ABH (NYSE, TSX)
MONTREAL, June 5 /CNW Telbec/ - AbitibiBowater President and Chief
Executive Officer David J. Paterson highlighted today the Company's commitment
to sustainability at its first Annual General Meeting of Stockholders. Since
its creation in October 2007, AbitibiBowater has been building on the positive
momentum of its predecessor companies, focusing on reducing costs and
improving efficiency, while continuing to enhance its environmental
In its manufacturing processes, AbitibiBowater is committed to adopting
the best practices to reduce its environmental footprint by diminishing waste
and ensuring responsible use of resources, particularly fiber, energy and
water. To further this approach, the Company announced today that it has
identified additional sustainability objectives in four specific areas:- Climate Change - strive to operate as a carbon-neutral enterprise;
- Responsible Fiber Sourcing - source from 100% third-party certified
- Product Stewardship - offer innovative and best-in-class products to
support customers' environmental expectations;
- Stakeholder Relations - engage stakeholders to better leverage
opportunities and resolve challenges."We are committed to continue the growth and diversification of our
product mix while positioning the Company as an industry model and the wise
choice for the environmentally sensitive customer," said David Paterson. "We
want to offer the best sustainable solutions to them and their consumers."
AbitibiBowater will continue to focus on reducing overall greenhouse gas
(GHG) emissions with the goal of becoming a carbon-neutral enterprise.
Reducing GHGs was a target of the Company's predecessor organizations and
significant progress has been achieved to date. Since 2000, GHG emissions by
AbitibiBowater have been reduced by 34% globally, with a 16% reduction per
metric ton of paper produced. The Company intends to continue to implement new
initiatives to further reduce emissions through improved processes, energy
efficiency and green energy projects.
Responsible Fiber Sourcing
With 95% of woodlands operations certified, AbitibiBowater has more
third-party certified sustainable forest land than any other company in the
world. Currently, 50 million acres - an area approximately half the size of
California - are certified using an independent, internationally-recognized
standard. However, AbitibiBowater is committed to improving this record by
certifying 100% of its woodlands by the end of 2008. Moreover, the Company
intends to partner with its external suppliers to ensure that all the fiber it
uses comes from certified sources.
As one of the world's largest recyclers of old newspapers and magazines,
the Company aims to further enhance the sustainability of its fiber sourcing.
AbitibiBowater is intent on continued expansion of the collection and use of
recycled fibers, through its AbitibiBowater Paper Retriever and other Company
AbitibiBowater is committed to responsible product stewardship and
intends to manufacture more innovative products with a lighter environmental
impact. The Company recently launched two new papers, EcoLaser™ and
Ecopaque™, using less water and energy as well as 50% less fiber compared
with papers traditionally used for the same applications.
AbitibiBowater wants to better reach out to its stakeholders, in
particular the communities where the Company does business and its employees
live. The Company believes in being a responsible employer and a good neighbor
by engaging meaningfully with local communities, including Aboriginal peoples.
As an example, AbitibiBowater sustains partnerships with over 50 First Nations
and Native American groups for the cooperative management of sustainable
forest licenses, engineering, financing, reforestation, forest road access,
harvesting, silviculture and tree planting, transportation and wood
"While we are proud of the environmental performance of AbitibiBowater's
legacy companies, we recognize that we can do more, that we can do better,"
said David Paterson. "We are open to fresh thinking, new approaches and
innovative solutions that will ingrain sustainability as a core value as
understood by our customers, our employees, our communities and all Company
AbitibiBowater produces a wide range of newsprint, commercial printing
papers, market pulp and wood products. It is the eighth largest publicly
traded pulp and paper manufacturer in the world. AbitibiBowater owns or
operates 27 pulp and paper facilities and 34 wood products facilities located
in the United States, Canada, the United Kingdom and South Korea. Marketing
its products in more than 90 countries, the Company is also among the world's
largest recyclers of old newspapers and magazines, and has more third-party
certified sustainable forest land than any other company in the world.
AbitibiBowater's shares trade under the stock symbol ABH on both the New York
Stock Exchange and the Toronto Stock Exchange.