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Open dialogue with our key stakeholders is crucial if we are to successfully identify stakeholder concerns, global trends, and market expectations.
We consider anyone interested in our company a stakeholder. Our key stakeholder groups include:
Open dialogue with key stakeholders is crucial to identify concerns, global trends, and market expectations successfully and proactively. Our stakeholder engagement work is based on both structured and informal interaction, and on regular surveys on topics such as customer and employee satisfaction and investor expectations. We also obtain important information through our formal grievance channels.
When assessing the most relevant topics that influence or are affected by the Group’s value chain, we take into consideration both financial and non-financial risks and opportunities, as well as the Group’s most significant impacts on society and the environment. During 2023, Stora Enso updated its materiality analysis to ensure that it prioritises the most relevant sustainability topics in the implementation of its sustainability agenda, target setting, and reporting. The analysis was built on the previous assessment conducted in 2020. Going forward, the assessment will be updated on an annual basis, in line with the Corporate Sustainability Reporting Directive's requirements.
The outcome of the 2023 assessment confirmed that the most material topics for Stora Enso remain the same as those in 2020, but some areas have grown in importance. Climate change, biodiversity, circularity, and occupational health and safety continue to present the most significant financial risks and opportunities. Value chain related aspects, such as sustainable sourcing, and workers and communities affected by the Group’s activities, have become more material according to the assessment. Based on the outcome, our ambition to develop 100% regenerative solutions by 2050, along with the areas in its sustainability framework focusing on climate change, biodiversity, and circularity, remain valid.
More information on collaboration with Non-Governmental Organisations (NGOs) and our participation in industry and trade organisations can be found in the Annual Report.
