We strive to continuously improve our sustainability performance and reporting, and to keep investors informed of our progress, ambitions, and future direction.



In 2018, ESG topics were discussed in 7% of all Stora Enso investor activities. More than 60 external participants, representing 9% of all participants, joined these discussions in one-to-one meetings, conference calls, a group meeting, and a webinar. The focus was on Stora Enso’s sustainability strategy and activities.

In September 2018, Stora Enso’s CFO signed an A4S Statement of Support to promote improved disclosure of climate risks and opportunities. The Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD) recommends a framework for disclosing climate related risks and opportunities that goes beyond current practices. In 2018, we also launched a Green Bond Framework as part of its Sustainable Finance approach. The ambition is to offer a type of loan that supports sustainability-focused fixed-income investors, and to report the direct environmental impacts of some investments and business activities.

How we work

Stora Enso's main shareholders are long-term investors that place high value on sustainable business practices and continuously monitor and evaluate our performance.

We actively maintain open dialogue with our investors on ESG matters through face-to-face meetings, conference calls, seminars, and webcasts. We also regularly share information on our sustainability performance with shareholders in our Interim and Annual Reports, stakeholder letters, web updates, and investor newsletters.

Our policies

  • Disclosure Policy
  • The Stora Enso Code of Conduct

Opportunities and challenges

Investors are increasingly recognising the importance of corporate sustainability in their investment decision-making by exploring ways to integrate environmental, social, and governance (ESG) performance into their investment strategies.  Investors also perceive sustainability as a valuable growth driver for companies and sustainability reporting as an important tool in identifying investment opportunities that can generate long-term shareholder value. Hence, companies are encouraged to aim for more sustainable operations while investors expect financial rewards from their investments.

Stora Enso’s Investor Relations are guided by several laws and regulations, including the EU’s Market Abuse Regulation (MAR), the Finnish Securities Markets Act, Nasdaq rules in Helsinki and Stockholm, and the standards of the Finnish Financial Supervisory Authority.


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Human rights

Our commitment to respect human rights covers all our operations, including our employees, contractors, suppliers, and surrounding communities.