded by the Ministry of the Environment in 2019 in order to promote the dissemination and growth of ESG finance. The aim of the award in the Environmentally Sustainable Corporations Section is to evaluate those companies that have incorporated material environment-related opportunities and risks into their corporate strategy to increase their corporate value, while also exerting an outstanding positive impact on the environment and society, and to share the results broadly throughout society.

Sumitomo Chemical has been implementing its Sumika Sustainable Solutions^*1 initiative, a unique in-house certification system launched in 2016, to seize business opportunities through climate actions. The Company also pledged its support for the TCFD^*2 recommendations upon their publication in June 2017, and has since been stepping up efforts to make disclosures utilizing the TCFD framework. In addition, in December 2021, the Company published its grand design toward achieving carbon neutrality by 2050, setting out a direction for its initiatives and goals for its activities to reduce the Sumitomo Chemical Group’s greenhouse gas emissions. This Award is a recognition of these efforts.

The Sumitomo Chemical Group has taken strong encouragement from this honor, and will continue to work together to step up its efforts to resolve climate change and other pressing issues facing society. The Group will remain committed to delivering sustained growth and meeting the expectations of stakeholders by contributing to the creation of a sustainable society through its business.

*1 An initiative in which Sumitomo Chemical, based on evaluations by outside experts, designates those Group products and technologies that contribute, throughout their lifecycles, to responding to global warming or reducing environment impact, in order to promote their development and spread. As of February 2022, 57 products and technologies have been designated as Sumika Sustainable Solutions.

*2 A private sector-led task force established by the Financial Stability Board, an international organization which aims to stabilize the global finance system, at the request of the G20 finance ministers and central bank governors. The TCFD encourages companies to disclose information related to climate change.

Reference

Contact

Sumitomo Chemical Co., Ltd.
Corporate Communications Dept.
https://www.sumitomo-chem.co.jp/english/contact/public/