Mid-Term Sustainability Targets as part of 2024 Mid-Term Management Plan
Material Issue 7
To create new markets with forests and wood
Material Issue 7
Material Issue 7
To create new markets with forests and wood
Creating new markets that enrich the economy through the resourceful use of forests and wood.
Related SDGs
Basic Policy
Utilization of forests and wood is emphasized in order to enrich the economy while solving various environmental and social issues such as realization of a decarbonization society and a circular economy, conservation of biodiversity, and respect for human rights. In order to deepen and expand utilization of wood and activate functions of forests, creation of new markets that utilize them is also the key.
Sumitomo Forestry Group will expand its medium- and large-scale wooden construction business globally while challenging many issues such as technology, legal regulations, and cost relating to construction such as structure, fire resistance, production, and environment. In addition, in order to develop various new technologies, new products, and new markets that utilize "wood" and "forests," we will promote research and development that emphasizes collaboration with the outside world without being bound by our own technology.
Impact on Society and the Environment
| Material Issue 7 | Impact (Influence) |
|---|---|
| To create new markets with forests and wood Creating new markets that enrich the economy through the resourceful use of forests and wood. |
Realization of a prosperous society by creating new value |
Management of Material Issue 7
In Mid-Term Sustainability Targets 2024, Material Issue 7 is divided into 2 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 |
|---|---|---|---|---|---|---|
| New market development |
Development of medium-to large-scale wooden constructions Business (US / Australia / Europe) |
Overseas Housing and Real Estate Division | - | Examination / Commercialization | Commercialization | Commercialization |
| Specific steps based on issues and strategies | Indicators for Evaluation | Managing department | FY2021 result |
FY2022 target |
FY2023 target |
FY2024 target |
|---|---|---|---|---|---|---|
| Research & Development | Number of contracts for joint research partners (cases) Ratio of all themes (%) |
Tsukuba Research Institute | - | 35 50 |
36 51 |
38 54 |