Our team continues to prioritize financial discipline as we navigate near-term market uncertainties to ensure we are best positioned to take advantage of the more favourable demand markets we envision over the medium and longer term. With renewed focus on the Paris Agreement after the United States re-joined, companies are working harder than ever to reduce their CO2 emissions in line with the agreement. In this webinar we will bring successful stories from large companies and SMEs with targets approved by the SBTi, who will share their experiences and challenges in the process of elaborating their targets and provide tips for companies that want to set goals for their operations and/or supply chains. The SBTi launches the worlds first standard method to cover land-related emissions and removals, SBTi launches world first 1.5C science-based framework to decarbonize the cement industry, The SBTi is partnering with Mott MacDonald to progress the Oil and Gas Sector Project, Confirmation: add me to general mailing list, Do not add me to the SBTi general mailing list, Science Based Targets. From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. 2022 Forests Disclosure Workshop (in English) | Watch recording |. The content of the guidance is similar to the discussion the FDIC set out in its Consumer Compliance Supervisory Highlights in March of 2022. This measure represents our best estimate of the amount of cash outflows relating to additions to capital assets for 2022 based on our current outlook. Join our mailing list to receive our newsletters and stay up-to-date 77% of retail CFD accounts lose money. On September 28, the Science Based Targets initiative (SBTi) is launching the worlds first Standard for companies in land-intensive sectors such as food, agriculture and forestry, to set science-based targets that include land-based emissions reductions and removals - the Forest, Land and Agriculture (FLAG) Science Based Target Setting Guidance. Overall, West Fraser continues to benefit from product and geographic diversity and a track record of disciplined capital allocation," said Ray Ferris, West Fraser's President & CEO. SBTi Register for Session 1 here: 10:00 am (GMT), Register for Session 2 here: 09:00 am (ET) / 1:00 pm (GMT). As of February 2020, over 590 companies have had science-based targets approved with the SBTi. Which science-based targets methods are eligible through the SBTi? This will help them define a clear pathway to ensure they are doing enough across their value chain to address their impacts and dependencies on nature. Financial institutions Finalized View more. Commitment period must cover a minimum of 5 years and a maximum of 15 years from the date In our NA EWP segment, transportation and logistics constraints across North America showed signs of improvement in the third quarter, though we continue to see signs of slowing demand for our products. Forest, Land and Agriculture (FLAG 28 September 2022 The SBTi launches the worlds first standard method to The SBTi guidance for financial institutions outlines in detail the target setting requirements for setting both scope 1+2 and scope 3 targets for investment and lending activities. SBTi believes the upcoming guidance will provide further clarity and anticipates an uptick in the number of private equity firms seeking to get their targets set as a result, Aden said. footwear We must transform the way we live and do business in a way that protects the global commons - our shared natural resources. The SBTi will host a virtual event in two time zones to launch the Forest, Land and Agriculture (FLAG) Science Based Target Setting Guidance. Accordingly, these Non-GAAP and other specified financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. If your company is interested in leading the way to a net-zero future for the industry, get in touch or join the SBTi mailing list. You will also hear from CDPs Signatory on how they are using CDP data to make better informed decisions and investment processes. There will speakers from the Partnership of Carbon Accounting Financials (PCAF) to introduce their methodologies to calculate financed emissions, and Science-based Targets Initiative (SBTi) to introduce target setting for financial institutions. The Cement Science Based Target Setting Guidance launches today to enable companies in the cement and concrete industry to set near-and long-term science-based targets in line with 1.5C for the first time.. SBTi survey of financial institutions' target-setting practices The purpose of this survey is to gather stakeholder input on science-based targets for financial institutions. Despite falling lumber prices we expect U.S. log costs to remain elevated in a number of our operating regions over the next several quarters. This Guidance is intended to aid financial institutions in complying with their obligations under Part 8A of the Inland Revenue Ordinance (Cap. Find out more about our fossil fuel policy. Forward-looking statements include statements that are forward-looking or predictive in nature and are dependent upon or refer to future events or conditions. Through our work we enable corporates, governments, institutions, and investors to accelerate and deliver upon ambitious climate commitments. A public consultation on the draft began on 10 November 2021. In addition to a near-term FLAG target, covering immediate emissions reductions for the next 5-10 years, companies are encouraged to develop a long-term net-zero FLAG target to achieve deep emissions cuts of at least 72% before 2050, aligned to the SBTi Net-Zero Standard. The SBTi recognizes the climate mitigation potential of all land use change. Christa Anderson, Director at WWF and co-lead of the SBTi FLAG project, said: The next few years are critical in our efforts to address the climate crisis, and this guidance addresses 22% of global emissions that have largely been ignored to date. The Federal Financial Institutions Examination Council (FFIEC) has issued a booklet with guidance on evaluating development and acquisition activities. Presented by: UK & Worldwide Corporate Engagement Team. The current version of the SDA supports 1.5C targets for power generation, while the methods for other sectors rely on well-below 2C pathways from the IEA. For companies interested in setting science-based targets for nature (SBTs for nature): Register now, For cities interested in setting science-based targets for climate or nature: Register now, How business can use science to seize the opportunities of a nature-positive economy, Connect with the SBTN on Twitter and LinkedIn, How businesses can use science to seize the opportunities of a nature-positive economy. Adjusted EBITDA is used as an additional measure to evaluate the operating and financial performance of our reportable segments. DE Stock Forecast, Price & News (Deere & Company) - MarketBeat Companies within land-intensive sectors (e.g., food/forestry) or those with land-related emissions that contribute 20% or more of their overall emissions will now be required to set FLAG science-based targets. To prepare companies ahead of their 2022 response to CDP, this session will focus on top tips and best practices to successfully disclose their environmental data. Net-Zero for Financial Institutions; Back global non-profits and mission driven organizations working together to equip companies as well as cities with the guidance to set science-based targets for all of Earths systems. However, few account for land-based emissions (i.e. Last quarter we indicated that capital spending was expected to be near the bottom end of the $500 million to $600 million guidance range. From the Net-Zero Standard to the EU Taxonomy, new biodiversity reporting to climate transition planning, CDP Europe's will take you through what you need to excel at disclosure in 2022 - and lead the transition to a net-zero, nature-positive economy. Find out more about the SBTi FLAG Guidance here. SBTi Overview l Criteria. Measurement, reporting and verification (MRV), Information and Communication Technology (ICT). A Technical Working Group of dedicated experts from the aviation industry and NGOs provided detailed input at key milestones during the planning phase and on the various drafts of the guidance and tool. This enables them to reduce their emissions footprint and prevent the worst effects of climate change. By continuing to use our site you accept our use of cookies. Buildings. GFANZ Releases Report to Provide Blueprint for Real-Economy This webinar will focus on training companies in the water footprint theme, presenting tools and methods for this, as well as its relationship with risks, vulnerabilities and forms of management. We use cookies to improve your experience on our site. All Rights Reserved, Forest, Land and Agriculture (FLAG) Science Based Target Setting Guidance, 80% of the mitigation potential from land use change, nearly a quarter (22%) of global greenhouse gas (GHG) emissions, The Forest, Land and Agriculture (FLAG) Science Based Target Setting Guidance launches today to enable companies to set science-based targets that include land-related emissions and removals for the first time, This Guidance fills a 22% gap of global emissions that have not been addressed before, The framework has a whole sector approach covering everything from deforestation to diet shift and 11 mitigation pathways for major commodities with high carbon footprints including beef, palm oil, dairy, poultry, timber and wood fiber. To avoid the devastating impacts of the climate crisis and to build resilience in the most vulnerable communities, cutting land-related emissions must be a priority. Companies are now invited to commit to set FLAG science-based targets to send a credible signal the sector is ready, willing and able to decarbonize and encourage local, regional and national policies to increase the level of climate ambition. Therefore, we reaffirm expectations for OSB shipments in 2022 to be approximately 5.9 to 6.2 billion square feet (3/8-inch basis). We need to do this in line with what science defines as Earths limits and we must do it on a socially equitable basis. Already, more than 1,200 companies have committed to cut their carbon footprints through the Science Based Targets initiative (SBTi) and 593 have had their targets approved. This webinar is for existing responders to CDP's Climate Change Questionnaire and will focus on year-on-year changes to our Climate Change questionnaire and scoring methodology in 2022. We know that urgent action is required to prevent catastrophic climate change. Science Based Targets Financial institutions can set targets using the SBTi criteria and guidance for financial institutions. Business leaders have a critical role to play in steering their organizations towards a future where humanity and nature will thrive. This webinar introduces the 2022 Financial Services questionnaire and highlights the key question and scoring changes from 2021. SBTi and Guidehouse are continuing our work to develop this guidance and to establish 1.5C-aligned emissions reduction pathways for high-impact subsectors in the industry. Currently, companies in all sectors (apart from oil and gas) can set science-based targets, aligned with the SBTi criteria. To participate in the call, please dial: 1-888-390-0605 (toll-free North America) or 416-764-8609 (toll) or connect on the webcast. Presented by: Transition Accelerator Team and UK & Worldwide Corporate Engagement Team. The information covered will be of value to those who submitted a 2022 response and those actively involved in CDP disclosure on behalf of responding organizations. 2022 Beginner Disclosure Workshop (in Japanese) | Watch recording |. COP27 - Science Based Targets Adjusted EBITDA by segment is defined as segment earnings before tax determined for each reportable segment in accordance with IFRS adding back the following line items from the consolidated statements of earnings and comprehensive earnings for that reportable segment: finance expense, amortization, equity-based compensation, restructuring and impairment charges, and other. The SBTi uses 5 core criteria to assess company targets. Cash and short-term investments decreased to $1.323 billion at September 30, 2022 from $1.568 billion at December 31, 2021. As such, the aviation sector has a vital role to play in halting global average temperature rises. Quarterly Adjusted EBITDA by segment($ millions). It includes the guidance, criteria, and recommendations companies need to set science-based net-zero targets By the Science Based Targets initiative Steering Committee: Alberto Carrillo Pineda (CDP), Heidi Huusko (UN Global Compact), Cynthia Cummis (WRI), Alexander Farsan (WWF). A zero-carbon, nature-positive future is the only one in which people and planet can thrive. The SBTi is therefore leading efforts to define and develop metrics around what net-zero looks like for financial institutions to decarbonize the real economy and is launching its Net-Zero Foundations for Financial Institutions: Draft for Public Consultation on 10 November 2021. Join our mailing list to receive our newsletters and stay up-to-date With more and more companies committing to set science-based targets there will continue to be conversations about which methods work best. Measurement, reporting and verification (MRV), Information and Communication Technology (ICT). However, demand for new home construction and our wood building products may decline in the near-term should interest rates continue to rise and consumer sentiment and housing affordability continue to be impacted. Adjusted EBITDA is a non-GAAP financial measure. SBTi Whether you are a first-time discloser or long-time responder, CDPs dedicated reporter services provide tailored support, enhanced data access, insights and additional tools to help with your disclosure, manage environmental risks, and improve your CDP score. 2022 Beginner's Disclosure Workshop | Watch recording |. These criteria apply only to companies that are not classified as financial institutions and Small and Medium Enterprises (SMEs). With a short plenary session and insightful snapshot sessions on key topics of interest, this year's workshop is an unmissable event for understanding and applying the latest developments from the capital markets, European regulation, and key emerging areas across climate and nature. CDP offers disclosure support services via our reporter services program and can also help you to engage with your suppliers and reduce your scope 3 emissions via our supply chain program. The SBTi launches the worlds first standard method to cover land-related emissions and removals, SBTi launches world first 1.5C science-based framework to decarbonize the cement industry, The SBTi is partnering with Mott MacDonald to progress the Oil and Gas Sector Project, Confirmation: add me to general mailing list, Do not add me to the SBTi general mailing list, Science Based Targets. Contact the SBTi Aviation Project Team at [emailprotected]. "We saw considerable improvement in the transportation challenges that had impacted our business earlier this year. 112). emissions from forestry and agricultural production, land use change and land management, included on-farm vehicle and fertilizer production) in their targets or disclosures due to the lack of available guidance and methods - until now. The call will be recorded for webcasting purposes and will be available on the West Fraser website at www.westfraser.com. The SBTi's Net-Zero Standard for Financial Institutions will bring clarity to this space and ensure that the growing momentum in the financial sector translates into science-based decarbonization in the real economy." Thirdquarter sales were $2.088 billion, compared to $2.887 billion in the second quarter of 2022. The Forest, Land and Agriculture (FLAG) Science Based Target Setting Guidance provides businesses in land-intensive sectors such as food, agriculture and forestry with the tools to play their part in preventing the catastrophic impacts of climate change. We believe that these Non-GAAP Financial Measures and Supplementary Financial Measures (collectively, our "Non-GAAP and other specified financial measures") are useful performance indicators for investors with regard to operating and financial performance and our financial condition. Wednesday 13 April - 16:00 BRT | Recording available shortly |. employees), educational institutions or non-profit organizations. Wednesday 25 May - 15:00 BRT | Recording available shortly |. Indian company Wipro faces a unique challenge with its electricity footprint - discover how the company is reaching its target of 100% renewable energy by 2030. More than 1,000 companies in 50 sectors are working with the SBTi to set science-based targets. We believe that disclosing these measures assists readers in measuring performance relative to other entities that operate in similar industries and understanding the ongoing cash generating potential of our business to provide liquidity to fund working capital needs, service outstanding debt, fund future capital expenditures and investment opportunities, and pay dividends. Additionally, more than 450 financial institutions representing $130trn of capital are members of the Glasgow Financial Alliance for Net Zero (GFANZ) initiative. power generation) or others that decarbonize at a slower pace (e.g. Science Based Targets In addition, Plantar Carbon will also bring an example of practical applicability to serve as a basis for our audience. The Foundations Paper on Net-Zero for Financial Institutions can be accessed here. 3. On October 26, 2022, the Bureau of Consumer Financial Protection (CFPB) issued supervisory guidance which warned financial institutions that levying overdraft fees to consumers who would not reasonably anticipate the fees may constitute an unfair act or practice under the Consumer Financial Protection Act of 2010 (CFPA). https://www.prnewswire.com/news-releases/west-fraser-announces-third-quarter-2022-results-301660363.html, West Fraser Timber Co (WFG) Gets a Buy from RBC Capital, BMO Capital Remains a Buy on West Fraser Timber Co (WFG), WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS, West Fraser Timber GAAP EPS of $2.50 beats by $0.76, revenue of $2.09B beats by $210M, West Fraser Timber Q3 2022 Earnings Preview, What Wall Street expects from West Fraser Timber's earnings, Materials Sector Weekly Round-up: Sigma Lithium tops list; WD-40 drops on bleak annual guidance, Registration on or use of this site constitutes acceptance of our, North America Engineered Wood Products ("NA EWP") segment Adjusted EBITDA, Europe Engineered Wood Products ("Europe EWP") segment Adjusted EBITDA, Repurchased 2.224 million shares for aggregate consideration of. Through our regional disclosure workshops, we provided valuable support, updates, thought leadership and networking, tailored to your region, enabling you to make the most of the disclosure process and take more effective environmental action. This is already causing serious damage to ecosystems, threatening food security, human health, businesses and economies around the world especially in emerging countries. Sector guidance. Presented by: CDP Global Water Team and UK & Worldwide Corporate Engagement Team. This sector represents nearly a quarter (22%) of global greenhouse gas (GHG) emissions, the largest emitter after energy. 1. It will also provide guidance and case studies on CDP water security questionnaires, as more investors and customers are looking into water conservation issues after Taiwans 2021 water crisis. Guidance We do not expect to increase our Pulp & Paper segment shipments in 2022. Our guidance supports companies to reduce the fashion industry's emissions footprint. Get involved. Third quarter Adjusted EBITDA1 was $426 million compared to $1,124 million in the second quarter of 2022. What are 'science-based targets'? The Group has set investment portfolio targets for all classes required under the SBTi Financial Institution guidance. Although the limited number of mitigation pathways with sector granularity is a bottleneck, it is no reason to forego the immense value sectoral pathways can bring to guiding decarbonization of the global economy an approach widely embraced by the UNFCCCs Climate Action Pathways, Mission Possible, and the Transition Pathway Initiative, and many others. WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS This webinar is an introduction to the Water Security questionnaire and benefits of CDP disclosure. We continue to expect the capital investment for the project to be approximately 10% above the original estimate of $70 million and project completion to be by the end of the first quarter of 2023. 2022 Forests Disclosure Workshop (in Bahasa Indonesia) | Watch recording |. The science around greenhouse gas emissions is always improving and the SBTis methodology follows suit Version 4.1 of its Criteria and Recommendations and Target Validation Protocol were published in April 2020 and new versions are in the works. However, stopping deforestation makes up the majority (80%) of the 4.6GT mitigation potential from land use change. By continuing to use our site you accept our use of cookies. Committing to net zero and avoiding In 2021, the SBTi plans to update this initial set of criteria based on lessons learned in the target validation pilot phase for financial institutions (See Chapter 8 of the Financial Sector SBT Guidance for more information on committing and submitting targets to SBTi). VANCOUVER, BC, Oct. 26, 2022 /PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) reported today the third quarter results of 2022 ("Q3-22"). The demand for our European products is also expected to remain robust over the longer-term as use of OSB as an alternative to plywood continues to grow, and an aging housing stock supports long-term repair and renovation spending and additional demand for our wood building products. Adjusted EBITDA is used to evaluate the operating and financial performance of our operating segments, generate future operating plans, and make strategic decisions. Join our mailing list to receive our newsletters and stay up-to-date This session will offer insights into the 2022 scoring methodologies and resources to better understand how questionnaires are scored and how companies can advance their environmental practice in the future. Third quarter earnings were $216 million, or $2.50 per diluted share, compared to $762 million, or $7.59 per diluted share in the second quarter of 2022.
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