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CLEARWATER PAPER CORP

CLW

Materials

1

exclusion reason

1 theme

Environmental Harm (1)
CLW Materials Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Climate Intransigence
Since Mar 12, 2026

Clearwater Paper Corporation has no publicly disclosed science-based climate target, net-zero commitment, or transition plan aligned with the Paris Agreement. As a manufacturer of pulp and paper products, its operations are energy-intensive and generate significant greenhouse gas emissions, yet the company provides no substantive roadmap for reducing them.

The company has a documented history of environmental violations related to its air emissions. In 2015, the United States Environmental Protection Agency filed a lawsuit against Clearwater Paper, alleging violations of the Clean Air Act for failing to control emissions of total reduced sulfur and hazardous air pollutants at its Lewiston, Idaho facility. The company settled the case, which was noted in subsequent scientific research on local air quality impacts.

This absence of forward-looking climate governance, coupled with a past enforcement action for air pollution, demonstrates a lack of proactive management on climate and emissions. For a company in a carbon-intensive sector, the failure to establish and disclose a credible, quantitative decarbonization strategy constitutes climate intransigence.

Research Sources 1 organization
Climate Transition Pathway
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.