Timberland and wood products company Weyerhaeuser announced today that is has established a new sustainability strategy, including a series of commitments and goals for the next 10 years.
Weyerhaeuser’s new program targets 3 primary sustainability areas that it intends to address between now and 2030, which the company has identified in its new “3 by 30” initiative. According to the company, these areas are: contributing to climate change solutions, helping provide sustainable homes for everyone, and helping rural communities thrive.
The company stated that while some of the commitments will be approached through continuing and strengthening work already in progress, the company will also engage with new partnerships and stakeholders, and driving innovation in new areas. These include:
- Supporting the development of forest carbon markets and accounting, including committing to set a companywide, science-based greenhouse gas reduction target that aligns with the goal of limiting global warming to less than 2°C.
- Promoting the use of mass timber and other innovative wood-building materials, including helping to ensure sustainable building standards and tools include science-based assessments of wood products.
- Improving the company’s overall Giving Fund strategy by implementing a community resource assessment process that supports community strengths and identifies greatest needs for investment.
Devin Stockfish, president and CEO of Weyerhaeuser, said:
“We believe our company has a unique and compelling contribution to make in the world. Our forests and wood products have an important role to play in mitigating climate change by absorbing and storing carbon from the atmosphere. Our sustainable wood products — the ultimate green-building material — can help meet growing needs for affordable and sustainable housing. And as a company with significant operations in rural communities across North America, we have a powerful opportunity to help these communities thrive.”
Stockfish added, “We know we can’t solve these challenges alone, but we also know our vast forests and the essential products we make put us in a tremendous position to make a real difference. If we’re able to move the dial in these areas over the next decade, we’ll provide enormous value not just to Weyerhaeuser, but to people, communities and ecosystems around the planet.”
Weyerhaeuser stated that the company’s new strategy supports its vision to become the world’s premier timber, land, and forest products company, and it also aligns with the global priorities of the United Nations Sustainable Development Goals.
“The past couple of months have brought into even sharper focus the urgency for companies to drive positive change and influence beyond their immediate operational footprints. Our new strategy reflects our commitment to meet that challenge, from keeping our employees safe through the COVID-19 pandemic to creating a truly inclusive environment for our people.”