MONTREAL, March 9, 2021 (CNW) -Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced its commitment to reduce absolute greenhouse gas (GHG) emissions (scope 1 and 2) by 30% against 2015 levels by 2025. This new target builds on the company's 83% reduction in absolute GHG emissions from year-2000 levels, two-thirds of which reflect reductions in emission intensity. By achieving its target, the company will have reduced its emissions by nearly 700,000 metric tons of CO2equivalents per year compared to its 2015 level.
"Resolute was an early adopter of climate action as a cornerstone of our sustainability strategy," said Remi G. Lalonde, president and chief executive officer. "Setting this new target is among my first actions as CEO, demonstrating our continued focus around this important issue. Our commitment to renewable energy is good for the environment and it's good for the bottom line. Three-quarters of our total energy needs come from renewable sources such as hydroelectricity and carbon-neutral biomass, and more than 80% of our fuel energy comes from biomass. We've been scope 1 coal-free since 2014."
Some of the more recent projects on which the company is relying to achieve its commitment include:
- an efficiency enhancement at the Saint-Félicien (Quebec) pulp mill to improve production capacity and reduce fossil-fuel use by up to 20%;
- a modernization of the cogeneration turbine at the Coosa Pines (Alabama) pulp mill to reduce purchased electricity use by 6%; and
- the installation of a sophisticated heat recovery unit at the Thunder Bay (Ontario) pulp and paper mill to recover waste heat and, as a result, decrease the use of fossil fuels by over 20%.
The company also announced commitments to:
- include the previously excluded wood products facilities' GHG emissions in its GHG inventory by 2022;
- continue to report climate change data and management practices to CDP's climate change program, including scope 1, 2 and 3 emissions; and
- further integrate sustainability practices in its supply chain by working with suppliers and related stakeholders to develop scope 3 GHG emission reduction commitments.
Resolute's sustainability strategy is based on a balanced approach to environmental, social and economic performance, designed to enhance the company's competitive position. As an industry leader, the company is committed to maintaining effective sustainability oversight, governance and management practices, and has moved beyond already rigorous regulatory compliance and environmental incident management to commit to transparency and annual sustainability reporting.
bout Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including market pulp, tissue, wood products and papers, which are marketed in over 50 countries. The company owns or operates some 40 facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified 100% of its managed woodlands to internationally recognized sustainable forest management standards. The shares of Resolute Forest Products trade under the stock symbol RFP on both the New York Stock Exchange and the Toronto Stock Exchange.
Resolute has received regional, North American and global recognition for its leadership in corporate social responsibility and sustainable development, as well as for its business practices. Visit www.resolutefp.com for more information.
To learn more about Resolute's climate initiatives, visitwww.resolutefp.com/Sustainability.