Building on 120 years of expertise in sustainable forestry, we are always looking to innovate and improve our sustainability practices and leadership — in the woods and across our business.
In 2010, we formalized our sustainability strategy by mapping out a comprehensive set of commitments and goals, and we made great strides in each area over the past decade. Across the board, we built a solid foundation of sustainability actions and expectations.
In 2020, as we look toward the next decade and beyond, we’ve reorganized our strategy around three core areas: maintaining our strong foundation of ESG (environmental, social and governance) activities, goals and progress; strengthening the integration of sustainability into processes and priorities of our businesses; and demonstrating the positive impacts of our work.
The first two categories are largely focused on continuous improvement for processes we already have in place. The third represents three big challenges in the world that our company is in a unique position to help solve, and the recognition that tackling these challenges will require contributions and solutions from everyone, including us, over the next decade.
MaintainING Our ESG Foundation
We have spent decades delivering solid results in environmental stewardship, social responsibility and strong governance. To maintain those results and drive continued excellence in these areas, we developed an ESG roadmap that will ensure we review our ESG strategies on a consistent schedule, set and meet appropriate annual goals, and adjust as needed. Topics covered by our ESG roadmap include forest certification; environmental compliance; workplace safety; people development; diversity, inclusion and equity; community engagement; and enterprise risk management. We will continue to report our progress in these areas annually in our GRI data report.
IMPROVING BUSINESS ALIGNMENT
Because practicing sustainable forestry is so fundamental to our business model, many employees at Weyerhaeuser immediately associate sustainability with all the work we do to replant trees, protect fish and wildlife habitat, and certify our forests. This is understandable given the kind of company we are.
But sustainability is so much more than what we do in our forests. To help all our employees see how their work contributes to our sustainability goals, we are strengthening its visibility in all our critical business processes, including roadmaps, performance plans and capital plans. By integrating clear sustainability metrics and language into these processes, we strengthen not only awareness and pride among employees, but also our ability to identify opportunities, mitigate risk and more accurately report our overall sustainability performance.
Business Alignment Example
Identify the sustainability benefits of certain margin-improvement initiatives, such as reducing transportation costs, which also reduces the use of fossil fuels.
Energy & Natural Resources
Business Alignment Example
Recognize and track the sustainability benefits of our emerging wind and solar renewable energy business.
Business Alignment Example
Identify and track investment in capital projects that have sustainability benefits, such as improved energy efficiency through equipment upgrades.
DEMONSTRATING POSITIVE IMPACT
We recognize that citizens expect businesses to do more than provide jobs, pay taxes, operate ethically and minimize environmental impact. More and more, people are looking to businesses to help solve some of the world’s toughest challenges. We agree, and to demonstrate we take this responsibility seriously, we’ve identified three positive impact areas where we believe we can make a difference over the next 10 years.
First, we know our forests and wood products have an important role to play in mitigating climate change by absorbing CO2 from the atmosphere and storing carbon in wood.
Third, because of where we operate, we have a powerful opportunity to help rural communities across North America remain thriving places to live and work.
These are our 3 by 30 Sustainability Ambitions — three big challenges facing the world that our company can help solve, and our commitment is to make tangible progress in each area by 2030. We know we can’t solve these challenges alone, but we also know our vast forests and the essential products we make put us in a unique position to move the dial and make a real difference.
HOW DO WE MAKE SURE WE STAY ON TRACK?
Our senior leadership team sets our strategy and keeps us focused on the most critical opportunities. This strategy is supported by cross-functional staff and business leaders who identify opportunities, risks and external trends, and provide recommendations to ensure optimal performance. Our sustainability team provides structure and guidance for implementing our strategy, ensuring internal and external engagement, and reporting on our progress. Our board of directors' Governance and Corporate Responsibility Committee provides oversight and direction on the company’s sustainability strategy. The committee annually reviews our sustainability performance and progress toward goals, our response to climate change, key opportunities and trends.
We measure success in two ways:
First, we set goals in all three strategy areas (ESG Foundation, Business Alignment, and 3 by 30 Positive Impact Areas), and track our progress against achieving those goals.
Second, we measure stakeholder satisfaction with our progress using several tools, including customer, employee and reputation surveys; placement on key sustainability indices; and third-party recognition and rankings.