Collaboration will highlight and advance the role of
climate-smart forestry in mitigating climate change
SEATTLE, Sept. 17,
2024 /PRNewswire/ -- Weyerhaeuser Company (NYSE:
WY) and The Nature Conservancy (TNC) today announced a multiyear
collaboration to further the scientific understanding of how
forests and forest products contribute to climate mitigation. The
joint effort brings together one of the world's largest private
owners of timberlands with one of the world's largest conservation
organizations to increase the positive impact of forests in
mitigating climate change.
TNC pioneered research quantifying nature's full ability to
absorb and store carbon and provide a scalable and readily
available opportunity to mitigate climate change. These natural
climate solutions can help protect, better manage and restore
forests and other ecosystems to reduce or absorb 11 billion metric
tons of greenhouse gases per year — up to one-third of what's
needed by 2030 to limit global warming to 1.5°C above
pre-industrial levels. Over 1 billion metric tons of that potential
could come from improved management of working forests.
"Working forests are one of the most readily available
opportunities we have right now for scaling the global response to
climate change," says Ara Erickson,
vice president of corporate sustainability at Weyerhaeuser. "We're
excited to be supporting TNC's important work and look forward to
collaborating on science-based initiatives that increase the
contributions of forests as natural climate solutions, while also
benefitting the environment and the people and communities who rely
on these ecosystems."
Over the next several years, Weyerhaeuser and TNC will
collaborate on forest research; implement standards and frameworks
for greenhouse gas accounting; support the development of improved
carbon project methodologies; and help shape strategies that
accelerate the adoption of climate-smart forestry practices
worldwide, including expansion and refinement of existing
forest-based climate solutions, and developing new programs that
incorporate a wider set of potential practices, geographies and
forest types.
"Businesses are essential stakeholders in creating a sustainable
future, and collaborations such as the one we're embarking on with
Weyerhaeuser provide important opportunities to expand research
possibilities and accelerate scientific progress," says
Peter Ellis, global director of NCS
science at TNC. "We're optimistic that our work together can be an
example of how different stakeholders can come together to identify
best practices, harness evolving solutions and protect the natural
world."
Both Weyerhaeuser and TNC believe climate commitments are
necessary to mobilize support for natural climate solutions, and
that market approaches can help unlock the potential of managed
forests to sequester more carbon, boost private-sector investment
in rural communities and help keep forests as forests. To that end,
a shared goal is to grow support for a trusted and transparent
carbon market, built around high-quality greenhouse gas accounting
and high-integrity forest carbon projects using rigorous,
scientific methodologies. The collaboration additionally seeks to
elevate research into climate-smart forestry practices and the
carbon storage potential of forests with diverse tree species.
Learn more about how both organizations are prioritizing
nature-based climate solutions:
- Download TNC's NCS Handbook, a technical guide for
assessing nature-based climate mitigation opportunities.
- Read about Weyerhaeuser's sustainability strategy and climate
solutions ambitions.
ABOUT THE NATURE CONSERVANCY
The Nature Conservancy is
a global conservation organization dedicated to conserving the
lands and waters on which all life depends. Guided by science, we
create innovative, on-the-ground solutions to our world's toughest
challenges so that nature and people can thrive together. We are
tackling climate change, conserving lands, waters and oceans at an
unprecedented scale, providing food and water sustainably and
helping make cities more sustainable. The Nature Conservancy is
working to make a lasting difference around the world in 77
countries and territories (41 by direct conservation impact and 36
through partners) through a collaborative approach that engages
local communities, governments, the private sector, and other
partners. To learn more, visit nature.org or follow @nature_press
on X.
ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the
world's largest private owners of timberlands, began
operations in 1900 and today owns or controls approximately 10.5
million acres of timberlands in the U.S., as well as 14 million
acres of timberlands managed under long-term licenses
in Canada. Weyerhaeuser has been a global leader in
sustainability for more than a century and manages 100 percent of
its timberlands on a fully sustainable basis in
compliance with internationally recognized sustainable forestry
standards. Weyerhaeuser is also one of the largest manufacturers
of wood products in North America and operates
additional business lines around real estate, climate
solutions, energy and natural resources, among others. In 2023, the
company generated $7.7 billion in net sales and employed
approximately 9,300 people who serve customers worldwide. Operated
as a real estate investment trust, Weyerhaeuser's 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