CATCHMARK TIMBER TRUST A ATLANTA, Dec. 23, 2021 /PRNewswire/ -- CatchMark Timber Trust, Inc. (NYSE: CTT) today released its 2020 ESG Report, which details the Company's deep commitment to meeting the highest standards of environmental stewardship, social responsibility, and corporate governance. The report outlines CatchMark's mission to incorporate sustainable practices into all operations, seeking to produce beneficial results for all stakeholders – shareholders, customers, suppliers, contractors, employees and neighbors. The report also outlines important ESG ambitions for the years ahead.
Brian M. Davis, CatchMark's President and CEO said: "To maximize the value of our exceptional timberlands we must continue to engage in environmentally sound practices across our operations. These include managing sustainable harvests, which promote biodiversity and forest health; seeking opportunities for carbon sequestration and alternative land uses, including solar energy; and addressing climate change. In addition, we promote a safe and healthy work environment and employ procedures and programs to ensure compliance with the highest standards of corporate governance and ethics."
The 2020 ESG Report also includes CatchMark's 2020 Carbon Report, which is a detailed analysis of carbon storage, carbon sequestration, and emissions. It determines the overall net carbon impacts from the Company's timberland operations in the U.S. South. According to the report, the company sequestered nearly 1.9 million metric tons of CO2 and realized an estimated positive net carbon impact of approximately 1.2 million metric tons of CO2 in 2020.
Davis added: "We recognize that our timberlands, and subsequent end-uses of our timber, can have an important role in mitigating climate change. We are expeditiously moving forward with the value realization of our environmental initiatives — like carbon sequestration."
About CatchMark
CatchMark (NYSE: CTT) seeks to deliver consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands located in high demand U.S. mill markets. Concentrating on maximizing cash flows throughout business cycles, the company strategically harvests its high-quality timberlands to produce durable revenue growth and takes advantage of proximate mill markets, which provide a reliable outlet for merchantable inventory. Headquartered in Atlanta and focused exclusively on timberland ownership and management, CatchMark began operations in 2007 and owns interests in 370,100 acres* of timberlands located in Alabama, Georgia and South Carolina. For more information, visit www.catchmark.com.
* As of October 15, 2021
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. However, the absence of these or similar words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are not guarantees of performance and are based on certain assumptions, discuss future expectations, describe plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. Forward-looking statements in this press release include, but are not limited to, statements about our 2021/2022 ambitions. Many of the standards and sustainability metrics used in preparing our ESG report, as well as our future objectives and targets with respect to such metrics, continue to evolve and are based on management assumptions believed to be reasonable at the time of preparation but should not be considered guarantees. The following important factors, among others, could cause actual results or events to differ materially from our historical results or those expressed or implied by forward-looking statements made in this press release: (i) changes in requirements in third-party certification of our timberlands; (ii) changes in policy and best management practices; (iii) compliance with and changes in national and regional environmental, health, safety, and human rights laws, including emissions regulations, and other ethical business practices; (iv) compliance with and changes to greenhouse gas emissions and other standards related to climate change; (v) the uncertainties of potential impacts of climate-related initiatives; (vi) changes in environmental laws and regulations regarding timber harvesting, delineation of wetlands, and endangered species, that may restrict or adversely impact our ability to conduct our business; (vii) adverse weather conditions, natural disasters and other catastrophic events such as hurricanes, wind storms and wildfires, which can adversely affect our timberlands and the production, distribution and availability of our products; (viii) we may not generate the harvest volumes from our timberlands that we currently anticipate; (ix) the demand for our timber may not increase at the rate we currently anticipate or could decline due to changes in general economic and business conditions in the geographic regions where our timberlands are located, including as a result of the COVID-19 pandemic and the measures taken as a response thereto; (x) a downturn in the real estate market, including decreases in demand and valuations, may adversely impact our ability to generate income and cash flow from sales of higher-and-better use properties; (xi) the markets for carbon sequestration credits, wetlands mitigation banking and solar projects are still developing and we maybe unsuccessful in generating the revenues from environmental initiatives that we currently expect or in the timeframe anticipated; and (xiii) the factors described in Part I, Item 1A Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and our other filings with Securities and Exchange Commission. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We undertake no obligation to update our forward-looking statements, except as required by law.
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SOURCE CatchMark Timber Trust, Inc.
