Stora Enso is the first forest products company to set ambitious greenhouse gas reduction targets

STORA ENSO OYJ INVESTOR NEWS 23 January 2018 at 9.00 EET

The renewable materials company Stora Enso has become the first forest products company to set ambitious science-based greenhouse gas (GHG) emission reduction targets to address significant emissions along the company’s value chain. The targets have been approved by the Science Based Targets initiative.

“For over a decade we have been actively reducing the energy-intensity of our operations and our dependence on fossil fuels,” says Stora Enso CEO Karl-Henrik Sundström. “As a company operating in a bioeconomy and using renewable raw materials, we are in a unique position to take the next step. We are now committing to further reducing our CO2and other greenhouse gas emissions in line with the 2°C limit set for global warming by the Paris Agreement. The new targets coveremissions from our own operations, but also includes engagement targets for our partners all through the value chain.”  

The target commits Stora Enso to reducing greenhouse gas (GHG) emissions from operations by 31% per tonne of pulp, paper and board produced by 2030 from a 2010 base-year. To reduce emissions in the value chain, Stora Enso commits to have 70% of non-fibre suppliers and downstream transportation suppliers in terms of spend set their own GHG reduction targets by 2025, towards the aim that these suppliers adopt science-based GHG reduction targets by 2030. In addition, the company will educate 100% of customer-facing staff on the advantages of setting science-based targets by 2020.

Alexander Liedke, Manager of Sustainable Business & Markets at WWF and member of the Science Based Targets initiative steering committee said, “We congratulate Stora Enso on being the first forest products company to have their science-based targets approved by our team. By setting targets that align their business with global efforts to avoid the worst impacts of climate change, Stora Enso is positioning itself to thrive as the global economy transitions to a low-carbon future. It is particularly encouraging to see Stora Enso working with its suppliers to adopt their own science-based targets, helping to mainstream science-based target setting across the value chain.”

About the Science Based Targets Initiative

Science Based Targets initiative mobilizes companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.sciencebasedtargets.org

For further information, please contact:
Ulrika Lilja, EVP, Communications, tel. +46 72 221 9228
Noel Morrin, EVP, Sustainability, tel. +46 73 076 8898

Investor enquiries:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com 

STORA ENSO OYJ 

For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228

Noel Morrin
EVP, Sustainability
tel. +46 73 076 8898

Investor enquiries:
Ulla Paajanen-Sainio
SVP, Investor Relations
tel. +358 40 763 8767