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Company Response

25 Oct 2021

Author:
Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group responds to alleged link to EACOP project

Unfortunately, we cannot respond to individual questions from confidentiality perspectives, including whether we are engaged in the transaction.

In SMBC’s Credit Policy, which contains our overall financing policy, guidelines and rules, we declare not to extend any credit considered problematic in terms of public responsibility, or which may have a negative impact on the environment.
In addition, for large-scale projects which may potentially exert a major impact on the environment and society, we will continue to comply with the Equator Principles, a set of guidelines developed by private-sector financial institutions for managing environmental and social risks related to financing large-scale projects. We will also conduct appropriate environmental and social risk assessments by performing due diligence in our Environment Analysis Department

We establish policies for each business and sector which is likely to have a significant impact on the environment and society.

3.(4)Oil and Gas Pipelines
Pipelines are expected to have a wide range of environmental impacts due to oil spills and deforestation, as well as social impacts on indigenous communities, not only at the time of construction but also when completed. SMBC Group carefully monitors whether appropriate mitigation measures have been implemented for these issues, and then we conduct environmental and social risk assessments when we consider lending.

SMBC will endeavor to realize a sustainable society through its environmental and social considerations of the projects it takes part in. https://www.smfg.co.jp/english/sustainability/materiality/environment/risk/?print

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