{"id":8575,"date":"2023-07-17T16:30:56","date_gmt":"2023-07-17T06:30:56","guid":{"rendered":"https:\/\/woodcentral.com.au\/?p=8575"},"modified":"2024-12-26T22:39:43","modified_gmt":"2024-12-26T12:39:43","slug":"2030-vision-sumitomos-investment-in-global-forest-markets","status":"publish","type":"post","link":"https:\/\/woodcentral.com.au\/2030-vision-sumitomos-investment-in-global-forest-markets\/","title":{"rendered":"2030 Vision: Sumitomo&#8217;s Investment in Global Forest Markets"},"content":{"rendered":"\n<p>Sumitomo Forestry is expanding forest interests in the United States, following a \u00a560 billion (or AUD 630 million) investment in US forestry.<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/sfc.jp\/english\/news\/pdf\/20230127_01.pdf\" rel=\"noreferrer noopener\">Announced in January 2023<\/a>, Sumitomo Forestry &#8211; one of the world&#8217;s largest forest companies &#8211; established Eastwood Forests, LLC, focused on selling timber and forest carbon assets in the north american market.<\/p>\n\n\n\n<p>Now,&nbsp;<a href=\"https:\/\/japannews.yomiuri.co.jp\/business\/companies\/20230716-123157\/\" target=\"_blank\" rel=\"noreferrer noopener\">the Japanese Times<\/a>&nbsp;reports that Sumitomo Forestry has attracted interest from nine Japanese companies who have invested in the fund.<\/p>\n\n\n\n<p>The companies include Eneos Corp., Sumitomo Mitsui Banking Corp. and Osaka Gas Co.<\/p>\n\n\n\n<p>The investment was made as part of the company&#8217;s &#8220;Mission TREEING 2030&#8221; initiative &#8211; and the fund plans to purchase 130,000 hectares of US forest assets by 2027.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"youtube-embed\" data-video_id=\"xsKRGN0Jyyw\"><iframe loading=\"lazy\" title=\"\u3010\u4f4f\u53cb\u6797\u696d\u3011Sumitomo Forestry Group Long-Term Vision &quot;Mission TREEING 2030&quot;\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/xsKRGN0Jyyw?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><figcaption class=\"wp-element-caption\"><em>Footage courtesy of <a href=\"https:\/\/www.youtube.com\/@user-bw1cs1xp8u\">@user-bw1cs1xp8u<\/a><\/em>. <\/figcaption><\/figure>\n\n\n\n<p>The investment will generate 1 million tons of annual carbon credits equivalent to 1 million tons of C02 through afforestation and thinning.<\/p>\n\n\n\n<h6 class=\"wp-block-heading\">What is Mission TREEING 2030?<\/h6>\n\n\n\n<p>&#8220;Mission TREEING 2030&#8221; is Sumitomo Forestry&#8217;s long-term vision to use forestry to achieve total decarbonisation by 2030. <a href=\"https:\/\/sfc.jp\/english\/corporate\/vision\/\">Announced in February 2022<\/a>, Sumitomo Forestry is expanding its investment in global forest assets &#8211; with Eastwood Forests the first project funded under the initiative.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"730\" height=\"700\" src=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Mission-Treeing-2030-Wood-Central.jpg\" alt=\"\" class=\"wp-image-8576\" style=\"width:574px;height:550px\" srcset=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Mission-Treeing-2030-Wood-Central.jpg 730w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Mission-Treeing-2030-Wood-Central-600x575.jpg 600w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Mission-Treeing-2030-Wood-Central-300x288.jpg 300w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Mission-Treeing-2030-Wood-Central-696x667.jpg 696w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Mission-Treeing-2030-Wood-Central-438x420.jpg 438w\" sizes=\"auto, (max-width: 730px) 100vw, 730px\" \/><figcaption class=\"wp-element-caption\">The Sumitomo Forestry Group&#8217;s 2030 is one of the world&#8217;s most ambitious decarbonisation policies. (Photo Credit: Sumitomo Forestry)<\/figcaption><\/figure>\n\n\n\n<p><a href=\"https:\/\/woodcentral.com.au\/carbon-offsets-long-term-risk-for-production-forests\/\">As reported by Wood Central<\/a>, Sumitomo Forestry Group is one of a growing number of forestry businesses taking advantage of the push to use carbon credits to meet climate targets.<\/p>\n\n\n\n<figure class=\"wp-block-image alignwide size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"414\" height=\"327\" src=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/img_001_eng.png\" alt=\"\" class=\"wp-image-8577\" srcset=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/img_001_eng.png 414w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/img_001_eng-300x237.png 300w\" sizes=\"auto, (max-width: 414px) 100vw, 414px\" \/><figcaption class=\"wp-element-caption\">The plan targets decarbonisation through the Sumitomo Forestry &#8216;wood cycle.&#8217; (Photo Credit: Sumitomo Forestry)<\/figcaption><\/figure>\n\n\n\n<p>Sumitomo Forestry seeks to expand forest interests in North America, Asia and Oceania.<\/p>\n\n\n\n<p>As part of Mission Treeing 2030, it aims to increase its forest footprint by 500,000 hectares and increase assets under management to 100 billion yen by 2030.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"youtube-embed\" data-video_id=\"WgRMGBix33c\"><iframe loading=\"lazy\" title=\"\u3010\u4f4f\u53cb\u6797\u696d\u3011History of Sumitomo Forestry\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/WgRMGBix33c?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><figcaption class=\"wp-element-caption\"><em>Sumitomo Forestry is one of the world&#8217;s largest and most globalised forest companies in an increasingly globalised carbon market. Footage courtesy of <a href=\"https:\/\/www.youtube.com\/@user-bw1cs1xp8u\">@user-bw1cs1xp8u <\/a><\/em><\/figcaption><\/figure>\n\n\n\n<h6 class=\"wp-block-heading\">NeXT FOREST: How Sumitomo Forestry generates global carbon credits<\/h6>\n\n\n\n<p>In February 2023,<a href=\"https:\/\/www.ihi.co.jp\/csr\/english\/nextforest\/\" target=\"_blank\" rel=\"noreferrer noopener\">&nbsp;Sumitomo Forestry launched NeXT FOREST<\/a>&nbsp;&#8211; a joint tropical peatland management project with <a href=\"https:\/\/www.ihi.co.jp\/en\/\">IHI Corporation <\/a>in Indonesia.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"407\" src=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1024x407.png\" alt=\"\" class=\"wp-image-8580\" style=\"width:574px;height:228px\" srcset=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1024x407.png 1024w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-600x238.png 600w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-300x119.png 300w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-768x305.png 768w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1536x610.png 1536w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-2048x814.png 2048w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-696x277.png 696w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1068x424.png 1068w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1920x763.png 1920w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1057x420.png 1057w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/Sumitomo-Forestry-worldmap-Wood-Central-1-1320x525.png 1320w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">In partnership with IHI, Sumitomo Forestry is working on several global projects to reduce deforestation. (Image Credit: NeXT FOREST project).<\/figcaption><\/figure>\n\n\n\n<p>Now, Sumitomo is using satellites and AI to monitor peatland degradation in real-time.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"716\" src=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-1024x716.jpg\" alt=\"\" class=\"wp-image-8581\" srcset=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-1024x716.jpg 1024w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-600x420.jpg 600w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-300x210.jpg 300w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-768x537.jpg 768w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-1536x1074.jpg 1536w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-696x487.jpg 696w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-1068x747.jpg 1068w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-601x420.jpg 601w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-100x70.jpg 100w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central-1320x923.jpg 1320w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/07\/The-NeXT-PROJECT-in-Indonesia-Wood-Central.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">The Peatland project in Indonesia. (Image Credit: NeXT Forest project).<\/figcaption><\/figure>\n\n\n\n<p>The project uses a high-precision, high-density weather observation technology and network system coupled with on-ground measurement data to improve the sustainable management of rare peatland forests.<\/p>\n\n\n\n<p>According to Sumitomo Forestry, which has managed 145,000 hectares of peatland for over a decade, &#8220;global demand for agriculture is now a major driver of peatland deforestation.&#8221;<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/woodcentral.com.au\/worldwide-impact-eu-passes-law-banning-deforestation-products\/\" rel=\"noreferrer noopener\">Whilst steps like the EU Deforestation Regulation<\/a>&nbsp;play an important role in preventing deforested products from entering European markets, the NeXT FOREST initiative is instrumental in preventing deforestation from occurring in the first place.<\/p>\n\n\n\n<p>According to Sumitomo Forestry, &#8220;These technologies help create high-quality carbon credits by adding not just the value of climate actions to absorb and store CO2, but also the value of natural capital such as preserving biodiversity and water cycle conservation and contributing to local communities.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sumitomo Forestry is expanding forest interests in the United States, following a \u00a560 billion (or AUD 630 million) investment in US forestry. Announced in January 2023, Sumitomo Forestry &#8211; one of the world&#8217;s largest forest companies &#8211; established Eastwood Forests, LLC, focused on selling timber and forest carbon assets in the north american market. Now,&nbsp;the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8582,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[51,52,32,46,44],"tags":[],"ppma_author":[69],"class_list":{"0":"post-8575","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-americas","8":"category-asia","9":"category-global-news","10":"category-industry","11":"category-sustainable-forest-management"},"authors":[{"term_id":69,"user_id":1,"is_guest":0,"slug":"woodcentral","display_name":"Wood Central","avatar_url":{"url":"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/02\/MASTER-BRAND-MARK_POS_RGB-e1676449549955.jpg","url2x":"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/02\/MASTER-BRAND-MARK_POS_RGB-e1676449549955.jpg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts\/8575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/comments?post=8575"}],"version-history":[{"count":5,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts\/8575\/revisions"}],"predecessor-version":[{"id":23132,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts\/8575\/revisions\/23132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/media\/8582"}],"wp:attachment":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/media?parent=8575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/categories?post=8575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/tags?post=8575"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/ppma_author?post=8575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}