Weyerhaeuser Co. (NYSE: WY) is one of five corporations serving as founding members of the Bipartisan Policy Center’s new Net Zero Business Alliance (NZBA), which will work with U.S. industry and policymakers to pursue net-zero greenhouse gas emissions by 2050.
The other founding members of the NZBA are Occidental Petroleum Corp., Southern Company, Tyson Foods, Inc., and United Airlines, Inc. The group is expected to expand in the coming weeks to additional sectors as future members are announced.
Russell Hagen, Weyerhaeuser’s CFO, said the combination of forests and wood products as carbon removal and storage solutions, in combination with emissions reductions, “has significant opportunity to contribute to net-zero goals. We are excited to work cooperatively with partners within the NZBA to lead on this front.”
According to the NZBA, decarbonizing the U.S. economy in 30 years requires: substantially increasing public-private investment in all forms of low-carbon energy innovation; dramatically accelerating the speed with which technologies are commercialized and built at scale; and designing rigorous and reliable approaches to remove carbon from the atmosphere.