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The Sumitomo Corporation Group has signed the UN Global Compact and declared its support for the 10 principles.
Sumitomo Rubber Industries, Ltd. has announced that they have signed on to the ‘UN Global Compact (UNGC)’ put forth by the United Nations and were officially added to the registry of participating companies on 19th May, 2022.
One of the world’s largest sustainability initiatives, the UNGC aims to bring the United Nations, corporations and other organisations together for collaborative efforts to build a healthier global society. Companies and other organisations that have signed on to the UNGC are expected to engage in ongoing efforts to realise such a society, working under a Top Commitment that aligns with the Ten Principles of the UNGC, which concern the protection of human rights, the elimination of exploitative labour practices, the preservation of the natural environment and the prevention of corruption.
In light accelerating climate change and other major developments affecting global society faces today, the Sumitomo Rubber Group came to the conclusion that a new policy, one based on long-term perspectives to foresee the world of 2050, would be essential to the sustained growth and development of both the group and society as a whole. And so, the Group formulated and unveiled its 'Driving Our Future Challenge 2050' in August of 2021. This Long-Term Sustainability Policy sets forth various targets relating to key themes in the fields of Environment, Social and Governance (ESG).
Through its ‘Driving Our Future Challenge 2050’, the company will put the Ten Principles of the UNGC (concerning Human Rights, Labour, the Environment and Anti-Corruption) into practice throughout their business activities in order to contribute to the solution of various social issues toward the ultimate realization of a sustainable society.
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