Sumitomo Chemical Receives CDP's Highest Rating in Corporate Climate Action and Water Security Action
Dec. 8, 2021
Sumitomo Chemical ("the Company") has been named on CDP's "Climate A List 2021" and "Water Security A List 2021" 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 fourth consecutive year, and on the Water Security A list for the second consecutive year.
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 (GHG) 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 13,000 companies that disclosed their environmental efforts to CDP, 54 companies in the world, of which 18 were Japanese companies, received the highest ratings in terms of actions for both climate change and water security.
Sumitomo Chemical has identified reducing environmental impact as one of the material issues to be addressed as management priorities. As for the climate action, the Company has been implementing a variety of initiatives that will lead to GHG emissions reduction, including fuel conversions and switching electricity purchased to renewable energy at its plants. The Company is also considering raising its GHG emissions reduction targets, which were validated by the Science-Based Targets* initiative in October 2018, and plans to announce new targets by the end of 2021. With regard to the water security action, the Company is increasing its efforts to reduce water use at each production site, based on water risk assessments. In addition, the Company has been making supplier engagement efforts through holding briefing sessions for its major suppliers to ensure awareness about the importance of water risk mitigation and the conservation of biodiversity.
The Sumitomo Chemical Group has taken strong encouragement from these assessment results, and will work together to step up its sustainability efforts. Going forward, the Group will continue to deliver sustained growth and meet the expectations of stakeholders by contributing to the creation of a sustainable society through our business.
* Greenhouse gas emissions reduction targets set by companies, based on climate science, to meet the goals of the Paris Agreement.
Message from Keiichi Iwata, Representative Director & President
“Our designation on the A list 2021 by CDP” (posted on January 19, 2022)
* This video will be posted on Sumitomo Chemical Official LinkedIn Account.
Sumitomo Chemical Official LinkedIn Account
Sumitomo Chemical Co., Ltd.
Corporate Communications Dept.