WILDLIGHT, Fla.--(BUSINESS WIRE)--Mar. 1, 2021--
Rayonier Inc. (NYSE:RYN) today released its first Carbon Report (https://www.rayonier.com/media/8328764/rayonier-carbon-report_issued-march-2021.pdf) detailing the positive net carbon impact generated by the Company’s forestry operations. In 2019, Rayonier’s timberland assets sequestered an estimated 5.7 million metric tons of CO2 equivalents from the atmosphere, net of carbon emitted through operations and carbon removed/transferred to customers through harvest activity. At year-end 2019, the Company’s timberland assets stored an estimated 732 million metric tons of CO2 equivalents in total. The Company’s Carbon Report provides a clear accounting of how Rayonier’s sustainable forestry business is part of the solution for achieving net zero emissions globally.
This report is unique and comprehensive in quantifying the carbon impacts across the Company’s forestry value chain, including:
Total carbon stored within Rayonier's timberland portfolio;
Carbon sequestered annually by the Company’s forests;
Carbon emissions associated with the Company’s direct and indirect forestry operations, including Scope 1, 2, and 3 emissions;
Carbon removed/transferred from the Company’s forests to its customers through harvest activity; and
Carbon that remains stored in downstream solid wood products produced from the Company’s timber.
“As a company whose core business is maintaining healthy ecosystems that support both sustainable forestry and its associated carbon sequestration benefits, we recognize the importance of protecting the climate and our natural environment,” said David Nunes, President and CEO. “Rayonier’s business model provides a natural climate change solution: our trees remove carbon from the atmosphere during their growth cycle, and after harvesting, a significant portion of this carbon remains stored for an extended period of time within downstream wood products. Our inaugural Carbon Report demonstrates the important role that working forests play in fighting climate change.”
“This report reflects our unwavering focus on improving our sustainability reporting, as well as our long-standing commitment to best-in-class disclosure and transparency. Today marks the next step in our commitment to protect the planet by capitalizing on our unique ability to drive positive climate impacts. We will continue to ensure that we are part of the global solution to addressing climate change, and we look forward to further engagement on this topic with our shareholders and other stakeholders going forward.”
The Carbon Report, as well as Rayonier’s Social and Environmental Reports, can be found on its Responsible Stewardship web page: (https://www.rayonier.com/sustainability/responsible-stewardship).
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. As of December 31, 2020, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.73 million acres), U.S. Pacific Northwest (507,000 acres) and New Zealand (417,000 acres). The Company also acts as the managing member in a private equity timber fund business with three funds comprising approximately 141,000 acres. On a “look-through basis”, the Company’s ownership in the timber fund business equates to approximately 17,000 acres. More information is available at www.rayonier.com.
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Source: Rayonier Inc.