Updated Carbon Neutrality Target
Sumitomo Corporation has revised its carbon neutrality target, aiming for a 30% reduction in emissions by FY2035 and achieving full carbon neutrality by 2050. The updated target now includes Scope 1/2 and Scope 3 emissions, specifically focusing on Category 13 (downstream leased assets) and Category 15 (investments).
Scope and Base Year
The new base year for measuring emission reductions is set to FY2024. The company has expanded its Scope 3 boundaries to better engage with emitters in the supply chain and prioritize reduction efforts across its diverse business domains.
Separate Business Targets
Sumitomo maintains separate emission reduction targets for its thermal power generation and fossil fuel upstream businesses. These sectors will continue to have distinct goals apart from the broader corporate carbon neutrality objectives.
Commitment to Climate Change
The company is committed to addressing climate change by developing sustainable energy technologies and business models. It collaborates with business partners and public institutions to contribute to a carbon-neutral society.
