17:37:37 EST Tue 05 Dec 2023
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 81,273,936
Close 2023-04-13 C$ 101.41
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West Fraser receives SBTi OK for GHG reduction targets

2023-04-13 17:22 ET - News Release

Mr. Ray Ferris reports


The Science Based Targets initiative (SBTi) has validated West Fraser Timber Co. Ltd.'s 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 chief executive officer 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 per cent by 2030 and its scope 3 GHG emissions 25 per cent by 2030.

Read more about sustainability at West Fraser's 2021 sustainability report.

About West Fraser Timber Co. Ltd.

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 (oriented standard board), LVL (laminated veneer lumber), MDF (medium-density fibreboard), 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.

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