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Lowe’s Unveils Unprecedented Business Initiative To Help Protect World’s Forests
Lowe’s Unveils Unprecedented Business Initiative To Help Protect World’s Forests
Published 08-08-00
Submitted by Lowe's Companies, Inc.
Lowe’s Companies, Inc., the world’s second largest home improvement retailer, today released the details of its landmark lumber and wood product procurement policy aimed at helping protect the world’s threatened forests. The company has committed to overhaul the sourcing of lumber and wood in the products it sells while proactively engaging its wood suppliers and governments to take immediate steps towards the permanent protection of critical forest areas.
"In developing our policy, Lowe’s pursued what some in the industry may consider an unconventional approach," added Mark Kauffman, Lowe’s senior vice president of Merchandising. "We worked closely with the environmental and scientific communities as well as our suppliers and facilitated a number of first-ever meetings between these groups."
Today’s announcement is the culmination of a multi-stepped corporate initiative to bring together environmental organizations, including Rainforest Action Network and the World Resources Institute (WRI), wood suppliers, governments and industry organizations. Lowe’s has taken an active role in encouraging industry and government negotiations with groups working to protect endangered forests in areas including the Pacific Northwest, British Columbia and the Southeastern U.S.
"The end result was a more balanced policy and what we hope will be a major turning point for environmental discussions in the U.S.," added Kauffman.
Under the Environmental Policy, Lowe’s will:
Lowe’s has already taken a number of important steps to become the industry leader in implementing responsible wood purchasing. The company recently eliminated ramin dowels sourced from Indonesia from its inventory and converted to a domestic poplar species.
Lowe’s also announced the formation of a "Healthy Forests Advisory Board," which will help guide the company through its policy implementation process and provide counsel on general forestry issues. The Advisory Board will include environmental groups, environmental scientists, suppliers, certifiers and buyer groups. The Board’s first actions will be to address a number of on-going environmental issues, such as the conversion of Southern forests to pine plantations, commercial logging in U.S. National Forests and illegal logging concerns in certain foreign countries.
Lowe's Companies, Inc.
Lowe's Companies, Inc.
Lowe's (NYSE: LOW) is a proud supporter of Habitat for Humanity International, American Red Cross, United Way of America, and the Home Safety Council, in addition to numerous non-profit organizations and programs that help communities across the country. Lowe's Charitable and Educational Foundation awards more than $3 million annually to diverse organizations across the United States. Lowe's also encourages volunteerism through the Lowe's Heroes program, a company-wide employee volunteer program aimed at preventing unintentional home injuries. Lowe's, a FORTUNE(R) 50 company with fiscal year 2003 sales of $30.8 billion, has more than 1,050 stores in 46 states.
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