Resolute Forest Products Issues 2012 Annual Report Including Overview of 2012 Sustainability Performance
MONTREAL, March 25, 2013 /PRNewswire/ - Resolute Forest Products (NYSE: RFP) (TSX: RFP) today issued its 2012 Annual Report, which includes an overview of the Company's 2012 sustainability performance. While Resolute will continue to produce its Annual Sustainability Report using Global Reporting Initiative (GRI) guidelines, the Company is now also integrating sustainability performance information into its annual financial disclosure.
"Resolute recognizes that focusing on sustainability is good business. Our decision to produce a report combining financial and sustainability performance demonstrates our commitment to balancing environmental, social and economic priorities," said Richard Garneau, President and Chief Executive Officer. "We work hard to integrate sustainability into the way we do business because we believe this approach brings value to our customers, our shareholders, our employees and the communities where we live and work."
In 2012, Resolute made important progress on several of its key sustainability commitments, including:
Carbon Management - As part of its membership in the World Wildlife Fund's Climate Savers program, Resolute committed to achieving a reduction in absolute greenhouse gas emissions of 65% below 2000 levels by 2015. In 2012, Resolute achieved a reduction of over 62% and is on track to meet its WWF commitment.
Fiber Sourcing - The Company obtained chain of custody certification at all of its North American pulp and paper mills and wood products facilities, to either Forest Stewardship Council® (FSC)®, Programme for the Endorsement of Forest Certification (PEFC) or Sustainable Forestry Initiative® (SFI®) standards.
Forest Certification - Resolute is at the forefront of fiber certification, with 100% of the woodlands managed by the Company certified to internationally recognized sustainable forest management standards. Resolute is progressing toward its commitment to add FSC certification to 80% of its managed woodlands by 2015, and as of press time for the report, the Company had reached 65% certification. In 2012, Resolute achieved the distinction of being the largest manager of FSC-certified forests in the world. Taken all together, the Company's FSC-certified forests cover an area larger than Greece.
Product Stewardship - The Company launched its AlignTM brand of eco-efficient, budget-friendly, high-performance papers, which are made using 50% less fiber and fewer chemicals than competitive papers. Depending on the grade, the carbon footprint for Align papers is 35% to 86% lower than for competitive papers.
First Nations - Resolute developed and published a formal policy on First Nations relations.
Health and Safety - The Company achieved a world-class Occupational Safety and Health Administration (OSHA) incident rate of 1.13, meeting Resolute's goal of 1.2 or below. For 2013, the Company is committed to further reducing the number of workplace injuries and has set an OSHA target of 1.0 or below.
While the 2012 Annual Report is Resolute's first report combining financial and sustainability performance, this is the Company's fourth year publishing sustainability-related performance data. More comprehensive data and details related to the Company's sustainability performance for 2012 will be included in its GRI-compliant Annual Sustainability Report to be released online later this year.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest products industry with a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products. The Company owns or operates over 40 pulp and paper mills and wood products facilities in the United States, Canada and South Korea, and power generation assets in Canada. Marketing its products in close to 90 countries, Resolute has third-party certified 100% of its managed woodlands to at least one of three internationally-recognized sustainable forest management standards, including 65% certified to the Forest Stewardship Council® (FSC®) 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 and other member companies of the Forest Products Association of Canada, as well as a number of environmental organizations, are partners in the Canadian Boreal Forest Agreement. The group works to identify solutions to conservation issues that meet the goal of balancing equally the three pillars of sustainability linked to human activities: environmental, social and economic. Resolute is also a member of the World Wildlife Fund's Climate Savers program, in which businesses establish ambitious targets to voluntarily reduce greenhouse gas emissions and work aggressively toward achieving them.
SOURCE Resolute Forest Products Inc.