Reinvesting in our business to innovate and modernize the technology in our mills has been a key business priority for West Fraser since the inception of our company. Our strategic focus is to recover the maximum lumber from every log and to utilize the co-products of our solid wood business to produce pulp, composite wood products and bioproducts.
The United Nations Intergovernmental Panel on Climate Change accepts that the combustion of wood biomass for energy from countries with sustainable forests does not increase atmospheric carbon. West Fraser plants more than 50 million trees a year that absorb carbon from the atmosphere. Biomass sourced from our sustainably managed forests can contribute to the reduction of greenhouse gas emissions.
Our energy and bioproducts initiatives aim to substitute fossil fuels by utilizing carbon-neutral biomass fuels such as bark, wood residuals and other wood co-products of our manufacturing process. Today, a significant portion of our energy needs are met through renewable biomass fuel sources located at many of our facilities. Ongoing innovative areas of research are exploring new methods of using wood byproducts, including enhanced carbon and cellulose bio-composites.