The Board of BillerudKorsnäs has decided to exercise the authorization granted to it by the Annual General Meeting on 10 May 2017, regarding repurchase of own shares. At the time of this press release, BillerudKorsnäs has 948,476 own shares in treasury. Repurchases may take place on one or more occasions during the period from 12 September 2017 until the next Annual General Meeting, up to a maximum amount of 314,690 shares. Repurchases shall be made on Nasdaq Stockholm at a price per share that is within the registered interval at any given time, i.e. the interval between the highest buying price and lowest selling price. Payment for the shares shall be made in cash. The purpose of the repurchase is to secure future delivery of shares to the participants in BillerudKorsnäs’ long term share based incentive programmes.
Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced its commitment to reduce absolute greenhouse gas (GHG) emissions (scope 1 and 2) by 30% against 2015 levels by 2025. This new target builds on the company’s 83% reduction in absolute GHG emissions from year-2000 levels, two-thirds of which reflect reductions in emission intensity. By achieving its target, the company will have reduced its emissions by nearly 700,000 metric tons of CO2 equivalents per year compared to its 2015 level.
“Resolute was an early adopter of climate action as a cornerstone of our sustainability strategy,” said Remi G. Lalonde, president and chief executive officer. “Setting this new target is among my first actions as CEO, demonstrating our continued focus around this important issue. Our commitment to renewable energy is good for the environment and it’s good for the bottom line. Three-quarters of our total energy needs come from renewable sources such as hydroelectricity and carbon-neutral biomass, and more than 80% of our fuel energy comes from biomass. We’ve been scope 1 coal-free since 2014.”
Some of the more recent projects on which the company is relying to achieve its commitment include:
*an efficiency enhancement at the Saint-Félicien (Quebec) pulp mill to improve production capacity and reduce fossil-fuel use by up to 20%;
*a modernization of the cogeneration turbine at the Coosa Pines (Alabama) pulp mill to reduce purchased electricity use by 6%; and
*the installation of a sophisticated heat recovery unit at the Thunder Bay (Ontario) pulp and paper mill to recover waste heat and, as a result, decrease the use of fossil fuels by over 20%.
The company also announced commitments to:
*include the previously excluded wood products facilities’ GHG emissions in its GHG inventory by 2022;
*continue to report climate change data and management practices to CDP’s climate change program, including scope 1, 2 and 3 emissions; and
*further integrate sustainability practices in its supply chain by working with suppliers and related stakeholders to develop scope 3 GHG emission reduction commitments.
Resolute’s sustainability strategy is based on a balanced approach to environmental, social and economic performance, designed to enhance the company’s competitive position. As an industry leader, the company is committed to maintaining effective sustainability oversight, governance and management practices, and has moved beyond already rigorous regulatory compliance and environmental incident management to commit to transparency and annual sustainability reporting.