Our materiality process Material Topics and Initiatives

Material Topics and Initiatives

Our material topics are structured such that topics that are directly connected to the creation of both social value and corporate value are grouped under the category of "contributing to a sustainable society," which in turn is underpinned by the categories of "prerequisites for business continuity" and "abilities essential to business continuity."

Contributing to a sustainable society

Product design based on full life-cycle considerations

Contributing to a sustainable society through our Group’s business activities

The intricately intertwined nature of social challenges requires a big-picture approach in tackling them. That is why business activities need to take into account the environment and society throughout the entire product life cycle. Amid advances in digitalization and the growing calls for a circular economy, new business opportunities will arise by taking on these perspectives.

Climate Change

Recognition of the social issue

The aim of the Paris Agreement is to hold the increase in the global average temperature to well below 2°C above pre-industrial levels and to pursue efforts to further limit the temperature increase to 1.5°C. Through this agreement, we are now all required to build a carbon neutrality in society. To build this society, we need to adopt low-carbonization (mitigation) and construct a resilient society (adaptation).

Opportunities and risks for the Mitsui Chemicals Group (Example)

Shift to EVs, renewable energies becoming mainstream Tightening regulations such as restrictions on GHG emissions and carbon taxes
Transition to renewable raw materials Decreasing demand for petrochemical products
Increasing demand for non-petrochemical products and technologies Damage to production sites from storms and flooding
Increased demand for products that support disaster prevention/mitigation, and infection control Supply chain interruptions
Opportunities and risks for the Mitsui Chemicals Group (Example)
Shift to EVs, renewable energies becoming mainstream
Transition to renewable raw materials
Increasing demand for non-petrochemical products and technologies
Increased demand for products that support disaster prevention/mitigation, and infection control
Tightening regulations such as restrictions on GHG emissions and carbon taxes
Decreasing demand for petrochemical products
Damage to production sites from storms and flooding
Supply chain interruptions

Mitsui Chemicals Group’s initiatives

The Mitsui Chemicals Group aims to achieve carbon neutrality by 2050 as a part of our contribution to the Paris Agreement. We continue reducing GHG emissions from our business and lowering carbons emissions throughout the value chain with our products and services.

Circular Economy

Recognition of the social issue

Along with the rise in the world's population and pushing forward of global economic activities, including those in developing and emerging countries, conventional economic activities that assume mass consumption and disposal of resources are now exceeding our planetary boundaries (the limits of the Earth) posing a significant threat to the entire world. Against this backdrop, we need to convert to a circular economy to support the sustainability of the environment and society through decoupling economic growth from resource use.

Opportunities and risks for the Mitsui Chemicals Group (Example)

Increasing opportunities for solutions business from an ecosystem perspective Reduced demand for plastics due to the problem of plastic pollution
Heightened demand for environmentally compliant design Tightening of regulations such as extended producer responsibility
Increased importance of traceability through digital transformation Diminished standing of plastic products derived from fossil resources due to the rise of recycling platformers
Opportunities and risks for the Mitsui Chemicals Group (Example)
Increasing opportunities for solutions business from an ecosystem perspective
Heightened demand for environmentally compliant design
Increased importance of traceability through digital transformation
Reduced demand for plastics due to the problem of plastic pollution
Tightening of regulations such as extended producer responsibility
Diminished standing of plastic products derived from fossil resources due to the rise of recycling platformers

Mitsui Chemicals Group’s initiatives

The Mitsui Chemicals Group develops and acquires environmental infrastructure technologies, as well as promoting recycling and utilization of renewable energy resources, through industrial-governmental-academic collaboration. We will contribute to building a circular economy by creating constituting materials and services, as well as providing solutions utilizing such materials and services.

Health and livelihood

Recognition of the social issue

The increasing world population, the aging society, and issues around social diversity and social inclusion have brought about big changes in people’s lives, raising various new demands on different aspects of our existence. As economic and social globalization advances, the scope of impact from social problems is growing, one example being the paralysis of socioeconomic functions due to the rapid spread of the global pandemic caused by a new infectious disease. We now need some effective countermeasures.

Opportunities and risks for the Mitsui Chemicals Group (Example)

Increased demand for products in mobility, medical equipment, pharmaceutical packaging materials, and ICT fields, in line with societal efforts to ensure that everyone can receive high-quality medical care and nursing care when they need it Increased demand for products that improve hygiene and prevent the occurrence and spread of infectious disease
Increased demand for products and services that help elderly and disabled individuals to participate in society Uncertainty about future lifestyles
Growing need for comfortable and safe lifestyles and support for pre-symptomatic illness in addition to measures concerning illness and health Product liability claims and lack of regulatory compliance by healthcare-related products and services
Opportunities and risks for the Mitsui Chemicals Group (Example)
Increased demand for products in mobility, medical equipment, pharmaceutical packaging materials, and ICT fields, in line with societal efforts to ensure that everyone can receive high-quality medical care and nursing care when they need it
Increased demand for products and services that help elderly and disabled individuals to participate in society
Growing need for comfortable and safe lifestyles and support for pre-symptomatic illness in addition to measures concerning illness and health
Increased demand for products that improve hygiene and prevent the occurrence and spread of infectious disease
Uncertainty about future lifestyles
Product liability claims and lack of regulatory compliance by healthcare-related products and services

Mitsui Chemicals Group’s initiatives

The Mitsui Chemicals Group is contributing to building an inclusive society in which people can enjoy healthy lives and well-being regardless of their age, physical condition—including illness or disability, as well as their geographical location—whether in a city or a remote area. We are working on this through creating medical and hygiene products, including vision care products to support or protect people’s eyesight, and dental care products, as well as universal design products and services.

Highly livable communities

Recognition of the social issue

In response to the increasing number of natural disasters caused by climate change, the need to develop disaster-resilient social infrastructures is rising. Such communities are equipped with measures to prevent or mitigate the disruption to the social infrastructure or supply chain caused by such disasters. Also, the increasing demand for conversion to smart cities and technological innovation—such as digital transformation (DX)—highlights the necessity to optimize the entire infrastructure and administration services.

Opportunities and risks for the Mitsui Chemicals Group (Example)

Increased demand for smart and resilient community development in accordance with population size (municipal ICT / infrastructure improvements) Securing and training advanced ICT personnel
Increased demand for products that support disaster prevention/mitigation Increased cost of information security countermeasures
Opportunities and risks for the Mitsui Chemicals Group (Example)
Increased demand for smart and resilient community development in accordance with population size (municipal ICT / infrastructure improvements)
Increased demand for products that support disaster prevention/mitigation
Securing and training advanced ICT personnel
Increased cost of information security countermeasures

Mitsui Chemicals Group’s initiatives

In order to increase a sustainability in communities, the Mitsui Chemicals Group will expand its lineup of products and services that contribute to disaster prevention and mitigation, as well as those that contribute to prolonging the life of infrastructures and strengthening networks. We continue creating new values through global data utilization and exploitation of digital technologies, utilizing our new Digital Transformation Division, established in fiscal 2021.

Food Security

Recognition of the social issue

As the world’s population grows, food supplies are becoming increasingly scarce, pushing up the number of people facing starvation across the world. Also, food security must be reinforced to prevent the negative influences on food production from drought and flooding induced by climate change, and agricultural damage caused by insects, which has also been aggravated through ecological disruption. At the same time, food loss must be reduced not only to preserve resources but also to reduce CO2 emissions and the ensuing environmental impact.

Opportunities and risks for the Mitsui Chemicals Group (Example)

Stable food production and supply Tightening restrictions on agrochemicals and food packaging materials
Increase in cooperative industry platforms with other types of business toward the goal of safe and secure food distribution Improvement of other food preservation/distribution technologies (cold supply chains, etc.)
Reduced food loss and food waste
Opportunities and risks for the Mitsui Chemicals Group (Example)
Stable food production and supply
Increase in cooperative industry platforms with other types of business toward the goal of safe and secure food distribution
Reduced food loss and food waste
Tightening restrictions on agrochemicals and food packaging materials
Improvement of other food preservation/distribution technologies (cold supply chains, etc.)

Mitsui Chemicals Group’s initiatives

To secure food supply for people across the globe, the Mitsui Chemicals Group aims to improve food productivity through innovations in the agrichemical and agricultural technology fields. We will reduce food loss and waste food from the viewpoint of resource preservation and climate change prevention by improving our food packaging functionality, which helps to maintain the safety and stability of food distribution.

Prerequisites for business continuity

Safety

The Mitsui Chemicals Group's Vision
We pledge safety as our top priority and maintain high levels of safety even in the face of diversifying human resources, facilities, and technologies associated with ongoing global growth and business portfolio transformation, preserving people’s health and the environment.

Respect for Human Rights

The Mitsui Chemicals Group's Vision
We recognize respect for human rights in business activities as a foundation of our development and pursue fair business throughout the supply chain from the viewpoint of “maintaining a high regard for people.”
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Risk and Compliance Management

The Mitsui Chemicals Group's Vision
To fulfill the corporate social responsibility and retain trust among stakeholders, we conduct sound and appropriate business activities while observing the laws and regulations, as well as managing risks that could potentially threaten our business activities.

Product Quality

The Mitsui Chemicals Group's Vision
We respond to the trust placed in us by our customers by increasing customer satisfaction through taking a two-pronged quality management approach based on quality control and quality assurance, in order to bring quality management to a level higher than ever across the supply chain.

Stable Production

The Mitsui Chemicals Group's Vision
We maintain stable production and supplies, and production safety and security through production optimization, technological reinforcement, sustainable procurement, and reforming production operations and maintenance utilizing inherited traditional techniques as well as the latest ever-evolving technologies.

Abilities essential to business continuity

Corporate Culture

The Mitsui Chemicals Group's Vision
We form a resilient corporate group through the "power of chemistry," an integration of the capabilities of individuals who flexibly and promptly grasp changes in society, boldly try out new initiatives and repeat trials and errors toward resolving social challenges, working dynamically to exert their skills to the fullest.

Human Capital

The Mitsui Chemicals Group's Vision
Human resources, an important source of diverse value creation, are the most critical asset for a constantly growing corporate group. We aim to achieve both “sustainable growth of the Mitsui Chemicals Group” and “happiness and self-fulfillment of our employees.”

Innovation

The Mitsui Chemicals Group's Vision
Beyond the business of providing materials, we set out a solution-based business model by uniting our organizational strength, aiming to contribute to solving various social challenges. Through this business model, we continue to offer diverse values through active utilization of open innovation, reform of conventional practices, and new businesses and products.

Digital Transformation

The Mitsui Chemicals Group's Vision
Through corporate transformation (CX) via DX, we are forming a corporate platform that can adapt to accelerating environmental changes.

Partnerships

The Mitsui Chemicals Group's Vision
Collaborating with internal and external partners throughout the value chain, we realize economic activities while caring for the environment and society throughout our products lifecycle. We pursue improvements to the quality of our business management by reinforcing engagement with all stakeholders.
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