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Participation and Support for Initiatives
- Basic Policy
- United Nations Global Compact
- World Business Council for Sustainable Development (WBCSD)
- Task Force on Climate-related Financial Disclosures (TCFD)
- Taskforce on Nature-related Financial Disclosures (TNFD)
- Science Based Targets (SBT)
- RE100
- Participation in and Support for Other Initiatives
Basic Policy
The Sumitomo Forestry Group joins and supports organizations engaging in environmental activities, such as activities to deal with climate change and conserve biodiversity, as well as those to meet social challenges, with a view to realizing a sustainable and prosperous society. We prioritize the areas of activities in terms of time to spend and monetary contribution and review our memberships annually.
United Nations Global Compact
In December 2008, Sumitomo Forestry formally signed the United Nations (UN) Global Compact to declare our support for its principles. The ten principles of the UN Global Compact are based on globally established agreements, including the Universal Declaration of Human Rights, and the International Labour Organization's (ILO) Declaration on Fundamental Principles and Rights at Work. The Global Compact sets out principles on support and respect for the protection of human rights, the eradication of forced and child labor, and others.
The Ten Principles of the UN Global Compact
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labor; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
World Business Council for Sustainable Development (WBCSD)
Through the World Business Council for Sustainable Development (WBCSD), CEOs of over about 225 companies committed to sustainable development are working together to contribute to a transition to a sustainable society.
Sumitomo Forestry joined the Forest Solution Group (FSG), an internal initiative of the WBCSD, in January 2019 and joined the WBCSD in January 2020. In addition, Sumitomo Forestry participated in the development of the Forest Sector SDG Roadmap (July 2019) to achieve the Sustainable Development Goals (SDGs) as well as the development of the Forest Sector Net Zero Roadmap (November 2021) for a low carbon economy. In January 2022, Sumitomo Forestry took part as the only Japanese company in the formulation of the Forest Sector Nature-Positive Roadmap.
We are advancing efforts to resolve social issues through business so that we can contribute to the SDGs and build a sustainable society.
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Task Force on Climate-related Financial Disclosures (TCFD)
The Task Force on Climate-related Financial Disclosures (TCFD), formed at the direction of the Financial Stability Board (FSB) in April 2015, provides a framework for companies to voluntarily disclose information on climate-related risks and opportunities.
The Sumitomo Forestry Group recognizes the risks associated with climate change as serious business risks, and announced its support for the TCFD in July 2018. Based on the TCFD recommendations, we conducted scenario analysis in 2018 and 2021.
Sumitomo Forestry also participates in the TCFD Consortium, which discusses effective information disclosure by companies and initiatives to link information disclosed on corporate climate change measures to financial institutions' appropriate investment decisions.
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Taskforce on Nature-related Financial Disclosures (TNFD)
The Taskforce on Nature-related Financial Disclosures (TNFD) is an international initiative mainly launched by four organizations: Global Canopy, the United Nations Development Programme (UNDP), the United Nations Environment Programme Finance Initiative (UNEP FI), and the WWF. The TNFD aims to develop and provide a framework for the disclosure of financial information related to biodiversity and natural capital.
Since February 2022, Sumitomo Forestry has been participating in the TNFD Forum, a stakeholder organization that supports TNFD discussions. We have registered as a TNFD Early Adopter*1 of the disclosure recommendations announced by the TNFD in September 2023.
In addition, as a member of the Forest Solution Group (FSG), which is made up of companies belonging to the forest sector of the WBCSD, Sumitomo Forestry engaged in the preparation of the TNFD’s draft guidance for the forest sector as the only participating company from Japan. The draft was released in December 2023.
*1“TNFD Adopter" refers to a company or organization that has registered its intention to disclose information in accordance with the TNFD recommendations on the website of the TNFD.
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Science Based Targets (SBT)
The Science Based Targets Initiatives (SBTi) was established as a collaborative initiative of four organizations—the UN Global Compact, CDP, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) in 2015, to promote science-based greenhouse gas emission reduction targets to curb global temperature rises above pre-industrial levels.
The Sumitomo Forestry Group obtained SBT certification in 2018 based on the standards of that period. In November 2024, we set a new target to achieve net-zero emissions by 2050. In accordance with the SBT Guidance, we have also updated our short-term goals for 2030 and have obtained certification for the goals.
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RE100
RE100 is an international initiative run jointly by The Climate Group, a global environmental NGO, and CDP.
Sumitomo Forestry joined RE100, which aims to make electricity used in business 100% renewable, in March 2020. Through RE100, we will strive to achieve 100% renewable energy for the electricity used in our business activities as well as for the fuel used in our power generation business by 2040.
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Participation in and Support for Other Initiatives
Major Participating Initiatives and Organizations
| Organization |
|---|
| United Nations Global Compact
* Including Global Compact Network Japan and its subcommittees (ESG Subcommittee, HRDD Subcommittee, WEPs Subcommittee, Anti-Corruption Subcommittee, Supply Chain Subcommittee, Circular Economy Subcommittee) |
| WWF Japan |
| CDP Japan Club |
| TCFD Consortium |
| TNFD Forum |
| Network for Promotion of Decarbonized Management (Ministry of the Environment) |
| COOL CHOICE Campaign (Ministry of the Environment) |
| Japan Climate Initiative (JCI) |
| Keidanren Nature Conservation Council |
| Japan Business Initiative for Biodiversity (JBIB)
* including Sustainable Supply Chains WG, City Biodiversity Utilization WG and Natural Capital Research WG |
| 30 by 30 Alliance (Ministry of the Environment) |
| GX League (Ministry of Economy, Trade and Industry) |
| Life Cycle Assessment Promotion Consortium |
| International Sustainable Forestry Coalition（ISFC） |
| Forest Stewardship Council (FSC) |
| Programme for the Endorsement of Forest Certification（PEFC） |
Major Declarations and Other Documents Signed
| Name of Declaration | Date of endorsement/signature |
|---|---|
| Declaration of Biodiversity by Keidanren | December 2009 and December 2019 |
| Nijumaru Declaration (Nijumaru Project) | May 2016 |
| Japan Climate Action Summit Declaration (JCI) | October 2018 |
| JCI Message Calling for Strengthened Climate Change Action (JCI) | February 2020 |
| JCI Message Calling for a 2030 Target to Realize the Paris Agreement (JCI) | April 2021 |
| Call to Action (Business for Nature) | September 2020 |
| Open Letter from companies to G20 Leaders (We Mean Business Coalition) | September 2021 |
| Race to Zero (Business Ambition for 1.5℃) | September 2021 |
| JCI Message: Now is the time to accelerate renewable energy deployment | June 2022 |
| COP15 Business Statement for Mandatory Assessment and Disclosure (Business for Nature) | October 2022 |
| Decokatsu (National Movement for New and Prosperous Lifestyles toward Decarbonization) Declaration (Ministry of the Environment) | February 2024 |
| COP16 Business Statement for Mandatory Assessment and Disclosure (Renewed policy ambition on nature) | June 2024 |
| Principles for Responsible Timber Construction | November 2025 |
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- Sumitomo Forestry Group's Sustainability Management
- Participation and Support for Initiatives