Canfor: Canfor : 2024 Sustainability Report (0459958871)

2024 Sustainability Report ‌Contents. Welcome to Canfor's 2024 Sustainability Report. As a global leader in the manufacturing of low-carbon forest products, sustainability is embedded throughout our entire operations, from the forest to the finished product. In this 2024 Sustainability Report, we describe our approach for managing environmental, social and governance activities, and report on performance against our established goals, for Canfor and Canfor Pulp. For a complete overview of sustainability at Canfor, please see canfor.com/sustainability . Air quality 49 Water management 55 Waste management 60 Social Safety, health and wellness 67 Community resilience 74 Indigenous relations 79 Inclusion and diversity 85 Human rights 92 Supply chain management 97 limited assurance reports Introduction Governance Notes from leadership 3 Board responsibilities 103 Sustainability at Canfor 5 Management responsibilities 105 About us 6 Risk management 107 2024 sustainability highlights 10 Performance at a glance 15 Environment Appendices Sustainable forestry 23 About this report 111 Residuals management 31 Glossary 116 Climate change 36 Supplementary ESG data 118 Energy management 44 Independent practitioner's 129 Reporting standards 133 and framework indices Sustainable Forestry Initiative ® (SFI) marks are registered marks owned by the Sustainable Forestry Initiative Inc. To learn more, visit forests.org . Canadian Forest Products Ltd. Kootenay operations' Forest Stewardship Council ® (FSC) licence code is FSC-C152544. Canfor Pulp Ltd.'s FSC licence code is FSC-C131394. To learn more, visit fsc.org . 2 Programme for the Endorsement of Forest Certification (PEFC) Trademark Usage Licence is PEFC/01-31-26 for Canadian sawmill operations, PEFC/05-23-353 (Vida Skog) and PEFC/05-23-325 (VIda Skog AB - Borgstena) for Vida and PEFC/01-31-68 for Canfor Pulp. ‌Notes from leadership. ‌As I step into the role of President and CEO, I am proud of our company's legacy-as a leader in sustainability and as a global leader in the manufacturing of high-quality, low-carbon forest products. Canfor began with one sawmill in British Columbia nearly 90 years ago and has grown to 65 locations with more than 6,500 employees worldwide. Throughout this time, we have been clear on our mission-to safely and reliably manufacture and deliver high-quality forest products to our valued customers. Sustainability is integral to all that we do, and we have ambitious targets, including achieving our climate goal to be net-zero by 2050. Our employees are dedicated to embedding sustainability throughout all areas of the company. We are continually working to be better-for our people, our planet, our products and our business. Sustainability for our people. The safety and wellness of our people is our number one priority. This year we launched a company-wide global safety forum to spearhead best practices across our operations in Canada, the US and Sweden. We also expanded our people development programs to enhance leadership skills and career opportunities and donated more than $2 million through our community investment program, Good Things Come From Trees. Sustainability for our planet. We are committed to practising leading sustainable forestry that builds resilient, productive and biodiverse forests. In 2024, 100% of Canfor-managed forests continued to be certified to SFI ® or FSC ® Forest Management Standards, all North American sourced fibre was managed to the SFI Fibre Sourcing Standard and our Swedish operations were certified to the PEFC Forest Management Standard. We also continually plant more than we harvest, with 62 million seedlings planted as part of our reforestation efforts this year. In addition, we continue to pursue reduced emissions and improved efficiency, with energy scans completed at facilities in 2024. Sustainability of our products. Our responsibly produced forest products are part of the solution in the global fight against climate change. Wood materials and products deliver many climate benefits, including serving as low-carbon replacements for fossil-based materials and providing long-term carbon storage. Sustainability for our business. As we move into 2025, we are navigating some geopolitical shifts and trade uncertainties. However, we have strengthened our competitive position and will continue to pursue our sustainability goals while safely manufacturing and delivering what we are known for-high-quality forest "Sustainability is at the forefront of our business and includes best practices for our planet, our people and our products. We are continually innovating to develop new renewable products and supply high-quality, low-carbon forest products the world wants." products, reliable supply and excellent customer service. Finally, I would like to acknowledge the remarkable leadership of Don Kayne, our former President and CEO, who retired at the end of the year after 46 years at the company. Don navigated the company through some incredible times, while building a team that established Canfor as a global leader in our industry through diversification and growth in the US and Europe. Thanks for being with us on our journey. Susan Yurkovich President & Chief Executive Officer Canfor 3 "Sustainability is a top priority at Canfor Pulp. I am proud of our people as we continue to improve our sustainability performance, operate safely, and produce high-quality, fibre-based products to meet global demand." Sustainability is a fundamental priority in every aspect of our business at Canfor Pulp. This year we continued to focus on pursuing our sustainability commitments, operating safely, and repositioning the business in response to evolving market conditions and changes in fibre supply. Canfor Pulp has manufactured its pulp and paper products in Prince George, British Columbia since the 1960s- products that are sold worldwide for numerous applications, from food packaging and consumer goods to niche markets like filtration and fibre cement. Increasingly, our fibre-based products are displacing plastics and other fossil-based materials, helping to meet emissions reduction targets in the global fight against climate change. Pursuing our sustainability commitments. Sustainability starts in the forests and carries into our facilities. We are proud to meet the requirements of the PEFC and FSC Chain of Custody certifications for fibre sourcing. We also maintain certification to ISO 9001 Quality and ISO 14001 Environment Management System Standards in our pulp mill manufacturing processes. In 2024 we achieved ISO/IEC 17025 accreditation for our water quality monitoring program, implemented initiatives to reduce air emissions and waste, and powered our facilities with energy from nearly 80% renewable sources. Safety comes first-our core value. Safety always comes first at Canfor Pulp. In 2024, we participated in a newly launched global safety forum with Canfor to share best practices across business operations and instituted additional safety measures in our facilities as a result. Notably, two members of our safety team were recognized for their work and awarded prestigious Fire Services Exemplary Medals by the Governor General of Canada. As always, even one safety incident is too many. We will continue our steadfast focus on safety on our journey to achieve an incident-free workplace. Tackling market challenges. I want to express my appreciation to our employees at Canfor Pulp for their resilience during a challenging year for the business. Unfortunately, the decline in availability of economic fibre led to the closure or curtailment of several sawmills in northern BC, which in turn dramatically reduced the volume of chips available to meet the needs of our pulp operation. As a result, we indefinitely curtailed one production line at our Northwood facility. During this challenging time, our people continued to operate safely, work with professionalism and advance sustainability initiatives as we transitioned the business to reduced capacity. In 2025 we will continue to focus on operational performance, which is directly linked to our approach to sustainability, safety and the well-being of our people. Together, we will safely and sustainably manufacture and deliver high-quality pulp and paper products that are in demand worldwide. Stephen Mackie Chief Operating Officer, Canfor and President & Chief Executive Officer, Canfor Pulp 4 ‌Sustainability at Canfor. At Canfor, sustainability is embedded throughout our operations from the forest to the finished product. We're continually looking for new ways to implement sustainability, innovation and low-carbon solutions. Our approach is guided by our Sustainability Framework, which outlines how we manage material topics under three pillars of People, Planet and Products. Sustainability is integrated into decision-making, operations and the manufacturing of our products and is in alignment with globally recognized forest certifications and sustainability standards. We work closely with Indigenous and local communities, partners and stakeholders so our efforts benefit all. Together, we are building a better future with renewable materials. 5 Attention : This is an excerpt of the original content. To continue reading it, access the original document here . Attachments Original document Permalink Disclaimer Canfor Corporation published this content on May 06, 2025 , and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT) , unedited and unaltered, on May 08, 2025 at 17:20 UTC . Sustainability Report As a global leader in the manufacturing of low-carbon forest products, sustainability is embedded throughout our entire operations, from the forest to the finished product. In this 2024 Sustainability Report, we describe our approach for managing environmental, social and governance activities, and report on performance against our established goals, for