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Clearwater Paper Announces Revised Multi-Year Sustainability Goals and Continued Commitment to Progress in 2022 ESG Report

By: via Business Wire

Clearwater Paper Corporation (NYSE: CLW) today released its 2022 environmental, social and governance (ESG) report. Along with a continued commitment to create sustainable paper products, the report also highlights a significant increase in company-wide priorities to meet several key sustainability benchmarks. These include emissions reductions, resource conservation and company representation, among others as part of revised, multi-year goals.

“These goals are the most ambitious we have committed to as a company and represent our desire to make measurable progress in several areas while continuing to act as responsible citizens and contributors in the communities where we operate,” said Clearwater Paper CEO Arsen S. Kitch. “This path forward supports our sustainability journey over the next decade.”

In this year’s report, Clearwater Paper states their plans to achieve a 30% reduction of Scope 1 and 2 greenhouse gas emissions by 2030; achieve female representation of 30% or greater of their salaried workforce through 2030; and include ESG targets, goals, and outcomes in executive compensation.

The report also highlights Clearwater Paper’s commitment to designing and producing circular paper products. Through the successful launch of ReMagine and NuVo – two of their innovative paperboard brand products offered with as much as 30% post-consumer recycled material – these brands are leading efforts in specifically designing products made from fiber blends that can be reintegrated into the fiber supply chain once reaching the end of their useful life.

Clearwater Paper also announced a new diversity, equity, and inclusion (DE&I) strategy, which promotes a diverse and inclusive culture and examines how the company’s 13 U.S. locations can better represent their diverse, local communities. This work is an initial step toward Clearwater Paper’s larger goal of elevating underrepresented groups into salaried roles and leadership positions. “As a first-generation immigrant, it is incredibly important to me that we support, welcome and embrace all of our employees,” Kitch said.

Report Highlights:

  • Announcement of revised emissions goal: 30% reduction of Scope 1 and 2 greenhouse gas emissions by 2030 from 2020 baseline
  • Set commitment to include ESG targets, goals, and outcomes in executive compensation
  • Completion of a first report through CDP (formerly the Carbon Disclosure Project), enabling efforts to quantify greenhouse gas emissions output and further refine climate impact reduction goals. This reporting supports alignment with the Task Force on Climate-Related Financial Disclosures (TCFD) framework
  • Recorded zero serious injuries and fatalities (SIFs) in 2021
  • Reduced Scope 1 and 2 emissions by a total of 12% in 2021 vs. 2020 baseline
  • Reduced 2021 water usage by 5% compared to 2020
  • Launched a new diversity, equity, and inclusion (DE&I) strategy with a specific goal of achieving female representation of 30% or greater of their salaried workforce through 2030

In 2023, Clearwater Paper will complete a new materiality assessment to ensure the company’s strategy continues to meet the expectations and input of all stakeholders, and report progress on the updated ESG goals and initiatives in next year’s report.

Clearwater Paper’s 2022 ESG Report is available here.

About Clearwater Paper

Clearwater Paper is a premier supplier of private brand tissue to major retailers, including grocery, club, mass merchants and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters, and offers services that include custom sheeting, slitting, and cutting. Clearwater Paper's employees build shareholder value by developing strong relationships through quality and service.

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 statements regarding product quality, attributes and development, sustainability, ESG strategy, commitment and goals, corporate social responsibility, employees, culture, inclusion and diversity, customers, environmental matters, policy, procurement and business risks and opportunities. These forward-looking statements are based on current expectations that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include those risks and uncertainties described from time to time in the company's public filings with the Securities and Exchange Commission. The company does not undertake to update any forward-looking statements based on new developments or changes to the company’s expectations.

For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com

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