Managing Climate Risks: International Paper's Strategy for a Resilient Future

Rhea-AI Summary

International Paper is actively addressing climate change risks and opportunities, positioning itself as a leader in sustainable practices within the pulp and paper industry. The company:

- Is one of the first North American pulp and paper companies with an approved Science Based Target initiative (SBTi) target

- Follows the Task Force on Climate-related Financial Disclosures (TCFD) recommendations for reporting

- Responds to Climate Disclosure Project's (CDP) questionnaires on Climate Change, Forest, and Water Security

- Has published a TCFD Report outlining climate-related risks, opportunities, and corresponding strategies

- Anticipates more acute impacts from extreme weather and water scarcity in the coming decade

- Sees significant opportunities in the growing low-carbon circular economy

- Continues to refine climate scenario analyses for effective planning and transparent communication with stakeholders

Positive

• Early adopter of Science Based Target initiative (SBTi) in the North American pulp and paper industry
• Transparent reporting through TCFD recommendations and CDP questionnaires
• Identified opportunities in the growing low-carbon circular economy

Negative

• Experiencing weather-related impacts exacerbated by climate change
• Anticipates increased acute impacts from extreme weather and water scarcity in the near future

NORTHAMPTON, MA / ACCESSWIRE / September 19, 2024 / International Paper Company
Originally published in International Paper's 2023 Sustainability Report

Climate change is disrupting society and business today. As we face physical and transition risks now and in the years ahead, identifying these risks and opportunities for our company and the communities where we operate is key. We're working to better understand these risks and determine the best way to monitor, measure and address them. As one of the first North American pulp and paper companies to have an approved Science Based Target initiative (SBTi) target, we continue to use the SBTi-approved methodology to inform the strategies we need to implement.

Our reporting also follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), a framework for companies to analyze and report on climate-related risks, and to inform investors on exposure to financial risks related to climate change. We additionally respond to Climate Disclosure Project's (CDP) Climate Change, Forest and Water Security questionnaires to transparently disclose our risks and opportunities in those core areas of sustainability.

Our latest TCFD Report maps out our climate-related risks and opportunities as well as the corresponding mitigation and adaptation strategies. As a leading producer of renewable fiber-based products, we see significant opportunities in the growing low-carbon circular economy. However, we are already experiencing weather-related impacts exacerbated by climate change. We believe that we are more likely to experience an increase in acute, rather than chronic, impacts related to extreme weather and water scarcity during this decade. We continue to refine our climate scenario analyses to plan effectively and communicate transparently to our stakeholders.

Learn more in this report's Sustainable Operations section and our Climate Change Statement.

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About International Paper

International Paper (NYSE:IP) is a global producer of sustainable packaging, pulp and other fiber-based products, and one of the world's largest recyclers. Headquartered in Memphis, Tenn., we employ approximately 39,000 colleagues globally who are committed to creating what's next. We serve customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2023 were $18.9 billion. Additional information can be found by visiting internationalpaper.com/.

About International Paper - EMEA

In Europe, Middle East & Africa (EMEA), International Paper focuses on the production and marketing of fiber-based packaging and specialty pulp, employing approximately 4,400 people. As a leading supplier of high-quality corrugated containers for a multitude of applications, we serve customers throughout the region from our network of two recycled containerboard mills and 23 box plants in France, Italy, Morocco, Portugal and Spain. Specialty pulp is made in Gdansk, Poland. Other products available from International Paper in the region include a variety of Kraft linerboard and other pulp products.

View additional multimedia and more ESG storytelling from International Paper Company on 3blmedia.com.

Contact Info:
Spokesperson: International Paper Company
Website: https://www.3blmedia.com/profiles/international-paper-company
Email: info@3blmedia.com

SOURCE: International Paper Company

View the original press release on accesswire.com

FAQ

What climate-related reporting frameworks does International Paper (IP) follow?

International Paper follows the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and responds to Climate Disclosure Project's (CDP) questionnaires on Climate Change, Forest, and Water Security.

Has International Paper (IP) set any science-based climate targets?

Yes, International Paper is one of the first North American pulp and paper companies to have an approved Science Based Target initiative (SBTi) target.

What climate-related risks does International Paper (IP) anticipate in the coming decade?

International Paper anticipates an increase in acute impacts related to extreme weather and water scarcity during this decade, rather than chronic impacts.

How is International Paper (IP) preparing for climate-related risks?

International Paper is refining its climate scenario analyses to plan effectively and communicate transparently with stakeholders about climate-related risks and opportunities.