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A value-driven culture promoting honesty, transparency and ethical behaviour is key to Stora Enso’s long-term success.
Stora Enso operates globally, including high-risk markets that offer business opportunities but may entail exposure to serious compliance risks. Measures are taken to help combat corruption, follow international trade sanctions, ensure sound business practices and preserve competitive markets. Laws and regulations place high demands on companies’ control mechanisms, but also help build accountability and trust among stakeholders. Compliance with laws and regulations is what gives a company its license to operate.
We aim to establish a value-driven culture where people are guided by a common moral compass when faced with difficult decisions, act with integrity and speak up against misconduct or unethical behaviour.
Stora Enso's goal for is to maintain a positive trend in the Ethics and Compliance Index. The previous Code Index has been updated to Ethics and Compliance Index, an average of five Ethics and Compliance-related questions in the annual employee survey. In 2022, the Ethics and Compliance Index was 8.7.
In 2022, a total of 140 (98) investigations of potential non-compliance were completed, including open cases from previous years. Proven cases leading to disciplinary action, legal action and/or process improvements were identified in 44 (26) of these. Based on the Group’s categorisation,13 (9) of the proven cases were related to corruption and/or fraud, resulting in employee dismissal or a disciplinary process.
Training on our code of conduct - Stora Enso Code - is mandatory for all employees. In 2022, a mobile friendly Code e-learning was rolled out to reach production workers, now covering all employees, and at the end of the year 92% of all employees had completed the training.
Our Ethics and Compliance Strategy was revised during 2022 to better support the updated Stora Enso strategy, focusing on innovation, growth, and value creation in bioeconomy. A new overall purpose for Ethics and Compliance was adopted: “Building Trust through Integrity”. The new purpose explains how Stora Enso’s long-term success depends on trust and approval from all our stakeholders. Key areas for the culture of integrity are:
Our employees are encouraged to report any suspected cases of misconduct or unethical behaviour. Reporting is done via any of Stora Enso’s grievance channels, by personal contact, e-mail, letter, phone or anonymously via the ‘Speak Up’ Hotline. All cases are investigated and followed up on.
