STORA ENSO: Update on the progress of harvesting site inspections in Finland following the environmental violation in Hukkajoki river

STORA ENSO OYJ PRESS RELEASE 28 August 2024 at 16:00 EEST

An environmental violation was discovered at a Stora Enso harvesting site on Thursday 15 August, at the Hukkajoki river in Kainuu, Finland. The violation is being investigated as a serious nature conservation crime. Stora Enso has announced a number of measures it has taken to ensure that similar incidents do not happen again.

Stora Enso has suspended harvesting in all areas throughout Finland where there are restrictions under the Water Act, the Forest Act or the Nature Conservation Act. Harvesting has been suspended until the operational guidelines, harvesting plans and risks related to these sites have been reassessed. Any non-compliance that may be detected will be assessed in cooperation with the authorities. In addition to ongoing logging operations, Stora Enso is also inspecting completed harvesting operations in sensitive nature areas.

Any possible non-compliances will be reported to the local environmental authorities (ELY Centre in Finland) at a very low threshold. To date, one new suspected non-compliance has been detected at one stream site, which Stora Enso has today reported to the Kainuu ELY Centre. The stream in question is inhabited by freshwater pearl mussels. In this case, there is reason to suspect that neither the ELY Centre's nor Stora Enso's own instructions were followed when crossing the stream.

Stora Enso is swiftly carrying out its inspections of the above-mentioned harvesting sites as well as conducting an internal investigation with high priority. The aim of the inspections and investigation is to determine how to improve the company's operating practices and processes.

Stora Enso will continue to publish information of any potential notifications to the ELY Centre related to the ongoing inspections due to the social significance of the case. Stora Enso will also provide information on the conclusions of the internal investigation and inspections into the Hukkajoki event, i.e. the measures the company sees necessary to ensure that something similar does not happen again.
 

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors 

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