SBTi Validates West Fraser’s Science-Based Emissions Reduction Targets
West Fraser Timber Co. Ltd. (“West Fraser” or the “Company”) announced that the Science Based Targets initiative (SBTi) has validated its scope 1, 2 and 3 emissions reduction targets. This validation further supports West Fraser’s plan to achieve near-term greenhouse gas (“GHG”) reductions across all its operations located in the United States, Canada, United Kingdom and Europe.
SBTi helps companies to set and validate emission reduction targets in line with climate science and Paris Agreement goals. It promotes best practice in science-based target setting and independently assesses companies’ targets. To accelerate corporate climate action, SBTi is focused on significant reductions in global emissions before 2030 and achieving net-zero emissions before 2050.
“Climate action is a fundamental element of West Fraser’s sustainability strategy,” said Ray Ferris, President and CEO of West Fraser. “Validation of West Fraser’s proposed targets, committing to reduce GHG emissions in line with climate science and aligned with the Paris Agreement goals by 2030, furthers the credibility of our targets and builds on our solid legacy of sustainability performance of our products while enhancing the social, environmental and economic benefit in the communities in which we operate.”
West Fraser is on a path to reduce its scope 1 and 2 GHG emissions 46.2% by 2030 and its scope 3 GHG emissions 25% by 2030.
Read more about Sustainability at West Fraser: 2021 Sustainability Report
About West Fraser
West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy. West Fraser’s products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials. For more information about West Fraser, visit www.westfraser.com.
About Science Based Targets Initiative
The Science Based Targets initiative (“SBTi”) is a global body enabling businesses and financial institutions to set ambitious emissions reductions targets in line with the latest climate science. For more information about SBTi, visit: sciencebasedtargets.org
Robert B. Winslow, CFA – Director, Investor Relations & Corporate Development – firstname.lastname@example.org – (416) 777-4426
Source: West Fraser Timber Co. Ltd.