Mitsui & Co.’s 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.
Mitsui & Co.’s Materiality
In April 2019, Mitsui & Co. has reviewed and revised its Materiality, which defines important management priorities for the achievement of sustainability growth.
While the importance of sustainability has been increasing globally, as expressed in environmental, social, and governance (ESG) aspects and the United Nations Sustainable Development Goals (SDGs), mega-trends with the potential to impact on our business activities are rapidly changing. In response to these, we have now revised Mitsui’s Materiality, which was originally defined in March 2015, and newly identified the following five material issues.
Secure sustainable supply of essential products
Ensure the sustainable and stable supply of resources, materials, food and manufactured products that are vital for the development of society.
Enhance quality of life
Contribute to the betterment of living standards and the development of local industries to realize sustainable societies globally.
Create an eco-friendly society
Accelerate initiatives towards environmental issues, such as responding to climate change and water resource problems, and contributing to a circular economy.
Develop talent leading to value creation
Respect diversity and develop human resources with the competence to create innovation and new value.
Build an organization with integrity
Strengthen our governance and compliance as a corporate group trusted by society.
In carrying out this revision, we took into account both the perspective of various stakeholders in relation to the SDGs, international guidelines and ESG assessments as well as the viewpoint of impact on our business activities. We exchanged views with our external directors and experts, and carried out questionnaire surveys of officers and employees on a global group basis. After having active discussions within and beyond Mitsui and obtaining approval from the Corporate Management Committee and the Board of Directors, we identified our new Materiality.
The Materiality represents risks and opportunities in relation to our business strategies from the medium- to long-term perspective. All officers and employees of Mitsui regard the said five material issues as a set of medium- to long-term management priorities, and will work on those collaboratively in a united manner. Mitsui will continue to promote sustainability management, and from a well-balanced long-term perspective, will contribute, through our wide-ranging global business activities, to both sustainable economic and social development in various countries and regions throughout the world, as well as to the solution of global problems, such as climate change issues.
As a corporation that operates across countries and regions around the world, we recognize that impact on the global environment has the potential to risk the sustainable growth of society and our company.
The establishment of supply sources for resources, such as energy, metals, water, food resources, chemicals, and materials, as well as the stable supply of these resources and materials have become important social priorities because of demand expansion driven by population growth and the desire for a better standard of living, especially in emerging countries.
We recognize the importance of contributing to the lives of people in the countries and regions where we do business, with respect to the enhancement of quality of life, development of local industries, development of the educational environment, and the creation of employment opportunities.
As a company with a diverse range of value chains in many countries and regions, we regard respect for human rights, including those of business associates and consumers, based on international standards as the foundation of sustainability management.
Corporate governance is the foundation for our efforts to make a continuing contribution to society through our business activities and maintain our status as a company trusted by society. We regard the enhancement of corporate governance and internal controls as key priorities, in addition to the fostering of human resources who support these efforts and constitute the foundation for all of our company’s business activities.