Resolute Forest Products Joins WWF Climate Savers Program
TORONTO and MONTREAL, Nov. 10, 2011 /CNW Telbec/ - World Wildlife Fund (WWF) is pleased to welcome Resolute Forest Products (NYSE: ABH) (TSX: ABH), an organization committed to sustainability leadership as the newest member of its prestigious Climate Savers program (www.wwf.ca/about_us/business/climate_savers).
As part of their commitment to this partnership, Resolute Forest Products has pledged to reduce their absolute greenhouse gas (GHG) emissions by 65 per cent by 2015 below 2000 levels.
Resolute's decision to join WWF Climate Savers commits the Company to fully confront the GHG impacts throughout the complete corporate value chain, looking at emissions both upstream and downstream of its pulp and paper and wood products operations. It also includes a commitment to work with key suppliers to assess and reduce their own contributions to carbon emissions throughout the supply chain.
"Resolute wanted to make a bold statement to our employees, our business partners and the market that we take our responsibility for preventing climate change seriously," stated Richard Garneau, President and Chief Executive Officer. "Delivering on the commitments made through this partnership will be challenging, but will also make us a cleaner and more efficient company - focused on a balanced approach to the environmental, social and economic triple bottom line."
"Climate change is the greatest threat to our planet and the commitment of Climate Savers companies like Resolute is critical to answering that threat," said Gerald Butts, President and Chief Executive Officer, WWF. "We hope that Resolute's leadership will inspire other companies to take action in protecting the future of our living planet."
Between 2000 and 2010, Resolute has reduced its emissions by 57%. As part of its Climate Savers partnership, Resolute is committed to reducing its emissions by an additional 8% by 2015. The total impact of Resolute's GHG reductions from 2000 and throughout this agreement would be equivalent to taking 1,273,0001 cars off the road.
As part of its agreement to join the program, Resolute has committed to:
- Achieve a 65% absolute reduction in identified GHG emissions by 2015 compared to 2000;
- Increase Forest Stewardship Council (FSC) forest certification of managed forests from 18% in 2010 to 80% by 2015;
- Obtain third-party chain of custody certification by 2012 at all North American pulp and paper mills and wood products facilities under Company management;
- Develop and offer products with lower GHG footprints to help Resolute's customers reduce their own GHG emissions;
- Work with key suppliers to evaluate and address their own GHG emissions and complete work with our ten most significant suppliers by 2015;
- Comply with the Greenhouse Gas Protocol's third-party accounting and reporting standard for scope 3 emissions reporting by 2015;
- Develop tools to track GHG emissions from the transportation of Company products;
- Implement tracking systems for forest biomass used for energy purposes; and
- Find ways to improve the Company understanding of the impact of its forest management activities on carbon emissions and sequestration in the forest.
WWF's Climate Savers program was founded in 1999 to engage businesses in establishing ambitious greenhouse gas reduction targets and voluntarily and creatively working to reduce emissions. By increasing efficiency, Climate Savers companies are saving hundreds of millions of dollars, proving that protecting the environment is sound business practice.
WWF is creating solutions to the most serious conservation challenges facing our planet, helping people and nature thrive. www.wwf.ca
Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products. The Company owns or operates 18 pulp and paper mills and 24 wood products facilities in the United States, Canada and South Korea. Marketing its products in close to 90 countries, Resolute Forest Products has third-party certified 100% of its managed woodlands to sustainable forest management standards. The shares of Resolute Forest Products, formerly doing business as AbitibiBowater, trade under the stock symbol ABH on both the New York Stock Exchange and the Toronto Stock Exchange.
1 Based on an estimated reduction of 7,157,071 tCO2 (11,172,417 in 2000 minus 4,015,346 in 2015)