Participation in External Initiatives
The Group has signed on to various international guidelines and principles involving corporate conduct and make efforts to implement them.
The United Nations Global Compact
The UN Global Compact, proposed by former UN Secretary-General Kofi Annan, is a code of conduct regarding human rights, labor, the environment, and anti-corruption. Signatory companies are called on to take measures to implement the compact. In July 2005, the Group signed the compact, becoming the first Japanese bank to do so, and declared its resolve to act as a good corporate citizen by complying with and promoting the code of conduct. The Group also became a member of the Global Compact Japan Network (GC-JN), in which signatory companies of the UN Global Compact participate.
The United Nations Global Compact
- Human Rights
- 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 1:
- 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 3:
- 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 7:
- Principle10:Businesses should work against corruption in all its forms, including extortion and bribery.
United Environment Programme Finance Initiative (UNEP FI)
The UNEP FI is an international network that encourages financial institutions to take action to preserve the environment and to make development sustainable. The Group has proactively supported UNEP FI ever since it became the first Japanese trust bank to sign on to it in October 2003.
Principles for Responsible Investment
The Group companies became a signatory of the Principles for Responsible Investment, which were jointly established by the U.N. Global Compact and the UNEP FI. These principles require institutional investors and fund management institutions to give consideration to ESG (Environmental, Social, and Governance) factors when making investment decisions.
Leadership Declaration under the Business and Biodiversity Initiative "Biodiversity in Good Company"
At the ninth meeting of the Conference of the Parties to the Convention on Biological Diversity held in May 2008 in Bonn, Germany, the Group, together with 33 other companies from around the world, signed a leadership declaration under the Business and Biodiversity Initiative "Biodiversity in Good Company," which was led by the German government. Since that time, we have been playing a role as a leading company in this field and making proactive efforts to address this issue.
Carbon Disclosure Project (CDP)
Under the CDP, institutional investors and financial institutions around the world cooperate in urging companies to disclose information regarding their greenhouse gas emissions. The Group joined the CDP in January 2007.
Participation in the UNEP FI Property Working Group (UNEP FI PWG)
The UNEP FI PWG is one of the working groups formed by signatory institutions of the UNEP FI to promote property finance that facilitates sustainable development, namely Responsible Property Investment (RPI). In addition to joining the working group in June2007, the Group became a member of the media team that promotes RPI and conducts activities as one of its leading members.
Membership in Business for Social Responsibility (BSR)
BSR, based in the United States, is an organization that promotes CSR, and it is engaged in the development of sustainable business strategies through collaboration with more than 250 member companies all over the world. In January 2010, the Group became a member of BSR and is receiving various forms of support in promoting CSR that is specific to its business, such as the provision of research information on China Stock SRI funds and the dispatch of lecturers to training programs for managers.
Principles for Financial Action towards a Sustainable Society
Sumitomo Mitsui Trust Group is a signatory to the "Principles for Financial Action towards a Sustainable Society," drafted in October 2011. These principles set out guidelines on the responsibilities and roles of financial institutions, including banks, insurance, securities, and fund management companies, needed for the creation of a sustainable society. The Group played a central role in establishing the principles and signed it in December 2011.
A Signatory to the Equator Principles
The Equator Principles are international guidelines for private-sector financial institutions concerning project finance implementation that call on them to take fully into consideration the environmental and social impacts of projects. Sumitomo Mitsui Trust Bank, Limited (SuMi TRUST Bank) became a signatory to the Equator Principles in February 2016.