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.
The 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 (FY2022)
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.
New market development
In the medium- to large-scale wooden construction business, we participated in a 15-story wooden office development project in Melbourne, Australia in 2021, followed by the development of a 6-story wooden office in the UK, a 3-story wooden office in Atlanta, USA, and a 7-story wooden office in the suburbs of Dallas, USA in 2022. We plan to continue to actively develop this business.
Results
Ratings in the table below
Achieved: ◯ Not achieved but improved from previous year: △ Not achieved and declined compared to previous year: ✕
| Indicators for Evaluation | Managing department | FY2022 target |
FY2022 result |
FY2022 value |
FY2023 target |
FY2024 target |
|---|---|---|---|---|---|---|
| Development of medium-to large-scale wooden constructions Business (US / Australia / Europe) | Global Housing, Construction and Real Estate Division | Examination/ Commercialization |
Commercialization | ○ | Commercialization | Commercialization |
Research & Development
Regarding the number of contracts for joint research partners, the objective is to promote R&D based on knowledge that is not available in-house by establishing cooperative frameworks with public institutions and private research organizations.
The number of contracts was 42 in fiscal 2022 at the Tsukuba Research Institute exceeded the plan (52.5% of all contracts).
Results
Ratings in the table below
Achieved: ◯ Not achieved but improved from previous year: △ Not achieved and declined compared to previous year: ✕
| Indicators for Evaluation | Managing department | FY2022 target |
FY2022 result |
FY2022 value |
FY2023 target |
FY2024 target |
|---|---|---|---|---|---|---|
| Number of contracts for joint research partners (cases) Ratio of all themes (%) |
Tsukuba Research Institute | 3550 | 4252.5 | ○ | 3651 | 3854 |