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Sustainable finance

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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. 

Green and Sustainability-Linked Financing Framework

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:

  1. Sustainable forest management
  2. Sustainable product processes
  3. Energy efficiency
  4. Renewable energy and waste to energy
  5. Sustainable water management
  6. Waste management and pollution control.

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 eligibility criteria for the allocation of proceeds from green bonds issued before 2023 under the Green Bond Framework 2018r remain unchanged. Only the category names have been aligned with the framework published in 2023.

The sustainability-linked financing element specifies key performance indicators for Stora Enso’s performance on climate change, circularity, and biodiversity.

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.

Green and Sustainability-Linked Financing Report 2023

Green bond report 2023

At the end of 2023, Stora Enso had fourteen outstanding green bonds or bilateral loans, with a total nominal amount of EUR 2,594 million. The proceeds fall into two of the eligible categories associated with Stora Enso’s Green and Sustainability-Linked Financing Framework: Sustainable forest management and Sustainable product processes. The report describes the projects financed with the proceeds and the environmental impacts achieved.  

Green and Sustainability-Linked Financing Report 2023

Sustainable finance contact

Kaarlo Höysniemi

Kaarlo Höysniemi

SVP Group Treasury
CFO Office

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