Skip to content

Font Size

  • Middle
  • Large

Efforts to Address the UN Global Compact

In March 2009, the Sumitomo Corporation Group signed the UN Global Compact and declared its support for the 10 principles, as this international CSR-related initiative shares the same values as our Corporate Mission Statement. With our participation in the Global Compact, we committed ourselves to further increasing corporate value by constantly seeking out areas of our business activities that can be improved in light of the values advocated by the 10 principles.
Moreover, Sumitomo Corporation actively participates as a Board Member of the Global Compact Network Japan, a local Global Compact network. In fiscal 2017, we took part in study groups focused on the themes of environmental management, reporting, human rights due diligence, SDGs, and SRI/ESG. Through this involvement, we aquire information on recent global trends in these areas, learn of examples of superior initiatives, and are provided insight from specialists. This knowledge is utilized to help the Company promote CSR.

What is the Global Compact?

The Global Compact (GC) was proposed by the former UN Secretary General Kofi Annan at the World Economic Forum (in Davos) in 1999 and officially launched in 2000 at the UN Headquarters in New York. The GC is an initiative aimed at realizing the sustainable growth of the global economy through the voluntary participation of businesses in a worldwide network. The UN invites companies and organizations from around the world to join in the GC and currently has over 13,000 companies and organizations from approximately 160 countries participating. The GC has compiled 10 universal principles recognized by the international community based on international agreements in the areas of human rights, labour standards, environment and anti-corruption. Participating companies adopt the 10 principles into their business operations and strategies and are expected to assume responsible and creative leadership as a good corporate citizen for the purpose of achieving sustainable growth.

The Global Compact's 10 Principles

Human Rights
1.Businesses should support and respect the protection of internationally proclaimed human rights; and
2.make sure that they are not complicit in human rights abuses.
Labour Standards
3.Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
4.the elimination of all forms of forced and compulsory labour;
5.the effective abolition of child labour; and
6.the elimination of discrimination in respect of employment and occupation.
7.Businesses should support a precautionary approach to environmental challenges;
8.undertake initiatives to promote greater environmental responsibility; and
9.encourage the development and diffusion of environmentally friendly technologies.
10.Businesses should work against corruption in all its forms, including extortion and bribery.

We also support the Universal Declaraion of Human Rights, which the 10 principles of the UN Global Compact are derived from.

Top of page