Sumitomo Forestry (SFC) announced that the company had been included in the three Japanese stock indices selected by the world’s largest pension fund Japan’s Government Pension Investment Fund (GPIF) for the launch of its Environmental, Social and Governance (ESG) investments. According to the announcement, Sumitomo Forestry is one of only two home builders selected in all three indices.
The indices are:
- FTSE Blossom Japan Index
- MSCI Japan ESG Select Leaders Index
- MSCI Japan Empowering Women Index
ESG investment is expected to attract increasing attention going forward due to a recent global expansion of related investment and the start of passive management of JPY 1 trillion in ESG investment by GPIF.
In FY2016 Sumitomo Forestry increased net sales by 7%.
Earlier Sumitomo Forestry opened a showroom in Indonesia.
About Sumitomo Forestry:
The company operates in the areas of management of forests, development of new forestry and environment-related business, biomass power generation, purchase, manufacturing, secondary processing and sales of timber and building materials. Sumitomo Forestry also deals with contract construction, sales, after-sales maintenance and renovation of detached houses and multi-unit residences.