PotlatchDeltic Releases 2023 Corporate Responsibility Report

Rhea-AI Summary

PotlatchDeltic released its 2023 Corporate Responsibility Report, highlighting achievements across four key pillars: Forests, Planet, People, and Performance. The report is aligned with the United Nations Sustainable Development Goals. Key accomplishments include planting nearly 30 million seedlings, protecting 8,311 miles of rivers and streams, and achieving net carbon removals of 6.4 million metric tons of CO2e. The company reduced energy usage in wood product facilities by 2.5% and maintained outstanding safety performance. Additionally, PotlatchDeltic linked short-term incentive compensation to corporate responsibility objectives and continued to explore climate-related policies, solar projects, and carbon offset initiatives. The full report is available on their website.

Positive

• Planted nearly 30 million seedlings.
• Protected 8,311 miles of rivers and streams.
• Third-party certified 100% of forestry practices and wood product procurement.
• Achieved net carbon removals of 6.4 million metric tons of CO2e.
• Reduced energy usage in wood product facilities by 2.5% compared to 2022.
• Outstanding safety performance with low incident and severity rates.
• Launched an employee resource group for Veterans.
• Linked 2023 short-term incentive compensation to corporate responsibility objectives.
• Completed a physical climate scenario analysis on Southeast timberlands and Lake States procurement region.
• Worked with developers on solar projects and commenced a carbon offset project.

Negative

• Inventory adjustment added 5.2 million metric tons of CO2e to net carbon removals, potentially indicating previous underestimation.
• Reduced energy usage by only 2.5%, which may be seen as modest.

SPOKANE, Wash.--(BUSINESS WIRE)-- PotlatchDeltic Corporation (Nasdaq: PCH) today released its 2023 Corporate Responsibility Report. The Report highlights PotlatchDeltic’s 2023 corporate responsibility accomplishments, linking them with the United Nations Sustainable Development Goals.

“We are proud of the continued momentum we are seeing surrounding our corporate responsibility goals and initiatives,” said Eric Cremers, president and chief executive officer. “Our 2023 Corporate Responsibility Report and the expanded corporate responsibility section of our website illustrate only some of the accomplishments we have made in our four pillars - Forests, Planet, People, and Performance. In addition, we continue to work to meet our greenhouse gas reduction commitments, respond to new challenges surrounding supply chain transparency, and expand our biodiversity disclosures. At the same time, we are pursuing opportunities that utilize working forests as part of the solution to climate change,” stated Mr. Cremers.

PotlatchDeltic’s 2023 corporate responsibility accomplishments include:

• Planted nearly 30 million seedlings, protected 8,311 miles of rivers and streams, and third-party certified 100% of our forestry practices and wood products procurement.
• Achieved net carbon removals from our forests of 6.4 million metric tons of CO₂e including an inventory adjustment that added 5.2 million metric tons of CO₂e.
• Participated in rural land sales with a conservation outcome.
• Reduced energy usage across our wood products facilities by an average of 2.5% from 2022 levels.
• Achieved outstanding safety performance with low incident and severity rates.
• Launched an employee resource group for Veterans.
• Linked 2023 short-term incentive compensation to achievement of key corporate responsibility objectives to provide a more holistic assessment of performance against the Company’s corporate responsibility and operational goals.
• Completed a physical climate scenario analysis on our Southeast timberlands and our Lake States procurement region.
• Continued to work on climate-related policy initiatives surrounding forests and wood products.
• Worked with developers on solar projects, commenced work on a carbon offset project, and evaluated other opportunities for natural climate solutions.

PotlatchDeltic’s corporate responsibility reporting is informed by or referencing frameworks such as the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), United Nations Sustainable Development Goals (UN SDGs), and Global Reporting Initiative (GRI). The Report can be found in the investor relations and the corporate responsibility sections of the Company’s website at www.potlatchdeltic.com and is supported by additional information and data on our website or in our other published reports.

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 practices, is committed to corporate responsibility. More information can be found at www.potlatchdeltic.com.

Cautionary Statement Regarding Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Words such as “commitment,” “continue,” “initiative,” “goal,” “objective,” “opportunity,” and similar expressions are intended to identify such forward-looking statements. Statements and assumptions with respect to initiatives, commitments, objectives, goals and opportunities and anticipated actions related thereto are also examples of forward-looking statements and are not guarantees of future conduct or policy. The actual conduct of our activities, including the development, implementation or continuation of any program, project, policy or initiative may differ materially in the future. Actual results could differ materially from our historical results or those expressed or implied by forward-looking statements contained in this press release due to factors such as: changes in our priorities as well as changes in the priorities of our customers and suppliers; the accuracy of our estimates and assumptions; acquisitions and divestitures; the future effect of legislation, rulemaking and changes in policy or best management practices; natural or human causes beyond the Company’s control; our ability to meet our corporate responsibility goals and commitments and succeed with our initiatives and projects, including our solar and carbon offset projects; the availability of funding for our initiatives and projects; and global economic, business, political, and climate conditions. These are only some of the factors that may affect the forward-looking statements contained in this press release. For further information regarding risks and uncertainties associated with our business, please refer to our U.S. Securities and Exchange Commission (SEC) filings, including our Annual Report on Form 10-K for the year ended December 31, 2023, our 2024 Proxy Statement, and our 2024 Quarterly Reports on Form 10-Q, which can be obtained at the Company’s website, www.potlatchdeltic.com. The forward-looking statements in this press release are intended to be subject to the safe harbor protection provided by federal securities laws. Except as required under applicable law, we do not intend to issue updates concerning any future revisions of our views to reflect events or circumstances occurring after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240530707788/en/

(Investors)

Wayne Wasechek

509-835-1521

(Media)

Anna Torma

509-835-1558

Source: PotlatchDeltic Corporation

FAQ

What are the key achievements of PotlatchDeltic in their 2023 Corporate Responsibility Report?

PotlatchDeltic planted nearly 30 million seedlings, protected 8,311 miles of rivers and streams, and achieved net carbon removals of 6.4 million metric tons of CO2e.

How much did PotlatchDeltic reduce energy usage in their wood product facilities in 2023?

PotlatchDeltic reduced energy usage across their wood product facilities by 2.5% from 2022 levels.

What safety performance did PotlatchDeltic achieve in 2023?

PotlatchDeltic achieved outstanding safety performance with low incident and severity rates.

What new employee initiative did PotlatchDeltic launch in 2023?

PotlatchDeltic launched an employee resource group for Veterans in 2023.

How is PotlatchDeltic addressing climate change in their 2023 report?

PotlatchDeltic is exploring climate-related policies, working on solar projects, and has commenced a carbon offset project.