Sylvamo is committed to the highest standards of corporate governance through honesty, transparency, accountability and trust.
How We Make Decisions
At Sylvamo, sustainability strategy, governance and working with various stakeholders aren’t just the responsibility of our sustainability team. Every department across the company plays an important role and it is only when we all move in the same direction that meaningful change will occur. Throughout the company, many different groups are working collectively towards our 2030 goals.
Board Diversity
We believe the diverse experiences and background of our board helps enhance their ability to oversee our business strategies, pressure test our management plans and make recommendations.
4
women, with two of three board committees chaired by women
6
current and two retired CEOs
10
have held executive positions at manufacturing companies
Ethical Business Practices
Ethics is a core value for Sylvamo. We always do the right things, in the right ways, for the right reasons. Ethics guide our actions and cultivate a safe and engaging workplace that positively influences our relationships with each other, our customers, suppliers, investors, the communities where we live and those who rely on our paper. Our values declare what is important to us and play a key role in the pursuit of our vision to be the world’s paper company: the employer, supplier and investment of choice.
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The Nominating and Corporate Governance Committee is responsible for providing oversight and guidance on sustainability and environmental, social and governance (ESG) matters.
Our senior vice president, chief administrative and legal officer is the highest-ranking non-board company executive with direct oversight of climate-related issues. This officer chairs our ESG steering team, a group of cross-functional staff and commercial leaders that guides the company’s sustainability and community engagement strategies, monitors progress and reports directly to the CEO.
Our chief sustainability officer is responsible for guiding and executing our sustainability strategy, including the development and implementation of our 2030 goals. The chief sustainability officer reports directly to the senior vice president, chief administrative and legal officer. The chief sustainability officer leads our ESG Steering Team. In addition, the chief sustainability officer regularly reports to the Nominating and Corporate Governance Committee and to the board of directors (twice annually), provides updates and leads discussions on climate-related issues as well as our voluntary corporate sustainability goals.
The sustainability team, led by our chief sustainability officer, has responsibility for developing and executing our sustainability strategy, as well as leading corporate communications involving climate. Our sustainability, human resources and sourcing teams handle various aspects of sustainability programs in their area. Designated staff at the corporate, business and facility levels help identify, prioritize and manage sustainability-related risks and opportunities.
In addition to the sustainability team, we created a responsible operations working group. This cross-functional group is made up of global manufacturing and technical experts focused on key operational issues related to water and GHG emissions.
Our senior vice president, chief administrative and legal officer is the highest-ranking non-board company executive with direct oversight of climate-related issues. This officer chairs our ESG steering team, a group of cross-functional staff and commercial leaders that guides the company’s sustainability and community engagement strategies, monitors progress and reports directly to the CEO.
Our chief sustainability officer is responsible for guiding and executing our sustainability strategy, including the development and implementation of our 2030 goals. The chief sustainability officer reports directly to the senior vice president, chief administrative and legal officer. The chief sustainability officer leads our ESG Steering Team. In addition, the chief sustainability officer regularly reports to the Nominating and Corporate Governance Committee and to the board of directors (twice annually), provides updates and leads discussions on climate-related issues as well as our voluntary corporate sustainability goals.
The sustainability team, led by our chief sustainability officer, has responsibility for developing and executing our sustainability strategy, as well as leading corporate communications involving climate. Our sustainability, human resources and sourcing teams handle various aspects of sustainability programs in their area. Designated staff at the corporate, business and facility levels help identify, prioritize and manage sustainability-related risks and opportunities.
In addition to the sustainability team, we created a responsible operations working group. This cross-functional group is made up of global manufacturing and technical experts focused on key operational issues related to water and GHG emissions.
Our Board Oversees Our Risk Management Process
The Board exercises oversight responsibility directly and through its committees. The oversight responsibility of the board and its committees is informed by reports from our management team and from our internal audit department that are designed to provide visibility to the board into the identification and assessment of key risks and our risk mitigation strategies.
Sylvamo has an Enterprise Risk Management Council with responsibility for ensuring that people and processes are in place to provide visibility to the board into the identification and assessment of key risks and our risk mitigation strategies. The council is made up of senior vice presidents and vice presidents from major staff functions, coordinated by our vice president of audit.
The council meets on a regular basis to evaluate enterprise risks and appropriate members of management who manage such risks at Sylvamo report how existing risks are monitored, how new risks are identified and evaluated and how risks are addressed. These reports occur on a periodic basis that is at least annual, with more frequent reporting as appropriate depending primarily on the potential severity and likelihood of the risk. Enterprise risks are reviewed with the board and audit committee annually, or more frequently, if necessary. For risk oversight, Sylvamo has a governance system in place where the board of directors and senior management use a system of councils to manage risk and at an operational level for managing the day-to-day and a foundation level by using a system of policies, procedures and controls to manage risk across the company.
Identification and assessment of climate-related risks are evaluated in all relevant areas we operate. By identifying global trends material to our business, we focus our strategy on the issues where we have the greatest impact, such as European (EU) Corporate Sustainability Reporting Directive, United States (US) Securities and Exchange Commission disclosure requirements, US California GHG reporting, EU Green Claims, US Federal Trade Commission Green Guides and Task Force on Climate-related Financial Disclosures. We assess associated risks and opportunities and adjust our tactics when necessary, as part of our deliberate improvement efforts.
The Board exercises oversight responsibility directly and through its committees. The oversight responsibility of the board and its committees is informed by reports from our management team and from our internal audit department that are designed to provide visibility to the board into the identification and assessment of key risks and our risk mitigation strategies.
Sylvamo has an Enterprise Risk Management Council with responsibility for ensuring that people and processes are in place to provide visibility to the board into the identification and assessment of key risks and our risk mitigation strategies. The council is made up of senior vice presidents and vice presidents from major staff functions, coordinated by our vice president of audit.
The council meets on a regular basis to evaluate enterprise risks and appropriate members of management who manage such risks at Sylvamo report how existing risks are monitored, how new risks are identified and evaluated and how risks are addressed. These reports occur on a periodic basis that is at least annual, with more frequent reporting as appropriate depending primarily on the potential severity and likelihood of the risk. Enterprise risks are reviewed with the board and audit committee annually, or more frequently, if necessary. For risk oversight, Sylvamo has a governance system in place where the board of directors and senior management use a system of councils to manage risk and at an operational level for managing the day-to-day and a foundation level by using a system of policies, procedures and controls to manage risk across the company.
Identification and assessment of climate-related risks are evaluated in all relevant areas we operate. By identifying global trends material to our business, we focus our strategy on the issues where we have the greatest impact, such as European (EU) Corporate Sustainability Reporting Directive, United States (US) Securities and Exchange Commission disclosure requirements, US California GHG reporting, EU Green Claims, US Federal Trade Commission Green Guides and Task Force on Climate-related Financial Disclosures. We assess associated risks and opportunities and adjust our tactics when necessary, as part of our deliberate improvement efforts.
