Sumitomo Chemical identified seven material issues that it is now addressing as management challenges to sustainably create sustainable economic and social value. The seven material issues have been identified to serve as navigation beacons as we pursue initiatives that will contribute to the establishment of a sustainable society. They are considered issues of material importance from two perspectives: the creation of social value, involving initiatives directly related to Sumitomo Chemical’s current businesses, and the creation of future value, involving future-oriented initiatives that address the Company’s business prospects.
Material Issues and Foundations for Business Continuity
In addition to the seven material issues we defined, we recognize the following matters to be underpinning materiality and essential to our business foundations: occupational safety and health, industrial safety and disaster prevention; product safety and quality assurance; respect for human rights; healthcare; compliance; and anti-corruption. Although we do not deem these matters to be material in themselves, they are necessary for value creation. The Sumitomo Chemical Group will continue to ardently work on these matters in unison and disclose its efforts to external parties.
The foundations of business continuity are explained in more detail in each of the following sections.
Process for Defining Material Issues
We define material issues with consideration of opinions from various external parties and international guidelines and through participation in initiatives and communication with stakeholders, and comparing our own identified material issues with the social needs and issues identified by external parties, including the SDGs.