Sumitomo Bakelite Co., Ltd.

DIALOGUEDialogue: Vice President × Officer in Charge of Sustainability

Masayuki Inagaki Representative Director, Executive Vice President
Vice Chairperson of Sustainability Promotion Committee
Hiromi Oki Executive Officers, GM of Corporate Planning Department
General Manager of Sustainability Promotion Department,
Chairperson of SDGs Promotion Committee

Our goal is coexistence with a sustainable society
Maximizing environmental and social value
heading toward 2050

Masayuki Inagaki
Masayuki Inagaki
Representative Director, Executive Vice President
Vice Chairperson of Sustainability Promotion Committee
In charge of Corporate Research & Development Division, Advanced Materials Research Laboratory, Bioscience Research Laboratory, Photoelectric Composite Interposer Business Development Promotion, and Corporate Engineering Center.
Apr. 1982: Join the Company, Jun. 2009: Executive Officer and Plant Manager of Utsunomiya Plant, Apr. 2013: Managing Executive Officer. Jun. 2015: Director, Apr. 2017: Senior Managing Executive Officer, Apr. 2021: Executive Vice President (to the present), Jun. 2022: Representative Director (to the present)
Hiromi Oki
Hiromi Oki
Executive Officers, GM of Corporate Planning Department
General Manager of Sustainability Promotion Department, Chairperson of SDGs Promotion Committee
Apr. 1993: Joined the Company, Polymer Synthesis Research Division No. 1 of Fundamental Research Laboratory, Nov. 1995: Research Division of Electronic Device Material Research Laboratory, Jan. 2000: Research Division of Fundamental Research Laboratory, Jan. 2009: Optical Product Development Team, Oct. 2010: Research Division of Fundamental Research Laboratory, Apr. 2011: Clerk of New Energy and Industrial Technology Development Organization, Apr. 2014: Research & Development Division and Intellectual Property Department, Jul. 2014: Research & Development Division, Oct. 2015: General Manager of R&D Promotion Department of Research & Development Division, Apr. 2023: Executive Officer (to the present), Corporate Planning Department Manager (to the present), General Manager of Sustainability Promotion Department (to the present)

Taking up the baton of sustainability promotion

Inagaki

The management philosophy under which the Group has long engaged in initiatives is the very embodiment of sustainability thinking. Our Sustainability Promotion Committee occupies a top-level position within the Company. It directs and approves the activities of four committees beneath it: the SDG Promotion Committee that plans and executes measures related to the SDGs, the Carbon Neutrality Promotion Committee that studies technologies related to carbon neutrality and calculates the carbon footprint (CFP) of all of our products, the Risk Management Committee, and the Compliance Committee. I’ve supervised sustainability promotion activities since 2017, when our Group began initiatives aimed at the SDGs.

Oki

The Sustainability Promotion Department, which shoulders the role of promoting sustainability, kicked off in April 2023. Its most important role is formulating, recommending, and executing long-term sustainability strategies. Its members accumulate expertise and experience to carry out more effective sustainability activities. The presence of this dedicated organization helps boost awareness within the Company and strengthen internal and external collaboration. The organization also enlightens employees about the importance of sustainability and the value of initiatives through educational programs and communication activities, promoting an awareness shift inside the Company. Instead of tackling issues as a single company, we aim to actively communicate with companies facing similar issues to solve them together.

Inagaki

I recommended you as the General Manager of the Sustainability Promotion Department, and you’ve also taken over my previous position as Chair of the SDG Promotion Committee. In fiscal 2018, the Company launched a preparatory project for promotion of the SDGs, with you as one of the main members. You have a good understanding of sustainability-related initiatives, a serious attitude, and execution capabilities, so I think you were a fitting choice. In 2023, you became the Company’s first female executive. I have high expectations for your continuing leadership.

Masayuki Inagaki

Oki

It’s with seriousness that I take up the baton of sustainability promotion from you. Now in 2024, fewer than six years remain until 2030, the deadline for achieving the SDGs. Our activities to increase our ratio of sales revenue from SDG-contributing products achieved our target ahead of schedule and exceeded 60% in fiscal 2023, but further advances will be needed to reach our fiscal 2030 target of 70% or higher. In terms of sustainability overall, recent years have seen an increase in high-level issues, including human capital and sustainable procurement issues. In addition to these, we intend to squarely address issues such as Green Transformation, Digital Transformation, and the circular economy, and will consider and execute measures toward these from a broad perspective.

Inagaki

To date, we’ve taken a top-down approach to making sustainability concepts known. Now that understanding is sufficient, though, we need to move on to the next stage. I think you have a gentle manner that makes it easy for others to speak their mind. I have a track record as an engineer. Instead of imitating me, I hope that you’ll take in the opinions of people in the field, who feel changes in the world up close, as you move forward.

Masayuki Inagaki Sustainability Promotion System

Looking beyond 2030 to create new value for plastics

Oki

We’ve created a TCFD Task Team under the Risk Management Committee to predict climate change-related opportunities and risks in 2040 and perform scenario analyses for our major businesses. We foresee opportunities in areas including automotive-related products with a focus on electric vehicles, semiconductor-related products, and high-performance films for food packaging with room-temperature storage and freshness retention functions. We view soaring prices of raw materials and of electricity and other energy, along the introduction of carbon pricing, as risks.

Hiromi Oki

Inagaki

The Group is strengthening its research and development on the basis of such opportunities and risks. If nothing is done, temperatures of 40°C will be commonplace in 2040, and typhoons with wind speeds of 70 meters per second may arise. Technological development and capital investment will be essential to avoid such a world. Looking at the disposal of raw materials and products used, we recognize that the establishment of chemical recycling and material recycling technologies and the use of biomass raw materials are indispensable from the standpoint of resource recycling (3Rs + Renewable). We’ve also been contributing to the achievement of the SDGs a condition for all new research topics. As we advance research and development, we’re making committees, task teams, and other cross-organizational structures a foundation on which everyone can undertake sustainability activities with a sense of personal involvement.

Oki

Our Environmental Vision for 2050 (net zero) sets out emissions reduction targets for fiscal 2030 in line with the Japanese government’s reduction targets. We achieved these targets ahead of schedule in fiscal 2023. In response, we are switching to higher reduction targets in line with the 1.5°C standards of the Paris Agreement, and are working to reduce our Scope 1, 2, and 3 GHG emissions. We’re also working to obtain certification under the Science Based Targets initiative (SBTi) for international emission reduction targets. “Amount of contribution to reduction” during the use of products and services downstream in the supply chain is a concept that has emerged in recent years. We need to consider both our own reductions as well as those of our customers and further on down the value chain. We will continue our endeavors to achieve carbon neutrality in 2050. Because the products handled by our Group have wide-ranging applications, we’ll continue to advance carbon neutrality initiatives from the five perspectives of (1) resources, (2) energy creation/energy conservation, (3) long life, (4) the 3Rs, and (5) environmental measures.

Inagaki

Born over a century ago, plastics have come to be all around us owing to their safety, comfort, and convenience. At the same time, when viewed from the keyword “environment,” plastics made from fossil fuels tend to be preceded by a negative image. That is why our Group must pursue functionality in plastics and provide the world with products that contribute to the environment and society. What we seek is a sustainable society with which plastics can coexist.

Hiromi Oki Initiatives for carbon neutrality Technology and product development