PotlatchDeltic 2022 ESG Report: Our Pillars and Goals
Linking Mission to Strategy
We execute our mission through the lens of our ESG strategy. This guides how we view sustainability in our businesses and across our value chain.
OUR PILLARS AND GOALS
Our commitments to forest stewardship, the environment and the role of forests and wood products as a natural climate solution, Team Members and our communities, and to responsible governance can have a profound impact on our success in maximizing a range of values for our stakeholders. We recognize that these pillars are the foundation for our long-term success.
Sustainable and Healthy Forests: We are committed to healthy and sustainable forests through forest stewardship.
- Update our forest inventory regularly and maintain 100% Sustainable Forestry Initiative ® (SFI) or Forest Stewardship Council ® (FSC) certification of our timberlands.
- Follow 100% best management practices.
- Apply the results of research to continually improve our forest management and resource conservation practices.
Clean Water: We are focused on protecting water-related ecosystems.
- Conserve and protect streams and water.
Biodiversity and Wildlife: Our forest stewardship commitments include the responsibility to conserve wildlife species and their habitats.
- Conserve wildlife, biodiversity and at-risk species through management practices and participation in the Wildlife Conservation Initiative.
Conservation: We recognize that some lands should be conserved as forestland in perpetuity.
- Pursue conservation outcomes.
Environmental Footprint: We focus on responsible manufacturing and resource efficiency, emphasizing conservation and the use of renewable energy.
- Continue the goal of 100% compliance with environmental requirements and permitting.
- Reduce energy consumption at our manufacturing facilities by 10% by 2030.
- Achieve reusing, recycling, or repurposing 99% of what could have been waste from our operations by 2050.
- Utilize 95% biomass for thermal energy by 2050.
Carbon & Climate: We seek to maximize the benefits of working forests through providing solutions that help address the impacts of climate change.
- Disclose our net carbon removals and storage and GHG emissions.
- Reduce Scope 1 and Scope 2 GHG emissions by 42% and work with our value chain to reduce Scope 3 GHG emissions by 25% from a 2021 baseline by 2030.
- Partner with our electricity suppliers, resulting in a transition to renewable energy sources that supports our Scope 2 GHG emissions goal.
- Manage our timberlands to minimize fire risk and work collaboratively towards wildfire protection and response.
- Regularly analyze climate risks across our businesses.
- Support natural climate solutions policies and strategies and seek to grow carbon, wood products, solar, and forest bio-based market opportunities.
Diversity, Equity, Inclusion: We are committed to advancing, supporting, and preserving a culture of diversity, equity, and inclusion where every employee feels like their ideas and unique perspectives are heard and valued.
- Double the representation of women and minorities in Wood Products leadership roles from 2022 levels by 2030.
- Partner with Native nations on environmental and community initiatives.
Hiring and Retention: We work to attract talent for our existing and future workforce.
- Support policies promoting the growth of skilled labor and collaborate with trade schools to create curriculums that actively support the development of our Team Members in skilled labor positions.
- Implement benefit strategies designed to ensure that all Team Members have equitable access to care.
Safety: Our Team Members are our greatest asset, and we focus on their health and safety without compromise.
- Achieve and maintain VPP or state equivalent status at all our wood products facilities by 2030.
- Achieve annual TCIR and DART metrics below our industry peers with demonstrated year-over-year improvement to build a safety culture that results in zero OSHA recordable incidents.
Training and Development: We are focused on building a highly skilled workforce.
- Foster the growth of employee resource groups, mentorships, allyships, and advocates who help deliver equitable career growth outcomes for all Team Members.
Community Engagement: We strive to support the communities where we work, live, and play.
- Provide charitable contributions that impact our local communities and encourage Team Members to volunteer.
Governance: We are focused on economic contribution and operational excellence. Strong environmental, social, and governance practices, ESG transparency, and risk management are essential to delivering sustainable results.
- Aspire to achieve 40% diversity in Board representation by 2030.
- Uphold our Corporate Conduct and Ethics Code, train our employees on ethics and integrity, and promote business integrity across our value chain.
- Respect and promote human rights and uphold our Supplier Code of Conduct.
- Maintain Board and committee oversight of ESG, regularly report on ESG, continue to embed ESG in goals and decisions, and expand ESG training.
- Complete annual enterprise risk management process with 100% of management team, including identification, mitigation, ranking, and incorporating ESG risks.
- Advance effective cyber defense programs to protect information and systems.
Supply Chain: Responsible sourcing is a key component of our strategy.
- Work with our contractors and suppliers on advancing ESG metrics.
- Ensure that 100% of fiber sourced at wood products facilities is purchased from certified land or certified to another wood fiber standard.
- Actively participate in organizations that promote standards and building codes to support building with wood products.
This release contains certain forward-looking statements within the meaning of the federal securities laws. Words such as “advance,” “aspire,” “goal,” “maintain,” “promote,” “seek,” “strive,” “support,” and similar expressions and references to achievement of objectives by a future date are intended to identify such forward-looking statements. These statements reflect management’s views of future events based on estimates and assumptions and are therefore subject to known and unknown risks, uncertainties, and other factors, and are not guarantees of future conduct, results, or policies. Please view the Cautionary Statement Regarding Forward-Looking Information on page 134 of PotlatchDeltic’s 2022 ESG Report.