WILDLIGHT, Fla.--(BUSINESS WIRE)--Rayonier Inc. (NYSE:RYN) today released its 2023 Sustainability Report, which highlights the actions the company is taking to enhance the long-term sustainability of its land resources as well as the long-term well-being of its investors, employees, communities, and other stakeholders. This report illustrates Rayonier’s ongoing commitment to transparency around Environmental, Social, and Governance (ESG) factors and how they are incorporated into its strategic and operational decision-making.
“Transparency with our stakeholders regarding our ESG practices and strategies is critically important, particularly as we seek to attract new shareholders, build relationships with new counterparties, strengthen bonds within our local communities, and recruit new talent to advance our strategy,” said Mark McHugh, President and CEO. “We remain committed to improving our ESG practices and disclosures, investing in our people and communities, and advancing the differentiated sustainability solutions offered by working forests.”
Concurrent with the release of its 2023 Sustainability Report, the Company is also releasing its latest Carbon Report, which quantifies the carbon impacts across Rayonier’s value chain and details our emissions reduction targets. In 2023, Rayonier’s forestlands removed an estimated 13 million metric tonnes of CO2 equivalents from the atmosphere, far exceeding estimated emissions. At year-end 2023, the Company’s forestlands stored an estimated 715 million metric tonnes of CO2 equivalents in total.
“Carbon sequestration within our lands and the products made from our trees is one of the many environmental benefits provided by private working forests,” continued McHugh. “We are also committed to taking an even more active role in combating climate change by embracing process improvements and new technologies that reduce emissions across our operations. To this end, we became a signatory to The Climate Pledge in December 2023 and have developed emissions reduction targets in line with the Paris Agreement 1.5ºC pathway.”
The 2023 Sustainability Report, as well as the latest Carbon Report, can be found on the Company’s Sustainability web page.
About Rayonier
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 June 30, 2024, Rayonier owned or leased under long-term agreements approximately 2.7 million acres of timberlands located in the U.S. South (1.85 million acres), U.S. Pacific Northwest (417,000 acres) and New Zealand (410,000 acres). More information is available at www.rayonier.com.