Sumitomo

Sumitomo Corporation Group operates as a global organization guided by Sumitomo’s Business Philosophy, which has formed the foundation for the company’s sustainable development over 400 years. The company’s business activities are structured around creating value and contributing broadly to society, with a credo stating that benefit for self and others, private and public interests are one and the same.

The Group operates through Strategic Business Units addressing key social challenges including building resilient and prosperous societies, overcoming climate change, preserving and regenerating natural capital, respecting human rights, developing talent and promoting diversity, equity and inclusion, and maintaining strong governance. The company has identified Material Issues as medium- to long-term commitments that guide sustainable growth alongside addressing social challenges.

In the mining business, Sumitomo Corporation Group addresses the concept of social license to operate, seeking to gain approval from local communities and societies for mining operations. The company operates a Komatsu dealer business in more than one country, supplying trolley-assisted or autonomous haulage system mining dump trucks to decarbonize mining sites. The Group maintains committed positions on fossil fuels, stating it will not make further investment in thermal coal mine development projects and aims to achieve zero production from thermal coal mines by the end of the 2020s, while for upstream gas development will only undertake projects that contribute toward society’s energy transition.