Forest Products Counteract Climate Change on Two Fronts
It’s important to understand that the nature of the forestry industry makes it an essential player in addressing our changing climate.
On one hand, forest products can replace the use of more carbon-intensive building products like concrete and steel as well as fossil-fuel based products like plastic found in food and beverage containers, straws and shopping bags. On the other hand, harvested forests are subsequently replenished with younger, healthier trees that absorb carbon at a faster rate from the atmosphere than older ones.
This means sustainably managed forests fight climate change while they’re growing and then continue to hold carbon as the wood products they come for as long as they are in use.
Our Goal: We will become a net-zero carbon company by 2050 through advancing climate-positive forest management, producing sustainable forest products and developing impactful partnerships.
What we’re working towards:
Reduce
Absolute scope 1 and 2 GHG emissions by 42% by 2030, from a 2020 baseline year
Measure
Our scope 3 emissions and establish a science-based reduction target by 2024
The Role of Our Forests in Addressing Climate Change
Well-managed forests can help manage environmental risks such as the increased frequency and intensity of wildfires, flooding, insect infestations and extreme weather events.
Our Decarbonization Timeline
2020
Canfor identifies Climate Change as a material topic in refreshed sustainability strategy
Oct 2021
For the first time, disclose a comprehensive 2019 and 2020 GHG Inventory
April 2022
Announce our Climate Change goal and targets
May 2023
Obtained limited assurance over our 2020 and 2022 Scope 1 & 2 GHG Inventories
April 2024
Validate science-based (SBTi) target for scope 3
2030
Reduce Scope 1 & 2 GHG emissions by 42% from 2020 baseline
Decarbonization Abatement Strategies
As part of our decarbonization pathways work, we identified five ways to reduce our scope 1 and 2 emissions.
Energy & Process Efficiency
Implementing strategies and technologies to improve energy and fuel efficiency in existing infrastructure and vehicles.
Fuel Switching
Switching from higher-emission fuels to lower-emission fuels such as biofuels, biodiesel, renewable natural gas, hydrogen and biomass.
Electrification
Electrification of vehicles and stationary mobile equipment.
Investing in Renewables
Producing or procuring electricity from renewable sources.
Other Innovative Technologies
Continuing to investigate and invest in emerging technologies and solutions that will help us reduce emissions in the long term, such as carbon capture, utilization and storage; hydrogen fuel; and direct air capture.
The Carbon Benefits of Mass Timber
As builders and architects look to decrease the carbon footprint of new structures, mass timber is becoming an increasingly more attractive option. Filled with carbon-storing timber beams with the strength of steel, mass timber buildings are strong, resilient, beautiful and climate-friendly.
*For sources see page 80 of full report
Mass timber can be completed 25% faster than conventional buildings
A 100,000-square-foot wooden building holds as much carbon as the equivalent of taking 1,400 cars off the road in one year
Wooden buildings require less energy to heat and cool
Substituting wood for concrete and steel cuts GHG emissions by an average of 60%
Canfor’s wood in mass timber projects is certified under SFI or FSC Forest Management Standards in Canada, and SFI Fiber Sourcing Standard in the U.S.
Wood is the only readily available, renewable building material that we have