(Established on January 19, 2015)

(Revised on April 1, 2023)

All of us at the Sumitomo Mitsui Trust Group strive to preferentially purchase environmentally and socially conscious goods and services in accordance with the " Basic Policy on the Social Responsibility of Sumitomo Mitsui Trust Group (Sustainability Policy) " and to cooperate with suppliers who consider the environment and society.

We deal with suppliers such as procurement sources and subcontractors, based on this procurement policy. We practice CSR procurement in order to contribute to the sustainable development of society, as a corporate group trusted by society.

1. Compliance with Laws, Regulations, etc.

We comply with all laws, regulations and social norms applicable in the countries and regions in which we conduct business for procurement. We do not have any relationship with antisocial forces and refuse unjust demands.

2. Fair Transactions

We select suppliers in a fair and transparent manner by comprehensively considering economic rationality, appropriate quality, delivery punctuality, compliance with social norms, consideration for social challenges and consideration for the environment. We neither advantage nor disadvantage specific suppliers without due reason.

3. Respect for Human Rights

We comply with the internationally recognized UN "International Bill of Human Rights" and the ILO "Declaration on Fundamental Principles and Rights at Work" which stipulates fundamental rights at work.

As a globally operating financial group, we endorse the "Ten Principles of the UN Global Compact" and comply with various norms to promote protection of human rights, such as the UN "Guiding Principles on Business and Human Rights" and the "Guidelines on Respect for Human Rights in Responsible Supply Chains" of the Japanese government.

We have established a human rights policy in accordance with these standards and promote sustainable procurement activities throughout the supply chain. For this reason, if we confirm a negative impact or have concerns about it through human rights due diligence, we strive to prevent and mitigate the impact by continuing careful dialogues with suppliers and their stakeholders and building cooperative relationships with them.

4. Health and Safety

We strive to deal with suppliers and procure products and services with consideration for occupational health and safety.

5. Environmental Considerations

We strive to conduct transactions with and procure products and services from suppliers with an environmental policy, who are promoting initiatives to reduce environmental burdens and contributing to reduction and mitigation of environmental issues such as climate change and biodiversity.

6. Information Security

We strive to properly manage information on clients and suppliers obtained through purchasing, and to maintain confidentiality in order to prevent leakage.

7. Collaboration with suppliers

We support the "Declaration of Partnership Building" of the Ministry of Economy, Trade and Industry (METI), which seeks to create a new value with suppliers and to promote coexistence and coprosperity throughout the supply chain.

For procurement, we ask suppliers for assistance and promote cooperative initiatives with them in order to practice consideration for social issues such as respect for human rights, and the environment across supply chains.

8. Coexistence with Local Communities

We respect the cultures and customs of the countries and regions in which we conduct business activities and strive to develop a sustainable society.

9. Expectations of Suppliers

Based on this procurement policy, we promote procurement activities, considering social issues and the environment. We ask suppliers to understand the "Expectations of Suppliers" as described below, and to cooperate toward the development of a sustainable society.

10. How to Utilize This Policy

We explain this policy to our major suppliers to help their understanding. We appropriately review how to utilize this policy, considering social conditions and the social environment.

【Expectations of Suppliers】

Together with suppliers, we comply with laws, regulations and social norms, respect human rights, ensure occupational health and safety, promote environmental conservation, and ensure information security, based on this procurement policy.

In addition, if we confirm a negative impact or have concerns about it through human rights due diligence or if a negative impact or its concern due to us is indicated by suppliers through a grievance mechanism, we strive to prevent and mitigate such a negative impact by continuing careful dialogues with suppliers and their stakeholders and building cooperative relationships together.

Based on the concept described above, we appreciate and expect all supplier’s understanding of the following.

Compliance with Laws, Regulations and Social Norms

We expect our suppliers to comply with the laws, regulations and social norms of the countries and regions where they do business.

Human Rights

Suppliers are expected to respect human rights and realize a safe and clean work environment in their business activities:

  • Respect internationally recognized human rights (in the UN "International Bill of Human Rights", the ILO "Declaration on Fundamental Principles and Rights at Work" which stipulates fundamental rights at work, etc.).
  • Identify negative impacts on human rights and strive to prevent and mitigate them in accordance with the UN “Guiding Principles on Business and Human Rights”, etc.
Environmental Considerations

Suppliers are expected to promote activities to reduce burdens on the environment:

  • Response to climate change
  • Response to circular economy
  • Initiatives related to biodiversity conservation
Sound Business Continuity and Information Disclosure

We expect our suppliers to disclose information on human rights / occupational health and safety, the environment, business activities, financial condition and performance, risk information, etc.

Information Security

Suppliers are requested to strengthen information security including the following, in order to prevent the leakage of confidential information and personal information and to appropriately manage them:

  • Defense against cyber attacks
  • Protection of personal information
  • Prevention of leakage of confidential information
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