Sumitomo Electric

Sumitomo Electric, a prominent company in the "Electricity nec" industry based in Japan, has demonstrated a commitment to reducing its carbon footprint. In the reporting year 2024, the company reported total Scope 1, 2, and 3 emissions of approximately 37.2 billion kg CO2e.

Breaking this down, Scope 1 emissions were approximately 266 million kg CO2e, while Scope 2 emissions stood at about 1.35 billion kg CO2e. The majority of emissions, approximately 25 billion kg CO2e, were reported under Scope 3, with significant contributions from the use of sold products and purchased goods and services.

Sumitomo Electric has set ambitious climate targets. By 2030, the company aims for a 30% reduction in Scope 1 and 2 emissions and a 15% reduction in Scope 3 emissions, both compared to the fiscal year 2018 baseline. Furthermore, Sumitomo Electric is working towards achieving carbon neutrality for its Scope 1 and 2 emissions from manufacturing operations by 2050.

The company's commitment is further underscored by its inclusion in the Science Based Targets initiative (SBTi). Sumitomo Electric has committed to reducing its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 30% by fiscal year 2030/31, using a fiscal year 2018/19 base year. It also pledges to reduce absolute Scope 3 GHG emissions by 15% over the same timeframe. For indirect use phase emissions within Scope 3, a further 15% reduction is targeted. These SBTi-aligned targets are classified as consistent with reductions required to keep warming to well below 2°C.