Climate change response and shift toward a low-environmental-impact power generation portfolio
First written in FY2020. 4 of 8 entries say "Advanced", first in FY2022. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026AdvancedAnnual report
「GHG emissions covered by the Sumitomo Corporation Group's carbon neutrality target (preliminary figures) Scope 1 6,666 6,799 ＋133 2.0% Scope 2 490 485 △5 △1.0% Scope 3 Category 13 20,052 18,707 △1,345 △6.7% Category 15 17,778 16,305 △1,473 △8.3%」
Based on preliminary figures for fiscal 2025, Scope 3 Category 13 emissions decreased 6.7% from the base year and Category 15 emissions decreased 8.3%, while Scope 1 emissions increased 2.0% and Scope 2 emissions decreased 1.0%. - FY2026ReframedAnnual report
「For Scope 1 and 2 and Scope 3 (Categories 13 and 15), which are covered by the carbon neutrality target, the company aims to achieve carbon neutrality by 2050 as its long-term target and reduce total emissions by at least 30% in fiscal 2035 from the 2024 base year, comprising an 85% reduction in Scope 1 and 2 and a 20% reduction in Scope 3 (Categories 13 and 15), as its interim reduction target.」
The company updated its climate change targets to cover Scope 1 and 2 and Scope 3 (Categories 13 and 15), using fiscal 2024 as the base year. In addition to carbon neutrality by 2050, it set a target of reducing total emissions by at least 30% by fiscal 2035, comprising reductions of 85% in Scope 1 and 2 and 20% in Scope 3. - FY2025AdvancedAnnual report
「Fiscal 2019 (Base year) Fiscal 2023 Fiscal 2024 Reduction rate (vs. base year) Businesses other than power generation 1,005 782 672 △33.2% Power generation businesses 43,126 39,632 38,622 △10.4% Fossil energy interests business 15,808 11,192 11,564 △26.8% Total 59,939 51,606 50,857 △15.2%」
CO2 emissions covered by the carbon neutrality target decreased 15.2% in fiscal 2024 from fiscal 2019. The company also specified the long-term target of carbon neutrality by 2050 and an interim target of reducing emissions by at least 50% by fiscal 2035. - FY2024RaisedAnnual report
「• With regard to coal-fired power generation, the company will not engage in new power generation businesses or construction contracts. For existing coal-fired power generation businesses, it will reduce CO2 emissions by at least 60% by 2035 from 2019 levels and withdraw from coal-fired power generation businesses by ending all such businesses in the latter half of the 2040s. • With regard to thermal coal mine development businesses, the company will not acquire new interests and will reduce its attributable production volume to zero in the latter half of the 2020s. It will engage in natural gas development businesses only for projects that contribute to society's energy transition.」
The company revised its climate change policy in May 2024, specifying a reduction of at least 60% in coal-fired power generation emissions by 2035 and withdrawal in the latter half of the 2040s, zero attributable thermal coal production in the latter half of the 2020s, a halt to new interest acquisitions, and restrictions on natural gas projects. Emissions covered by the target were down 13.9% in fiscal 2023 from fiscal 2019. - FY2023AdvancedAnnual report
「Power generation businesses other than electricity generation 1,005 757 △24.7% Power generation businesses 43,126 42,613 △1.2% Fossil energy interests business 15,808 9,203 △41.8% Total 59,939 52,572 △12.3%」
For emissions covered by the target of achieving carbon neutrality by 2050, total emissions in fiscal 2022 were down 12.3% from fiscal 2019. In February 2022, the company also announced a policy of not engaging in any new coal-fired power generation businesses or construction contracts. - FY2022AdvancedAnnual report
「In fiscal 2021, the company sold part of its interests in fossil energy businesses and advanced its portfolio shift through measures including the promotion of renewable energy businesses, while also considering decarbonization and lower-carbon measures for its existing coal-fired power generation businesses.」
Toward carbon neutrality by 2050, the company sold part of its fossil energy interests, promoted renewable energy, and advanced decarbonization and lower-carbon measures for its existing coal-fired power generation businesses. - FY2021RaisedAnnual report
「To achieve carbon neutrality by 2050, the company will place greater emphasis on renewable energy power generation and domestic electricity retailing businesses that leverage environmental value.」
The company added a deadline of achieving carbon neutrality by 2050 and specific measures involving electricity retailing using renewable energy and environmental value to its existing policy of shifting to a lower-environmental-impact power generation portfolio. - FY2020First statedAnnual report
「With regard to climate change, a critical global issue, the company has adopted a policy of contributing through its businesses to resolving climate change issues necessary for sustainable social development and achieving a carbon-neutral society, and is continuously shifting resources in its power generation business toward power generation portfolios with lower environmental impact, including renewable energy.」
The company stated its policy of contributing to the resolution of climate change issues and to a carbon-neutral society, while continuously shifting its power generation portfolio toward renewable energy and other sources.