Resolute Forest Products

Overview

Resolute Forest Products Inc.

type	Subsidiary
parent	Domtar (2023–present)
owner	Paper Excellence Group (2023–present)
isin	isin: US76117W1099 delisted 2023‡R1R‡
foundation	2007 (Abitibi-Consolidated and Bowater merger)
location	Montreal, Quebec, Canada
area served	Worldwide
key people	Duncan K. Davies‡R2R‡ (Chairman) Remi G. Lalonde‡R3R‡ CEO
industry	Pulp and Paper, Tissue, Wood Products
num employees	7,100 (2020)‡R4R‡
products	Market Pulp, Paper, Tissue, and Wood Products‡R5R‡
revenue	US$ 2.8 billion (2020)‡R4R‡
operating income	US$ 99 million (2020)‡R4R‡
net income	US$ 10 million (2020)‡R4R‡
assets	US$ 3.73 billion (2020)‡R4R‡
equity	US$ 1.081 billion (2020‡R4R‡
homepage	http://www.resolutefp.com/

Resolute Forest Products (French: Produits forestiers Résolu), formerly known as AbitibiBowater Inc., is a Canada-based pulp and paper company.[6][7] Headquartered in Montreal, Quebec, the company was formed in 2007 by the merger of Bowater and Abitibi-Consolidated.[8] At that time, the merged company was the third largest pulp and paper company in North America, and the eighth largest in the world.

On 1 July 2012, the company's name was changed to Resolute Forest Products Inc.[9][10] In 2023, the company was acquired by the Paper Excellence Group through its subsidiary, Domtar

Issues

Employees

The Communications, Energy and Paperworkers Union of Canada has been critical of the company's attempts to renegotiate pension contributions with their pension underfunded by approximately $1.9 billion.[27] On 3 May 2013, it was reported that an agreement was put in place which may address the ongoing pension dispute with Resolute agreeing to increase its pension payments and “stabilize the pension plan over the next decade.”[28]

Environmental accreditations

On August 29, 2013 a case study examining the use of Forest Stewardship Council (FSC) Controlled Wood system by Resolute was released.[29] The report concludes that Resolute's improper application of Forest Stewardship Council standards threatens the integrity of the FSC system and brand. On January 1, 2014, after a successful appeal by the Grand Council of the Crees, three FSC certificates covering more than 8 million hectares of forest were suspended. FSC found violations of its principles relating to indigenous Peoples’ rights, environmental impacts, forest benefits, monitoring and assessment, and High Conservation Value forests.[30] Resolute Forest Products became a member of the World Wildlife Fund’s Climate Saver’s Program on November 10, 2011 with a commitment to “reduce their absolute greenhouse gas (GHG) emissions by 65 per cent by 2015 below 2000 levels” .[31]

Greenpeace

Resolute Forest Products has been criticized by Greenpeace and other organizations for advancing logging and road building in endangered species habitat in Québec and Ontario.[32]

On 18 May 2010, Resolute Forest Products joined 29 other organizations including Greenpeace Canada and the David Suzuki Foundation[33] to become a founding member of the Canadian Boreal Forest Agreement (CBFA).[34] The agreement formalizes the members’ commitments to conserving vast areas of forests and enabling the legislated protection of large-scale areas that are needed to preserve threatened species such as woodland caribou. Claiming a lack of progress on delivering results within the CBFA, particularly on the creation of protected areas and caribou conservation plans, Greenpeace Canada and Canopy, two founding signatories, departed the agreement in December 2012 and April 2013 respectively.[35] Other environmental organizations suspended work with Resolute on May 21, 2013 announcing that "Resolute will not do the minimum that the science says is required to protect our forests and the threatened caribou that call them home."[36]

Resolute Forest Products

History

Predecessor companies

Operations

Issues

Employees

Environmental accreditations

Greenpeace

External links

References