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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