Climate-related financial disclosures (TCFD)

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Table key:

SR – Sustainability 2020
FR – Financials 2020
ST – Strategy 2020
CG – Governance 2020

Disclosure focus area Recommended disclosure Key locations and comments
I - GOVERNANCE
a) Describe the board's oversight of climate-related risks and opportunities

CG: Board of Directors, The Board of Directors' and management's annual working cycle
FR: Risks and risk management - Risk governance
SR: Sustainability governance


b) Describe management's role in assessing and managing climate-related risks and opportunities

CG: Management of the Company, The Board of Directors' and management's annual working cycle
SR: Strategy, governance and stakeholders - Sustainability governance
SR: Materials, water and energy - How we work
SR: Carbon dioxide - How we work
SR: Forest, plantations, and land use - How we work


II - STRATEGY
a) Describe the climate-related risks and opportunities the organisation has identified over the short, medium and long term

FR: Report of the Board of Directors - Risk management: Key risks in 2020

  • Global warming - physical risks
  • Strategic investments and related opportunities
  • Competition and market demand
  • Sourcing
  • Physical assets
  • Regulatory changes
  • Forest and land use

ST: Transformation


b) Describe the Impacts of Climate related risks and opportunities on the organisation’s business, strategy and financial planning

FR: Risk management
ST: Transformation
SR: Environmental agenda, Economic agenda


c) Describe the resilience of the organisation’s strategy, taking into consideration different climate-related scenarios, including a 2C or lower scenario

ST: Transformation
FR: Risks and risk management, Scenario analysis in 2020
SR: Environmental agenda, Stora Enso’s GHG performance and scenarios


III - RISK MANAGEMENT
a) Describe the organisation's processes for identifying and assessing climate-related risks

FR: Risks and risk management
SR: Strategy, governance and stakeholders


b) Describe the organisation's processes for managing climate-related risks FR: Risks and risk management
c) Describe how processes for identifying, assessing, and managing climate-related risks are integrated into the organisation's overall risk management FR: Risks and risk management
IV - METRICS AND TARGETS
a) Disclose the metrics used by the organisation to assess climate-related risks and opportunities in line with its strategy and risk management process

SR: Our sustainability targets and key performance indicators
SR: Environmental agenda
ST: Transformation - Positive climate impacts through substituting fossil-based materials


b) Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and the related risks

SR: Carbon dioxide

c) Describe the targets used by the organisation to manage climate-related risks and opportunities and performance against targets SR: Our sustainability targets and key performance indicators

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