Sumitomo Chemical Receives CDP's Highest Rating in Corporate Climate Action and Water Security Action
Dec. 9, 2020
Sumitomo Chemical ("the Company") has been named on CDP's "Climate A List 2020" and "Water Security A List 2020" as a company recognized for its particularly excellent activities to address climate change and water security, including target setting, actions and transparency. The Company has been named on the Climate A list, the highest rating given by CDP, for the third consecutive year, and on the Water Security A list for the first time.
Established in 2000, CDP (formerly the Carbon Disclosure Project) is an international non-governmental organization that incentivizes companies and governments to become leaders in reducing greenhouse gas emissions, managing water resources, and conserving forests. On behalf of institutional investors around the world, CDP collects information about environmental efforts of leading companies and scores them. Of 9600 companies that disclosed their environmental efforts to CDP, 64 global companies and 17 Japanese companies received the highest ratings in terms of actions for both climate change and water security.
Sumitomo Chemical identified reducing environmental impact as one of the material issues to be addressed as management priorities. As for the climate action, the Company received validation for its targets from the Science Based Targets*1 initiative in October 2018—the first diversified chemical company in the world to receive such validation—and is also working on reducing greenhouse gas emissions in the entire life cycle of our products through "Sumika Sustainable Solutions*2." As for the water security action, the Company conducted water risk assessments at each production site in order to boost its efforts to reduce water use and enhance functionality in its purification treatment of industrial wastewater. The Company also works on reinforcing measures against intensified climate disasters so as to ensure a stable supply of its products.
Under the management principle of "working to contribute to society through its business activities," Sumitomo Chemical and all of its group companies unite as one to create economic value and social value to achieve their own sustainable growth, while also contributing to a sustainable society.
*1 Greenhouse gas emissions reduction targets set by companies, based on climate science, to meet the goals set in the Paris Agreement.
*2 An initiative started from 2016 in the Company, which designates certain products and technologies that address global warming and reduce burdens on the environment as Sumika Sustainable Solutions, and promotes their development and penetration in society.
Message from Keiichi Iwata, Representative Director & President
“Our designation on the A list 2020 by CDP” (posted on January 15, 2021)
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