Stora Enso Releases 2023 Green Financing Report Highlighting Environmental Impact

Stora Enso Releases 2023 Green Financing Report Highlighting Environmental Impact

(IN BRIEF) Stora Enso has released its Green and Sustainability-Linked Financing Report for 2023, highlighting the allocation of proceeds from green bonds and bilateral loans. The report details the environmental benefits achieved through projects in sustainable forest management and product processes. With EUR 2,594 million in total nominal value across fourteen outstanding bonds, the report emphasizes Stora Enso’s commitment to mitigating climate change and promoting the circular bioeconomy. The report and framework are available on Stora Enso’s website.

(PRESS RELEASE) HELSINKI, 28-Mar-2024 — /EuropaWire/ —Stora Enso (HEL: STERV), a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper, unveils its latest Green and Sustainability-Linked Financing Report for the fiscal year 2023, showcasing the tangible outcomes of its green bonds in driving environmental sustainability. The report meticulously outlines the allocation of proceeds from green bonds and bilateral loans, illuminating the transformative environmental benefits they have facilitated.

As of the conclusion of 2023, Stora Enso proudly held fourteen outstanding green bonds or bilateral loans, amounting to a substantial EUR 2,594 million in total nominal value. These funds were meticulously channeled into projects falling within two key eligible categories under Stora Enso’s Green and Sustainability-Linked Financing Framework: Sustainable forest management and Sustainable product processes. The report meticulously delineates the specific initiatives financed by these proceeds, shedding light on the remarkable environmental impacts they have engendered.

Kaarlo Höysniemi, Senior Vice President of Group Treasury at Stora Enso, underscores the significance of the report, stating, “The report offers insights into our financing practices aligned with our sustainability targets and outlines how investors contribute to our journey. It highlights Stora Enso’s potential to mitigate climate change and promote the circular bioeconomy through forests that sequester carbon and wood-based products replacing fossil-based alternatives,”

The comprehensive Green and Sustainability-Linked Financing Report, alongside the Framework, is readily accessible on Stora Enso’s official website, storaenso.com, offering stakeholders transparent access to the company’s sustainable financing initiatives.

The Green and Sustainability-Linked Financing Report and Framework are available on storaenso.com.

For further information, please contact:
Kaarlo Höysniemi
SVP Group Treasury
tel. +358 400 251 179

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

SOURCE: STORA ENSO OYJ