Sumitomo Heavy Industries Receives 'A-' Rating in CDP Climate Change Report and Water Security Report
March 06, 2024 at 06:17 pm IST
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Sumitomo Heavy Industries, Ltd. (Head Office, Shinagawa-ku, Tokyo; Representative Director, President, and CEO, Shinji Shimomura; hereinafter, 'the Company') received an 'A-' rating, indicating the leadership level of a company with superior initiatives and information disclosure, from CDP, an international environmental nonprofit organization which promotes climate change-related information disclosure, in CDP Climate Change Report 2023 and Water Security Report 2023.
The Company aims for the enrichment of disclosures and non-financial information in line with the TCFD (Task Force on Climate-Related Financial Disclosures) recommendations, and has improved by one level in the Climate Change Report from its 'B' rating last year, and by three levels in the Water Security Report from its 'C' rating last year.
In order to contribute to the realization of the CO2 reduction goals set forth by the Japanese government and of a sustainable society, the Company has set a carbon neutrality goal entailing achieving substantially zero CO2 emissions throughout the entire Company Group by 2050, and a CO2 emission reduction goal to achieve by 2030, thereby promoting responses to climate change.
Moving forward, the Company will continue to carry out various measures aimed at reducing CO2 emissions during product production, and contribute to reducing CO2 emissions during product usage by developing new products and technologies conducive to energy saving and decarbonization.
Regarding CDP
CDP is a UK-based international non-governmental organization that collects and analyzes information on corporate and urban environmental initiatives and discloses the results.
Today, in collaboration with more than 680 investors with over USD130 trillion in assets, companies are motivated to identify their environmental impacts, reduce greenhouse gas emissions, conserve water resources, and protect forests. The Company Group has provided responses to the Climate Change Report since 2012, and responses to the Water Security Report since 2017.
Sumitomo Heavy Industries, Ltd. specializes in the design, manufacturing and marketing of industrial and construction equipment. Net sales break down by family of products as follows:
- construction equipment (29.3%): hydraulic excavators, cranes, road machinery, etc.;
- precision machinery (20.8%): molding machines by injection, electric injection molding machines, medical use cyclotrons, etc.;
- equipment for environment protection (19.8%): energy generators, industrial wastewater processing systems, air pollution control units, etc.;
- machinery components (14.4%): power transmission and control systems (gears, power inverters, geared motors, gearboxes, etc.), motors, mechanical coupling systems, etc.;
- industrial equipment (11%): handling systems, logistic equipment, gas turbines, pumps, etc.;
- ships (4%);
- other (0.7%).