Sustainability Management
Support Initiatives
UN Global Compact
Mitsui Chemicals signed the UN Global Compact in January 2008 in support of the objective of solving global issues and achieving sustainable growth as a responsible corporate citizen. Since then, we have participated in subcommittees of the United Nations Global Compact Network Japan in our efforts to collect a variety of information.
The Mitsui Chemicals Group will help resolve many of the challenges confronting the world today through its business activities while taking into consideration the 10 principles espoused under the United Nations Global Compact.
The 10 Principles of the UN Global Compact and Major Initiatives in the Mitsui Chemicals Group
Principle 1 Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2 make sure that they are not complicit in human rights abuses.
Principle 3 Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4 the elimination of all forms of forced and compulsory labour;
Principle 5 the effective abolition of child labour; and
Principle 6 the elimination of discrimination in respect of employment and occupation.
Principle 7 Businesses should support a precautionary approach to environmental challenges;
Principle 8 undertake initiatives to promote greater environmental responsibility; and
Principle 9 encourage the development and diffusion of environmentally friendly technologies.
Principle 10 Businesses should work against corruption in all its forms, including extortion and bribery.
Task Force on Climate-related Financial Disclosures (TCFD)
In January 2019, Mitsui Chemicals declared its support for the Task Force on Climate-related Financial Disclosures (TCFD)*. We endeavor to deepen our insight into opportunities and risks that may impact our businesses and proactively disclose our initiatives.
* The Task Force on Climate-related Financial Disclosures (TCFD) was disbanded in October 2023, and its functions have been taken over by the IFRS Foundation since then.
Joining of the Taskforce on Nature-related Financial Disclosures (TNFD) Forum
In October 2022, Mitsui Chemicals joined the Taskforce on Nature-related Financial Disclosures (hereinafter “TNFD”) Forum. The TNFD Forum is a network of companies and organizations who support the vision and mission of the TNFD, which is an international initiative launched in June 2021 aiming to achieve “nature-positive.” Its goal is to develop a framework from a natural capital and biodiversity perspective to adequately assess and disclose the opportunities and risks that impact businesses. Through participation in the Forum, we aim to deepen our understanding of the TNFD framework and enhance nature-related disclosures.
Alliance to End Plastic Waste (AEPW)
As the founding member, Mitsui Chemicals Inc. joined the Alliance to End Plastic Waste (AEPW), established in January 2019. The Alliance is committed to the goal of investing $1.5 billion over the next five years after its foundation to help reduce plastic waste and create a sustainable society. We aim to propose solutions for plastic waste management and the promotion of recycling through alliances with other AEPW members and related parties.
ZERO by 40: Agriculture Industry Unites to Help Eradicate Malaria by 2040
At the London Commonwealth Heads of Government Meeting, the Mitsui Chemicals Group and the world’s leading Crop Protection companies jointly announce their commitment to support the research, development and supply of innovative products to save lives and help eradicate malaria by 2040. Utilizing our long-cultivated organic synthesis technology, the Group will provide high-performance chemicals that are effective against mosquitoes resistant to existing chemicals, thereby contributing to the resolution of the social challenge of malaria eradication, as outlined in the SDGs.
The World Economic Forum (WEF)
Mitsui Chemicals joined the World Economic Forum (WEF) in September 2020. The World Economic Forum is an international organization (non-profit foundation) that has been established to improve global affairs through public-private cooperation. At its annual meeting in January 2024 (commonly known as the Davos conference), discussions focused on topics such as geopolitical stability, economic growth, the use of AI, and topics related to climate, nature, and energy. To combat climate change, the WEF is leading the CEO Climate Leaders Alliance, which focuses on recommendations to achieve the 1.5-degree threshold target of the Paris Agreement. Through participation in this forum, including the CEO community and other activities, we aim to be “a sustainable corporate group with a global presence” by collaborating with international leaders to address social challenges.
International Council of Chemical Associations (ICCA) and Chemical Industry Associations in Each Country
The Mitsui Chemicals Group is taking leadership in the International Council of Chemical Associations (ICCA) and Chemical Industry Association in each country*.
*Chemical Industry Association in each country and region:
The Japan Chemical Industry Association (JCIA), the Association of International Chemical Manufacturers (AICM, China), the Taiwan Responsible Care Association (TRCA), the Singapore Chemical Industry Council (SCIC), the Federation of Thai Industries (FTI), the American Chemistry Council (ACC), the European Chemical Industry Council (Cefic), the Indian Chemical Council (ICC), and Responsible Care Indonesia (RCI).
International Council of Chemical Associations (ICCA)
ICCA is the global industry body representing the world’s chemical industries. In 2021, it expressed its support for the Paris Agreement and the achievement of a climate neutral world by mid-century. ICCA focuses on four leadership groups (LGs): “Energy & Climate Change,” “Chemicals Policy & Health,” “Responsible Care,” and “Plastics.” It contributes to the global strategy formation, research and studies, dissemination of activity results, and capacity building on key issues in the chemical industry.
At ICCA, our President has served on the board of directors for six years, starting in 2014, and again in 2022. Our employees participate in each LG and proactively engage in contributions. Notably, in the Energy & Climate Change LG, our councilor served as the LG chair from 2018 for two years. During their tenure, based on the cooperation of the member companies, the Group has compiled and published the following two reports: “Enabling the Future,” which shows how the chemical industry can contribute to climate change mitigation, and “Moving Beyond Climate Change Mitigation,” which shows how the chemical industry can contribute to climate change adaptation. These reports have been used in advocacy at international conferences such as COP. Currently, our employees continue to work as members to publish an updated version that reflects the latest information.
Japan Chemical Industry Association (JCIA)
Our President serves as Vice Chairman of the Japan Chemical Industry Association (JCIA). The General Manager of our Finance & Accounting Division also chairs the Economy and Tax System Committee, and our officers and employees participate in various other committees to engage in active discussions.
In March 2023, JCIA significantly revised its CO2 emission reduction targets for FY2030 in its “Carbon Neutral Action Plan” to achieve carbon neutrality by 2050. We are also committed to contributing to these initiatives.
Participation in the METI's “GX League Basic Concept”
In February 2022, Mitsui Chemicals expressed its support for the GX League Basic Concept, which was announced by the Ministry of Economy, Trade and Industry (METI), and joined the GX League in FY2023. The GX League is designed to bring together companies actively engaged in Green Transformation (GX) to discuss the transformation of the entire economic and social system toward carbon neutrality. Furthermore, it also aims to practice initiatives to create new markets together with players in the government, universities, and financial institutions that are tackling challenges to achieve GX. As a company that has declared its commitment to carbon neutrality, Mitsui Chemicals endorses this basic concept and participates in activities such as creating business opportunities based on the future socioeconomic system that will emerge due to carbon neutrality, creating green markets through the formation of rules and conducting voluntary emissions trading (GX-ETS). The aim is to transform the entire economic and social system and develop new markets. Participation in the GX League was decided after discussions in the Corporate Sustainability Committee, chaired by our President, and with the approval of the responsible officers. The activities of the GX League are reported as and when appropriate to the Corporate Sustainability Committee.
Other Major Initiatives Supported by the Company; Major Organizations of which the Company is a Member
As a comprehensive economic organization, Keidanren actively engages in policy discussions with the government, takes vigorous action and offers opinions on critical issues such as digital transformation (DX) and environmental energy policy, aiming to establish sustainable capitalism. Our Chairman also chairs the Committee on Employment Policy, and our officers and employees participate in various other committees to engage in active discussions.
On the issue of climate change, Keidanren has developed the Keidanren Carbon Neutral Action Plan to advance efforts towards achieving carbon neutrality by 2050. Additionally, Keidanren has launched the Keidanren Initiative for Biodiversity Conservation, which we also endorse.
The JPCA conducts research, produces statistics, and promotes awareness and publicity about the petrochemical industry. It also engages in discussions through various working groups. The association has also compiled Initiatives of the petrochemical industry to establish a sustainable society, promoting industry-wide collaboration to realize carbon neutrality and establish a recycling-oriented society. Our President also serves as Managing Director, and our officers and employees participate in various other committees to engage in active discussions.