Canfor and Canfor Pulp release sustainability report with climate change, air quality, water and waste management targets
June 30, 2022 By Canfor Corporation
Canfor Corporation and Canfor Pulp Products Inc. have jointly announced 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 and 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.
• Of new hires, 24 per cent were from under-represented groups, on track to achieve 33 per cent by 2025 and 50 per cent by 2030.
• We will reduce absolute scope 1 and 2 emissions by 42 per cent 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 per cent of Canfor-managed forests are certified to the Sustainable Forestry Initiative (SFI) or Forest Steward Council (FSC) Forest Management Standards.
• 100 per cent of U.S. sourced wood is certified to the SFI Fibre Sourcing Standard.
• 80 per cent of energy consumption in operations is from renewable sources.
• Canfor’s Canadian wood products operations’ total spend of 3.4 per cent with Indigenous vendors, on track to achieve 5 per cent 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.
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