MONTRÉAL, March 9, 2021
/PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP)
(TSX: RFP) today announced its commitment to reduce absolute
greenhouse gas (GHG) emissions (scope 1 and 2) by 30% against 2015
levels by 2025. This new target builds on the company's 83%
reduction in absolute GHG emissions from year-2000 levels,
two-thirds of which reflect reductions in emission intensity. By
achieving its target, the company will have reduced its emissions
by nearly 700,000 metric tons of CO2 equivalents per
year compared to its 2015 level.
"Resolute was an early adopter of climate action as a
cornerstone of our sustainability strategy," said Remi G. Lalonde, president and chief executive
officer. "Setting this new target is among my first actions as CEO,
demonstrating our continued focus around this important issue. Our
commitment to renewable energy is good for the environment and it's
good for the bottom line. Three-quarters of our total energy needs
come from renewable sources such as hydroelectricity and
carbon-neutral biomass, and more than 80% of our fuel energy comes
from biomass. We've been scope 1 coal-free since 2014."
Some of the more recent projects on which the company is relying
to achieve its commitment include:
- an efficiency enhancement at the Saint-Félicien (Quebec) pulp mill to improve production
capacity and reduce fossil-fuel use by up to 20%;
- a modernization of the cogeneration turbine at the Coosa Pines
(Alabama) pulp mill to reduce
purchased electricity use by 6%; and
- the installation of a sophisticated heat recovery unit at the
Thunder Bay (Ontario) pulp and paper mill to recover waste
heat and, as a result, decrease the use of fossil fuels by over
The company also announced commitments to:
- include the previously excluded wood products facilities' GHG
emissions in its GHG inventory by 2022;
- continue to report climate change data and management practices
to CDP's climate change program, including scope 1, 2 and 3
- further integrate sustainability practices in its supply chain
by working with suppliers and related stakeholders to develop scope
3 GHG emission reduction commitments.
Resolute's sustainability strategy is based on a balanced
approach to environmental, social and economic performance,
designed to enhance the company's competitive position. As an
industry leader, the company is committed to maintaining effective
sustainability oversight, governance and management practices, and
has moved beyond already rigorous regulatory compliance and
environmental incident management to commit to transparency and
annual sustainability reporting.
Cautionary Statements Regarding Forward-Looking
Statements in this press release that are not reported financial
results or other historical information of Resolute Forest Products
Inc. ("Resolute" or "we") are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. They include, for example, statements relating
to our expectations to meet greenhouse gas emission reduction
targets and other targets and commitments relating to climate
change, as well as strategies for achieving our goals generally.
Forward-looking statements may be identified by the use of
forward-looking terminology such as the words "should," "would,"
"could," "will," "may," "expect," "believe," "see," "anticipate,"
"continue," "attempt," "focus on," "improve," "challenge,"
"position," "maintain," "strive," "trend," "strategy," "seek,"
"vision," "commit," "develop," "project," "progress," "build,"
"pursue," "plan," "grow," "reduce," "move" and other terms with
similar meaning indicating possible future events or potential
impact on Resolute's business or its shareholders.
The reader is cautioned not to place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. These statements are based on management's current
assumptions, beliefs, and expectations, all of which involve a
number of business risks and uncertainties that could cause actual
performance to differ materially. The potential risks and
uncertainties that could cause Resolute's actual future financial
condition, results of operations, performance and targets to differ
materially from those expressed or implied in this press release
include, but are not limited to, the potential risks and
uncertainties set forth under Part I, Item 1A, "Risk Factors," of
Resolute's annual report on Form 10-K for the year ended
December 31, 2020, filed with the
U.S. Securities and Exchange Commission (or, the "SEC") on
March 1, 2021 which have been
heightened by the COVID-19 pandemic, including related governmental
responses and economic impacts, market disruptions and resulting
changes in consumer habits.
All forward-looking statements are expressly qualified by the
cautionary statements contained or referred above and in Resolute's
other filings with the SEC and the Canadian securities regulatory
authorities. Resolute disclaims any obligation to publicly update
or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest
products industry with a diverse range of products, including
market pulp, tissue, wood products and papers, which are marketed
in over 50 countries. The company owns or operates some 40
facilities, as well as power generation assets, in the United States and Canada. Resolute has third-party certified
100% of its managed woodlands to internationally recognized
sustainable forest management standards. The shares of Resolute
Forest Products trade under the stock symbol RFP on both the New
York Stock Exchange and the Toronto Stock Exchange.
Resolute has received regional, North American and global
recognition for its leadership in corporate social responsibility
and sustainable development, as well as for its business practices.
Visit www.resolutefp.com for more information.
To learn more about Resolute's climate initiatives, visit
View original content to download
SOURCE Resolute Forest Products Inc.