Clearwater Paper Announces Science Based Targets Initiative Validation for Climate Targets

Rhea-AI Summary

Clearwater Paper Corporation's climate targets have been validated by the Science Based Target initiative (SBTi). The targets include reducing absolute Scope 1 and 2 greenhouse gas emissions by 29.1% and absolute Scope 3 GHG emissions by 25% by 2030.

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• Clearwater Paper Corporation's climate targets have been validated by the Science Based Target initiative (SBTi). These targets include reducing absolute Scope 1 and 2 greenhouse gas emissions by 29.1% and absolute Scope 3 GHG emissions by 25% by 2030.

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SPOKANE, Wash.--(BUSINESS WIRE)-- Clearwater Paper Corporation (NYSE: CLW) announced today that the Science Based Target initiative (SBTi) has validated the company’s climate targets. These targets include reducing absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 29.1 percent and absolute Scope 3 GHG emissions by 25 percent by 2030. The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. SBTi is focused on accelerating companies worldwide to halve emissions before 2030 and achieve net-zero emissions before 2050.

“By setting science-based targets, we are committing to taking steps to reduce our greenhouse gas emissions, which is crucial to mitigating the impacts of climate change,” said Steve Bowden, senior vice president and general manager of the pulp and paperboard division. “The SBTi goal-setting process helps to strengthen and unify our company’s overall commitment to reduce greenhouse gas (GHG) emissions, while SBTi’s validation of our goals gives our employees, customers, and communities confidence that we are being good stewards of our natural resources.”

The initiative is a collaboration between the Carbon Disclosure Process (CDP), the United Nations Global Compact, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

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.

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/20230508005698/en/

Investors contact:

Sloan Bohlen

Solebury Strategic Communications

509-344-5906

investorinfo@clearwaterpaper.com



Media contact:

Julia Angelen Joy

Clearwater Paper Corporation

509-344-5978

julia.joy@clearwaterpaper.com

Source: Clearwater Paper Corporation

FAQ

What is the Science Based Target initiative?

The Science Based Target initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science.

What are Clearwater Paper Corporation's climate targets?

Clearwater Paper Corporation's climate targets include reducing absolute Scope 1 and 2 greenhouse gas emissions by 29.1% and absolute Scope 3 GHG emissions by 25% by 2030.

What does the validation of Clearwater Paper Corporation's goals by SBTi mean?

The validation of Clearwater Paper Corporation's goals by SBTi gives employees, customers, and communities confidence that the company is being a good steward of natural resources.