Sumitomo Forestry Co., Ltd.
IHI Corporation

Sumitomo Forestry Co., Ltd. (President and Representative Director: Toshiro Mitsuyoshi; Headquarters: Chiyoda-ku, Tokyo; hereinafter, “Sumitomo Forestry”) and IHI Corporation (President and CEO:  Hiroshi Ide; Headquarters:  Koto-ku, Tokyo; hereinafter, “IHI”) announced that they will jointly exhibit at the Japan Pavilion in the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26)^*1 held in Glasgow, UK from October 31 to November 12 2021. In addition, the two companies will participate in a special seminar organized by the Ministry of Economy, Trade and Industry (hereinafter, “METI”).

To restrain greenhouse gas emissions, it is urgent to properly manage tropical forests and peatlands in order to reduce CO₂ emissions caused by forest fires and peatland loss. Tropical peatlands play a key role in preserving the total global water cycle and biodiversity. In addition to reducing CO₂ emissions, it is equally important to properly evaluate the value of nature.

In June 2021, Sumitomo Forestry and IHI agreed on a business alliance for “Forest Management Consulting Business” and “Development of sustainable business that maximizes natural capital value”. Dispatch of information and technical proposals will officially start in full scale under a unified brand.

[Participation in Japan Pavilion]

The Japan Pavilion is organized by the Japanese Ministry of the Environment. The exhibitions and seminars are used to dispatch information to society on environmental technology carried out by joint efforts of the Japanese government and industry to encourage transition to decarbonization in Japan and overseas. Throughout 12 on-site booth exhibits and 33 virtual exhibits, technology and measures to realize Japan’s goal of "carbon neutrality by 2050" and contribution to global decarbonization will be explained. 

Sumitomo Forestry and IHI will jointly participate both speaking in a seminar, a side event of the Japan Pavilion organized by METI, and explain their efforts in an exhibition booth in the pavilion.

Presentation details in METI’s seminar

METI promotes utilization of satellite data such as HISUI^*2, ASTER^*3, PALSAR^*4 and supports the development and worldwide dissemination of the collaboration between by Sumitomo Forestry and IHI. In this seminar organized by METI, Sumitomo Forestry and IHI as well as other top runners in the government, academia, and industry will take the podium to promote the utilization of advanced world-class technology and Japan’s climate change countermeasures.

Seminar overview

• Time : 5:00PM-6:30PM, Monday, November 8, 2021 (GMT)
• Title :  “Utilization of satellite data and sustainable tropical peatlands management through Japan Industrial-Government-Academia Collaboration”
• Theme (scheduled) : 
  Importance of tropical peatlands in climate change countermeasures
  Efforts of Sumitomo Forestry to address climate change
  IHI's advanced satellite observation and monitoring technology

Booth exhibit

Using models and panels, Sumitomo Forestry and IHI will explain the importance of tropical forests and tropical peatlands in dealing with global climate change and their efforts. Measures will be introduced for the worldwide development of technology and services created by combining technologies of both companies. Sumitomo Forestry has the world’s only sustainable tropical peatland management model established in Indonesia. IHI has the technologies on satellite data utilization and state-of-the-art sensing technologies to be applied to UAV^*5 and meteorological observation and prediction. In addition, there will be explanation provided by METI regarding utilization of satellite data, and promotion of the business by Japanese corporations.

Exhibition overview

• Panels to explain the outline of efforts made by the two companies
• Four exhibits and explanations

The Japan Pavilion will be equipped with a virtual pavilion which can be viewed online and information will be sent out globally. 

[Participation in Peatland Pavilion]

In the Peatland Pavilion organized by UNEP^*6, the key roles played by peatlands regarding carbon storage, biodiversity conservation, and so forth, will be discussed, and successful case examples in policy, business, and research will be shared. Sumitomo Forestry and IHI will present panels and exhibits in the pavilion and deliver a lecture in a seminar.

Exhibit panels

Sumitomo Forestry is involved in a wide range of business activities both in Japan and overseas, including forest management; procurement, process, distribution of timber, construction; and biomass power generation fueled by unused forest wood and construction waste. For this reason, the company contributes to both carbon fixation and reduction of CO₂ emissions in various parts of the value chain. In addition to the economic value generated by its business activities, Sumitomo Forestry, through its management, seeks to enhance its public benefit value -including environmental and social values, such as preserving biodiversity, suppressing greenhouse gases, and securing labor safety and employment- and to contribute to the achievement of SDGs and the realization of a decarbonized society.

To develop and create a world in which nature and technology work in unity, IHI aims to realize a circular economy, prevent and mitigate disasters, and materialize fulfilling lifestyles through the collaboration with Sumitomo Forestry.
Furthermore, we will contribute to the realization of zero-carbon by providing a variety of solutions such as hydrogen energy, and ammonia's carbon recycling technology, and aircraft electrification as part of our effort to eliminate CO₂ emissions in order to resolve the problem of climate change.
The two companies will accelerate establishment of sustainable business to resolve global environmental problems.

<Reference>

• Measures by Sumitomo Forestry and IHI
  https://www.ihi.co.jp/csr/english/nextforest/index.html
• COP26 Japan Pavilion
  http://copjapan.env.go.jp/cop/cop26/en/

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