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Development of Sumitomo corporation sustainable finance framework

23 Feb 2024

Sumitomo Corporation has developed the Sumitomo Corporation Sustainable Finance Framework to promote awareness of Sumitomo Corporation Group’s initiative of sustainability management among a wide range of Stakeholders.

The Framework constitutes a revision of the Green Finance Framework developed in February 2022 by expanding the Green eligible project category and by adding the Social eligible project category.The Framework provides guidelines on the four components of Sustainable Finance (Use of proceeds, Process for project evaluation and selection, Management of proceeds, and Reporting) as set out in for the issuance of sustainable bonds and the procurement of sustainable loans, which are limited to the use of funds for environmentally and socially friendly projects. The Framework is in line with Green Bond Principles 2021, Social Bond Principles 2023 and Sustainability Bond Guidelines 2021 by the International Capital Market Association (ICMA) and Green Loan Principles 2023 and Social Loan Principles 2023 by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications & Trading Association (LSTA). For the assessment of the alignment of the Framework with the above guidelines, Sumitomo Corporation obtained a second party opinion (note 2) from Rating and Investment Information, Inc., a third-party evaluation organization.

As set forth in the Corporate Message of “Enriching lives and the world”, the aim of Sumitomo Corporation is to further enrich the world, society, and people’s lives. In line with our credo that “Benefit for self and others, private and public interests are one and the same”, passed down through the generations since the company was founded, we strategically allocate management resources in anticipation of the long-term shifting business landscape impacted by these social issues, and we leverage our strengths to continue creating the value that society truly needs. We promote sustainability management in the belief that each of these actions will create a sustainable society and achieve sustainable growth for Sumitomo Corporation.

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