Sumitomo Chemical has formulated a grand design to achieve carbon neutrality by 2050, setting out a direction for its initiatives and goals for its activities. The Sumitomo Chemical Group commits itself to reducing its greenhouse gas emissions by 50% by FY2030, compared to the level of emissions in FY2013, and to achieving carbon neutrality by 2050. Having raised its emissions reduction target by FY2030 to 50%, on December 10, 2021, Sumitomo Chemical once again received certification from the Science Based Targets (SBT) initiative for this new target as meeting the standard of “well-below 2°C.” To achieve this newly certified target and carbon neutrality, Sumitomo Chemical will accelerate reductions in greenhouse gas emissions by approaching the issue from the perspectives of both obligations and contributions, implementing initiatives that are built on scientific, logical and quantitative foundations and leveraging the expertise and technological capabilities the Company has developed as a diversified chemical company.

 

As part of its mission as a diversified chemical company, the Sumitomo Chemical Group will implement initiatives to achieve carbon neutrality in a way that is characteristic of the Sumitomo Chemical Group and from the perspectives of both obligations and contributions:

1. The obligation the Group has to bring its own greenhouse gas emissions close to zero

2. The contributions the Group makes through its products and technologies to reducing global greenhouse gas emissions

 

In 2018, Sumitomo Chemical became the first diversified chemical company in the world to have its emissions reduction targets certified by the SBT initiative, and now it has once again received that certification, significantly increasing its emissions reduction target for FY2030 to meet the “well-below 2°C” standard. The Company will implement initiatives based on scientific, logical and quantitative perspectives to achieve this newly certified target, a reduction in its Scope 1 and Scope 2 emissions by 50% by FY2030. As achieving this target calls for making full use of the best available technology, in addition to taking thoroughgoing energy-saving measures, Sumitomo Chemical has now begun implementing a variety of initiatives, including building liquid natural gas (LNG) power generation facilities at its Ehime Works and deploying highly-efficient gas turbine energy generation equipment at its Chiba Works. The Sumitomo Chemical Group aims to achieve its goal of halving emissions by FY2030 by making full use of the Group’s capabilities, with a primary focus on its own direct greenhouse gas emissions. In addition, the Group will pursue a further increase in its emissions reduction target, with a view to having its target certified by the SBT initiative as meeting the standard of a “1.5°C pathway.”

 

The Sumitomo Chemical Group considers that it would be extremely difficult to meet its target for 2050 only by using existing technologies, and that innovation will be essential. Going forward, the Group will lead and advance a variety of initiatives to develop innovative technologies for carbon capture and utilization (CCU) and carbon negative solutions, as well as to deploy those technologies in society, in order to achieve carbon neutrality by 2050.

 

The Sumitomo Chemical Group, in collaboration with a broad range of stakeholders, will strive to deploy products and technologies that contribute to reducing greenhouse gas emissions in society as quickly as possible. Specifically, the Group will take a multifaceted approach only possible for a diversified chemical company, which comprises three elements:

 

Approach 1: Supplying products and solutions that contribute to carbon neutrality

Approach 2: In collaboration with various partners, accelerating the development of products and technologies that contribute to carbon neutrality, and leading efforts to promote their rapid deployment in society

Approach 3: Taking on long-term challenges, such as the development of carbon negative technologies

 

The Sumitomo Chemical Group commits itself to increasing the amount of recycled plastic resources used in its manufacturing processes to 200 thousand metric tons per year by FY2030.

 

The Group will work to advance plastic resource recycling in society by promoting plastic products manufactured using material or chemical recycling technologies under its new brand Meguri, while also partnering with businesses and industries engaged in processing and recycling used products, in order to contribute to a circular carbon economy.

 

The Sumitomo Chemical Group expects to invest about 200 billion yen by FY2030 in its initiatives to achieve carbon neutrality. From FY2013 to today, the Company has already made decisions with respect to about 80 billion yen of investments in areas such as energy-saving measures and fuel conversions that will lead to reduced greenhouse gas emissions. Going forward, to achieve its goal for FY2030, the Company aims to make additional investments totaling around 120 billion yen not only in reducing greenhouse gas emissions, but also in new businesses that will contribute to achieving carbon neutrality, including chemical recycling.

 

The Sumitomo Chemical Group has put forward contributing to the advancement of human society through its business activities as one of the pillars of its Business Philosophy. Going forward, the Group will continue to strive as one to resolve major issues in society, including the achievement of carbon neutrality by 2050.