ATLANTA,
Dec. 23, 2021
/PRNewswire/ -- CatchMark Timber Trust, Inc. (NYSE: CTT)
today released its 2020 ESG Report, which details the Company's
deep commitment to meeting the highest standards of environmental
stewardship, social responsibility, and corporate governance. The
report outlines CatchMark's mission to incorporate sustainable
practices into all operations, seeking to produce beneficial
results for all stakeholders – shareholders, customers, suppliers,
contractors, employees and neighbors. The report also outlines
important ESG ambitions for the years ahead.
Brian M. Davis, CatchMark's
President and CEO said: "To maximize the value of our exceptional
timberlands we must continue to engage in environmentally sound
practices across our operations. These include managing sustainable
harvests, which promote biodiversity and forest health; seeking
opportunities for carbon sequestration and alternative land uses,
including solar energy; and addressing climate change. In addition,
we promote a safe and healthy work environment and employ
procedures and programs to ensure compliance with the highest
standards of corporate governance and ethics."
The 2020 ESG Report also includes CatchMark's 2020 Carbon
Report, which is a detailed analysis of carbon storage, carbon
sequestration, and emissions. It determines the overall net carbon
impacts from the Company's timberland operations in the U.S. South.
According to the report, the company sequestered nearly 1.9 million
metric tons of CO2 and realized an estimated positive
net carbon impact of approximately 1.2 million metric tons of
CO2 in 2020.
Davis added: "We recognize that our timberlands, and subsequent
end-uses of our timber, can have an important role in mitigating
climate change. We are expeditiously moving forward with the value
realization of our environmental initiatives — like carbon
sequestration."
About CatchMark
CatchMark (NYSE: CTT) seeks to deliver consistent and growing
per share cash flow from disciplined acquisitions and superior
management of prime timberlands located in high demand U.S. mill
markets. Concentrating on maximizing cash flows throughout business
cycles, the company strategically harvests its high-quality
timberlands to produce durable revenue growth and takes advantage
of proximate mill markets, which provide a reliable outlet for
merchantable inventory. Headquartered in Atlanta and focused exclusively on timberland
ownership and management, CatchMark began operations in 2007 and
owns interests in 370,100 acres* of timberlands located in
Alabama, Georgia and South
Carolina. For more information, visit www.catchmark.com.
* As of October 15,
2021
Forward Looking Statements
This press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended. Such forward-looking statements
can generally be identified by our use of forward-looking
terminology such as "may," "will," "expect," "intend,"
"anticipate," "estimate," "believe," "continue," or other similar
words. However, the absence of these or similar words or
expressions does not mean that a statement is not forward-looking.
Forward-looking statements are not guarantees of performance and
are based on certain assumptions, discuss future expectations,
describe plans and strategies, contain projections of results of
operations or of financial condition or state other forward-looking
information. Forward-looking statements in this press release
include, but are not limited to, statements about our 2021/2022
ambitions. Many of the standards and sustainability metrics used in
preparing our ESG report, as well as our future objectives and
targets with respect to such metrics, continue to evolve and are
based on management assumptions believed to be reasonable at the
time of preparation but should not be considered guarantees. The
following important factors, among others, could cause actual
results or events to differ materially from our historical results
or those expressed or implied by forward-looking statements made in
this press release: (i) changes in requirements in third-party
certification of our timberlands; (ii) changes in policy and best
management practices; (iii) compliance with and changes in national
and regional environmental, health, safety, and human rights laws,
including emissions regulations, and other ethical business
practices; (iv) compliance with and changes to greenhouse gas
emissions and other standards related to climate change; (v) the
uncertainties of potential impacts of climate-related initiatives;
(vi) changes in environmental laws and regulations regarding timber
harvesting, delineation of wetlands, and endangered species, that
may restrict or adversely impact our ability to conduct our
business; (vii) adverse weather conditions, natural disasters and
other catastrophic events such as hurricanes, wind storms and
wildfires, which can adversely affect our timberlands and the
production, distribution and availability of our products; (viii)
we may not generate the harvest volumes from our timberlands that
we currently anticipate; (ix) the demand for our timber may not
increase at the rate we currently anticipate or could decline due
to changes in general economic and business conditions in the
geographic regions where our timberlands are located, including as
a result of the COVID-19 pandemic and the measures taken as a
response thereto; (x) a downturn in the real estate market,
including decreases in demand and valuations, may adversely impact
our ability to generate income and cash flow from sales of
higher-and-better use properties; (xi) the markets for carbon
sequestration credits, wetlands mitigation banking and solar
projects are still developing and we maybe unsuccessful in
generating the revenues from environmental initiatives that we
currently expect or in the timeframe anticipated; and (xiii) the
factors described in Part I, Item 1A Risk Factors of our Annual
Report on Form 10-K for the fiscal year ended December 31, 2020 and our other filings with
Securities and Exchange Commission. Accordingly, readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this report. We
undertake no obligation to update our forward-looking statements,
except as required by law.
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SOURCE CatchMark Timber Trust, Inc.