Mitsui & Co.’s Materiality
Identification and Review for Materiality
Identification Processes on Materiality
In March 2015, Mitsui & Co. defined five Material Issues for the company as the important management indices. In the specifying process, we identified various issues with respect to international frameworks, such as ISO 26000, and GRI Guidelines, and narrowed downed the materiality for stakeholders based on our dialogue with business associates, NPOs & NGOs, experts, and other stakeholders.
To ensure compatibility between the identified materiality and key corporate priority measures and strategies for each business domain, we carried out deliberations at the CSR Promotion Officer’s meeting (current Sustainability Promotion Officer’s meeting) and CSR Promotion Committee (current Sustainability Committee) and asked external experts to verify the adequacy, in order to define the key priority issues. Then, the identified material issues were approved by the Corporate Management Committee and the Board of Directors and were shared with all officers and employees.
At the same time, as a management approach in line with the GRI Sustainability Reporting Standards, we define specific themes to work on each material issue, and clearly indicate relevant policies and set targets accordingly.
Through this approach, we strive to implement measures to address issues by identifying material aspects and boundaries as indicated by GRI.
Review Process on Materiality
Each aspect of the materiality and the relevant themes to be addressed will be periodically reviewed in order to meet the changing needs and expectations of society and to reflect them in our Medium-term Management Plan and take into account those changes impacting the economy, environment, and society in our sustainable management.
As the basis for the periodical review, we have adopted the international initiatives that are stipulated in the diagram below:
- United Nations Global Compact
- Sustainable Development Goals (SDGs)
- OECD Guidelines for Multinational Enterprises
- Universal Declaration of Human Rights
- ILO Declaration on Fundamental Principles and Rights at Work
- Guiding Principles on Business and Human Rights
- GRI Sustainability Reporting Guidelines