Weyerhaeuser (NYSE: WY)is teaming with The Nature Conservancy and Conservation International, and with other corporations, in an alliance to conserve forests using carbon markets. The primary purpose of the Climate, Community and Biodiversity Alliance (CCBA) is to create a set of standards for evaluating projects that will help mitigate climate change, while benefiting local communities and protecting or restoring biodiversity.

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"We were attracted to the CCBA because one result of its work is the conservation of forests that might otherwise be threatened," said Cassie Phillips, Weyerhaeuser's vice president of forest and product sustainability. "We already practice sustainable forestry on land we manage, oppose illegal logging worldwide, and don't import or sell products from endangered forests. Our support of CCBA is another way to promote responsible forest management."

Growing public concern about climate change has sparked recognition of forests as carbon "sinks" -- places that absorb and store carbon dioxide drawn from the atmosphere. But for governments, corporations and non-profit organizations to be willing to invest time and money in projects that protect forests as carbon sinks, the social and climate benefits need to be more readily quantifiable. Standards are needed to judge whether a project is environmentally sound and beneficial to the local community. Potential project investors need a reliable method to compare one project against another.

The CCBA was formed in 2003 to meet these needs. It has developed a set of standards to identify the best carbon sink projects in which to invest. The standards can be used to rate projects in three key areas: how much carbon they store, the benefit to plants and wildlife, and the social and economic benefits to local communities. The standards were completed this spring after a two year stakeholder process and were recently sanctioned by the reforestation agency within the Peoples Republic of China.

Weyerhaeuser believes the international effort to understand and address the climate change issue creates a need to explore options, such as sequestering carbon in forests, which the CCBA standards address. "We also think it's important to conserve forests that are threatened," said Phillips. "These are interdependent issues, and the CCBA initiative offers us a unique opportunity to make a contribution to both needs.

"We appreciate Weyerhaeuser's support of the alliance," said John O. Nile, CCBA project manager. "This is a critical time as we move the CCB standards into the real world."

In addition to Weyerhaeuser, the members of the CCBA are Conservation International, The Nature Conservancy, Pelangi, the Hamburg Institute of International Economics, British Petroleum, GFA Terra, Intel and SC Johnson.

Weyerhaeuser Company, one of the world's largest integrated forest products companies, was incorporated in 1900. In 2004, sales were $22.7 billion. It has offices or operations in 19 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities. Additional information about Weyerhaeuser's businesses, products and practices is available at http://www.weyerhaeuser.com/ .

For more information contact:

Charlie Gadzik, 253-924-2882

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SOURCE: Weyerhaeuser Company

CONTACT: Charlie Gadzik of Weyerhaeuser Company, +1-253-924-2882

Web site: http://www.weyerhaeuser.com/