financial measure, is calculated as net debt as of a period end divided by Adjusted EBITDA for the trailing 12 months ending on such date.
***
See footnote ** in “Compensation Discussion and Analysis — Executive Summary — 2019 Company Performance Highlights” on page
22
for the definition of and information regarding why we present Cash Available for Distribution (“CAD”) and for a reconciliation of this non-GAAP financial measure to cash provided by operating activities.
Environmental, Social and Governance Highlights
Environmental
CatchMark seeks to maximize long-term returns by actively managing our timberlands to achieve an optimum balance among biological timber growth, current harvest cash flow, and responsible environmental stewardship.
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We are proud that 100% of our fee timberlands, including those held through joint ventures, are certified as a sustainable forest according to the high standards of the Sustainable Forestry Initiative® (SFI).
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Since 2013, we have planted more than 47 million trees, including over eight million in 2019.
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We plant four seedlings for every tree that we harvest (excluding thinning operations).
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We have been a member of the Forestry for Wildlife Partnership for Georgia since 2010 and we were again recognized in 2020 as a Forestry Wildlife Partner by the Georgia Department of Natural Resources’ Wildlife Resources Division and the Governor for our stewardship and land management practices benefiting Georgia’s wildlife, in particular our work on the Sprewell Bluff Wildlife Management Area to enhance the forest habitat for the endangered red-cockaded woodpecker.
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Through our Dawsonville Bluffs joint venture, we own and manage two mitigation banks located in North Georgia that preserve 17.6 miles of stream, of which, 8.5 miles of stream has been restored, improving habitat for sensitive and endangered species including the Etowah crawfish and Holiday darter.
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We have a process for identifying populations of known threatened, endangered, and rare species and all field personnel have training in species identification and their habitats. In our South Central region we have occurrences of Fringed Campion and Trillium, both endangered plants, and we developed management plans to protect these species.
Social
We care about our employees and recognize that they are key to the success of our company. We endeavor to demonstrate that in many ways.
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We believe that all individuals should be treated with dignity and respect and have adopted a Human Rights Policy that, among other things, includes a No Harassment Policy that does not tolerate discriminatory harassment of any sort, including based on race, color, religion, sex, national origin, age, disability, pregnancy, childbirth, or related medical conditions, gender identity, sexual orientation, genetic information, citizenship status, service member status or any other characteristic protected by federal, state or local anti-discrimination laws.
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We value diversity in the workplace. As of March 31, 2020, 50% of our executive officers are women. In addition, 48% of our total number of employees are women.
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We are committed to providing and maintaining a safe and healthy workplace for all workers (including vendors, contractors, temporary employees and volunteers) as well as clients, visitors and members of the public. Risks and hazards to health and safety will be eliminated or minimized, as far as is reasonably practicable. We have adopted a Health and Safety Policy in furtherance of this commitment.
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We value the contributions of all of our employees, as evidenced by our CEO pay ratio of 10.2 to 1 for 2019. We provide high-quality benefits, including healthcare and wellness initiatives, and a 401(k) plan with a generous company match.