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RETAIL BANKING | Staff Reporter, Japan

Sumitomo Mitsui Financial Group enhances ESG disclosure

The group revised its statement of human rights.

Sumitomo Mitsui Financial Group (SMBC Group) is enhancing its disclosure of environmental, social, and governance (ESG) factors, according to a press release.

The group has announced a revision to its Statement of Human Rights that was published last April 2017 to clarify their view on the key elements of the guiding principles. These include commitment to respect for human rights; due diligence, including human rights; and access to relief measures.

SMBC Group also addressed the new metrics for non-financial information disclosure that was outlined by the World Economic Forum International Business Council in their report last September 2020. The group said they have discussed “effective disclosure of non-financial information.”

Furthermore, the group will be publishing information on their website that corresponds to each of the IBC’s metrics, namely: principles of governance, planet, people, and prosperity.

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