Human Rights Policy
(Established: December 1, 2013)
(Revised: November 1, 2016)
(Revised: February 1, 2023)
The Sumitomo Mitsui Trust Group will take responsibility for the next generation, recognize its mission as building a society with enhanced readiness for changes, and continuously fulfill its commitment to respect for “human rights” toward realization of its purpose (reason for existence)” creating new value with the power of trusts and let prosperous future for our clients and society bloom.”
This policy is respected in all business activities in each company of the Sumitomo Mitsui Trust Group, and by following the policy, we will strive to solve various tasks of each of our stakeholders such as societies, clients, suppliers, and the Group’s directors and employees.
- 1. Commitment to respect for human rights
We will always act with a highly ethical viewpoint and a socially good sense on all aspects of business activities, and fulfill our responsibility for respect for human rights, as a socially trusted company group.
- 2. Respect for internationally recognized human rights
We will not only observe all laws applied to business activities, but also respect internationally recognized human rights such as the UN “International Bill of Human Rights” and the International Labor Organization (ILO) “Declaration of Fundamental Rights and Principles at Work” which stipulates fundamental rights at work. As a globally acting financial institution, we will also support the UN “Ten Principles of the Global Compacts” and observe various standards for the promotion of the protection of human rights, such as the UN “Guiding Principles on Business and Human Rights” and the Japanese government’s “Guidelines on Respect for Human Rights in Responsible Supply Chains.” If the rules in the country where we conduct business activities are different from the internationally recognized standards on human rights, we will support and respect the internationally recognized standards on human rights, etc., and, if they are inconsistent, we will strive to find a way to respect the internationally recognized human rights as much as possible.
- 3. Scope of application
This policy will be applied to directors/employees and all people working for the Sumitomo Mitsui Trust Group. We will strive to win the understanding on the policy of all stakeholders including individual/corporate clients, outsourcing companies, and suppliers of goods and services.
- 4. Human rights due diligence
In order to tackle severer negative effects on human rights as a priority, while recognizing the supreme target of our efforts on respect for human rights, we will specify significant risks on human rights which the Group may induce, encourage or directly participate in, as per the table below, and strive to prevent/mitigate them through human rights due diligence.
On such occasion, we will be counseled by the third parties, if necessary, and through constructive dialogues with our stakeholders, understand actual situations of negative effects and strive to improve them.
- 5. Human rights of directors/employees and all people working for the Sumitomo Mitsui Trust Group
We promise to create equal relations in which each of us respects liberty, equity and safety, respects each other, respects various senses of value and can freely exchange opinions, and to provide a workplace environment filled with job satisfaction, to directors/employees and all people working for the Sumitomo Mitsui Trust Group. The Group will tackle development of capabilities of its employees and make efforts to promote their mental and physical health.
In every business activity, we will never allow discriminations and human rights violation based on race, nationality, age, gender, sexual orientation, gender identity, origin, social status, belief, religion, disability, physical feature, pregnancy, marriage or state of health.
We will clearly reject any bullying and harassment, which hurt human dignity. We will also respect freedom of association and collective bargaining rights.
We will conduct fair and just screening based on only capability and aptitude of applicants, in case of hiring of employees, etc.
- 6. Cooperation with clients and suppliers
We will make efforts to get our clients and suppliers to understand our approach to respect for human rights including the policy. If we identify a negative effect or fear of it through human rights due diligence, etc., we will strive to prevent or mitigate such a negative effect, through keeping close dialogues with our clients, suppliers and their participants and establishing cooperative ties with them.
- 7. Remedies
If it becomes clear that a negative effect on human rights is induced or encouraged by the Group through human rights due diligence, etc., we will make efforts to implement or to encourage implementation of remedies for stakeholders suffering from such a negative effect. In addition, if there is a negative effect on human rights directly related to the Group, our products or services, we will ask for cooperation of our clients and suppliers and make efforts to prevent/mitigate it.
We will establish a transparent grievance mechanism and strive to ensure convenience of users such as clients, suppliers, directors/employees and all people working for the Sumitomo Mitsui Trust Group.
- 8. Fostering our corporate culture which respects human rights
We will make efforts to get each of our directors/employees to have a right knowledge of respect for human rights and deepen understanding, and continuously strive to foster our corporate culture which respects human rights.
- 9. Disclosure
The Sumitomo Mitsui Trust Holdings will regularly report information about its efforts and progress on spread of the human rights policy, through its official homepage, other appropriate measures for communication, etc.
The policy mentioned above was approved at the board of directors of the Sumitomo Mitsui Trust Holdings on January 31, 2023.
The Group will also apply the policy to overseas outlets and collect information about negative effects on human rights caused by corporate activities of companies to whom we extend investments and loans, and suppliers/outsourcing companies (supply chains), and if there is infringement against laws, etc., we will take necessary measures.
- (Table) Specification of significant risks of human rights
Significant risks of human rights, which the Group may induce, encourage, or directly participate in, shall be defined as follows.Prejudice/a sense of discrimination such as the DOWA issueForced labor/child labor/human traffickingParticipation in conflicts/inhuman acts