West Fraser has announced a commitment to set science-based targets to achieve near-term greenhouse gas (GHG) reductions across all its operations.

As the world’s largest producer of lumber and oriented strand board (“OSB”), and a leading manufacturer of other engineered wood and forest products, the company feels its joining the Science Based Targets Initiative (“SBTi”) demonstrates a commitment to sustainability leadership and contribution to global climate action.

SBTi helps companies to set emission reduction targets in line with climate science and Paris Agreement goals. It promotes best practice in science-based target setting, and independently assesses companies' targets. To accelerate corporate climate action, SBTi is focused on significant reductions in global emissions before 2030, and achieving net-zero emissions before 2050.

Ray Ferris, President and CEO of West Fraser, said: “By committing to reduce emissions in line with climate science and align with the Paris Agreement goals by 2030, we are building on our solid legacy of sustainability performance of our products while enhancing the social, environmental and economic benefit in the communities in which we operate.”

West Fraser has set the following specific GHG reduction targets:

  • Reduce direct emissions under West Fraser’s operational control, Scope 1 GHG emissions, and indirect emissions from purchased energy, Scope 2 GHG emissions, by 46.2% by 2030 from a 2019 base year. These reductions are in line with a scenario which limits global temperature increases to 1.5°C, compared to pre-industrial levels.
  • Reduce all other indirect emissions within West Fraser’s value chain, Scope 3 GHG emissions, by 25% by 2030 from a 2020 base year. Scope 3 GHG reductions align with a scenario which limits global temperature increases to well-below 2°C, compared to pre-industrial levels.

To achieve these goals West Fraser will expend capital and adapt some operating practices. The Company’s capital plans from 2022 include projects that will make reducing GHG emissions a priority. It is expected the average annual capital expenditures on GHG reduction projects to be approximately $50 million, and fit within the overall capital budget of the business. West Fraser anticipates investing at least $400 million before 2030 to achieve its targets.

The SBTi process is initiated with a letter of commitment and provides a period of two years to develop targets for SBTi validation prior to organisational communication and disclosure.