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Terumo Group Sustainability Policy
Based on the Group Mission of Contributing to Society through Healthcare, Terumo believes that its social mission (corporate purpose) is to lead the advancement of healthcare and the enhancement of patients’ QOL. To achieve this, Terumo will strive for the utmost quality in all activities, create solutions of value by utilizing new technologies, and spread those solutions globally.
Amid drastic changes in social and global environments, Terumo will also take leadership toward solving a variety of social issues, and to meet the expectations of its broad range of stakeholders.
Through these sustainability efforts, Terumo will contribute to the realization of a sustainable society, create new Terumo strengths and culture, and bring about sustainable corporate growth. With the Core Values and Group Code of Conduct as guides, we will meet the future challenges of healthcare and society together as Terumo Group associates.
Based on the Terumo Group's Sustainability Policy, we have identified seven sustainability priorities we will focus on to realize our Group mission. These priorities are classified into the categories of "Social value creation" and "Foundation supporting social value creation."
Social value creation
We have defined “Resolving healthcare challenges” as the most important sustainability priority for us and will focus on contributing to the advancement of healthcare and the enhancement of patients’ quality of life. By doing so, we will create value for society and strive to realize a sustainable society as well as the Group’s sustainable growth.
Foundation supporting social value creation
As a foundation to support the creation of social value, we have set six sustainability priorities including "Pursuing total quality," "Promoting active participation of associates," "Reducing the environmental impact," and "Lives and human rights of associates and business partners. While responding to various social demands, we will build a solid business foundation through our unique activities.
The Process to Determine Sustainability Priorities
The Terumo Group determines priorities according to the following process.
Identify potential issues
Referring to sustainability guidelines and standards such as those published by GRI*1 and SASB*2, comprehensively identify which sustainability issues concern the Terumo Group.
Evaluate how important these issues are for the Terumo Group, in terms of their importance to stakeholders and relevance to our group Mission and other related policies. Select those that are highly important to both parties.
Taking into consideration the current status of initiatives within the Terumo group, determine the sustainability priorities from among those that had been selected for their high level of importance. The executive management meeting and the board of directors meeting then deliberates over the priorities that were identified to confirm that they are appropriate.
GRI (Global Reporting Initiative)
A non-profit organization based in the Netherlands that advocates sustainability reporting guidelines
SASB (Sustainability Accounting Standards Board)
A non-profit organization in the US that aims to develop and spread sustainability accounting standards
The Corporate Sustainability Department coordinates and promotes sustainability activities throughout the Terumo Group. The Department sets action policies and priorities related to sustainability, finds ways to disseminate these throughout the group, and promotes specific initiatives, by working together with related departments, committees, and the group companies. It also interacts with internal and external stakeholders, sharing information and engaging in discussions, to understand the expectations society has for the Terumo Group and reflect these in the initiatives. The Group Managing Executive Officer in charge of sustainability reports periodically to the Board of Directors about the status of the initiatives regarding sustainability priorities. In addition, the matters pointed out in the Board of Directors meetings are given feedback to the relevant departments for improving the initiatives.
Participation in the United Nations Global Compact
In 2012, Terumo became a signatory of the United Nations Global Compact. This action reflects Terumo’s agreement with the Ten Principles of the compact, which relate to human rights, labor practices, the environment and anticorruption measures. Under the group mission of “Contributing to society through Healthcare”, the Terumo is striving to practice these principles in the course of business operations.
The Ten Principles of 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.|
|Labour||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.|
|Environment||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.|
|Anti-Corruption||Principle 10||Businesses should work against corruption in all its forms, including extortion and bribery.|