Resolute’s commitment to sustainability extends well beyond the jobs we create, the taxes we pay and the charitable support we provide. We are focused on building solid, mutually beneficial business relationships, grassroots support, and positive government and overall community relations through transparency and information-sharing, as well as through active involvement in local organizations and projects. Ensuring the health, safety and well-being of our 7,000 employees helps Resolute attract results-driven and action-oriented talent.
Our business activities have social impacts on a range of stakeholders, from our employees and customers to the communities in which we operate. To ensure the responsible management of our social indicators, we continuously monitor, analyze and update our performance. The following key performance indicators represent required disclosures for our Global Reporting Initiative (GRI) compliant sustainability reporting as they are related to shared priorities identified by internal and external stakeholders.
Direct Economic Impact
The following chart provides an assessment of Resolute’s direct economic impact (in millions of US$).
Direct Economic Impact
(in millions of US$) |
2019 |
2020 |
2021 |
| Direct economic value generated |
|
|
|
| Revenues |
2,923 |
2,800 |
3,664 |
| Economic value generated |
|
|
|
| Operating costs |
2,275 |
2,236 |
2,215 |
| Employee wages and benefits |
503 |
545 |
610 |
| Payments to providers of capital |
|
|
|
| Capital returned to shareholders and distributed to non-controlling interests |
0 |
0 |
79 |
| Interest, fees, and premiums paid to debt holders and lenders |
31 |
34 |
21 |
| Payments to government (per country)* |
|
|
|
| Canada |
3 |
14 |
14 |
| United States |
9 |
8 |
14 |
| Community investments |
2 |
2 |
1 |
| Economic value retained |
100 |
(39) |
631 |
* Includes corporate income taxes; franchise tax; property and school taxes; and non-recoverable sales taxes. Excludes payroll taxes; and countervailing and antidumping duties.
|
In 2021, the estimated direct economic impact of our operations was approximately $1.7 billion from our operations located in Canada, and $1.1 billion from our operations located in the United States. In addition, we actively pursue opportunities to develop partnerships with Indigenous communities and other community members that result in economic benefits for all parties. Resolute’s detailed 2021 financial statements are available in the Financial Reports section of the website.
We also support our operating communities through financial and material contributions as well as our employees’ numerous volunteer hours. In 2021, we achieved our annual commitment to providing at least $1 million in community and charitable support by contributing $1.3 million to various community and academic organizations. For more information on our support for our operating communities, visit our Corporate Philanthropy page.
Job Creation
In 2021, we hired 1,450 employees. In addition, we support small and midsize businesses in communities where we operate, contributing to indirect job creation and local economic development.
Natural Resources Canada estimates that almost 600,000 people are employed directly and indirectly by the forest products industry across Canada. These figures are quite conservative as in the United States, the Economic Policy Institute estimates that for every 100 pulp and paper mill employees, an additional 325 indirect support jobs are generated.
The employment that Resolute generates is particularly important in rural communities. According to the Forest Products Association of Canada (FPAC), more than 650 Canadian communities rely on forestry, representing close to six million people.
Indirect Economic Impact
Resolute believes that investing in the communities where we live and work creates value for all of our stakeholders. The indirect economic impact of our operations is generated by the purchases of necessary supplies such as fiber or electricity, in addition to employee salaries, taxes and donations to the community. Research by the Economic Policy Institute indicates that for every 100 jobs in the paper industry, 325 additional jobs are supported in supplier industries and in local communities due to the re-spending of wages.
In 2021, the indirect economic impact of our operations supported the equivalent of 23,000 full-time jobs.
We also contribute to local economic growth by donating or selling our products to non-profit organizations and local businesses. Examples include paper donated to print quarterly library newsletters, paper provided to an organization to wrap machinery for transport, and providing manufacturing by-products for use as fertilizer in local farmers’ fields.
Supporting Education and Academic Research
Over the years, Resolute has provided substantial financial support to universities and colleges to improve education outcomes in our operating communities and to help spark innovation in the forest products sector. In 2021, Resolute donated funds for scholarships, bursaries and research grants totaling $290,547.
For more information on our support for education and research, visit our Research Partnerships page.