Sumitomo

Sumitomo Corporation, headquartered in Japan and operating within the other business services sector, has outlined ambitious climate commitments. For the reporting year 2024, the company reported a total of approximately 7.12 billion kg CO2e in emissions, comprising Scope 1 emissions of about 6.63 billion kg CO2e and Scope 2 emissions of approximately 490 million kg CO2e.

Looking at its Scope 3 emissions for 2025, Sumitomo Corporation anticipates significant contributions from downstream leased assets at around 20.1 billion kg CO2e and purchased goods and services at approximately 32.7 billion kg CO2e. Investments are projected to be about 17.8 billion kg CO2e, and the use of sold products are estimated at 38 billion kg CO2e.

Sumitomo Corporation has set a target to achieve carbon neutrality for its businesses by 2050. As an interim step, the company aims to reduce its total CO2 emissions by 50% or more by 2035, using 2019 as the base year. Additionally, specific targets include a 40% or more reduction in CO2 emissions from the power generation business by 2035, with a focus on reducing coal-fired power generation emissions by 60% or more during the same period. For its power generation portfolio in 2035, Sumitomo aims for 20% coal-fired, 50% gas-fired, and 30% renewables in terms of net ownership generation capacity. In relation to Kirui Corporation, the company aims to reduce CO2 emissions by 30% by FY2024 compared to FY2019 for both Scope 1 and Scope 2. Furthermore, a Science-Based Target aims for a 25% reduction in Scope 1 and 2 emissions per kg of fruit harvested by 2025 for Fyes, and a 10% reduction for Scope 3 for Fyes and its suppliers, all from a 2020 base year.