Weyerhaeuser : TCFD (Taskforce on Climate-Related Financial Disclosures)

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WEYERHAEUSER'S ASSESSMENT

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DISCLOSURE

Describe the Board's oversight of climate-

The Governance and Corporate Responsibility Committee of the Board of Directors maintains proactive

Strong Governance - Board Oversight

related risks and opportunities.

oversight of our sustainability strategy, including matters related to climate change. This includes an

CDP Climate Response- C1.1

annual review of our performance and progress toward our sustainability goals.

Governance

Describe management's role in assessing

The Chief Administration Officer has accountability for the implementation of our sustainability strategy.

Strong Governance - Board Oversight

and managing climate-related risks and

The VP of Corporate and Government Affairs, who reports to the CAO, has responsibility over the

CDP Climate Response- C1.2

opportunities.

Corporate Sustainability Team, which is led by the VP of Corporate Sustainability. This team has

responsibility over the sustainability strategy, which includes the management of climate-related risks and

opportunities.

Describe the climate-related risks and

We believe climate change will result in the disruption of normal business patterns and that there are

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opportunities identified over the short,

opportunities and risks to each of our businesses and our company. Some selected risks we are currently

CDP Climate Response- C2.1, C2.2, C2.3

medium, and long term.

assessing and managing include physical risks, such as temperature and precipitation changes and the

variability of disturbance events, which could affect the forests we own and manage, proposals for carbon

legislation, and public policy choices concerning renewable energy and biomass. Opportunities that we

are assessing include changes to our tree growing conditions in certain areas, increased demand or

interest in our forest lands for climate mitigation, and continued development of forest carbon offset

markets. For further discussion of timelines, risks and opportunities, see our CDP Climate Response.

Strategy

Describe the impact of climate-related risks

Our sustainability strategy places a large focus on the integration of sustainability considerations,

Our Strategy - Business Alignment

and opportunities on businesses, strategy,

including climate change, into our businesses. Two primary climate-related considerations include our

CDP Climate Response- C2.4, C2.5, C2.6

and financial planning.

potential participation in carbon markets and a focus on sound science and innovation in our timberlands.

In 2023, we spent $9.95 million on forestry research, the results of which will enable us to continually

improve our forest management practice while also improving the resiliency of our forests.

Describe the resilience of the organization's

We conduct climate risk assessments which include studying the effects of changing temperature,

CDP Climate Response- C3.1

strategy, taking into consideration different

precipitation, and other climate-related factors on tree growth and harvest ability.

climate-related scenarios, including 2C.

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DISCLOSURE

Describe the processes for identifying and

Weyerhaeuser convened a team of its own experts from across different business lines, including strategy

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assessing climate-related risks.

and technology, environmental compliance, government affairs, acquisitions & divestitures

CDP Climate Response- C2.2b

and sustainability. This team was responsible for identifying the risks and opportunities from climate

change and presented these findings to senior management. We reevaluate these impacts annually.

Describe the processes for managing

Based upon the risks and opportunities identified, the team was also responsible for recommending

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Risk Management

climate-related risk.

actions and for integrating these into normal business practices. Broadly, these actions were grouped into

CDP Climate Response- C2.2d

portfolio decisions, operational support and product marketing. These recommendations are currently

being implemented in the relevant business and as a part of our sustainability strategy.

Describe how processes for identifying,

As a company with more than 100 years of experience in growing forests, climate and weather factors

Strong Governance

assessing, and managing climate-related

have always been integrated into overall risk management. As the evidence and impact of climate change

CDP Climate Response- C2.2b

risks are integrated into overall risk

have increased, our company-wide enterprise risk assessment has consistently identified climate change

management.

as significant topic. The risk assessment team gathers input from our internal experts and teams for a

more in-depth understanding of the identified climate-related risks.

Disclose the metrics used to assess climate-

We disclose three years of data on a wide variety of climate-related metrics including sustainable forest

ESG Data Table

related risks and opportunities in line with

management, ecosystem services, raw material use, volume of wood fiber, energy use, air emissions,

CDP Climate Response- C4

strategy and risk management process.

water use, residuals and waste, greenhouse gases, carbon sequestration, environmental compliance and

environmental remediation.

Disclose Scope 1, 2, and, if appropriate,

2023 emissions in million metric tons of CO2 equivalents:

ESG Data Table: Greenhouse Gas

Scope 3 GHG emissions, and the related

•

Scope 1: 0.4

Emissions

risks.

• Scope 2 (location-based): 0.5

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• Scope 2 (market-based): 0.4

CDP Climate Response- C6

Metrics and Targets

•

Scope 3: 9.3

Carbon Record

Describe the targets used by the

In 2010, we set a goal to reduce our greenhouse gas emissions by 40% by 2020 (compared to a

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organization to manage climate-related

2000 baseline). We exceeded that goal, and in 2020 we achieved a 57% reduction in emissions.

CDP Climate Response- C4.1

risks and opportunities and performance

against targets.

In 2021, we set a target to reduce absolute Scope 1 and 2 emissions by 42% by 2030 against a 2020

baseline, and to reduce Scope 3 emissions by 25% per ton of product in the same timeframe. Our target

has been approved by the Science Based Targets initiative as in-line with limited warming to 1.5 Celsius.