SOMPO : Establishment of a Group Sustainable Procurement Policy - Aiming to Create a Sustainable Society Together with Our Suppliers -(PDF/79KB)

June 15, 2017

Sompo Holdings, Inc.

- Aiming to Create a Sustainable Society Together with Our Suppliers -

Sompo Holdings, Inc. (Group CEO & President: Kengo Sakurada, hereinafter "Sompo Holdings") hereby announces the establishment of a Group Sustainable Procurement Policy that specifies fair and equal transactions, compliance with laws and regulations, and procurement that takes global issues into consideration.

1. Background

   In recent years, the social pressure on corporations to take measures for sustainable procurement that encompass the supply chain has increased following the Dodd-Frank Act enacted in the US in 2010*1, the Modern Slavery Act effected in the UK in 2015*2, and the ISO 20400 Standard on sustainable procurement issued in April 2017.

   *1 Act that imposes obligations on corporations such as to investigate whether their products contain conflict minerals originated in the Democratic Republic of the Congo.

   *2 Act that imposes obligations on corporations such as to investigate their supply chain for human rights violations such as forced labor or human trafficking.

2. Aim

   Sompo Holdings has established the Group Sustainable Procurement Policy to respond to social demands as a corporation, and further contribute to the realization of a sustainable society in collaboration with suppliers and other stakeholders.

3. Outline

   The Policy specifies the Group's procurements from three perspectives: fair and equal transactions; compliance with laws and regulations; and consideration of global issues. The Policy can be found in the attachment.

   Going forward, Sompo Holdings will encourage our suppliers and other stakeholders to understand the Group Sustainable Procurement Policy through the operation of our CSR Management System (ISO 14001), and work together with them to achieve a sustainable society.

   Attachment

   Group Sustainable Procurement Policy

   Sompo Holdings strives to maximize its beneficial impacts on the environment, society, and economy through procurement processes aligned with the following sustainability principles:

4. Fair and equal transactions

   We will conduct fair and equal transactions with all suppliers by engaging in anti-corruption efforts and by giving full consideration to quality, delivery time, economic feasibility, and social issues such as the environment and human rights.

5. Compliance with laws and regulations

   We will comply with all laws and related regulations in the countries and regions where we operate, and respect relevant social norms and their intent in our procurement practices. We will strictly manage the information obtained through our procurement activities.

6. Consideration of global issues

We will collaborate with suppliers and other stakeholders to integrate sustainability into our value chain to maximize our contribution to climate change adaptation and mitigation, biodiversity conservation, and a circular economy; to tackle human rights issues in the global market, such as poverty and unequal opportunities for workers; and to promote better work-life balance and diversity.