The Sumitomo Electric Group recognizes that addressing global environmental issues including climate change is one of its key management issues. Based on its Environmental Policy,*2 the Group has been continuously and steadily promoting global environmental conservation activities, from a global perspective. Also, the Group is working to realize a sustainable society through the provision of products and services.
The Group's GHG emissions reduction targets by 2030, which have recently obtained SBTi certification, are as follows.
· Scope 1 + 2*3: 50.4% reduction by fiscal year 2030 compared to fiscal year 2018
· Scope 3*4: 36.0% reduction by fiscal year 2030 compared to fiscal year 2018
These targets are consistent with the target that the international climate change initiative aims to limit the increase in global average temperature to 1.5°C above pre-industrial levels. This target was established as a goal by the Paris Agreement.
The Sumitomo Electric Group remains committed to achieving its GHG reduction targets certified by SBTi to realize a "green" society outlined in its 2030 VISON.
*1 SBTi: An abbreviation for the Science Based Targets initiative. An international collaborative initiative composed of four organizations: CDP-an international non-governmental organization formerly known as the Carbon Disclosure Project; the United Nations Global Compact (UNGC); the World Resources Institute (WRI); and the World Wide Fund for Nature (WWF). SBTi certifies GHG reduction targets based on scientific evidence to be consistent with the Paris Agreement, which aims to limit global temperature rise to well below 2°C relative to pre-industrial levels and pursues efforts to limit the increase further to 1.5°C.
*2 Environmental Policy:
https://sumitomoelectric.com/sustainability/environment/management
*3 Scope 1 + 2: GHG emissions directly generated from sources owned or controlled by the business operator (Scope 1) and indirect emissions from the consumption of electricity, heat, and steam purchased from third parties. electricity and heat and steam.
*4 Scope 3: Indirect GHG emissions not covered by Scope 1 or Scope 2.