PotlatchDeltic Commits to GHG Reduction Targets

Rhea-AI Summary

PotlatchDeltic Corporation (Nasdaq: PCH) announced a significant commitment to sustainability by establishing a 2030 greenhouse gas (GHG) emissions reduction target of 42% for Scope 1 and Scope 2 emissions, alongside a 25% target for Scope 3 emissions based on a 2021 baseline. This initiative aligns with the Science Based Targets Initiative (SBTi) to limit global temperature increases. The company also aims for net-zero GHG emissions by 2050. These efforts reflect PotlatchDeltic's commitment to environmental responsibility and sustainable forest management.

Positive

• Established 2030 GHG emissions reduction target of 42% for Scope 1 and Scope 2 emissions.
• Set Scope 3 emissions reduction target of 25% based on a 2021 baseline.
• Commitment towards achieving net-zero GHG emissions by 2050.

Negative

• None.

SPOKANE, Wash.--(BUSINESS WIRE)-- PotlatchDeltic Corporation (Nasdaq: PCH) today announced it has established a 2030 greenhouse gas (GHG) emissions reduction target for Scope 1 and Scope 2 emissions of 42 percent and a Scope 3 value chain GHG emissions reduction target of 25 percent from a 2021 baseline. The targets are in accordance with the non-FLAG Science Based Targets Initiative (SBTi) to keep global temperature increases to less than 1.5°C compared to pre-industrial levels and a commitment letter will be submitted to SBTi for validation in 2023. Key components of the initiative include increased utilization of wood residuals, electrification of mobile equipment, energy efficiency efforts, the purchase of green power from electricity suppliers, and working with our value chain. The Company also committed to a goal to achieve net-zero GHG emissions by 2050, including the development of non-FLAG SBTi 2050 GHG reduction targets.

“Climate change is one of the greatest challenges and opportunities of our time and the reduction targets are an important milestone of our ESG strategy,” said Anna Torma, vice president public affairs and chief ESG officer. “Our carbon and climate teams continue to pursue GHG reduction opportunities, and we remain focused on the natural climate solutions that our timberlands and wood products can provide,” stated Ms. Torma.

About PotlatchDeltic

PotlatchDeltic (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi, and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to environmental and social responsibility and to responsible governance. More information can be found at www.potlatchdeltic.com.

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 without limitation, our expectations regarding our ability to achieve GHG emissions reduction opportunities already identified and to identify others, to meet our GHG emissions reduction and net-zero goals by the target dates, to establish non-FLAG SBTi 2050 targets, to receive validation of the GHG emissions reduction targets from SBTi, and similar matters. Words such as ”committed,” “development,” “will,” “goal,” “target,” “initiative,” “can,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on our current expectations and assumptions, the accuracy of which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the continued development of measurement standards, accounting protocols, and mitigation techniques; changes in our priorities as well as changes in the priorities of our customers and suppliers; the amount of our future investments; the accuracy of our estimates and assumptions; acquisitions and divestitures; the future effect of legislation, rulemaking and changes in policy or best management practices; scientific discoveries and technological innovations; the willingness of suppliers to adopt and comply with our programs; and the other factors described in PotlatchDeltic’s Annual Report on Form 10-K and in the company’s other filings with the SEC. PotlatchDeltic assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, all of which speak only as of the date hereof.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221228005318/en/

(Investors)

Jerry Richards

509.835.1521

(Media)

Anna Torma

509.835.1558

Source: PotlatchDeltic Corporation

FAQ

What are PotlatchDeltic's greenhouse gas reduction targets for 2030?

PotlatchDeltic aims for a 42% reduction in Scope 1 and Scope 2 emissions and a 25% reduction in Scope 3 emissions by 2030.

When will PotlatchDeltic submit its GHG emissions reduction targets for validation?

PotlatchDeltic plans to submit its commitment letter for validation to the Science Based Targets Initiative in 2023.

What is PotlatchDeltic's net-zero goal?

PotlatchDeltic is committed to achieving net-zero GHG emissions by 2050.

What is the baseline year for PotlatchDeltic's emissions reduction targets?

The baseline year for PotlatchDeltic's emissions reduction targets is 2021.

How does PotlatchDeltic plan to achieve its GHG emissions reduction targets?

The company plans to achieve its targets through increased utilization of wood residuals, electrification of mobile equipment, energy efficiency efforts, and purchasing green power.