However, with the aim of stopping, or at least slowing, this temperature rise and limiting its negative impact on people, a global coalition was formed by UN agencies: Science Based Targets Initiative (SBTI), World Business Council for Sustainable Development (WBCSD), World Economic Forum (WEF), International Chamber of Commerce (ICC), Principles for Responsible Investment (PRI), Carbon Disclosure Project (CDP) and World Wildlife Fund (WWF), among others. One of the purposes of the coalition is to mobilize parts of the private sector (such as companies, guilds or industries) to commit to a future of zero net emissions by 2050, based on concrete science-based objectives.

There are 70 Latin American companies participating in this initiative and 14 in Chile, including CMPC. And of course we would participate! The objective of the Business Ambition for 1.5° campaign perfectly aligns with our environmental goals as a company; in fact, the forestry and paper sector plays a very important role in the transition to a low-carbon economy, due to the enormous carbon-capturing potential of forests. 

Specifically, the agreement signed was about "science-based net emissions reduction targets" and several actions are being taken in order to meet these targets: new electricity supply contracts that come from 100% renewable sources, technological replacement of machinery with more efficient alternatives, replacement of fossil fuels with biofuels or other green energy inputs, and reduction of waste sent to final disposal, among others. 

Race to Zero

Another initiative we are part of is Race to Zero, a global campaign that falls within the United Nations Framework Convention on Climate Change (UNFCC), which aims to reduce emissions by 2030. Nicolás Gordon, CMPC Sustainability Manager, says this goal is "ambitious but not impossible.” He says that “in 2019, we already gave ourselves the goal of reducing our direct greenhouse gas and energy consumption emissions by 50% by 2030, to which we now add the ambition of achieving a balance between emissions and captures by 2050, i.e. zero net emissions. Today there are technological solutions that allow us to significantly reduce greenhouse gas emissions, and we work together with the main technology manufacturers in our industry. Additionally, in recent years, renewable energies have developed a strong presence in many countries, like Chile. Moreover, in the transportation sector, rapid progress has been made with batteries that enable performance and range levels very similar to those of combustion engines. We are more prepared than ever to generate the changes that will allow us to achieve our goals.” 

At CMPC, we firmly believe that the forestry industry's contribution to the climate change contingency is fundamental in order to mitigate its negative impact. It is an essential resource for combating greenhouse gas emissions from its operations by producing energy from biomass and/or renewable sources, thus promoting an energy transition throughout the value chain. On the other hand, it also has the potential to offer natural, low-cost, proven solutions for removing carbon from the atmosphere through plantations, forests and wood carbon storage. And the forest industry has great potential to drive the circular economy. How? Through innovative solutions that substitute services and goods, always under the linear view that this does not encourage the reuse or regeneration of raw materials.