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