ATLANTA, Nov. 8, 2021 /PRNewswire/ -- CatchMark Timber Trust, Inc. (NYSE: CTT) today released its 2020 Carbon Report, a detailed analysis of carbon storage, carbon sequestration, and emissions determining the overall net carbon impacts from its timberland operations in the U.S. South. According to the report, the company sequestered nearly 1.9 million metric tons of CO2 and realized an estimated positive net carbon impact of approximately 1.2 million metric tons of CO2 in 2020.
Brian M. Davis, CatchMark's President and CEO, said: "Sustainability and environmental stewardship have always been a key part of CatchMark's strategy. We are pleased to recognize that our timberlands in the U.S. South have realized a substantial positive net carbon impact. We know that our timberlands, and subsequent end-uses of our timber, can play an important role in mitigating climate change – trees, through photosynthesis, absorb carbon and other pollutants, then produce pure oxygen into the atmosphere which helps counteract climate change."
The summary below defines the amount of carbon sequestered by CatchMark's forests and by harvest converted into product after incorporating the company emissions and the carbon emitted through harvest. This is defined as Net Carbon Impact.
A positive Net Carbon Impact means that forest lands and products post-harvest are removing more CO2 from the atmosphere than emissions from forest harvesting activities, helping combat climate change.
2020 Net Carbon Impact1, 2(MtCO2e/year)
Carbon Sequestered by Forests3
Carbon Sequestered by Harvest Converted to Product3, 4
TOTAL Carbon Sequestered
Carbon Emissions Through Forest Management
Carbon Emitted Through Harvest5
Total Net Carbon Sequestered
The report3 includes estimates of:
Total carbon stored by CatchMark's U.S. South timberlands
Net carbon impact of forestry and corporate activities
Carbon sequestered by timberlands
Emissions related to its business (Scope 1, 2 and 3)
Carbon emitted through harvest activity
Carbon storage within forest products (harvest converted to product)
Carbon storage within forest products over multiple harvest cycles
Davis added: "CatchMark is always looking for ways to improve our sustainable practices across operations to produce beneficial results for our stakeholders – stockholders, partners, employees and neighbors. We are also moving forward with the value realization of our environmental initiatives — like carbon sequestration — capitalizing on the increasing demand to meet climate challenges and serving as a potentially viable pathway to net zero to meet climate goals that regulators, investors and consumers are asking of companies."
CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 370,100 acres* of timberlands located in Alabama, Georgia and South Carolina. For more information, visit www.catchmark.com.
* As of October 15, 2021
CatchMark's 2020 Carbon Report focuses on the acres owned in the U.S. South as of 12/31/2020 and does not include the any acreage in the Pacific Northwest or interests in property held through joint ventures, all of which have been sold as of the date of this report.
All values were calculated to determine metric tons of Carbon and multiplied by the factor of 3.667 (International Panel of Climate Change (2006). Guidelines for National Greenhouse Gas Inventories. Vol. 4. Agriculture, Forestry and Other Land Use) to convert to metric tons of carbon dioxide equivalents (MtCO2e)
International Panel of Climate Change (2006). Guidelines for National Greenhouse Gas Inventories. Vol. 4. Agriculture, Forestry and Other Land Use) to convert to metric tons of carbon dioxide equivalents (MtCO2e)
Carbon stored in forest products was calculated from harvest depletion data obtained from CTT, utilizing the i-Tree Harvest Carbon Calculator online https://harvest.itreetools.org/
Calculated based on CatchMark's 382,554.55 acres of CTT forest land within the U.S., including Georgia, Alabama, Florida, and South Carolina. Areas reported are net acres and do not include non-productive stands.