Home Depot Adopts Wood-Buying Policy
Home improvement retailer Home Depot Inc. said it will buy wood products only from suppliers committed to environmentally friendly logging and lumber practices.
The move expands a policy adopted by the largest U.S. lumber retailer in 1999 to quit selling wood from endangered forests.
Home Depot said it hopes to encourage wood suppliers to follow good forestry practices.
The retailer sells about $5 billion of wood products each year, accounting for about 9% of its annual revenue.
Home Depot shares rose 86 cents to $24.88 on the New York Stock Exchange.
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