LP Building Solutions (LP), a leading manufacturer of high-performance building products, announced the release of its first Task Force on Climate-Related Financial Disclosures (TCFD) index. The TCFD index communicates how LP evaluates and manages climate change risks and opportunities across its business and develops solutions to support a low-carbon energy transition.

“By assessing our risks and opportunities stemming from potential changes in climate, we are taking action to support the long-term financial resiliency of our business and our continued ability to deliver sustainable building solutions to our customers,” said LP Sustainability and Public Policy Director Donna Kopecky. “Our TCFD assessment helps LP identify strategic opportunities that enable us to provide low-carbon and efficiency-enhancing products to the large North American and international building markets.”

The TCFD framework was developed by leveraging extensive stakeholder input from experts in forest management, manufacturing operations, procurement, logistics, product research and development, legal, finance, investor relations, and LP’s senior management team, members of which serve on the company’s environmental, social, and governance (ESG) council and ESG Task Force. The ESG Task Force is responsible for developing and executing ESG strategies, which include managing long-term risks and opportunities related to climate change.

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LP used its enterprise risk management framework to contextualize the likelihood and potential impact of various risks on its business across the short, medium, and long term. The scenario analysis looked at how regulatory, market, technology, reputation, and physical risks may affect LP’s operations and value chain under severe climate situations.

LP is currently tracking greenhouse gas emissions and energy consumption across its operations and value chain. Additionally, LP’s Sustainable Forestry Initiative® certification program is central to advancing climate-friendly practices. More details on LP’s climate strategy will be released in its forthcoming 2022 Sustainability Report.

To learn more, read LP’s 2022 TCFD Index and 2021 Sustainability Report.

Source: LP Building Solutions