Sumitomo Heavy Industries : Support for Recommendations of Task Force on Climate-related Financial Disclosures (TCFD)
October 07, 2021 at 07:27 am EDT
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Sumitomo Heavy Industries, Ltd. (hereinafter, 'the Company'; President: Shinji Shimomura) announced its support for the recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD)*1.
In Medium-Term Management Plan 2023, announced in May of 2021, the Company set forth the principle of 'Enhancing corporate value in a sustainable manner by solving social issues through products and services' as a long-term key strategy. As a part of this, with the aim of realizing a sustainable society, the Company will actively promote initiatives aiming to reduce the environmental burden, such as the reduction of greenhouse gas emissions, the development of environmentally friendly products, and the effective use of resources.
The Company will continue to enrich these initiatives with the aim of solving various social issues such as climate change, while also working to further enhance its information dissemination and disclosure in line with the TCFD framework in order to achieve more easily understandable communication to stakeholders.
Sumitomo Heavy Industries, Ltd. specializes in the design, manufacturing and marketing of industrial and construction equipment. Net sales break down by family of products as follows:
- construction equipment (29.3%): hydraulic excavators, cranes, road machinery, etc.;
- precision machinery (20.8%): molding machines by injection, electric injection molding machines, medical use cyclotrons, etc.;
- equipment for environment protection (19.8%): energy generators, industrial wastewater processing systems, air pollution control units, etc.;
- machinery components (14.4%): power transmission and control systems (gears, power inverters, geared motors, gearboxes, etc.), motors, mechanical coupling systems, etc.;
- industrial equipment (11%): handling systems, logistic equipment, gas turbines, pumps, etc.;
- ships (4%);
- other (0.7%).