Sustainable Forest Management
Search documents
Doman Building Materials Group Ltd. Announces Sale of Remaining Timberland Holdings
Globenewswire· 2025-09-29 20:00
Core Viewpoint - Doman Building Materials Group Ltd. has sold its remaining private timberland holdings in southeast British Columbia to the Nature Conservancy of Canada, marking a strategic shift away from the forestry business and focusing on strengthening its balance sheet [1][3]. Company Overview - Doman Building Materials Group Ltd. was founded in 1989 and is headquartered in Vancouver, British Columbia, trading on the Toronto Stock Exchange under the symbol DBM [4]. - The company is Canada's only fully integrated national distributor in the building materials sector, operating multiple divisions and distribution centers across Canada and the United States [4][5]. Timberland Management - During its nine years of ownership, Doman adhered to rigorous sustainable forest management standards, including the planting of approximately 10 million new seedlings [2]. - The company will no longer be materially involved in the harvesting aspect of the forestry business following the sale [2]. Transaction Details - The transaction with the Nature Conservancy of Canada closed on September 29, 2025, and the net proceeds will be utilized to further strengthen the company's balance sheet [3].
West Fraser Releases 2024 Sustainability Report
Prnewswire· 2025-05-22 21:01
Core Viewpoint - West Fraser Timber Co. Ltd. has released its 2024 Sustainability Report, highlighting its commitment to sustainability alongside solid financial performance, and detailing progress made towards environmental, social, and governance goals [1][2]. Sustainability Achievements - The report outlines key achievements for 2024, including a 22% reduction in scope 1 and 2 emissions compared to 2019 levels, and a 13% reduction in scope 3 emissions compared to 2020 levels, both on track to meet 2030 GHG reduction targets [5]. - Manufacturing operations were powered by 75% renewable energy, with all mills progressing on energy reduction road maps [5]. - The company invested $4.3 million through 800 partnerships, focusing on youth support and mental health improvements in rural areas [5]. Partnerships and Community Engagement - West Fraser signed an agreement with the Lake Babine Nation's forestry company to secure long-term fibre supply, recognizing the Nation's role as a resource steward, pending approval from the Government of British Columbia [5]. - The company promotes sustainable forest practices and responsible sourcing through its Sustainable Forest and Wood Procurement Policy, implemented in 2024 [5]. Company Overview - West Fraser is a diversified wood products company with over 50 facilities across Canada, the United States, the United Kingdom, and Europe, producing a range of products including lumber, engineered wood products, and pulp [3].