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Sustainability at Mitsui & Co. and the Management Framework

Sustainability Management Framework

Sustainability Management Framework

In the fiscal year ended March 2005, Mitsui & Co. established the CSR Promotion Committee (currently the Sustainability Committee) under the Corporate Management Committee to develop Mitsui's internal framework with respect to sustainability, and to work to raise sustainability awareness among employees.

Reflecting the growing interest in the UN Sustainable Development Goals (SDGs) and ESG in recent years, we established the Sustainability Committee on May 1, 2017, in order to further clarify our unchanging stance toward creating new value for society through business activities and to pursue further mutual sustainability between society and the company. In May 2017, we established the Sustainability Committee in order to further clarify our unchanging stance toward creating new value for society through business activities and to pursue further mutual sustainability between society and the company. With the Sustainability Committee playing a central role, Mitsui promotes sustainability-related activities based on cross-organizational collaboration to meet the needs and expectations of society in relation to companies' social values and initiatives.

In April 2019, we established the Corporate Sustainability Division, whose role is to promote and drive company-wide sustainability management and to accelerate various initiatives on a global group basis. The Corporate Sustainability Division strives to raise sustainability awareness and share values at the Mitsui & Co. global group level, with the aim of contributing to the achievement of sustainable social and economic development in various countries and regions around the world, while also contributing to solving global environmental problems such as climate change.

 

We appoint Sustainability Promotion Officers in corporate staff divisions and business units in the Head Office, overseas regional business units, regional blocs, and offices in Japan, developing our internal network to facilitate planning and promotion of sustainability activities together with the frontline staff, including provision of support for implementing sustainability management and awareness-raising activities at each unit. In the fiscal year ended March 2020, we held a Sustainability Promotion Officers meeting on a quarterly basis, where we explained new policies relating to our sustainability initiatives and other important information discussed and formulated by the Sustainability Committee, held lectures on ESG information disclosure, and conducted training programs on business and human rights.

Moreover, the Sustainability Promotion Officers have taken the initiative in organizing various sustainability awareness-raising programs, such as in-house sustainability seminars and lectures by speakers from partner companies and external experts, as well as workshops regarding sustainability within the actual business.

Sustainability Management Promotion Framework

Sustainability Committee

As an organization under the Corporate Management Committee, the Sustainability Committee aims to promote management with a greater awareness of sustainability by developing basic policies on our sustainability management and related plans, and by making proposals on our management policies and business activities from a sustainability standpoint.

The Sustainability Committee consists of the CSO (the Committee Chair), CHRO and CFO (the Vice Chairs), Deputy CSO, and the GMs of the Corporate Staff Divisions including the Corporate Sustainability Division, Corporate Planning & Strategy Division, Human Resources & General Affairs Division, Legal Division, Investment Administrative Division, Corporate Communication Division, Finance Division, and Investor Relations Division. The committee has the following duties:

  1. Develop basic policies on the company's sustainability management and fundamental plans for activities to promote sustainability.
  2. Review and make proposals on the company's management policies, business activities, as well as policies and strategies of corporate divisions from the perspective of sustainability.
  3. Present proposals on company-wide policies and actions related to environmental (climate change, circular economy, environmental pollution, biodiversity, etc), social (human rights, supply chain management, social contribution activities, etc.) or governance issue.
  4. Make proposals on sustainability-focused business activities (understanding risks and opportunities involved in business).
  5. Deliberate and establish the basic policy of the effective disclosure of information to stakeholders.
  6. Consider and present proposals relating to progress reviews and monitoring required for management.
  7. Configure and establish the internal structure for promoting sustainability management of the company.
  8. Identify the material issues to focus on each year for promoting sustainability management of the company and ensure progress on these.
  9. Respond to issues related to sustainability management, both internal and external to the company.
  10. Decide and report whether to support individual proposals which qualify under the matters of Specially Designated Business, and indicate the necessary cautions for projects that will be supported.
  11. Approve important matters (basic policies, business plans, etc.) relating to the Mitsui & Co. Environment Fund stipulated in Basic Policy of the Mitsui & Co. Environment Fund.
  12. Select proposals from applicants for the Environment Fund grants.
  13. Decide and report whether to support an exceptional acquisition of forests or the disposal of company owned forests, which is out of the scope of the guidelines on the acquisition of a new forest and disposal of company owned forests, based on Rules on the Management of Company Owned Forests.

Furthermore, the Environmental & Societal Advisory Committee has been established as the advisory body to the Sustainability Committee. The committee members are selected mainly from among external experts who are familiar with a broad range of fields, including climate change, environmental policy with respect to water and energy, etc., technology trends, human rights and other matters.

The details of discussions held at meetings of the Sustainability Committee are reported regularly to the Corporate Management Committee and the Board of Directors. These reports are used to help to determine our management policy. The Board of Directors oversees the Sustainability Committee to ensure that its activities are conducted in an appropriate manner (The number of cases related to management strategy, sustainability, and governance that were discussed by or presented to the Board of Directors in the fiscal year ended March 2020 was 25 out of a total of 70.)

Sustainability Committee Meetings in FY 2020

1st Meeting (June 7, 2019)
  • Deliberations on climate change-related matters (scenario analysis)
  • Report on the Sustainability Report 2019 editorial policy and progress
  • Report on global social contribution activities in the fiscal year ended March 2019
  • Deliberations on the Mitsui & Co. Environment Fund activity policy for the fiscal year ending March 2020
2nd Meeting (September 2, 2019)
  • Deliberations on the statement under the UK Modern Slavery Act
  • Progress report on climate change-related matters (scenario analysis)
  • Deliberations on the Corporate Strategy under the Medium-term Management Plan: Setting
  • Sustainability-related Targets and Priorities (1)
3rd Meeting (October 15, 2019)
  • Deliberations on climate change-related matters (scenario analysis)
  • Report on circular economy initiatives and policy
  • Deliberations on the Corporate Strategy under the Medium-term Management Plan: Setting
  • Sustainability-related Targets and Priorities (2)
4th Meeting (December 19, 2019)
  • Report on business and human rights, and review of supply chain management
  • Deliberations on the policy for responding to ESG surveys
  • Deliberations on climate change-related matters (introduction of an internal carbon pricing system)
5th Meeting (February 27, 2020)
  • Deliberations on the review of sustainability-related policies
  • Deliberations on the Corporate Strategy under the Medium-term Management Plan: climate change related matters (GHG emissions reduction target)
  • Report on the Sustainability Report 2020 editorial policy
  • Report on sustainability management promotion activities in the fiscal year ending March 2020, as well as action plans for the fiscal year ending March 2021

Raising Awareness on Sustainability Management

Mitsui has designated June as our Sustainability Month and holds lectures aimed at raising awareness on sustainability management.

Furthermore, even in other months, we conduct lectures on Mitsui’s sustainability management in the New Hire Induction Training, and more than 50 briefings for corporate staff units and business units, which had over 1,000 participants in all. Through the aforementioned activities and also through other means and initiatives, we encourage our employees to consider sustainability perspectives in their everyday work.