Sustainability Management

The person in charge is the responsible officer for the Corporate Sustainability Committee.
With ESG concerns as a central feature of the Group’s sustainability management, steps are being taking to discuss the Group’s overall direction at various organizations including the Board of Directors and Corporate Sustainability Committee. In addition, the progress of VISION 2030 non-financial metrics and reviewing material topics are also undertaken within this system.

The roles of the committee are presented as follows.

In principle, the Corporate Sustainability Committee meets four times each year. If circumstances require us to plan new important matters related to promoting sustainability strategies and propose measures accordingly, the committee chair will establish a subcommittee to address such matters. Until FY2021, the committee has been working on addressing climate change and creating plastics strategies by establishing a dedicated subcommittee. However, the scope of activities in the subcommittee has expanded, including carbon neutrality responses, and the need for further deepening and acceleration of the subcommittee's activities has increased. In response, in FY2022, the committee restructured and upgraded the subcommittee into the Circular Economy Center of Excellence (CoE) to further strengthen the initiatives.

Details of the committee’s deliberations and activity results are reported to the Management Committee. In addition, the committee submit particularly important agenda items to the Management Committee and Board of Directors for approval.

Mitsui Chemicals incorporates ESG elements into its basic company-wide budgeting policy.

In FY2020, in our efforts to accelerate the production of Blue Value™ and Rose Value™ products and services, we adopted the sales revenue of Blue Value™ and Rose Value™ products and services as performance indicators in line with the goal under VISION 2030 (40% of sales revenue by product and service). Each business division plans its annual budget based on the challenges and measures for the targets and tracks their progress.

In addition, we have set KPIs and targets that are linked to our material topics as non-financial metrics for VISION 2030. We aim to enhance our corporate value by effectively monitoring the financial and non-financial aspects of our management practice. For KPI, we have designated an officer or a general manager who is responsible for monitoring the progress, and each division manages these KPIs by incorporating them into their annual budgets and targets. In addition, the Corporate Sustainability Committee and the Company-wide Strategy Committee will review progress and related issues from the perspective of how progress toward KPIs each fiscal year will contribute to the achievement of non-financial targets for 2030 (consistency and appropriateness of KPI/target setting) and how efforts to achieve non-financial targets will contribute to the achievement of financial targets (relationship between financial and non-financial targets).

The Mitsui Chemicals Group has continuously implemented theme-based educational programs on topics such as compliance, information security, Responsible Care, and business and human rights, to deepen understanding of ESG-related topics across the Group. Furthermore, starting in fiscal 2024, we developed and launched an e-learning course titled "Sustainability in the Mitsui Chemicals Group - Policy and Basic Approach (Basic Course)" in both Japanese and English editions, to enhance understanding of our Group corporate sustainability initiatives. This training material is designed to clearly explain ESG-related concepts and terminology using diagrams and illustrations, and is mandatory for all Mitsui Chemicals, Inc. registered employees.