Sumitomo Forestry released the English version of its Sustainability Report 2022 on its website. The report consolidates the Sumitomo Forestry Group’s activities that according to the company contribute to the realization of a sustainable and prosperous society. Source: Timberbiz
This report covers sustainability activities and targets a wide range of readers, including experts in the ESG investment field. It is designed to allow easy understanding of the specific initiatives to achieve Sustainability Targets of the Sumitomo Forestry Group 2021 Medium-Term Management Plan and the link between business activities and sustainability strategies.
The report for this year has been redesigned and adopted a structure that focuses more on ESG (environmental, social and governance) perspective. The content of the report was developed with reference to the GRI Standards (2016) and SASB Standards, which are frameworks for ESG information disclosure, as well as disclosing information related to climate change in line with the TCFD recommendations, which are obligatory for companies listed on the Tokyo Stock Exchange Prime Market.
In February 2022, Sumitomo Forestry Group announced its long-term vision, Mission TREEING 2030, and the new medium-term management plan, Mission TREEING 2030 Phase 1 as the three years to lay the foundation to achieve the vision.
The medium-term management plan places “further integrating our businesses operations with ESG initiatives” as one of its basic policies and sets the Sustainability Targets of the Sumitomo Forestry Group 2024 Medium-Term Management Plan.
In its long-term vision, Sumitomo Forestry Group aims to make the planet safer and more secure for future generations of people and all living beings by providing value to our planet, to people and society, and to the market economy. By linking its material issues to these three values, Sumitomo Forestry Group is committed to promoting businesses that simultaneously enhance all three values without sacrificing each of the other values.
