Home Depot Inc HD

Launches Environmental Wood Purchasing Policy

[EthicalInvestor]

https://www.igc.org/ran/ran_campaigns/old_growth/homedepot/hd_pr.html THE HOME DEPOT LAUNCHES ENVIRONMENTAL WOOD PURCHASING POLICY Company Promises to Reduce Wood Sourced From Endangered Forests During Next Three Years ATLANTA, Aug 26, 1999 - The Home Depot, the world's largest home improvement retailer, took the occasion of its 20th anniversary celebration this week to announce a significant policy change regarding wood sourcing. President and CEO Arthur M. Blank used his keynote speech to Home Depot associates today to highlight the next phase in the company's environmental commitment. "Our pledge to our customers, associates and stockholders is that Home Depot will stop selling wood products from environmentally sensitive areas," Blank said. "Home Depot embraces its responsibility as a global leader to help protect endangered forests. By the end of 2002, we will eliminate from our stores wood from endangered areas -- including lauan, redwood and cedar products -- and give preference to 'certified' wood." To carry the "certified" label, a supplier's wood must be tracked from the forest, through manufacturing and distribution, to the customer and must ensure a balance of social, economic and environmental factors. "This is indeed a bold step in advancing the cause of independent certification and responsible wood use throughout the industry," said David A. Ford, president of the Certified Forest Products Council, whose organization helps connect buyers and sellers of products coming from certified well-managed forests. "We're pleased that Home Depot is taking decisive action to protect endangered forested ecosystems around the world." The company's commitment is a huge challenge for Home Depot as well as for its suppliers, noted Blank. Our company sells less than 10 percent of the lumber in the world, but is still the largest single retailer of lumber in the world," Blank said. "Today, the world supply of certified wood is extremely limited. "Home Depot will use the power of its purchasing dollars to vote for products that do the most to preserve environmentally sensitive areas," he said. "We are asking our vendors to help us by dramatically increasing the supply of ceritifed forest products." Blank said Home Depot is encouraging other home improvement retailers to follow its lead. "I hope our competitors join us in this effort to save environmentally sensitive areas around the world and to promote alternative wood prodcucts," he said. Our policy is rooted in environmental responsibility, and it makes good business sense, because we believe people will see the value in what we're doing," he said. "We're also working to ensure that the transition is completely transparent to customers, and will not appreciably affect pricing or product availability." By taking this step, Home Depot is ensuring that there will be forest products for generations to come, Blank added. Founded in 1978, The Home Depot is the world's largest home improvement retailer with 856 stores in the United States, Canada, Puerto Rico and Chile. For the past six years, the company has been ranked by Fortune magazine as America's most admired specialty retailer. For further information, contact: Jerry Shields Sr. Public Relations Manager The Home Depot 770-384-2741 [e-mail] RAN press release Atlanta Journal Constitution Associated Press (AP) Reuters Environment News Service (ENS)