OMRON Awarded with Top 5% S&P Global ESG Score in the S&P Global Sustainability Yearbook 2023
Information
The top distinction in the Electronic Equipment, Instruments & Components industry (previously known as the Silver Award).
OMRON Corporation (Sitz: Shimogyo-ku, Kyoto; President and CEO: Yoshihito Yamada) is pleased to announce that it has been awarded the Top 5% S&P Global ESG Score on February 7th 2023, as ranked by S&P Global in the Sustainability Yearbook 2023. This report, one of the world's most comprehensive publications providing in-depth analysis on corporate responsibility, showcases the sustainability performance of the world’s largest companies. OMRON is receiving this international recognition for its environmental, social and governance efforts within the Electronic Equipment, Instruments & Components industry, for the second time in a row.
The S&P Global ESG Scores are conducted by S&P Global, one of the world’s leading providers of research and ratings in the field of socially responsible investing (SRI). Over 7,800 globally leading companies in sustainability from 61 different industries evaluated in the 2022 Corporate Sustainability Assessment (CSA) were considered for the Sustainability Yearbook. Only 708 top performing companies made it into the Yearbook 2023, including OMRON, along with 83 other Japanese companies. Within each industry, companies achieving an ESG Score within a range of 1% to 5% of the industry’s top-performing company are awarded the Top 5% S&P Global ESG Score.
Yue Liu, Senior General Manager of the Sustainability Office at OMRON Corporation, commented: “I am proud to see our commitment to sustainability, which was and continues to be at the core of the company since its establishment in 1933, recognized by S&P Global which uses one of the most advanced ESG scoring methodologies. We believe that this honorable distinction is a result of our continuous efforts to fully integrate the material sustainability issues identified in our long-term vision, Shaping the Future 2030 (SF2030), into all of our business operations. Our main mission is innovating for a sustainable future, we do this by putting people and the planet at the forefront of all our decisions and actions. The transparent communication of our progress helped set us apart and we will continue to promote disclosure by bolstering engagement with our employees, customers, and business partners.”
This year, OMRON demonstrated strength in corporate sustainability with a high ESG score of 83, showing continuous progress (75 in 2019, 80 in 2020, and 82 in 2021)*1. In the environmental field, OMRON continued to seize business opportunities linked to climate change, as outlined in its long-term vision SF2030 and in alignment with the guidance from the Task Force on Climate-related Financial Disclosures (TCFD). In May 2022, the greenhouse gas emission reduction targets set in SF2030 were certified by the Science Based Targets Initiative, reinforcing OMRON’s commitment to bring about a decarbonized society through energy conservation and cleaner power consumption.
In the economic and social fields, OMRON put innovation driven by social needs into high gear, achieving a perfect 100 score in Innovation Management with its open innovation approach. A notable example of the latter is the work done together with AISing to use cutting-edge AI technology to control manufacturing equipment, improving customer production lines.
OMRON’s Sustainability Initiatives
Under SF2030, OMRON innovates for a sustainable future by putting people and the planet at the forefront of everything it does. To this end, OMRON strives for a healthy, carbon-neutral, and inclusive digitalized society through automation that empowers people, practices respect for all to conduct ethical business in the value chain, and mitigates climate change by striving for carbon-neutral manufacturing and sustainable product design.
OMRON firmly believes in greening its business and has been lauded by several ESG assessment institutions around the world, leading to the inclusion of its stock in ESG indexes globally - including the globally recognized Dow Jones Sustainability World Index (DJSI; a SRI stock price index) for the 6th straight year. OMRON was rated highly across the board for social, governance, and economic dimensions criteria. In particular, the company was at the top of the DJSI list among sector peer companies in the governance and economic dimension.
*1 These scores are calculated based on different criteria, namely Corporate Governance, Supply Chain Management, Innovation Management, Product Stewardship, Operational Eco-Efficiency, Climate Strategy, Business Ethics, and Occupational Health & Safety. S&P Global has chosen the most relevant criteria in each sustainability dimension based on their weight in the assessment and their current or expected significance for the industry.
Details of OMRON's sustainability initiatives can be found on its Integrated Report and Sustainability website pages.
About OMRON Corporation
OMRON Corporation is a leading automation company with its core competencies in Sensing & Control + Think technology, and is engaged in a wide range of businesses including industrial automation, healthcare, social systems, and electronic components. Established in 1933, OMRON has about 30,000 employees worldwide, working to provide products and services in around 120 countries and regions. For more information, please visithttps://www.omron.com/global/en/
<Long-term vision, Shaping the Future 2030>
https://www.omron.com/global/en/sf2030/
<Integrated Report 2022>
https://www.omron.com/global/en/integrated_report/
<Sustainability Initiatives>
At OMRON we innovate for a sustainable future
About S&P Global
https://www.spglobal.com/en/
About the S&P Global Sustainability Yearbook 2023
https://www.spglobal.com/esg/csa/yearbook/
