Mid-Term Sustainability Targets of Our 2021 Mid-Term Management Plan and Material Issues

Formulation of Mid-Term Sustainability Targets

In 2015, Sumitomo Forestry Group identified five CSR Material Issues and established a Mid-Term CSR Management Plan that specified strategies and targets for each issue. With fiscal 2020 set as the target year, each company and division within the Group has been engaged toward achieving those goals.

At the same time, as interest in ESG has heightened in the society and changes in our business environment, we have determined that there is a need to work on promoting sustainable management to an even greater extent. As such, we have formulated the “Mid-Term Sustainability Targets” that incorporates our sustainability strategy and CSR Material Issues within the “Sumitomo Forestry Group 2021 Medium-Term Management Plan”, which includes “Promote further of business operations and ESG initiatives” as one of the basic policies of.

"Mid-Term Sustainability Targets" announced in May 2019 is a revision of our previous Mid-Term CSR Plan based on our contribution to achieving the SDGs and the five CSR Material Issues. Deliberations have been held in each business division and at management level, resulting in the expansion of our list of qualitative targets from 12 to 15 items.

Incorporating specific non-financial targets into our 2021 Mid-Term Management Plan has enabled us to further strengthen the link between our business and sustainability strategies. Not only does this enable us to meet the expectations of society such as SDGs, we believe it will also lead to an increase in corporate value which cannot be determined from a financial perspective alone.

Mid-Term Sustainability Targets

Identifying Sumitomo Forestry Group CSR Material Issues

Following the changes in the economic, environmental and social situation, in March 2015, the Sumitomo Forestry Group identified new CSR material issues to replace the ones specified in 2008.

The Group surveyed both internal and external stakeholders as well as outside experts, receiving responses from about 2,700 people. In preparing the questionnaire, 27 issues most closely related to the Sumitomo Forestry Group were specified, based on the Sumitomo Forestry Group’s Corporate Philosophy and Our Values, and taking into account such matters as ISO 26000, the international standard on the social responsibility of organizations, and evaluation points linked to socially responsible investment (SRI).

After incorporating management perspectives, the survey results were mapped out against axes of “management” and “stakeholders,” before determining the materiality of each issue. 12 of these issues were identified as being highly material, and rearranged into 5 issues for the Sumitomo Forestry Group CSR Material Issues.

In conjunction with the formulation of Mid-Term Sustainability Targets in 2018, we also revised our CSR Material Issues in light of new demands from the society.

Material map

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Management of Mid-Term Sustainability Targets

In Mid-Term Sustainability Targets, we establish 15 qualitative targets based on contributions to achieving SDGs and on our five material issues. In addition, we specified evaluative indexes (quantitative goals) for each qualitative target item, which serve as our targets for fiscal 2021.

Each group company and department has set “Sustainability Budget” with numerical targets set for the fiscal year and commenced initiatives toward achieving these goals.

The Sumitomo Forestry Group fully implements a PDCA cycle for the progress and achievements of each target at the Sustainability Committee convened two times a year in addition to providing reports to the Board of Directors.

Dissemination of SDGs

Sumitomo Forestry Group, we believe that it is crucial to disseminate and foster an understanding of SDGs by each and every employee as we contribute to the SDGs through our business activities.

Cosponsoring the Nikkei SDGs Forum

Sumitomo Forestry Group is cosponsoring the Nikkei SDGs Forum, a project run by the Nikkei Group to support companies in their efforts to achieve the Sustainable Development Goals (SDGs) set by the United Nations, from fiscal 2018.

SDGs mark

Implementation of SDGs Dissemination Workshops

The Sumitomo Forestry Group holds “SDGs Workshop” sessions by external lecturers for employees to provide learning opportunities that link SDGs to business operations. At the workshops, participants play a card game in which participants envision the achievement of their life goals at the year 2030, such as “wealth acquisition,” “comfortable leisure lifestyle,” and “environmental conservation” in light of economic, social and environmental “barometers” that reflect global circumstances. Participants were divided into groups, which then used Lego blocks as a tool to discuss what they can do based on the results as members of the Sumitomo Forestry Group to help realize a world in which “No one will be left behind.”

Workshop and training sessions were held four times in fiscal 2018 with 127 participants, mainly among employees working on new business development.

At the Sumitomo Forestry Group, the workshops and other efforts are aimed at further dissemination of SDGs understanding and action toward achieving the goals, both internally and externally.

Workshop at Tsukuba Research Institute

Workshop at Tsukuba Research Institute

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