Published 4 May 2020
Climate reporting is an essential way for companies to show how they are doing their share to combat global warming. The Task Force on Climate-related Financial Disclosures (TCFD) has made global recommendations on what information companies should disclose to help the financial sector, such as investors and lenders, to see how resilient their strategies are to climate change.
For Stora Enso and the forest products sector, combatting global warming provides significant economic opportunities through working with forests and wood-based products. Tree fibers absorb carbon dioxide from the atmosphere and store carbon throughout their lifetime – also in wood-based products and even through recycling. Stora Enso has calculated the annual substitution potential of its product portfolio to be about 21 million tonnes CO2e – when non-renewable materials are replaced with our products. These opportunities help define the resilience of a company and are essential to climate disclosure. Read more about our total climate benefit in the below-linked report or our Strategy 2019.
In a new report published by the World Business Council for Sustainable Development, the companies that form the TCFD Preparer Forum for Food, Agriculture, and Forest Products, including Stora Enso, share their experiences of implementing the TCFD recommendations through examples of effective practices. Read the report here.