Canfor

Canfor's reported carbon emissions

**Canfor's Climate Commitments and Emissions Performance** Canfor, a Canadian company operating in the wood and wood products industry, has outlined significant commitments to address climate change. The company aims to become a net-zero carbon entity by 2050, driven by climate-smart forest management, sustainable product development, and strategic partnerships. **Emissions Data (kg CO2e)** * **2024:** Canfor reported a total of approximately 4.7 billion kg CO2e. This figure is comprised of: * Scope 1: Approximately 542.1 million kg CO2e. * Scope 2 (Market-based): Approximately 125.5 million kg CO2e. * Scope 3: Approximately 3.66 billion kg CO2e, with the largest contributions from the end-of-life treatment of sold products (approximately 1.29 billion kg CO2e) and the processing of sold products (approximately 1.14 billion kg CO2e). * **2023:** Total emissions for 2023 were approximately 766.5 million kg CO2e (Scope 1 + Scope 2 market-based). Scope 3 data was not reported for this year. * **2022:** Total reported emissions amounted to approximately 851.5 million kg CO2e (Scope 1 + Scope 2 market-based). Scope 3 emissions were approximately 4.91 billion kg CO2e, with significant contributions from the end-of-life treatment of sold products (approximately 2.11 billion kg CO2e) and processing of sold products (approximately 1.52 billion kg CO2e). * **2021:** Scope 1 and 2 emissions (market-based) were approximately 819.3 million kg CO2e. Scope 3 data was not reported for this year. * **2020:** Scope 1 and 2 emissions (market-based) totalled approximately 738.3 million kg CO2e. **Climate Targets and Initiatives** Canfor has set ambitious targets to align with climate goals: * **Near-Term:** A commitment to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 42% by 2030, using a 2020 baseline year. Additionally, Canfor aims to reduce absolute Scope 3 GHG emissions by 25% by 2030, with a 2022 baseline year. This Scope 3 target specifically covers purchased goods and services, fuel and energy-related activities, upstream transportation and distribution, processing of sold products, and end-of-life treatment of sold products. * **Long-Term:** The overarching goal is to achieve net-zero GHG emissions across the value chain by 2050. Canfor also has long-term targets to reduce absolute Scope 1 and 2 GHG emissions by 90% by 2050 (from a 2020 baseline) and absolute Scope 3 GHG emissions by 90% by 2050 (from a 2022 baseline). These targets have been validated by the Science Based Targets initiative (SBTi) as being consistent with limiting warming to 1.5°C. The company also commits to maintaining no deforestation across its primary deforestation-linked commodities.