Sumitomo Forestry

Sumitomo Forestry, a company in the Products of forestry, logging and related services industry, headquartered in Japan, reported approximately 10.27 billion kg CO2e in Scope 3 emissions for the 2023 reporting year, with Scope 1 emissions at about 221.52 million kg CO2e and Scope 2 emissions at approximately 114.16 million kg CO2e. The total reported emissions for 2023 were approximately 10.61 billion kg CO2e.

The company has set ambitious climate commitments. Sumitomo Forestry is committed to achieving net-zero greenhouse gas emissions by 2050, aligning with the Business Ambition for 1.5°C initiative. To support this long-term goal, they have raised their near-term reduction targets. They aim for a 54.6% reduction in Scope 1 and 2 emissions by 2030, based on a 2017 baseline, which is consistent with a 1.5°C target. Furthermore, Sumitomo Forestry has committed to a 16% reduction in Scope 3 emissions from purchased goods and services and the use of sold products by 2030, also from a 2017 baseline.

More recently, based on a 2021 baseline, Sumitomo Forestry commits to reducing absolute Scope 1 and 2 GHG emissions by 42.0% by 2030. They also commit to reducing Scope 3 GHG emissions from purchased goods and services and the use of sold products by 51.6% per square meter of houses sold within the same timeframe. For the long term, they aim to reduce absolute Scope 1 and 2 GHG emissions by 90.0% by 2050, and Scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, and use of sold products by 97.0% per square meter of houses sold. Their overall net-zero target is to reach net-zero greenhouse gas emissions across the value chain by 2050.