AbitibiBowater on Climate Disclosure Leadership List

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By: E&P Staff

Montreal-based AbitibiBowater has been ranked the leading forest products company in Canada in the 2008 Climate Disclosure Leadership Index, with respect to disclosure of carbon emissions.

The forest-products giant — North America’s largest newsprint supplier — is among those listed in the non-profit Carbon Disclosure Project (CDP) report on companies’ disclosure practices in climate-change strategy and the reporting of greenhouse gas emissions.

The report, released today by the Conference Board of Canada, asked the 200 most valuable Canadian companies on the Toronto Stock Exchange to disclose how they deal with the risks and opportunities associated with carbon emissions and energy use, according to the Canadian Press.

The “Canada 200” report found the level and quality of disclosures have improved since last year, with 55% of the companies responding, compared with 45% last year, and the respondents disclosing more information about their energy costs, as well as the costs and savings from reducing emissions, according to the report.

The CDP represents 385 institutional investors, with a combined asset base of $57 trillion. In the CDP’s sixth annual report, AbitibiBowater came in fourth overall among Canadian high-carbon impact sector companies.

“We are committed to reducing our carbon footprint, and we want to become a carbon-neutral enterprise,” AbitibiBowater President and CEO David J. Paterson said in a statement.

AbitibiBowater says that since 1990 it has reduced absolute carbon emissions in Canada by 51% and is implementing initiatives to continue emissions reduction through use of energy-efficient technologies (e.g., greater use of biomass fuels, reduced water consumption); by developing environmentally friendly products and using more recycled fiber, by adopting harvesting practices to improve conservation and sustainable forest management, and by maximizing rail transportation for product delivery an alternative to highway use.

AbitibiBowater owns or operates 27 pulp and paper facilities and 34 wood products facilities in the United States, Canada, the United Kingdom and South Korea. It is among the world’s largest recyclers of old newspapers and magazines, and claims more third-party-certified sustainable forest land than any other company in the world.

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