Weyerhaeuser Announces Habitat for Humanity Innovation Challenge

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) announced the Habitat for Humanity Innovation Challenge to encourage new and creative home-building solutions using sustainable wood products. Six U.S.-based Habitat affiliates will receive $15,000 each to implement innovative uses of wood products that increase equitable access to affordable homes. The challenge aims to support communities by creating greater access to affordable and sustainable homes, leveraging the natural benefits of wood products.

Six U.S. Habitat affiliates to participate in a design and build challenge using sustainable wood products that increase access to affordable, high-quality homes

SEATTLE, Jan. 17, 2024 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced the Habitat for Humanity Innovation Challenge to encourage new and creative home-building solutions using sustainable wood products. The challenge will task six U.S.-based Habitat affiliates with designing innovative uses of wood products that increase equitable access to affordable homes and demonstrate sustainability or resiliency. Each selected affiliate will receive $15,000 from Weyerhaeuser to implement the design idea.

Weyerhaeuser and Habitat are longtime partners with a shared commitment to supporting communities by creating greater access to affordable and sustainable homes. A key component of the innovation challenge is the design and implementation of ideas in the built environment.

"Wood is the most sustainable, versatile and cost-effective building material in the world," said Devin W. Stockfish, president and chief executive officer. "We're excited to work with our partners at Habitat to support innovative design and build solutions that leverage the natural benefits of wood products and encourage new ways of meeting today's most pressing housing needs."

Examples of areas where teams might choose to innovate include offsite construction, construction methods, use of wood waste or disaster preparedness.

"Habitat's vision of a world where everyone has a decent place to live cannot be achieved alone," said Tolli Love, chief development officer at Habitat for Humanity International. "We're grateful that Weyerhaeuser shares Habitat's commitment, and we look forward to more families living in safe and affordable homes as a result of this partnership."

Habitat affiliates selected to participate in the challenge include:

• Habitat for Humanity Tucson (Tucson, Arizona)
• Habitat for Humanity of the Northern Flint Hills (Manhattan, Kansas)
• New Orleans Area Habitat for Humanity (New Orleans, Louisiana)
• Genesee County Habitat for Humanity (Flint, Michigan)
• Central Minnesota Habitat for Humanity (St. Cloud, Minnesota)
• Habitat for Humanity Sanford Area (Sanford, North Carolina)

Ensuring everyone has access to a quality, sustainably built home is one Weyerhaeuser's 3 by 30 Sustainability Ambitions, and the company is working with partners like Habitat for Humanity, applying its deep industry knowledge and leveraging its supply chain expertise to increase the overall availability of quality housing in North America.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in North America. Our company is a real estate investment trust. In 2022, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company

FAQ

What is the purpose of the Habitat for Humanity Innovation Challenge announced by Weyerhaeuser Company?

The purpose is to encourage new and creative home-building solutions using sustainable wood products.

How many U.S.-based Habitat affiliates will participate in the challenge?

Six U.S.-based Habitat affiliates will participate.

What will the selected Habitat affiliates receive to implement their design idea?

Each selected affiliate will receive $15,000 from Weyerhaeuser.

What are some examples of areas where teams might choose to innovate in the challenge?

Examples include offsite construction, construction methods, use of wood waste, or disaster preparedness.

What is the goal of the challenge?

The goal is to increase equitable access to affordable homes and demonstrate sustainability or resiliency using wood products.

What are Weyerhaeuser's 3 by 30 Sustainability Ambitions?

One of the ambitions is to ensure everyone has access to a quality, sustainably built home, and the company is working with partners like Habitat for Humanity to achieve this goal.