As efforts toward the realization of a carbon-free society in 2050 are underway, Sumitomo Forestry, a major housing manufacturer, has set up a new fund to embark on the protection and management of large-scale forests at home and abroad. ..
Sumitomo Forestry announced on the 14th that it will hold a press conference in Tokyo to establish a new fund to protect and manage large-scale forests at home and abroad.
Specifically, Sumitomo Forestry will manage a fund funded by multiple companies to protect forests that are declining overseas, and to cut down domestic trees that have decreased their carbon dioxide absorption as they age. We will plant trees in Japan.
The scale of the fund is 100 billion yen, and in 2030, it plans to own 500,000 hectares of forest in Japan and overseas, including Southeast Asia and North America.
The company already owns forests that absorb more carbon dioxide than it emits, but in the future, it will issue the amount of carbon dioxide reduction generated by forest protection and tree planting as "credits" and invest in the fund. It means that it will be distributed to companies according to the situation.
Sumitomo Forestry President Toshiro Mitsuyoshi said, "Forests have various values such as biodiversity, and we want more people to know the value that forests supply, starting with the absorption of carbon dioxide." ..