VANCOUVER, BC, June 28,
2022 /CNW/ - Canfor Corporation (TSX: CFP) and Canfor
Pulp Products Inc. (TSX: CFX) jointly announce today the release of
the 2021 Sustainability Report which includes additional
performance targets for Climate Change, Water Management, Waste
Management, and Air Quality. This is a continuation of their bold
ambition to become an industry leader in sustainability and
furthers their commitments to sustainable forestry; safety, health
and wellness; inclusion and diversity amongst employees, and
stronger partnerships with willing Indigenous
communities.
"Our vision is to create a future as sustainable as the forests,
for people, our products and the planet we all share. Making
sustainability a core value in our business is not only the right
thing to do for the planet, our people, stakeholders, partners and
customers, but it makes us a better company," said Don Kayne, President & CEO of Canfor
Corporation. "Our employees want to feel proud of the
organization where they work and feel an alignment with their
values. Our customers want to know that the products they purchase
from us are sustainably sourced and responsibly produced. Our
strong sustainability practices make us a better partner, a better
supplier and a better employer," added Kayne.
2021 Highlights:
- Of new hires, 24% were from under-represented groups, on track
to achieve 33% by 2025 and 50% by 2030
- We will reduce absolute scope 1 and 2 emissions by 42% by 2030,
and set a science-based reduction target for scope 3 GHG emissions
by 2024
- Canfor has committed to set near- and long-term company-wide
emission reductions in line with science-based net-zero with the
SBTi
- 54 million seedlings planted in 2021, with more than one
billion planted over the last 20 years
- 100% of Canfor-managed forests are certified to the Sustainable
Forestry Initiative (SFI) or Forest Steward
Council (FSC) Forest Management Standards
- 100% of U.S. sourced wood is certified to the SFI Fibre
Sourcing Standard
- 80% of energy consumption in operations is from renewable
sources
- Canfor's Canadian wood products operations' total spend of 3.4%
with Indigenous vendors, on track to achieve 5% by 2025
- More than $1.8 million in
charitable giving to 310 organizations through Canfor's Good Things
Come From Trees program
- Additional targets set for Air Quality, Water Management and
Waste Management
We are undertaking a comprehensive process to expand our
sustainability actions and associated reporting. For 2021 we
included disclosures aligned with the recommendations from the Task
Force on Climate-Related Financial Disclosures (TCFD) and the
Sustainability Accounting Standards Board (SASB) standards. This is
in addition to continuing to report in accordance with the existing
Global Reporting Initiative Standards: Core Option.
"Our reporting has continued to evolve and including TCFD and
SASB standards is a further step to increased transparency and in
response to the changing standards and expectations for our
industry," according to Pat Elliott,
CFO and SVP Sustainability.
Canfor's 2021 Sustainability Report (17 MB)
Canfor's 2021 Sustainability Highlights (3
MB)
Forward Looking Statements
Certain statements in this press release constitute
"forward-looking statements" which involve known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from any future results, performance or
achievements expressed or implied by such statements. Words such as
"expects", "anticipates", "projects", "intends", "plans", "will",
"believes", "seeks", "estimates", "should", "may", "could", and
variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements are
based on management's current expectations and beliefs and actual
events or results may differ materially. There are many factors
that could cause such actual events or results expressed or implied
by such forward-looking statements to differ materially from any
future results expressed or implied by such statements.
Forward-looking statements are based on current expectations and
Canfor assumes no obligation to update such information to reflect
later events or developments, except as required by law.
About Canfor Corporation
Canfor is a leading integrated forest products company based
in Vancouver, British Columbia
("BC") with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi, Arkansas and Louisiana, as well as in Sweden with 70% interest in Vida Group.
Canfor produces primarily softwood lumber and also owns a 54.8%
interest in Canfor Pulp Products Inc., which is one of the largest
global producers of market Northern Bleached Softwood Kraft Pulp
and a leading producer of high performance kraft paper. Canfor
shares are traded on The Toronto Stock Exchange under the symbol
CFP. For more information visit canfor.com.
SOURCE Canfor Corporation