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West Fraser Timber Co. Ltd. publishes 2023 sustainability report

The report highlighted significant progress in environmental, social, and governance goals, with plans to enhance sustainability efforts

West Fraser Timber Co. Ltd. recently unveiled its 2023 sustainability report, showcasing the company’s strides in environmental, social, and governance objectives. 

“We have the privilege of delivering renewable building products for the world”, stated Sean McLaren, president and CEO of West Fraser. “I am proud of the work we have done to date and the level of commitment shown across our whole organization toward achieving our sustainability goals, but we have more work to do”. 

McLaren further emphasized the company’s plans: “In 2024, we will make additional investments to help improve our emissions profile; enter into joint stewardship arrangements with some First Nations; and adjust our strategies as necessary to ensure we remain on the path to becoming a sustainability leader”. 

KEY ACHIEVEMENTS OF 2023 

  • Climate Action: West Fraser’s climate strategy in 2023 concentrated on measuring, evaluating, and prioritizing actions to decarbonize scope 1, 2, and 3 greenhouse gas emissions. These targets, validated by the Science Based Targets initiative (SBTi) in April 2023, are part of the company’s efforts to achieve net zero emissions; 
  • Sustainable Forest Management: the company modernized its forest management and fiber procurement requirements through a new corporate-wide policy; 
  • Environment: West Fraser began engaging in the process to become an early adopter of the Taskforce on Nature-related Financial Disclosure (TNFD). This membership was announced in January 2024; 
  • Safety: safety remained the primary operational focus for West Fraser, with 2023 marking the lowest rate of serious injuries in the company’s history. The company maintained a strong commitment to ensuring all employees return home safely each day; 
  • Indigenous Relations: progress continued towards achieving Progressive Aboriginal Relations Gold-level certification by 2030. The company has developed new, innovative partnerships with Indigenous Nations, which are expected to be formalized in 2024; 
  • Governance: several new policies were introduced in the past year, including a Supply Chain and Human Rights Policy and a Supplier Code of Conduct. These policies aimed to align contractors with West Fraser’s values and commitment to business ethics and human rights. 
Source
West Fraser
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