Weyerhaeuser GHG Reduction Targets Won SBTi Approval

SEATTLE (Scrap Monster): Weyerhaeuser Company announced that its greenhouse gas reduction target has been approved by the Science Based Targets initiative (SBTi). The target was identified as to be consistent with levels required to meet the goals of the Paris Agreement and to keep global warming at 1.5 degree celsius. The highest SBTi designation recognizes the company’s initiatives in addressing the impacts of climate change.

As part of the approval process, Weyerhaeuser committed to reduce its Scope-1 and Scope-2 emissions by 42% by 2030. Also, the company committed to reduce Scope-3 emissions by 25% per ton of production by the same time. The above targets are in comparison with 2020 baseline. Furthermore, the company reiterated its commitment to achieve net-zero emissions by 2050.

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The company aims to achieve the above reduction targets through various energy efficiency projects, increased usage of renewable energy and improved supplier engagement, said the press release.

Devin W. Stockfish, president and CEO of Weyerhaeuser noted that it is the first North American company from the sector to make such ambitious commitments and achieve the prestigious designation. The important milestone will help Weyerhaeuser to build on its strong ESG foundation, he added.