Realizing a Carbon Neutral Society | Sustainability

GRI 2-22 / 3-2 / 3-3

Background

Achieving a carbon-neutral society requires efforts from the entire society, and there is a need to mitigate risks related to decarbonization and seize related opportunities.

Strategies

The SMM Group published its revised roadmap for achieving carbon neutrality in 2023. In line with this roadmap, we will take steps to reduce GHG emissions as a strategy to mitigate climate change by promoting energy conservation, expanding the use of electricity from renewable energy sources, and developing technologies for innovative smelting processes. We will also work to create business opportunities and enhance our competitiveness by developing products (low-carbon contribution products) and technologies that help to reduce GHG emissions in all corners of society.

KPI/Target/Result

Vision for 2030

A company that actively works to reduce greenhouse gas (GHG) emissions and develop technologies that contributes to low carbon emissions in order to achieve a carbon neutral society

KPI	Reporting boundary	Target (FY2030)	FY2024 results
GHG emissions	SMM Group	(Scope 1 and 2) 38% reduction compared to FY2015 (Breakdown: 50% Japan, 24% overseas) (Scope 3) Understanding current situation and setting goals: end of FY2025	(Scope 1 and 2) 27% reduction compared to FY2015 (GHG emissions: 2,356kt-CO₂e) (Scope 3) Conducted a survey of major suppliers in Category1
Development of low-carbon smelting technologies	SMM Group	1.Development of hydrogen reduction technology for nickel oxide ore smelting	1.Laboratory-scale experiments to deepen the understanding of reduction behavior were conducted as planned
Development of low-carbon smelting technologies	SMM Group	2.Development of DLE (Direct Lithium Extraction) technology	2. Improvement of adsorbent’s durability
Amount of GHG emissions reduction contributed by low-carbon contributing products¹	SMM Group	1.1 Mt-CO₂²	1.0 Mt-CO₂
Developing and supplying low-carbon contributing products	SMM Group	1.Development of hydrogen production catalyst	1.Development started as planned
Developing and supplying low-carbon contributing products	SMM Group	2.Development of cathode materials for all-solid-state batteries	2.Development is progressing largely as planned

1Products that contribute to the realization of a carbon-neutral society and are aligned with the SMM Group's product strategy (e.g., cathode materials for automotive secondary batteries, near-infrared absorbing materials)
2Contribution to emissions reduction as of 2030 (calculated using the stock-based method). The stock-based method is a method of calculating the contribution to emissions reduction by calculating the CO₂ emissions of all products in operation in the assessment year (stock accumulation) and subtracting the CO₂ emissions of comparable products

Emission Reduction for the Sumitomo Metal Mining Group

Realizing a Decarbonized Society

Climate Change-Related Financial Disclosure Information (Disclosures Pursuant to the TCFD)