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12/10/2021

LP Building Solutions releases initial ESG Report

The document outlines LP's five sustainability pillars: governance, people, environment, products, and community.

As a growing number of companies continue their effort toward being a better community and environmental partners, LP Building Solutions has released its 2021 Sustainability Report.

The document serves as the company’s initial environmental, social, and governance (ESG) report, while outlining the building product manufacturer’s five sustainability pillars: governance,  people, environment, products, and community.

“At LP, we define sustainability as doing the right thing today so that we can build a brighter future for generations to come,” said LP Chair and Chief Executive Officer Brad Southern. “Our work to support a  successful future is inextricably linked to protecting the environment, minimizing waste, manufacturing sustainable products, developing our employees, diversifying our workplace, supporting our communities, and promoting economic prosperity. With a strong track record of sustainability across these areas, LP continues  to improve so that we can build a stronger tomorrow.” 

“By Building a Better World,” LP said that it not only cultivates community and sustainability but also helps drive business performance. For example, in 2020, LP achieved $2.8 billion in net sales and $4.31 in earnings per share.  

“We are energized and excited to build on LP’s 50-year legacy of sustainability,” Southern continued. “As this  report shows, LP is managing risks and capitalizing on opportunities to establish new leadership standards on  ESG matters.”  

Here are several of the goals and achievements contained in the LP 2021 Sustainability Report.:

Elevating People and Community:

  • The health, safety, and wellness of LP’s employees are paramount to sustainable business success. LP’s health and safety programs are governed by the LP Environmental Health and Safety Protocol Standard and rely on an advanced form of safety management that measures serious injury and fatality potential to prevent incidents before they occur. LP said that it considers safety so fundamental to its operations that the company uses it as a key metric in evaluating operational excellence.  
  • Earlier this year, LP released the LP Diversity, Equity, and Inclusion (DEI) Pledge for Action, which prioritizes gender and racial diversity, equity, and inclusion as critical focus areas for the company. The goal of LP’s DEI journey is to cultivate an inclusive work environment that attracts and retains a diverse and high-performing workforce to meet the needs of LP’s rapidly diversifying markets and communities. 
  • In 2021, the LP Foundation donatedmore than $500,000 through five programs: Disaster Relief, Grants and Sponsorships, Community Mill  Grants, Employee Giving Match Program, and Employee Nonprofit Board Sponsorships.  

Promoting Environmental Stewardship with Responsible Manufacturing and Carbon-Conscious Products:

  • Founded as a commodity forest products company nearly 50 years ago, LP has evolved into a leading specialty building solutions provider that continues to preserve and enhance the environment. LP’s commitment to sustainable forestry is highlighted by its third-party forest certification to independent standards from the Sustainable Forestry Initiative® (SFI®) and the Programme for the Endorsement of  Forest Certification. All of the fiber that LP sources from the U.S and Canada is certified to SFI  standards. 
  • To minimize waste, LP uses more than 99% of the fiber harvested for manufacturing in products or as an alternative thermal energy source. Nearly 80% of LP’s thermal energy is derived from renewable energy sources. 
  • Using globally recognized protocols, LP is working to quantify contributions to greenhouse gas emissions related to product manufacturing, including Scope 1 (direct emissions from owned or controlled sources) and Scope 2 (indirect emissions from the generation of purchased electricity,  steam, heating, and cooling consumed by LP), as well as contributions across its supply chain, including  Scope 3 (all other indirect emissions that occur across the company’s value chain). This information will provide the initial baseline used to establish measurable targets for carbon emission reductions moving forward.  

To read the full LP 2021 Sustainability Report from the Nashville, Tenn-based comapny, visit lpcorp.com/sustainability.