Weyerhaeuser Company launched a new sustainability strategy mapping out commitments and goals for the next decade and beyond. The new strategy intensifies the company’s focus in three critical challenge areas: contributing to climate change solutions, helping provide sustainable homes for everyone, and helping rural communities thrive.
“We believe our company has a unique and compelling contribution to make in the world,” Devin Stockfish, president and CEO of Weyerhaeuser, said in a news release. “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 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.”
The company is committed to making tangible progress in contributing to climate change solutions, providing sustainable homes, and helping rural communities by 2030 as part of its 3 by 30 initiative. Some actions in the initiative involve continuing and strengthening existing work while others involve engaging new partnerships and stakeholders and driving innovation in new areas.
One area of focus includes supporting the development of forest carbon markets and accounting, including committing to a set company wide gas reduction target that aligns with the goal of limiting global warming to less than 2 degrees Celsius.
Weyerhaeuser also pledged to promote the use of mass timber and other innovative wood-building materials. Part of this pledge includes helping ensure sustainable building standards and tools include science-based assessments of wood products.
The company also pledged to improve its overall Giving Fund strategy by implementing a community resource assessment process that supports community strengths and identifies greatest needs for investment.
“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,” Stockfish said.
The new strategy addresses the broad social impact of Weyerhaeuser company policies, including ensuring the safety of employees, focusing on people development, building a diverse and equitable culture, and supporting local communities.
Seattle, Wash.-based Weyerhaeuser owns or controls around 11 million acres of timberlands in the United States and manages additional timberlands under long-term licenses in Canada.