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Stora Enso has integrated sustainability agenda to its funding and financial services. The Group has the long-term aim to secure funding partners that have sustainability as a fundamental part of their agenda. We aim to influence and develop the financial markets to ensure that sustainability becomes an integral part of decisions and credit evaluation.
Stora Enso's Green and Sustainability-Linked Financing Framework launched in May 2023 is based on the Group's sustainability agenda and goals, driving the transformation towards a circular bioeconomy. The framework allows Stora Enso to issue both green and sustainability-linked financing instruments, as well as a combination of the two.
The green financing element of the framework comprises of the following six eligible asset categories:
The categories are designed to promote the transition towards a low-carbon and environmentally sustainable society in accordance with Stora Enso’s sustainability agenda.
The sustainability-linked financing element specifies key performance indicators for Stora Enso’s performance on climate change, biodiversity and circularity.
The Green and Sustainability-Linked Framework has been developed in accordance with the Sustainability-Linked Bond Principles (SLBP) 2020 and Green Bond Principles (GBP) 2021 published by the International Capital Markets Association (ICMA) as well as the Green Loan Principles (GLP) 2023 and Sustainability-Linked Loan Principles (SLLP) 2023 established by APLMA, LMA and the LSTA.
Stora Enso's Green Bond Framework published in 2018 is based on and aligned with the Green Bond Principles (GBP) 2017 published by the International Capital Markets Association (ICMA).
In accordance with the Green Bond Framework, proceeds from Green Bonds will be used solely to finance or refinance projects (going back up to two years) and activities defined under the Eligible Categories presented below.
To be eligible for Green Bond proceeds, the projects must fall within one of the following Eligible Categories as per Stora Enso Green Bond Framework.
1. Sustainable Forest Management
2. Renewable, Low-Carbon, and Eco-Efficient Products, Product Technologies, and Processes
3. Energy Efficiency
4. Renewable Energy and Waste to Energy
5. Sustainable Water Management
6. Waste Management and Pollution Control
For more information on our eligible projects, categories, reporting and impacts, see our Green Bond Framework.
Stora Enso has the long-term aim to secure funding partners that have sustainability as a fundamental part of their agenda. We aim to influence and develop the financial markets to ensure that sustainability becomes an integral part of decisions and credit evaluation. In addition to green bonds described in this report, Stora Enso has an undrawn EUR 700 million Revolving Credit Facility (RCF) loan signed in 2021, where the pricing mechanism is linked to our science-based climate targets.