Clearwater Paper Announces Achievements in Its 2023 Sustainability Report

Rhea-AI Summary

Clearwater Paper Corporation (NYSE: CLW) has released its 2023 Sustainability Report, outlining its new strategic sustainability framework, Everyday Responsibility. The report highlights the company's progress in emissions reductions, resource conservation, and inclusivity, diversity, and collaboration among its workforce.

Positive

• Validating emissions targets with the Science Based Targets initiative (SBTi)
• Commercializing NuVo® with BioPBS™, a compostable cup stock
• Significant strides in fostering inclusivity, diversity, and collaboration among the workforce
• 26% reduction in safety risk through proactive safety controls
• Conducting a new materiality assessment for future priorities and initiatives

Negative

• None.

SPOKANE, Wash.--(BUSINESS WIRE)-- Clearwater Paper Corporation (NYSE: CLW) has released its 2023 Sustainability Report, an annual update on the company’s progress against its multi-year sustainability goals. The report also announces Clearwater Paper’s new strategic sustainability framework, Everyday Responsibility. This forward-looking strategy centers the company’s sustainability work and initiatives on three distinct pillars: Resource Stewardship, Trusted Products, and Thriving People and Communities.

“Our new strategic sustainability framework reflects our unwavering commitment to Everyday Responsibility, which aligns with Clearwater Paper’s core values, sustainability goals and business objectives,” said Arsen Kitch, president and chief executive officer. “It serves to guide our present and future actions and helps us communicate with our stakeholders more effectively. Together, we will continue to be a company that customers are excited to partner with, our employees are proud to work for and that our communities can count on.”

In 2022, the company introduced multi-year goals around emissions reductions, resource conservation and company representation. This year’s report, covering the calendar year 2022, shares progress the company has made to date as well as impactful stories from within the company that exemplify Clearwater Paper’s commitment to Everyday Responsibility. Key highlights include:

• Strengthening our commitment to greenhouse gas (GHG) reductions by validating our Scope 1 & 2 and Scope 3 emissions targets with the Science Based Targets initiative (SBTi).
• Successfully commercializing NuVo^® with BioPBS™, a revolutionary cup stock that combines a compostable barrier with a high-definition print surface — the latest example of a Clearwater Paper product that meets the highest quality standards, yet leaves a smaller environmental footprint.
• Making significant strides in fostering inclusivity, diversity and collaboration among our people, including increasing underrepresented groups in our workforce, enhancing policies and benefits and supporting employee well-being and engagement.
• Reducing safety risk by 26% by implementing proactive safety controls and maintaining a safety-first culture.
• Conducting a new materiality assessment that provides valuable insights to pave the way for future priorities, goals and initiatives.

View Clearwater Paper’s 2023 Sustainability Report here.

ABOUT CLEARWATER PAPER

Clearwater Paper is a premier supplier of private brand tissue to major retailers, including grocery, club, mass merchants, and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters, and offers services that include custom sheeting, slitting, and cutting. Clearwater Paper's employees build shareholder value by developing strong relationships through quality and service.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding sustainability strategies, commitments and goals; customers; business objectives; GHG reduction; product quality, attributes and development; employees; culture, inclusion and diversity; and safety. These forward-looking statements are based on current expectations that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include those risks and uncertainties described from time to time in the company's public filings with the Securities and Exchange Commission. The company does not undertake to update any forward-looking statements based on new developments or changes to the company’s expectations.

For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231204968598/en/

Investors contact:

Sloan Bohlen

Solebury Strategic Communications

509.344.5906

investorinfo@clearwaterpaper.com

Media contact:

Julia Joy

Clearwater Paper Corporation

509.344.5953

julia.joy@clearwaterpaper.com

Source: Clearwater Paper Corporation

FAQ

What is Clearwater Paper Corporation's ticker symbol?

The ticker symbol for Clearwater Paper Corporation is CLW on the New York Stock Exchange (NYSE).

What are the key highlights of Clearwater Paper Corporation's 2023 Sustainability Report?

The key highlights include validating emissions targets with the Science Based Targets initiative, commercializing compostable cup stock, fostering inclusivity and diversity, reducing safety risk, and conducting a new materiality assessment for future priorities and initiatives.

Where can I view Clearwater Paper Corporation's 2023 Sustainability Report?

You can view Clearwater Paper Corporation's 2023 Sustainability Report on their official website or by visiting the following link: [insert link here].