Clearwater Paper Announces Enhanced Multi-Year Sustainability Goals in 2022 ESG Report
Clearwater Paper Corporation has released its environmental, social, and governance (ESG) report for 2022.
The report shows that the company is still committed to making sustainable paper products. It also shows that the company-wide priorities for meeting several key sustainability benchmarks have grown significantly. These include emissions reductions, resource conservation, and company representation, among others, as part of revised, multi-year goals.
"These goals are the most ambitious ones we've set as a company," said Clearwater Paper CEO Arsen S. Kitch. "We want to make measurable progress in several areas while continuing to be good citizens and contributors in the communities where we work. This path forward supports our sustainability journey over the next decade.”
Clearwater Paper says in this year's report that they want to reduce Scope 1 and 2 greenhouse gas emissions by 30% by 2030, have at least 30% of their salaried employees be women by 2030, and pay their executives based on ESG targets, goals, and results.
The report also talks about how committed Clearwater Paper is to making circular paper products. Through the successful launch of ReMagine and NuVo, two of their innovative paperboard brand products made with up to 30% post-consumer recycled material, these brands are leading the way in designing products made from fibre blends that can be reintegrated into the fibre supply chain once reaching the end of their useful life.
Clearwater Paper also announced a new diversity, equity, and inclusion (DE&I) strategy. This strategy promotes a diverse and inclusive culture and looks at how the company's 13 U.S. locations can better represent their diverse local communities. This work is the first step toward the larger goal of Clearwater Paper, which is to help underrepresented groups get paid jobs and positions of leadership. "As a first-generation immigrant, it is very important to me that we support, welcome, and embrace all of our employees," Kitch said.
The following are the highlights of the report:
Announcement of revised emissions goal: 30% reduction of Scope 1 and 2 greenhouse gas emissions by 2030 from 2020 baseline
Set commitment to include ESG targets, goals, and outcomes in executive compensation
Completion of a first report through CDP (formerly the Carbon Disclosure Project), enabling efforts to quantify greenhouse gas emissions output and further refine climate impact reduction goals. This reporting supports alignment with the Task Force on Climate-Related Financial Disclosures (TCFD) framework
Recorded zero serious injuries and fatalities (SIFs) in 2021
Reduced Scope 1 and 2 emissions by a total of 12% in 2021 vs. 2020 baseline
Reduced 2021 water usage by 5% compared to 2020
Launched a new diversity, equity, and inclusion (DE&I) strategy with a specific goal of achieving female representation of 30% or greater of their salaried workforce through 2030
Clearwater Paper will do a new materiality assessment in 2023 to make sure that the company's strategy is still meeting all stakeholders' needs and suggestions. In next year's report, Clearwater Paper will also share its progress on the updated ESG goals and initiatives.
Source: Business Wire
Click here to access Clearwater Paper’s ESG Report 2022