Sumitomo Chemical Registers as a TNFD Adopter and Endorses TNFD Recommendations

Jan. 16, 2024

Sumitomo Chemical has registered as a TNFD Adopter^*1 and endorsed the TNFD Recommendations, which were published in September 2023 by the Taskforce on Nature-related Financial Disclosures (TNFD). The Company will be announced as one of the TNFD Early Adopters at the World Economic Forum Annual Meeting held at Davos-Klosters, Switzerland, in January 2024.

The TNFD is an international initiative launched in June 2021. It aims to shift financial flows away from nature-negative outcomes and toward nature-positive outcomes^*2 by encouraging companies and financial institutions to disclose information about their nature-related issues.

Sumitomo Chemical recognizes the sustainable use of natural capital, which contributes to ecosystem conservation, as one of its material issues that should be addressed as a management priority. As such, in December 2011, the Company established Sumitomo Chemical's Commitment to the Conservation of Biodiversity, and has since been operating its business under this commitment. Furthermore, in order to enhance the Company's disclosure of nature-related information, Sumitomo Chemical has engaged in the TNFD Forum, which advocates for the goals and vision of the TNFD and supports its activities, since March 2022.

The Sumitomo Chemical Group will continue to work together to contribute to achieving a sustainable society through enhancing its disclosures based on the TNFD Recommendations, as well as creating solutions that contribute to ecosystem conservation.

*1    Companies and organizations that are willing to disclose information based on the TNFD Recommendations and have registered their commitment to do so on the TNFD website.
*2    A concept that aims to halt and reverse the loss of natural capital and biodiversity and put nature on a path to recovery, proposed at the 15th Conference of the Parties to the United Nations Convention on Biological Diversity (CBD COP15) held in 2021.

Reference

Contact

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