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We believe that the key to combatting climate change involves the use of renewable materials, resource and energy-efficient production processes, and sustainable forest management practices.
Our products help our customers and society at large to reduce their CO2 emissions by providing alternatives to fossil-based and other non-renewable materials. Trees in sustainably managed forests absorb carbon dioxide (CO2) from the atmosphere and, together with wood-based products, act as carbon storage, even through recycling.
It is our goal to help the global community to stay below the 1,5° degree scenario. An important milestone on the road to becoming net positive in 2050 are the 2030 targets. Our 2030 targets are part of the Science Based Targets initiative (SBTi) that drives ambitious climate action in the private sector. They provide a clearly defined science-based pathway to reducing emissions, and we were the first forestry company to set them.
Stora Enso’s updated science-based target (SBT) is to reduce absolute scope 1 and 2 greenhouse gas (GHG) emissions from operations by 50% by 2030 from the 2019 base year, in line with the 1.5-degree scenario. Stora Enso also commits to an ambitious target to reduce scope 3 GHG emissions by 50% by 2030 from the 2019 base year. The SBTs have been approved by the Science Based Targets initiative, a partnership between CDP (Carbon Disclosure Project), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). By the end of Q3/2021 (YTD) we achieved a GHG reduction of -14%.
In 2021, direct emissions from operations (scope 1) accounted for 21% of Stora Enso’s carbon footprint, while emissions related to electricity and heat purchased for use in operations (scope 2) accounted for 2% of the total carbon emissions. An estimated 77% of the emissions in the carbon footprint were generated elsewhere along the value chain.
In February 2021, Stora Enso was top-ranked in greenhouse gas management by the Transition Pathway Initiative for the fourth time in a row. The Transition Pathway Initiative (TPI ), an asset owner-led initiative, evaluates and tracks the quality of companies’ management of greenhouse gas emissions and of risks and opportunities related to the low-carbon transition. It also evaluates how companies’ future carbon performance would compare to the international targets and national pledges made as part of the Paris Agreement. In its assessment of how 23 paper producers globally are preparing for the transition to a low-carbon economy, TPI top-ranked Stora Enso in both management quality and carbon performance.
For the sixth consecutive year, a level of reasonable assurance was provided for Stora Enso's reporting on direct and indirect fossil CO2 emissions (scopes 1 and 2) in 2021.
The most effective ways to reduce our direct fossil CO2 emissions are to further improve our energy-efficiency, and to continue to increase our use of biomass fuels. For over a decade, we have been actively reducing the energy intensity of our operations – and in many places also our dependency on fossil fuels.
Stora Enso evaluates risk and opportunities related to global warming through the Enterprise Risk Management (ERM) process, which forms an integral part of our management approach. We also routinely calculate the financial impacts of potential cost increases in relation to emission allowances and energy prices. For more information on Stora Enso’s reporting according to TCFD recommendations within the categories of governance, strategy, risk management and metrics, see the Climate-related financial disclosure (TCFD) index from the Annual Report 2021.