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Rayonier Releases Carbon Report Quantifying Its Net Positive Climate Impact
WILDLIGHT, Fla. (News release) -- Rayonier Inc. released its first Carbon Report detailing the positive net carbon impact generated by the Company's forestry operations. In 2019, Rayonier's timberland assets sequestered an estimated 5.7 million metric tons of CO2 equivalents from the atmosphere, net of carbon emitted through operations and carbon removed/transferred to customers through harvest activity. At year-end 2019, the Company's timberland assets stored an estimated 732 million metric tons of CO2 equivalents in total. The Company's Carbon Report provides a clear accounting of how Rayonier's sustainable forestry business is part of the solution for achieving net zero emissions globally.
This report is unique and comprehensive in quantifying the carbon impacts across the Company's forestry value chain, including: * Total carbon stored within Rayonier's timberland portfolio; * Carbon sequestered annually by the Company's forests; * Carbon emissions associated with the Company's direct and indirect forestry operations, including Scope 1, 2, and 3 emissions; * Carbon removed/transferred from the Company's forests to its customers through harvest activity; and * Carbon that remains stored in downstream solid wood products produced from the Company's timber. "As a company whose core business is maintaining healthy ecosystems that support both sustainable forestry and its associated carbon sequestration benefits, we recognize the importance of protecting the climate and our natural environment," said David Nunes, President and CEO. "Rayonier's business model provides a natural climate change solution: our trees remove carbon from the atmosphere during their growth cycle, and after harvesting, a significant portion of this carbon remains stored for an extended period of time within downstream wood products. Our inaugural Carbon Report demonstrates the important role that working forests play in fighting climate change." "This report reflects our unwavering focus on improving our sustainability reporting, as well as our long-standing commitment to best-in-class disclosure and transparency. Today marks the next step in our commitment to protect the planet by capitalizing on our unique ability to drive positive climate impacts. We will continue to ensure that we are part of the global solution to addressing climate change, and we look forward to further engagement on this topic with our shareholders and other stakeholders going forward." The Carbon Report, as well as Rayonier's Social and Environmental Reports, can be found on its Responsible Stewardship web page: (https://www.rayonier.com/sustainability/responsible-stewardship).
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