VANCOUVER, BC, May 17, 2023
/CNW/ - Canfor Pulp Products Inc. (TSX: CFX) and Canfor Corporation
(TSX: CFP) jointly announce the release of the 2022 Sustainability
Report, which outlines performance on environmental topics such
climate change, sustainable forestry and energy management, and
people-centered issues such as inclusion and diversity and
Indigenous relations.
"Our deep commitment to sustainability has long been embedded in
Canfor Pulp and it is well aligned with the role our
climate-friendly products are playing in the transition to a low
carbon economy. Our 2022 Sustainability Report outlines the
progress we are making in our organization within our three pillars
of people, planet and products," says Kevin
Edgson, President and CEO of Canfor Pulp. "The pulp and
paper products we manufacture are playing an important role in
displacing plastics and other fossil fuel-based products. We need
these low-carbon, renewable products to help achieve our shared
global climate change goals."
We continue to invest in a wide range of sustainability
initiatives, with particular emphasis on greenhouse gas (GHG)
emissions reductions. We have a target to reduce scope 1 and 2 GHG
emissions by 42% by 2030 compared to a 2020 baseline year and have
committed to investing at least $250
million in decarbonization projects through initiatives
including fuel switching, energy efficiency and electrification
opportunities. New for this year is a target to distribute
$2 million annually to support
community programs and initiatives through Canfor's Good Things
Come From Trees community giving program, and performance
against targets for water management and air quality for Canfor
Pulp.
For the first time, we obtained limited assurance from an
independent third party on our scope 1 and 2 GHG emissions
inventory for the 2020 baseline and 2022 performance year.
"Undergoing external validation of our GHG emissions each year will
give us a solid understanding of where we are today and the
comprehensive decarbonization plan required to achieve our goals.
This is an important step in our sustainability journey," says
Pat Elliott, CFO, Canfor and Canfor
Pulp, and Senior Vice President, Sustainability.
The 2022 Sustainability Report also includes select information
on ESG topics for the Vida Group, the Sweden-based wood products manufacturing
company of which Canfor has a 70% ownership position. As Vida's
sustainability strategy progresses, we will work to align reporting
processes with any new sustainability reporting regulations, both
in North America and in
Europe.
The full report including performance details from 13 material
topics, along with separate Sustainability Highlights and
Performance at a Glance documents, are available for download at
sustainability.canfor.com.
Canfor's 2022 Sustainability Report (10
MB)
Canfor's 2022 Sustainability Highlights (2
MB)
2022 Performance at a Glance
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 Pulp Products
Inc.
Canfor Pulp Products Inc. ("Canfor Pulp" or "CPPI") is a leading
global supplier of pulp and paper products with operations in the
central interior of British
Columbia ("BC"). Canfor Pulp owns and operates three mills
in Prince George, BC with a total
capacity of 780,000 tonnes of Premium Reinforcing Northern Bleached
Softwood Kraft ("NBSK") Pulp and 140,000 tonnes of kraft paper.
CPPI shares are traded on the Toronto Stock Exchange under the
symbol CFX. For more information visit canfor.com.
SOURCE Canfor Pulp Products Inc.