Like almost everything, this announcement sounds more like green washing.

For your wood example, wood is actually a great green resource. It's not like they're cutting down the old growth trees anymore. They selectively cut and they have tree farms. Trees are also not as good of a carbon sync as people tend to think they are. Yes, they absorb carbon over their lifetime, but when they die, they rot and release it back into the atmosphere. The carbon we're worried about is the stuff that came out of the ground that was there for millions of years, which is far longer than a tree lifespan.

You're tight, but I couldn't think of a better term for it. I suspect leather is made with material that is generated not for leather making but as a consequence of the meat industry. And since when is "using the whole animal" a bad thing? Unless I'm wrong and there are animals killed specifically for their leather, that would be pretty fucked up.