Kobe, Japan – Sumitomo Rubber Industries (SRI) has set out a new long-term policy to address the current climate changes and other “major shifts in the most pressing issues that society faces today”.
The policy “driving our future challenge 2050” will address ‘rubber & beyond’ and will aim to create a ‘brighter future for all’, said SRI in a 5 Aug statement.
The phrase “rubber and beyond”, said SRI, has two meanings: it refers to both “cutting-edge of rubber technology” and “expanding the possibilities of rubber to develop new technologies and provide new value.”
“Driving our future”, the group said, refers to “bringing joy to the hearts of all who are touched by our products and services."
The new policy includes three environmental, social and governance challenge themes with action plans to address those challenges through to 2050.
For the environment, for instance, the rubber & tire group aims to achieve carbon neutrality and increase the use of sustainable raw materials and recycling.
As part of this, the Japanese group intends to achieve its "Smart Tyre Concept," which aims to create high-performance tires that provide both safety and sustainability.
Furthermore, the company will create an ‘internal standard’ for sustainable products and reduce waste to reduce its environmental footprint over the next three decades.
On the social front, SRI said it will increase health & safety through ‘thoroughgoing occupational HSE’.
The Japanese supplier will also aim to improve organisational ‘climate and culture’ by promoting healthy management, diversity and inclusion, and women’s empowerment. To transparently achieve these, SRI will actively seek third party assessment.
On governance, SRI said it will reinforce the foundation of the business by increasing diversity of board members, improving effectiveness of governance and being transparent in taxes.
The new policy follows SRI’s ‘overhaul’ of its corporate philosophy in December last year, when it said it said it aimed to ‘pursue greater happiness for all employees of our group’ and ‘live up to the expectations of our customers.