Rayonier 2022 Sustainability Report: Climate Change

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Rhea-AI Summary

Rayonier acknowledges the risks and opportunities posed by climate change to their business. They believe that implementing climate smart forestry strategies will help mitigate the impacts of climate change. They assess transition risks and develop mitigation plans accordingly. They also monitor weather trends and acute weather events to assess potential business impacts.

Positive

Rayonier is committed to sustainable forest management and adapting to climate change risks.
Implementing climate smart forestry strategies will position Rayonier to mitigate climate change impacts in the future.

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09/26/2023 - 09:30 AM

NORTHAMPTON, MA / ACCESSWIRE / September 26, 2023 / Rayonier

Risks and Opportunities

Climate change is affecting forest ecosystems worldwide, causing shifts in the distribution, abundance, productivity, and health of forests. Our commitment to sustainable forest management requires that we understand both the risks and opportunities posed by climate change to our business, the ecosystems we manage, and society in general.

Our internal research team evaluates climate change at both a global and regional level in an effort to assess the potential long-term impacts on the health and productivity of our working forests, as well as to develop adaptation strategies.

We believe that traditional forest management practices will need to adapt to the climate conditions that will exist in the future as we strive to maintain productive, healthy, and sustainable forests. By implementing climate smart forestry-strategies and practices designed to manage climate change risks-we expect that Rayonier will be better positioned to mitigate the impacts of climate change in the coming decades. This approach requires research, innovation, and flexibility as new risks and opportunities emerge. In developing our climate smart forestry practices, we leverage our in-house expertise, as well as research conducted by external cooperative programs in site classification, forest health, genetics, silviculture, and biometrics.

We assess transition risks to determine potential financial impacts to our operations, and we incorporate these considerations into our strategic decision-making. Our physical risks are assessed in the short-term (2021-2040), medium-term (2041-2060), and long-term (2061-2100) to identify where our timberlands may be exposed, and we develop mitigation plans accordingly. We also monitor weather trends and acute weather events in each of our operating areas in order to assess the potential business impacts and to develop appropriate response plans.

Click here to view Rayonier's Climate Change Impact report, which summarizes the current state of the climate and identifies key principles that will guide the development of our forestry practices as new risks and opportunities emerge, which will require continuous research, innovation, and flexibility.

To learn more, view the full Rayonier 2022 Sustainability Report.

View additional multimedia and more ESG storytelling from Rayonier on 3blmedia.com.