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Risk Management

Managing our environmental, safety, social and public-policy risks is critical to our success. Our disciplined process for setting companywide strategic direction for these risks gives our employees, senior management team and board of directors the ability to make smart, informed decisions and implement them effectively.

Our primary systems for evaluating potential sustainability risks and implementing leadership direction are:

COMPANYWIDE

Enterprise Risk Management
  • This annual analysis identifies risks, evaluates the likelihood of an occurrence, and determines if each risk could have a significant impact to our company. It is conducted under the guidance of our chief financial officer and reviewed by our board of directors.
Internal Audits
  • We conduct regular audits to ensure compliance with environmental, safety and financial regulations, voluntary standards and our own company policies. When noncompliance issues are identified, corrective action plans are developed and implementation is tracked to ensure timely resolution.
Sustainability Analysis
  • We conduct an annual sustainability significance assessment, performance review and trend analysis that is shared with our board of directors and senior management team.
Ethical Business Conduct
  • We have a robust ethics program that ensures our employees understand and follow our code of ethics, participate in regular ethics training, and model and promote ethical behavior, including training on and compliance with anti-trust and anti-corruption laws.
Companywide Policies

FINANCIAL

Internal controls
  • To help ensure our shareholders receive accurate financial information, the Sarbanes-Oxley Act of 2002 requires public companies to assess their internal control structures and procedures for financial reporting and to disclose any material weakness in these controls. An independent public accounting firm audits our internal controls on an on-going basis and confirms they are effective and have no material weaknesses. See our Annual Report (pages 96 -97) for more information.

ENVIRONMENTAL

Environmental Management Systems
  • EMS provides a disciplined approach to implementing our core environmental policy and evaluating performance.
  • In our forests and manufacturing facilities, we've instituted environmental management systems that meet ISO 14001 standards, but the decision to take the additional step of registering those systems with the ISO depends on the value to the business.
  • As of December 31, 2013, 18 percent of our manufacturing facilities had an EMS registered to ISO 14001, 93 percent of our manufacturing facilities had an “ISO-ready” EMS in place, and 100 percent of our timberlands had an EMS aligned to ISO 14001.
Forest and Product Certification

SAFETY

Weyerhaeuser Safety Strategy & Framework
  • These guidelines detail our commitment to driving lasting improvement in safety in all our operations.
Safety and Health Information Management System
  • This is our safety incident tracking system, which enables us to investigate information, track the progress of corrective actions, analyze company trends, and identify potential future risks in health and safety performance.
Health and Safety Exchange
  • This is the basis for our audit system that assesses a facility's ability to identify, manage and control health and safety risks.

Last updated June 6, 2014