Mar. 31, 2022
Establishment of Sumitomo Corporation Group Forest Management Policy and Sumitomo Corporation Group Sourcing Policy for Forest Products
Sumitomo Corporation has established the Sumitomo Corporation Group Forest Management Policy and the Sumitomo Corporation Group Sourcing Policy for Forest Products.
Forests not only provide food and wood products, but also play an essential role in preserving biodiversity as well as mitigating climate change through absorption and fixation of CO2. Our Group operates businesses which utilize such valuable resources, and it is important to conduct sustainable forest management and forest product sourcing that does not lead to deforestation and human rights violations.
To realize a sustainable society by working together with our suppliers and business partners, Sumitomo Corporation has established the CSR Action Guidelines for Supply Chain Management. To accelerate the initiative, in May 2021, we set “reinforcing the sustainable procurement system for major natural resources used by the Group” as one of our medium-term goals for enhancing sustainability management. Establishing the policies is part of the initiative to achieve this medium-term goal.
Furthermore, in order to reinforce due diligence to mitigate risks, we have also set Operational Guidelines for putting the policies into actions.
For more details, please refer to the links below:
Sumitomo Corporation is committed to implementing its policies. Together with our stakeholders, we will conduct sustainable business by preserving biodiversity in the regions where we operate and supporting local communities through initiatives including employment creation. In addition, we will contribute to mitigation of climate change by maintaining and improving environmental functions of forests.