Mid-Term Sustainability Targets as part of 2024 Mid-Term Management Plan

Material Issue 1 
To enhance the value of forests and wood through sustainable forest management

Material Issue 1

Material Issue 1 
To enhance the value of forests and wood through sustainable forest management

Nurturing forests to enhance and harness the value of wood and other forest resources.

Related SDGs

Basic Policy

As global environmental problems such as climate change, resource depletion, and biodiversity loss become more serious, expectations for wood and forests that produce natural resources and biological resources to solve these problems are rising. Forests not only have functions of absorbing and fixing CO2, conserving biodiversity, and producing wood building materials, fuel materials, or the like, but also have various public benefits such as water source recharge, soil conservation, and sediment disaster prevention.

Sumitomo Forestry Group has developed various businesses centered on wood, such as forestry business, timber and building material distribution and manufacturing business, housing and building business, and renewable energy business. "The Sumitomo Forestry Group utilizes wood as a healthy and environmentally friendly natural resource to provide a diverse range of lifestyle-related services that contribute to the realization of a sustainable and prosperous society. All our efforts are based on Sumitomo’s Business Spirit, which places prime importance on fairness and integrity for the good of society." In order to realize our Corporate Philosophy, we intend to enhance value of forest resources by promoting further integration of business and ESG and by conducting sustainable forest management and use of wood.

Impact on Society and the Environment

Material Issue 1 Impact (Influence)
To enhance the value of forests and wood through sustainable forest management

Nurturing forests to enhance and harness the value of wood and other forest resources.
Contribution to measures against global warming through CO2 fixation
Contributing to the protection of rare species and other conservation of biodiversity
Contribution to revitalization of the forestry business by promoting forest sustainability
Securing seedlings for reforestation and promoting circular use of forest resources from harvesting to replanting
Contribution to greater biomass power generation (renewable energy supply) capacity in Japan
Contribution to revitalization of the forestry business by utilizing domestic timber
Enhancing standardization, awareness, and added value of sustainable and certified wood and wood products

Management of Material Issue 1

In Mid-Term Sustainability Targets 2024, Material Issue 1 is divided into 9 evaluation indicators, and management is carried out by incorporating them into annual activity policies and measures of the management department. We also assess the impacts that the material issue has on society and the environment.

Management of Each Target

Specific steps based on issues and strategies Indicators for Evaluation Managing department FY2021
result
FY2022
target
FY2023
target
FY2024
target
Utilization of Sustainable Forest Resources Domestic and overseas certified forest area (ha) Environment and Resources Division 221,971 242,493 242,493 242,493
Area of forest plantation with in-house produced seedlings
Domestic forest (ha)
487 892 892 1,012
Seedlings supplied
Domestic forest (unit: 10 Thousand)
146 223 223 253
Total use of fuel chips,
pellets, etc.(t)*1
Environment and Resources Division
Timber and Building Materials Division
1,863,870 1,832,890 2,073,948 2,482,964
Percentage of sustainable timber used as primary building material (%) Housing and Construction Division 100 100 100 100
Maintaining of SGEC certified area (%)*2 Environment and Resources Division - 100 100 100

*1 Targets Japan Bio Energy, Okhotsk Bio Energy, Michinoku Bio Energy, Forest Service, and Sumitomo Forestry Timber and Building Materials Business.

*2 Except for land leased to Kawanokita Development and surrounding forests

Specific steps based on issues and strategies Indicators for Evaluation Managing department FY2021
result
FY2022
target
FY2023
target
FY2024
target
Biodiversity Conservation Sales of native species logs (unit: trees) Housing and Construction Division 465,000 470,000 480,000 500,000
Securing ratio of conservation forests in company-owned forests (%) Environment and Resources Division - 30 or more 30 or more 30 or more
Establishment of evaluation method for biodiversity conservation - Information collection Examination of evaluation criteria Establishment of evaluation method