Årsredovisning 2025

regulations. Stora Enso has formal traceability systems in place to ensure 
that the origin of purchased wood and pulp is known. These traceability 
systems are third-party verified through the FSC Chain of Custody/
Controlled Wood scheme, the PEFC Chain of Custody/Due Diligence 
System, and ISO 14001. Most of the pulp used in operations is produced 
internally at the Group’s mills. Stora Enso also purchases pulp from external 
suppliers for reasons related to quality and logistics. Pulp purchased from 
external suppliers is covered by Stora Enso’s traceability systems. However, 
the new European Deforestation Regulation (EUDR) increases the 
requirements for Stora Enso.
Some of Stora Enso’s production units are located near biodiversity- 
sensitive areas, such as Natura 2000, but these sites do not actively 
contribute to the deterioration of natural habitats due to strict 
environmental permitting processes. The biodiversity-related impacts 
and risks connected to production units are described in ESRS E2 and ESRS 
E3. Whenever a new industrial unit is established or production capacities 
are increased, Stora Enso ensures that the project plan undergoes an 
environmental impact assessment including a thorough evaluation of 
biodiversity-sensitive areas. The assessment is used to determine 
significant impacts. To identify biodiversity-sensitive sites, Stora Enso 
screened all of its production site locations by applying the IBAT 
assessment tool to create an overview of key biodiversity areas located in 
conjunction with its industrial operations.
The Group’s own forests and upstream harvesting sites may also be near 
or located in biodiversity-sensitive areas. The impacts on biodiversity-
sensitive areas are described in ESRS E4 SBM-3.
Stora Enso acknowledges the necessity of implementing measures to 
mitigate any negative effects on biodiversity. These are part of the Group’s 
ways of working and are further described in ESRS E4-3. 
Resource use and circularity (E5: ESRS 2 IRO-1)
The assessment covered impacts related to the Group’s resource use 
across its whole value chain due to significant volumes of resource inflows, 
outflows and waste (sourced raw materials, waste, products produced, 
and end-of-life of products). Since Stora Enso and its upstream value 
chain are responsible for raw material extraction, the downstream value 
chain was not considered material in the assessment. Resource outflows 
and product-related impacts were assessed using Life Cycle Assessments 
and Environmental Product Declarations, carried out by Stora Enso’s 
experts and customers, often in collaboration with academia, expert 
organisations, or industry associations.
Stora Enso advances the circular economy through its renewable 
products and solutions, with partnerships and business relationships 
playing a key role in enabling these positive impacts. At the same time, 
the Group recognises negative impacts linked to raw material sourcing 
and waste generation.
When identifying opportunities in the circular economy, Stora Enso referred 
to its 2021 circularity transition plan, which recognised financial potential in 
the downstream value chain through products and solutions that help 
customers meet rising demand for sustainable goods. By leveraging its 
strong customer relationships and deep understanding of market needs, 
the Group designs functional products that create value throughout their 
lifecycle.
Risks were screened as part of the Enterprise Risk Management process 
and analysis of Stora Enso’s transition plan. Political decisions on forest 
resources could limit wood availability, raise costs, and hinder investments. 
Regulations may also restrict the production of single-use products, even 
those made from fiber-based materials. In addition, rising demand for 
biobased materials, especially wood-based raw materials, could lead to 
supply shortages.
Affected stakeholders were not directly consulted in the double materiality 
assessment, but their perspectives were represented through internal 
subject matter experts and customer surveys. 
Business conduct (G1: ESRS 2 IRO-1)
The assessment of business conduct–related topics incorporated internal 
interviews across Group Legal and the Group CFO Office, global data from 
the company’s whistleblower system, and insights from the annual 
employee survey.
Ethics and compliance risks are assessed as part of Stora Enso’s overall 
risk assessment procedure, outlined in the Enterprise Risk Management 
instructions. The Ethics and Compliance Self-Assessment Tool (T.E.S.T.) 
provides business units and functions with an overview of their progress in 
implementing policies and compliance measures, while also identifying 
and managing possible gaps and risks. 
The double materiality assessment also incorporated findings from 
counterparty screenings and categorisation of high-risk countries to 
support the identification of material risks. Trade sanction controls and  
high-risk countries are disclosed in ESRS G1-1.
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Requirements in ESRS covered by the undertaking’s sustainability statement (ESRS IRO-2)
The below table presents a list of the disclosure requirements compiled in the Sustainability Statement. The material information has been determined based on the material impacts, risks and opportunities resulting from the Group’s 
materiality assessment. After identifying material topical standards, the materiality was assessed on disclosure requirement and data point level. The materiality assessment process and the use of thresholds is described in ESRS 2 IRO-1. 
General information
ESRS 2 BP-1 General basis for preparation of sustainability statements 69
ESRS 2 BP-2 Disclosures in relation to specific circumstances 69
ESRS 2 GOV-1 The role of the administrative, management
and supervisory bodies
70
ESRS 2 GOV-2 Information provided to and sustainability matters addressed by the undertaking’s 
administrative, management and supervisory bodies
71
ESRS 2 GOV-3 Integration of sustainability-related performance in incentive schemes 71
ESRS 2 GOV-4 Statement on due diligence 71
ESRS 2 GOV-5 Risk management and internal controls over sustainability reporting 72
ESRS 2 SBM-1 Strategy, business model and value chain 72
ESRS 2 SBM-2 Interests and views of stakeholders 74
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and 
business model
75
ESRS 2 IRO-1 Description of the process to identify and assess material impacts, risks and 
opportunities
77
ESRS 2 IRO-2 disclosure requirements in ESRS covered by the undertaking’s sustainability statement 81
Environmental information
E1 Climate change ESRS 2 GOV-3 Integration of sustainability-related performance in incentive schemes 71
E1 Climate change E1-1 Transition plan for climate change mitigation 92
E1 Climate change ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and 
business model
92
E1 Climate change ESRS 2 IRO-1 Description of the processes to identify and assess material climate-related 
impacts, risks and opportunities
77
E1 Climate change E1-2 Policies related to climate change mitigation and adaptation 93
E1 Climate change E1-3 Actions and resources in relation to climate change policies 93
E1 Climate change E1-4 Targets related to climate change mitigation and adaptation 95
E1 Climate change E1-5 Energy consumption and mix 96
E1 Climate change E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions 97
E1 Climate change E1-7 GHG removals and GHG mitigation projects financed through carbon credits 99
ESRS Disclosure requirement Page
E1 Climate change E1-9 Anticipated financial effects from material physical and transition risks and potential 
climate-related opportunities
99
E2 Pollution ESRS 2 IRO-1 Description of the processes to identify and assess material pollution-related 
impacts, risks and opportunities
77
E2 Pollution E2-1  Policies related to pollution 101
E2 Pollution E2-2 Actions and resources related to pollution 101
E2 Pollution E2-3 Targets related to pollution 102
E2 Pollution E2-4 Pollution of air, water and soil 103
E3 Water and marine resources ESRS 2 IRO-1 Description of the processes to identify and assess material water and marine 
resources-related impacts, risks and opportunities
77
E3 Water and marine resources E3-1 Policies related to water and marine resources 104
E3 Water and marine resources E3-2 Actions and resources related to water and marine resources 104
E3 Water and marine resources E3-3 Targets related to water and marine resources 105
E3 Water and marine resources E3-4 Water consumption 105
E4 Biodiversity and ecosystems E4-1 Transition plan and consideration of biodiversity and ecosystems in strategy and 
business model
106
E4 Biodiversity and ecosystems ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and 
business model
106
E4 Biodiversity and ecosystems IRO-1 Description of processes to identify and assess material biodiversity and ecosystem-
related impacts, risks and opportunities
77
E4 Biodiversity and ecosystems E4-2 Policies related to biodiversity and ecosystems 107
E4 Biodiversity and ecosystems E4-3 Actions and resources related to biodiversity and ecosystems 107
E4 Biodiversity and ecosystems E4-4 Targets related to biodiversity and ecosystems 108
E4 Biodiversity and ecosystems E4-5 Impact metrics related to biodiversity and ecosystems change 110
E5 Resource use and circular 
economy
ESRS 2 IRO-1 Description of the processes to identify and assess material resource use and 
circular economy-related impacts, risks and opportunities
77
E5 Resource use and circular 
economy
E5-1 – Policies related to resource use and circular economy 112
E5 Resource use and circular 
economy
E5-2 – Actions and resources related to resource use and circular economy 112
E5 Resource use and circular 
economy
E5-3 – Targets related to resource use and circular economy 113
ESRS Disclosure requirement Page
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E5 Resource use and circular 
economy
E5-4 – Resource inflows 114
E5 Resource use and circular 
economy
E5-5 – Resource outflows 115
Social information
S1 Own workforce ESRS 2 SBM-2 Interests and views of stakeholders 74
S1 Own workforce ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and 
business model
116
S1 Own workforce S1-1 Policies related to own workforce 117
S1 Own workforce S1-2 Processes for engaging with own workforce and workers’ representatives about impacts118
S1 Own workforce S1-3 Processes to remediate negative impacts and channels for own workforce to raise 
concerns
118
S1 Own workforce S1-4 Taking action on material impacts on own workforce, and approaches to managing 
material risks and pursuing material opportunities related to own workforce, and 
effectiveness of those actions
119
S1 Own workforce S1-5 Targets related to managing material negative impacts, advancing positive impacts, 
and managing material risks and opportunities
119
S1 Own workforce S1-6 Characteristics of the undertaking’s employees 120
S1 Own workforce S1-8 Collective bargaining coverage and social dialogue 121
S1 Own workforce S1-9 Diversity metrics 121
S1 Own workforce S1-10 – Adequate wages 121
S1 Own workforce S1-14 – Health and safety metrics 121
S1 Own workforce S1-16 – Remuneration metrics (pay gap and total remuneration) 122
S1 Own workforce S1-17 – Incidents, complaints and severe human rights impacts 122
S2 Workers in the value chain SBM-2 Interests and views of stakeholders 74
S2 Workers in the value chain SBM-3 Material impacts, risks and opportunities and their interaction with strategy and 
business model
123
S2 Workers in the value chain S2-1 Policies related to value chain workers 123
S2 Workers in the value chain S2-2 Processes for engaging with value chain workers about impacts 124
S2 Workers in the value chain S2-3 Processes to remediate negative impacts and channels for value chain workers to raise 
concerns
124
S2 Workers in the value chain S2-4 Taking action on material impacts on value chain workers, and approaches to 
managing material risks and pursuing material opportunities related to value chain workers, 
and effectiveness of those action
124
S2 Workers in the value chain S2-5 Targets related to managing material negative impacts, advancing positive impacts, 
and managing material risks and opportunities
125
S3 Affected communities ESRS 2 SBM-2 – Interests and views of stakeholders 74
S3 Affected communities ESRS 2 SBM-3 - Material impacts, risks and opportunities and their interaction with strategy 
and business mode
126
ESRS Disclosure requirement Page
S3 Affected communities S3-1 – Policies related to affected communities 126
S3 Affected communities S3-2 – Processes for engaging with affected communities about impacts 127
S3 Affected communities S3-3 – Processes to remediate negative impacts and channels for affected communities to 
raise concerns
127
S3 Affected communities S3-4 – Taking action on material impacts on affected communities, and approaches 128
S3 Affected communities S3-5 – Targets related to managing material negative impacts, advancing positive 
effectiveness of those actions
128
Governance information
G1 Business Conduct GOV-1 The role of the administrative, supervisory and management bodies 70
G1 Business Conduct ESRS 2 IRO-1 Description of the processes to identify and assess material impacts, risks and 
opportunities
77
G1 Business Conduct G1-1 Business conduct policies and corporate culture 129
G1 Business Conduct G1-3 Prevention and detection of corruption and bribery 130
G1 Business Conduct G1-4 Incidents of corruption or bribery 132
ESRS Disclosure requirement Page
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List of data points in cross-cutting and topical standards that derive from other EU legislation
ESRS 2 GOV-1 Board’s gender diversity paragraph 21 (d) Indicator number 13 of Table #1 of Annex 1 Commission Delegated Regulation (EU) 
2020/1816 ( 27 ), Annex II
page 70
ESRS 2 GOV-1 Percentage of board members who are 
independent paragraph 21 (e)
Delegated Regulation (EU) 2020/1816, 
Annex II
page 70
ESRS 2 GOV-4 Statement on due diligence paragraph 30 Indicator number 10 Table #3 of Annex 1 page 71
ESRS 2 SBM-1 Involvement in activities related to fossil fuel 
activities paragraph 40 (d) i
Indicator number 4 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816, 
Annex II
n/a
ESRS 2 SBM-1 Involvement in activities related to chemical 
production paragraph 40 (d) ii
Indicator number 9 Table #2 of Annex 1 Delegated Regulation (EU) 2020/1816, 
Annex II
n/a
ESRS 2 SBM-1 Involvement in activities related to 
controversial weapons paragraph 40 (d) iii
Indicator number 14 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1818 ( 29 ), 
Article 12(1) Delegated Regulation 
(EU) 2020/1816, Annex II
n/a
ESRS 2 SBM-1 Involvement in activities related to cultivation 
and production of tobacco paragraph 40 (d) iv
Article 449a Regulation (EU) No 575/2013;
Commission Implementing Regulation (EU) 
2022/2453 ( 28 ) Table 1: Qualitative 
information on Environmental risk and 
Table 2: Qualitative information on 
Social risk
Delegated Regulation (EU) 2020/1818, 
Article 12(1) Delegated Regulation 
(EU) 2020/1816, Annex II
n/a
ESRS E1-1 Transition plan to reach climate neutrality by 2050 
paragraph 14
Regulation (EU) 2021/1119, Article 2(1) page 92
ESRS E1-1 Undertakings excluded from Paris-aligned 
Benchmarks paragraph 16 (g)
Article 449a
Regulation (EU) No 575/2013; Commission 
Implementing Regulation (EU) 2022/2453 
Template 1: Banking book-Climate Change 
transition risk: Credit quality of exposures 
by sector, emissions and residual maturity
Delegated Regulation (EU) 2020/1818, 
Article12.1 (d) to (g), and Article 12.2
page 92
ESRS E1-4 GHG emission reduction targets paragraph 34 Indicator number 4 Table #2 of Annex 1 Article 449a
Regulation (EU) No 575/2013; Commission 
Implementing Regulation (EU) 2022/2453 
Template 3: Banking book – Climate 
change transition risk: alignment metrics
Delegated Regulation (EU) 2020/1818, 
Article 6
page 94
ESRS E1-5 Energy consumption from fossil sources 
disaggregated by sources (only high climate impact 
sectors) paragraph 38
Indicator number 5 Table #1 and Indicator 
n. 5 Table #2 of Annex 1
page 96
ESRS E1-5 Energy consumption and mix paragraph 37 Indicator number 5 Table #1 of Annex 1 page 97
ESRS E1-5 Energy intensity associated with activities in high 
climate impact sectors paragraphs 40 to 43
Indicator number 6 Table #1 of Annex 1 page 97
Disclosure requirement and related data point SFDR reference Pillar 3 reference Benchmark Regulation  reference EU Climate Law reference Location in the Sustainability Statement
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ESRS E1-6 Gross Scope 1, 2, 3 and Total GHG emissions 
paragraph 44
Indicators number 1 and 2 Table #1 of 
Annex 1
Article 449a; Regulation (EU) No 575/2013; 
Commission Implementing Regulation (EU) 
2022/2453 Template 1: Banking book – 
Climate change transition risk: Credit 
quality of exposures by sector, emissions 
and residual maturity
Delegated Regulation (EU) 2020/1818, 
Article 5(1), 6 and 8(1)
page 99
ESRS E1-6 Gross GHG emissions intensity 
paragraphs 53 to 55
Indicator number 3 Table #1 of Annex 1 Article 449a Regulation (EU) No 575/2013; 
Commission Implementing Regulation (EU) 
2022/2453 Template 3: Banking book – 
Climate change transition risk: 
alignment metrics
Delegated Regulation (EU) 2020/1818, 
Article 8(1)
page 99
ESRS E1-7 GHG removals and carbon credits paragraph 56 Regulation (EU) 2021/1119, Article 2(1) page 99
ESRS E1-9 Exposure of the benchmark portfolio to climate-
related physical risks paragraph 66
Delegated Regulation (EU) 2020/1818, 
Annex II Delegated Regulation 
(EU) 2020/1816, Annex II
pages 99-100 (only qualitative disclosure)
ESRS E1-9 Disaggregation of monetary amounts by acute 
and chronic physical risk paragraph 66 (a)
ESRS E1-9 Location of significant assets at material physical 
risk paragraph 66 (c)
Article 449a Regulation (EU) No 575/2013; 
Commission Implementing Regulation (EU) 
2022/2453 paragraphs 46 and 47; 
Template 5: Banking book - Climate 
change physical risk: Exposures subject to 
physical risk.
pages 99-100 (only qualitative disclosure)
ESRS E1-9 Breakdown of the carrying value of its real estate 
assets by energy-efficiency classes paragraph 67 (c).
Article 449a Regulation (EU) No 575/2013; 
Commission Implementing Regulation 
(EU) 2022/2453 paragraph 34;Template 
2:Banking book -Climate change transition 
risk: Loans collateralised by immovable 
property - Energy efficiency of 
the collateral
pages 99-100 (only qualitative disclosure)
ESRS E1-9 Degree of exposure of the portfolio to climate- 
related opportunities paragraph 69
Delegated Regulation (EU) 2020/1818, 
Annex II
pages 99-100 (only qualitative disclosure)
ESRS E2-4 Amount of each pollutant listed in Annex II of 
the E-PRTR Regulation (European Pollutant Release and 
Transfer Register) emitted to air, water and soil, 
paragraph 28
Indicator number 8 Table #1 of Annex 1 
Indicator number 2 Table #2 of Annex 1 
Indicator number 1 Table #2 of Annex 1 
Indicator number 3 Table #2 of Annex 1
page 103
ESRS E3-1 Water and marine resources paragraph 9 Indicator number 7 Table #2 of Annex 1 page 14
ESRS E3-1 Dedicated policy paragraph 13 Indicator number 8 Table 2 of Annex 1 page 104
ESRS E3-1 Sustainable oceans and seas paragraph 14 Indicator number 12 Table #2 of Annex 1 Not material
ESRS E3-4 Total water recycled and reused paragraph 28 (c) Indicator number 6.2 Table #2 of Annex 1 page 105
ESRS E3-4 Total water consumption in m3 per net revenue on 
own operations paragraph 29
Indicator number 6.1 Table #2 of Annex 1 page 105
ESRS 2 SBM-3 - E4 paragraph 16 (a) i Indicator number 7 Table #1 of Annex 1 page 106
ESRS 2 SBM-3 - E4 paragraph 16 (b) Indicator number 10 Table #2 of Annex 1 page 106
ESRS 2 SBM-3 - E4 paragraph 16 (c) Indicator number 14 Table #2 of Annex 1 page 106
ESRS E4-2 Sustainable land / agriculture practices 
or policies paragraph 24 (b)
Indicator number 11 Table #2 of Annex 1 page 107
Disclosure requirement and related data point SFDR reference Pillar 3 reference Benchmark Regulation  reference EU Climate Law reference Location in the Sustainability Statement
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ESRS E4-2 Sustainable oceans / seas practices or policies 
paragraph 24 (c)
Indicator number 12 Table #2 of Annex 1 Not material
ESRS E4-2 Policies to address deforestation paragraph 24 (d)Indicator number 15 Table #2 of Annex 1 page 107
ESRS E5-5 Non-recycled waste paragraph 37 (d) Indicator number 13 Table #2 of Annex 1 page 115
ESRS E5-5 Hazardous waste and radioactive waste 
paragraph 39
Indicator number 9 Table #1 of Annex 1 page 115
ESRS 2 SBM-3 - S1 Risk of incidents of forced labour 
paragraph 14 (f)
Indicator number 13 Table #3 of Annex I page 116
ESRS 2 SBM-3 - S1 Risk of incidents of child labour 
paragraph 14 (g)
Indicator number 12 Table #3 of Annex I page 116
ESRS S1-1 Human rights policy commitments paragraph 20 Indicator number 9 Table #3 and Indicator 
number 11 Table #1 of Annex I
page 117
ESRS S1-1 Due diligence policies on issues addressed by the 
fundamental International Labor Organisation Conventions 1 
to 8, paragraph 21
Delegated Regulation (EU) 2020/1816, 
Annex II
page 117
ESRS S1-1 processes and measures for preventing trafficking 
in human beings paragraph 22
Indicator number 11 Table #3 of Annex I page 117
ESRS S1-1 workplace accident prevention policy or 
management system paragraph 23
Indicator number 1 Table #3 of Annex I page 117
ESRS S1-3 grievance/complaints handling mechanisms 
paragraph 32 (c)
Indicator number 1 Table #3 of Annex I page 118
ESRS S1-14 Number of fatalities and number and rate of work-
related accidents paragraph 88 (b) and (c)
Indicator number 2 Table #3 of Annex I Delegated Regulation (EU) 2020/1816, 
Annex II
page 122
ESRS S1-14 Number of days lost to injuries, accidents, fatalities 
or illness paragraph 88 (e)
Indicator number 3 Table #3 of Annex I Phased-in, not disclosed in 2025
ESRS S1-16 Unadjusted gender pay gap paragraph 97 (a) Indicator number 12 Table #1 of Annex I Delegated Regulation (EU) 2020/1816, 
Annex II
page 122
ESRS S1-16 Excessive CEO pay ratio paragraph 97 (b) Indicator number 8 Table #3 of Annex I page 122
ESRS S1-17 Incidents of discrimination paragraph 103 (a) Indicator number 7 Table #3 of Annex I page 122
ESRS S1-17 Non-respect of UNGPs on Business and Human 
Rights and OECD Guidelines paragraph 104 (a)
Indicator number 10 Table #1 and Indicator 
n. 14 Table #3 of Annex I
Delegated Regulation (EU) 2020/1816, 
Annex II Delegated Regulation (EU) 
2020/1818 Art 12 (1)
page 122
ESRS 2 SBM-3 – S2 Significant risk of child labour or forced 
labour in the value chain paragraph 11 (b)
Indicators number 12 and n. 13 Table #3 of 
Annex I
page 123
ESRS S2-1 Human rights policy commitments paragraph 17 Indicator number 9 Table #3 and Indicator 
n. 11 Table #1 of Annex 1
page 123
ESRS S2-1 Policies related to value chain workers 
paragraph 18
Indicator number 11 and n. 4 Table #3 of 
Annex 1
page 123
ESRS S2-1 Non-respect of UNGPs on Business and Human 
Rights principles and OECD guidelines paragraph 19
Indicator number 10 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816, 
Annex II Delegated Regulation 
(EU) 2020/1818, Art 12 (1)
page 123
Disclosure requirement and related data point SFDR reference Pillar 3 reference Benchmark Regulation  reference EU Climate Law reference Location in the Sustainability Statement
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ESRS S2-1 Due diligence policies on issues addressed by the 
fundamental International Labor Organisation Conventions 1 
to 8, paragraph 19
Delegated Regulation (EU) 2020/1816, 
Annex II
page 123
ESRS S2-4 Human rights issues and incidents connected to 
its upstream and downstream value chain paragraph 36
Indicator number 14 Table #3 of Annex 1 page 124
ESRS S3-1 Human rights policy commitments paragraph 16 Indicator number 9 Table #3 of Annex 1 
and Indicator number 11 Table #1 of Annex 1
page 126
ESRS S3-1 non-respect of UNGPs on Business and Human 
Rights, ILO principles or OECD guidelines paragraph 17
Indicator number 10 Table #1 Annex 1 Delegated Regulation (EU) 2020/1816, 
Annex II Delegated Regulation 
(EU) 2020/1818, Art 12 (1)
page 126
ESRS S3-4 Human rights issues and incidents paragraph 36 Indicator number 14 Table #3 of Annex 1 page 128
ESRS S4-1 Policies related to consumers and end-users 
paragraph 16
Indicator number 9 Table #3 and Indicator 
number 11 Table #1 of Annex 1
Not material
ESRS S4-1 Non-respect of UNGPs on Business and Human 
Rights and OECD guidelines paragraph 17
Indicator number 10 Table #1 of Annex 1 Delegated Regulation (EU) 2020/1816, 
Annex II Delegated Regulation 
(EU) 2020/1818, Art 12 (1)
Not material
ESRS S4-4 Human rights issues and incidents paragraph 35 Indicator number 14 Table #3 of Annex 1 Not material
ESRS G1-1 United Nations Convention against Corruption 
paragraph 10 (b)
Indicator number 15 Table #3 of Annex 1 page 129
ESRS G1-1 Protection of whistle- blowers paragraph 10 (d) Indicator number 6 Table #3 of Annex 1 page 130
ESRS G1-4 Fines for violation of anti-corruption and anti-
bribery laws paragraph 24 (a)
Indicator number 17 Table #3 of Annex 1 Delegated Regulation (EU) 2020/1816, 
Annex II)
page 132
ESRS G1-4 Standards of anti- corruption and anti- bribery 
paragraph 24 (b)
Indicator number 16 Table #3 of Annex 1 page 132
Disclosure requirement and related data point SFDR reference Pillar 3 reference Benchmark Regulation  reference EU Climate Law reference Location in the Sustainability Statement
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Environmental information
In this section
EU Taxonomy   ........................................................................................................... 87
E S R S  E 1   C l i m a t e  c h a n g e      ...................................................................................... 92
E S R S  E 2   P o l l u t i o n ..................................................................................................... 101
E S R S  E 3   W a t e r  a n d  m a r i n e  r e s o u r c e s   ............................................................ 104
E S R S  E 4   B i o d i v e r s i t y  a n d  e c o s y s t e m s   ............................................................. 106
E S R S  E 5   R e s o u r c e  u s e  a n d  c i r c u l a r  e c o n o m y   .............................................. 112
EU Taxonomy
To meet the EU’s climate and energy targets for 2030 and reach the 
objectives of the European Green Deal, a classification system for 
sustainable economic activities called EU Taxonomy was introduced in 
2020. Companies in the scope of the Corporate Sustainability Reporting 
Directive are obligated to report the share of Taxonomy-eligibility and 
Taxonomy-alignment in their operations. Taxonomy-eligibility describes if 
an economic activity is included in the scope of activities recognised in the 
EU Taxonomy Regulation. Taxonomy-alignment describes if an economic 
activity is sustainable based on the technical screening criteria for 
substantial contribution and do-no-significant harm specified for 
the activity. Taxonomy-aligned activity needs to be also carried out in 
compliance with the minimum safeguards, thus to respect basic human 
rights and follow good business conduct rules.
For the financial year 2025, Stora Enso has opted to apply the EU Taxonomy 
disclosure requirements as set out in Commission Delegated Regulation 
(EU) 2021/2178, prior to the amendments introduced by Commission 
Delegated Regulation of 4 July 2025.
Breakdown of EU Taxonomy key performance indicators in 2025
EUR million Turnover1 Capex Opex
Taxonomy aligned activities 469  5.0% 47  6.3% 68  9.8% 
Taxonomy eligible but not aligned 
activities 136  1.5% 8  1.1% 32  4.6% 
Total taxonomy eligible activities 605  6.5% 55  7.4% 100  14.4% 
Taxonomy non-eligible activities  8,721  93.5%  691  92.6% 592  85.6% 
Total  9,326  100%  746  100% 692  100% 
1 Turnover matches with the Group’s total sales. Rental income excluded.
Taxonomy eligible and aligned activities
Stora Enso has identified six eligible activities to report in the EU Taxonomy 
in the conducted annual exercise. From Stora Enso’s main activities, the 
production of wood-based solutions for construction industry is included 
in the EU Taxonomy through its contribution to buildings energy efficiency. 
Other main activities, production of pulp, consumer board, containerboard 
and corrugated packaging, are yet excluded from the scope of the EU 
Taxonomy.
Economic activity Description
1.3 Forest management The activities in the forests owned by Stora Enso in 
Sweden. Tree plantations in South America and 
China are not included in the activity.
1.4 Conservation forestry Stora Enso’s 50% owned joint operation Veracel has 
dedicated more than half of its land for the 
protection and restoration of biological biodiversity 
in natural Atlantic rainforest. This rainforest is 
excluded from the harvesting activities.
2.4 Remediation of contaminated 
sites and areas
Remediation projects of contaminated sites and 
areas related to discontinued operations and mill 
closures at Stora Enso sites.
3.4 Manufacture of batteries Pilot plant costs and research and development 
expenses related to hard carbon innovation.
3.5 Manufacture of energy efficiency 
equipment for buildings
Wood-based solutions for the construction industry 
which contribute to buildings energy efficiency. 
Door, window and roofing components and 
external wall systems manufactured from classic 
sawn, CLT, LVL and construction beams are 
considered eligible.
4.20 Cogeneration of heat/cool and 
power from bioenergy
Wood side-streams and by-products from the pulp 
process are used for energy production. The 
bioenergy generated from biobased feedstock is 
considered eligible.
100% of Stora Enso’s Swedish forests are certified under certification 
systems (PEFC or FSC) which lays the foundation for sustainable forest 
management. Stora Enso considers its 1.3 Forest management and 1.4 
Conservation practices aligned with EU Taxonomy, but has been unable to 
fulfil the third party verification requirement described in forest 
management and conservation forestry substantial contribution criteria 
(section 4. Audit). Stora Enso remains open to engaging with a partner 
capable of conducting EU Taxonomy compliant verification. Until such 
partner is found the Group reports its forest management and 
conservation forestry as eligible but not-aligned in EU Taxonomy.
The alignment assessment of 3.4 Manufacture of batteries activity is done 
based on the predicted future industrial scale operations and production 
which will be aligned with the technical screening criteria of the activity 
once started. Compliance with the criteria is considered through life-cycle 
GHG assessments that confirm lignin-based carbon having potential for 
substantial GHG emission reductions in transport and in off-grid energy 
storage.
Since Stora Enso is not a manufacturer of the end products, the 
compliance with the activity’s 3.5 Manufacture of energy efficiency 
equipment for buildings substantial contribution was assessed based on 
the knowledge of the end use and the energy efficiency related 
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regulations in the primary market areas. Compliance with the criteria is 
assessed based on customers, known use-cases, and the U-values of the 
final products (such as window components).
The eligibility and alignment assessments for all activities have been 
carried out based on the best interpretation of the Taxonomy Regulation 
and the available guidelines from the European Commission. In case of 
unclarities, the conservative approach has been chosen.
Accounting principles
The EU Taxonomy KPIs, turnover, capex and opex, are presented in 
separate tables as defined in the regulation. Double counting is avoided by 
having a clear cost structure in reporting which ensures that the profit 
centers and cost elements are separate for each activity. In reporting, the 
activities do not overlap between environmental objectives.
Turnover
The total turnover is the Group’s total sales, as presented in the line of sales, 
in consolidated income statement and in note 2.1 Segment information, 
which respectively include the IFRS 15 income according to the EU Taxonomy 
turnover definition. Rental income recognised under IFRS 16 is no longer 
included to ensure full reconciliation with the Group’s reported total sales. 
The external sales connected to the economic activities are reported under 
Taxonomy-eligible turnover. Taxonomy-eligible and aligned shares of 
turnover remained consistent with the previous reporting period.
The output of 1.3 Forest management activity, the grown wood, is used 
mostly internally in Stora Enso’s own operations. The forest management 
turnover in the EU Taxonomy includes the sale of externally sold 
roundwood and forest residuals.
In category 3.5 Manufacture of energy efficiency equipment for buildings, 
the external sales related to the share of production that is estimated to 
end up for doors, windows, roofing and external wall systems, is included 
under the EU Taxonomy turnover.
In category 4.20 Cogeneration of heat/cool and power from bioenergy, the 
turnover includes the external sales of the excess electricity and heat 
which is not consumed internally.
Capex
The total capex is the Group’s total capital expenditure in 2025, as 
presented in the line of additions, excluding goodwill additions, in note 4.1 
Intangible assets, property, plant and equipment and right of use assets, 
and note 4.2 Forest assets. The Taxonomy-eligible capex are the 
investments related to the assets or processes associated with the 
respective economic activities. Taxonomy-eligible and aligned shares of 
capex remained consistent with the previous reporting period.
In category 1.3 Forest management the capex includes investments that 
support the forest management activities, such as forest land acquisitions 
and investments in roads and bridges.
In category 4.20 Cogeneration of heat/cool and power from bioenergy 
the capex includes the investments made to bioenergy production at 
Stora Enso sites. The largest investments relate to Oulu and Heinola 
production sites in Finland.
Opex
The total opex covers the maintenance expenses, short-term lease costs, 
non-capitalised research and development costs and silviculture costs at 
the Group level. The Taxonomy-eligible opex include the corresponding 
direct non-capitalised costs related to the economic activities. Compared 
to 2024, taxonomy-eligible and aligned shares of opex increased slightly to 
14% (13%) and 10% (9%) due to higher R&D and environmental remediation 
costs.
In 2025 the following were reported under the EU Taxonomy opex:
1.3 Forest management, the silviculture costs and related research and 
development costs.
1.4 Conservation forestry, the costs from the conservation operations.
2.4 Remediation of contaminated sites and areas, the expenses related to 
the environmental remediation work carried out.
3.4 Manufacture of batteries, the pilot plant costs and research and 
development expenses related to hard carbon innovation. Turnover for 
the activity is expected within future years.
3.5 Manufacture of energy efficiency equipment for buildings, 
the expenses related to the share of production that is estimated to end 
up for doors, windows, roofing and external wall systems is reported.
4.20 Cogeneration of heat/cool from bioenergy, the maintenance salaries, 
maintenance material and other direct costs related to the day-to-day 
serving of the asset.
Minimum safeguards
Minimum safeguards were assessed in Group-level from two angles: by 
reviewing the company processes for human rights, corruption, taxation 
and fair competition to determine that the adequate processes and 
controls are in place, and by investigating that there are no known 
breaches or violations existing in the parent company, in its subsidiaries or 
by senior management. The Group considers its processes to be at 
a robust level and with no violations to meet the alignment with the 
minimum safeguards. For more information on the Group’s governance, 
see ESRS G1 Business Conduct.
Template 1 Nuclear and fossil gas related activities
Row Nuclear energy related activities
1 The undertaking carries out, funds or has exposures to research, 
development, demonstration and deployment of innovative 
electricity generation facilities that produce energy from nuclear 
processes with minimal waste from the fuel cycle.
NO
2 The undertaking carries out, funds or has exposures to 
construction and safe operation of new nuclear installations to 
produce electricity or process heat, including for the purposes of 
district heating or industrial processes such as hydrogen 
production, as well as their safety upgrades, using best available 
technologies.
NO
3 The undertaking carries out, funds or has exposures to safe 
operation of existing nuclear installations that produce electricity 
or process heat, including for the purposes of district heating or 
industrial processes such as hydrogen production from nuclear 
energy, as well as their safety upgrades.
NO1
Fossil gas related activities
4 The undertaking carries out, funds or has exposures to 
construction or operation of electricity generation facilities that 
produce electricity using fossil gaseous fuels.
NO
5 The undertaking carries out, funds or has exposures to 
construction, refurbishment, and operation of combined heat/
cool and power generation facilities using fossil gaseous fuels.
NO
6 The undertaking carries out, funds or has exposures to 
construction, refurbishment and operation of heat generation 
facilities that produce heat/cool using fossil gaseous fuels.
NO
1 Stora Enso holds a 16.5% interest in Pohjolan Voima Oyj (PVO). The investment is fair valued through other 
comprehensive income (FVTOCI) and therefore not in the scope of the Group’s EU Taxonomy reporting. For 
more information see note 4.4 Equity instruments.
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Proportion of Turnover from products or services associated with Taxonomy-aligned economic activities 2025
Substantial contribution criteria DNSH criteria 
(‘Does Not Significantly Harm’)EUR million
Economic Activities Code Turnover
Proportion of 
turnover year 
2025
Climate change 
mitigation
Climate change 
adaptation
Water
Pollution
Circular Economy
Biodiversity
Climate change 
mitigation
Climate change 
adaptation
Water
Pollution
Circular Economy
Biodiversity
Minimum 
safeguards
Proportion of 
Taxonomy 
aligned or 
eligible 
turnover year 
2024
Category 
enabling 
activity
Category 
transitional 
activity
EUR % Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL Y/N Y/N Y/N Y/N Y/N Y/N Y/N % E T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities (Taxonomy-aligned)
Manufacture of energy efficiency equipment for buildings CCM 3.5  430  4.6% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  4.3% E
Cogeneration of heat/cool and power from bioenergy CCM 4.20  39  0.5% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  0.5% 
Turnover of environmentally sustainable activities (Taxonomy-aligned) (A.1)  469  5.0%  5.0%  4.7% 
Of which Enabling  430  4.6%  4.6%  4.3% E
Of which Transitional T
A.2. Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
EL; N/EL EL; N/EL EL; N/EL EL; N/EL EL; N/EL EL; N/EL
Forest management CCM 1.3  133  1.4% EL EL N/EL N/EL N/EL N/EL  1.5% 
Cogeneration of heat/cool and power from bioenergy CCM 4.20  3  0.0% EL EL N/EL N/EL N/EL N/EL  0.0% 
Turnover of Taxonomy-eligible but not environmentally sustainable activities (not 
Taxonomy-aligned activities) (A.2)  136  1.5%  1.5%  1.6% 
A.Turnover of Taxonomy eligible activities (A.1+A.2)  605  6.5%  6.5%  6.3% 
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Turnover of Taxonomy-non-eligible activities  8,721  93.5% 
TOTAL  9,326  100% 
Y – Yes, Taxonomy-eligible and Taxonomy-aligned activity with the relevant environmental objective
N – No, Taxonomy-eligible but not Taxonomy-aligned activity with the relevant environmental objective
N/EL – Not eligible, Taxonomy non-eligible activity for the relevant environmental objective
EL - Taxonomy-eligible activity for the relevant objective
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Proportion of capex from products or services associated with Taxonomy-aligned economic activities 2025
Substantial contribution criteria DNSH criteria 
(‘Does Not Significantly Harm’)EUR million
Economic Activities Code Capex
Proportion of 
capex year 
2025
Climate change 
mitigation
Climate change 
adaptation
Water
Pollution
Circular Economy
Biodiversity
Climate change 
mitigation
Climate change 
adaptation
Water
Pollution
Circular Economy
Biodiversity
Minimum 
safeguards
Proportion of 
Taxonomy 
aligned or 
eligible capex 
year 2024
Category 
enabling 
activity
Category 
transitional 
activity
EUR % Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL Y/N Y/N Y/N Y/N Y/N Y/N Y/N % E T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities (Taxonomy-aligned)
Manufacture of energy efficiency equipment for buildings CCM 3.5  1  0.1% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  0.1% E
Cogeneration of heat/cool and power from bioenergy CCM 4.20  45  6.0% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  5.8% 
Capex of environmentally sustainable activities (Taxonomy-aligned) (A.1)  47  6.2%  6.2%  5.9% 
Of which Enabling  2  0.2%  0.2%  0.1% E
Of which Transitional T
A.2. Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
EL; N/EL EL; N/EL EL; N/EL EL; N/EL EL; N/EL EL; N/EL
Forest management CCM 1.3  8  1.1% EL EL N/EL N/EL N/EL N/EL  0.8% 
Cogeneration of heat/cool and power from bioenergy CCM 4.20  0  0.0% EL EL N/EL N/EL N/EL N/EL  0.0% 
Capex of Taxonomy-eligible but not environmentally sustainable activities (not 
Taxonomy-aligned activities) (A.2)  8  1.1%  1.1%  0.8% 
A.Capex of Taxonomy eligible activities (A.1+A.2)  55  7.4%  7.4%  6.7% 
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Capex of Taxonomy-non-eligible activities  691  92.6% 
TOTAL  746  100% 
Y – Yes, Taxonomy-eligible and Taxonomy-aligned activity with the relevant environmental objective
N – No, Taxonomy-eligible but not Taxonomy-aligned activity with the relevant environmental objective
N/EL – Not eligible, Taxonomy non-eligible activity for the relevant environmental objective
EL - Taxonomy-eligible activity for the relevant objective
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Proportion of opex from products or services associated with Taxonomy-aligned economic activities 2025
Substantial contribution criteria DNSH criteria 
(‘Does Not Significantly Harm’)EUR million
Economic Activities Code Opex Proportion of 
opex year 2025
Climate change 
mitigation
Climate change 
adaptation
Water
Pollution
Circular Economy
Biodiversity
Climate change 
mitigation
Climate change 
adaptation
Water
Pollution
Circular Economy
Biodiversity
Minimum 
safeguards
Proportion of 
Taxonomy 
aligned or 
eligible opex 
year 2024
Category 
enabling 
activity
Category 
transitional 
activity
EUR % Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL
Y; N; 
N/EL Y/N Y/N Y/N Y/N Y/N Y/N Y/N E T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities (Taxonomy-aligned)
Remediation of contaminated sites and areas PPC 2.4  4  0.6% N/EL N/EL N/EL Y N/EL N/EL Y Y Y Y Y Y Y  0.3% 
Manufacture of batteries CCM 3.4  19  2.7% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  2.1% E
Manufacture of energy efficiency equipment for buildings CCM 3.5  17  2.5% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  2.4% E
Cogeneration of heat/cool and power from bioenergy CCM 4.20  27  4.0% Y N N/EL N/EL N/EL N/EL Y Y Y Y Y Y Y  4.3% 
Opex of environmentally sustainable activities (Taxonomy-aligned) (A.1)  68  9.8%  9.2%  0.6 %  9.1% 
Of which Enabling  36  5.2%  5.2%  4.5% E
Of which Transitional T
A.2. Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
EL; N/EL EL; N/EL EL; N/EL EL; N/EL EL; N/EL EL; N/EL
Forest management CCM 1.3  28  4.1% EL EL N/EL N/EL N/EL N/EL  3.2% 
Conservation forestry CCM 1.4  1  0.1% EL EL N/EL N/EL N/EL N/EL  0.1% 
Remediation of contaminated sites and areas PPC 2.4  2  0.4% N/EL N/EL N/EL EL N/EL N/EL  0.1% 
Cogeneration of heat/cool and power from bioenergy CCM 4.20  1  0.1% EL EL N/EL N/EL N/EL N/EL  0.0% 
Opex of Taxonomy-eligible but not environmentally sustainable activities (not 
Taxonomy-aligned activities) (A.2)  32  4.6%  4.3%  0.4%  3.4% 
A.Opex of Taxonomy eligible activities (A.1+A.2)  100  14.4%  13.4%  1.0%  12.5% 
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Opex of Taxonomy-non-eligible activities  592  85.6% 
TOTAL  692  100% 
Y – Yes, Taxonomy-eligible and Taxonomy-aligned activity with the relevant environmental objective
N – No, Taxonomy-eligible but not Taxonomy-aligned activity with the relevant environmental objective
N/EL – Not eligible, Taxonomy non-eligible activity for the relevant environmental objective
EL - Taxonomy-eligible activity for the relevant objective
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ESRS E1 Climate change
Transition plan for climate change mitigation (E1-1)
In February 2026, Stora Enso published a new climate resilience plan to ensure that 
amidst rapid advances in science, technology, and changing regulatory 
frameworks, its strategy and business model are compatible with the transition to a 
sustainable economy and the 1.5 degree goal of the Paris Agreement. The resilience 
plan is approved by the Board of Directors. 
Stora Enso’s climate change mitigation actions are guided by its Policy for Energy 
and Climate Change as well as its climate targets. These targets are aligned with 
the Science Based Targets initiative (SBTi) 1.5-degree pathway and the Paris 
Agreement’s 1.5-degree goal, as described in ESRS E1-4. The actions and 
decarbonisation levers for climate change mitigation in the Group’s own operations 
include enhancements in energy efficiency, fuel switches, investments in 
electrification, and the use of renewable energy. For upstream and downstream 
value chain, Stora Enso’s work focuses on four levers to decarbonise purchased 
goods and services, fuel and energy-related activities, upstream transportation 
and distribution, and processing of sold products. The actions and levers are 
further described in ESRS E1-3. 
Key investments related to climate change mitigation actions are disclosed in ESRS 
E1-3. The resilience plan aligns with the Group’s strategy, and incorporates climate-
related scenario analysis, which have been used to inform the strategy. Some of 
the decarbonisation levers link directly to the Group’s product portfolio, placing the 
resilience plan at the core of the business model. The climate mitigation actions 
are included in the financial planning as described in ESRS E1-3.
At the end of 2025, Scope 1 and 2 CO2eq emissions totalled 1.03 million tonnes or 
-61% less, and Scope 3 emissions 4.63 million tonnes or -38% less than in the base 
year 2019.
Stora Enso does not consider any of its emissions unavoidable (locked-in), but 
acknowledges that some assets and products have emissions that are currently 
economically and technologically harder to abate. Therefore, future investments 
and new technology are essential to achieve the climate targets. The Group 
intends to continue investments in low-carbon and energy-efficient solutions, 
particularly to reduce the use of fossil fuels, and is committed to phasing out coal. 
Actions and investments are described in ESRS E1-3 and presented in the graph 
‘Achieved and expected reductions’ in ESRS E1-4.
Stora Enso reports according to the EU Taxonomy. The forest industry is not central 
to current legislation, limiting Stora Enso’s relevant economic activities for reporting. 
In 2025, Stora Enso’s taxonomy-aligned capex was EUR 47 (64) million, see section EU 
Taxonomy. Stora Enso is not excluded from the EU-Paris aligned benchmark.
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Material impacts, risks and opportunities (ESRS 2 SBM-3)
Description Impact, risk, 
or opportunity Time horizon
Location in 
the value chain
Related sub-topic or
sub-sub-topic
Transition 
risk
Physical 
risk
Positive impact on climate through forest carbon sequestration, 
products substituting fossil-based alternatives, and carbon stored 
in products.
Actual positive 
impact
Short, medium, 
and long term
Own operations, 
joint operations
Climate change 
mitigation
Production sites emit greenhouse gases and use energy-intensive 
processes, both of which directly impact climate change.
Actual negative 
impact
Short, medium, 
and long term
Own operations; 
joint operations 
Climate change 
mitigation; Energy
Indirect impact on climate change due to greenhouse gas 
emissions resulting from upstream and downstream value chain 
activities.
Actual negative 
impact
Short, medium, 
and long term
Joint operations, 
Upstream and 
downstream value 
chain
Climate change 
mitigation
Operations generate biogenic emissions, which are treated as 
carbon neutral. Stora Enso recognises the risk of a possible 
change in the accounting of these emissions, which would impact 
the Group’s path towards climate neutrality and product lifecycle 
assessments.
Risk Medium and long 
term
Own operations, 
joint operations, 
upstream and 
downstream value 
chain
Climate change 
mitigation
x
Uncertainty in reaching the net zero target by 2040: for Scope 1 
and 2 emissions, adequate investments and new technology are 
required, while for Scope 3 emissions, the lack of direct control 
over value chain emissions may create challenges in achieving 
reduction targets. Inability to meet the targets may lead to 
possible damage to Stora Enso’s reputation and brand, which 
may result in a loss of investor and customer confidence leading 
to higher cost of capital and decreased revenues.
Risk Medium and long 
term
Own operations, 
upstream and 
downstream value 
chain
Climate change 
mitigation
x
Stora Enso’s scenario analysis recognises that long-term (25–30 
years) changes in precipitation patterns, periods of drought, 
frequent extreme weather events, and higher average 
temperatures that increase the risk of forest fires and insect 
outbreaks, could cause damage to operations, forests, and tree 
plantations. In northern regions, milder winters may also impact 
the harvesting and transportation of wood and related costs. 
More frequent extreme weather events also increase the risk of 
disruptions in the production, logistics, and supply of raw 
materials and energy.
Risk Long term Own operations, 
joint operations, 
upstream value 
chain
Climate change 
adaptation
x
Opportunity due to high energy self-sufficiency, which reduces 
the Group’s exposure to external cost instability and market 
disruptions. With access to renewable biomass and fossil-free 
electricity, Stora Enso is well-positioned to contribute to the green 
transition and a low-carbon economy.
Opportunity Short, medium, 
and long term
Own operations Energy
Opportunity in sustainable forest management to enhance the 
resilience of forest ecosystems, and the potential for changing 
climate to increase tree growth and species distribution, 
particularly in northern latitudes.
Opportunity Medium and long 
term
Own operations, 
joint operations, 
upstream value 
chain
Climate change 
mitigation
Opportunities related to climate change resilience are described in ESRS E3, E4, and E5.

===== SIDA 93 =====

E1 disclosure requirement related to ESRS 2 SBM-3
Stora Enso utilises scenarios to assess climate change impacts and has 
tested the resilience of its strategy and business model in relation to 
climate change through multiple resilience analyses conducted over the 
past years. Resilience analyses have been conducted for Stora Enso’s own 
operations, covering production assets in Sweden, Finland, Poland, and 
Belgium, as well as for the forest assets in Sweden. In addition, resilience 
analyses have been conducted for Stora Enso’s joint operations in Brazil 
and Uruguay and the plantations in South America.
The scenario analyses for the operational assets for Stora Enso’s own 
operations and upstream operations (joint operations) were conducted as 
desktop studies by reviewing location-based historical weather data 
against five different climate scenarios (SSP1-1.9, SSP5-8.5). For forest assets 
in Sweden, the study was done as a literature review by a third-party. The 
analysis for the upstream value chain covering plantations in South 
America was also conducted by a third party. The time horizon on 
materiality was set to 2040, with an overall horizon extending to 2100. In 
2025, Stora Enso updated its climate resilience plan, incorporating the 
scenarios outlined earlier together with the latest emission forecasts and 
market insights. The anticipated financial effects were considered in 
investment estimates and planning, alongside broader business 
implications such as potential production growth.
Stora Enso assumes that the transition to a lower-carbon and resilient 
economy will affect the Group through emission reductions, regulations, 
and the need to adapt operations, for example, by electrification.
The results of the resilience analysis show that operational assets in 
Sweden and Finland have endured similar weather conditions in the past. 
Stora Enso acknowledges that weather extremes will become more 
frequent, but there is little evidence to suggest that those would have a 
material impact on the ability to operate assets before 2040. Assets 
located in continental Europe, are at a higher risk of climate hazards 
compared to those in the Nordics. However, no material impact was 
identified.
The results of the resilience analysis for forest assets in Sweden were 
inconclusive. A warmer climate enhances forest growth, but at the same 
time, more frequent storms, drought, and pest damage may negatively 
affect growth. Based on the outcome, there are both risks and 
opportunities in the changing climate. There is uncertainty in the resilience 
analysis, as recent climate development suggests that expected time 
horizons for impacts in different scenarios might be shorter than 
anticipated. In 2024, the EU’s climate service reported that for the first time, 
global warming had exceeded 1.5°C over the course of an entire year.
Stora Enso has also conducted a business impact scenario that identified 
climate-related transition opportunity. The results concluded that the 
overall transition to a low carbon, circular economy is aligned with the 
Group’s strategy.
Based on the resilience analysis, Stora Enso has the ability to adjust or 
adapt its strategy to respond to climate change in the short, medium, and 
long term. Climate-related transition risks relate to the Group’s capability 
to reduce its emissions across the value chain, and also its capability to 
position its business offering to support the global transition to a low-
carbon, circular economy. Stora Enso’s operations and value chain benefit 
from their wide geographical distribution, as it is unlikely that all locations 
would be impacted simultaneously.
Policies related to climate change mitigation 
and adaptation (E1-2)
The minimum requirement is that all policies and guidelines are to be 
reviewed at least once every two years. Each policy owner shall ensure 
that the documents under their responsibility are reviewed and updated 
within the defined time frame.
Policy for Energy and Climate Change
The policy outlines the ambition for combatting climate change through 
objectives across products, industrial operations, and the value chain. The 
policy addresses the management of negative impacts related to GHG 
emissions generated from Stora Enso’s own operations by continuously 
improving energy efficiency and increasing the deployment of renewable 
energy through a higher share of biomass. The policy also promotes 
working with suppliers, customers, and partners to decarbonise the value 
chain, thereby aiming to mitigate negative impacts resulting from 
emissions generated within the value chain. In addition, the policy includes 
a commitment to collaborating with customers and stakeholders to 
substitute non-renewable materials and to sustainable forest 
management practices. The efforts contribute to positive climate impacts 
through forest carbon sequestration, use of products as substitutes for 
fossil-based alternatives, and carbon stored in wood-based products.
The policy applies to Stora Enso’s own operations, and the EVP, Strategy 
and Sustainability, is accountable for ensuring its implementation.
Environmental Guidelines
The guidelines address topics related to environmental management 
and circularity, energy and climate change, pollution, water, forests, 
plantations, and land use. The guidelines require that all of Stora Enso’s 
production units implement and maintain a third-party certified 
environmental management system. Third-party certified management 
systems (ISO 14001 and ISO 50001) help improve environmental 
performance and energy efficiency. In relation to energy and climate 
change, the guidelines address both the negative and positive impacts 
outlined in the Policy for Energy and Climate Change.
The scope of the guidelines covers Stora Enso’s own operations, and the 
EVP, Strategy and Sustainability, is accountable for ensuring their 
implementation.
Supplier Code of Conduct (SCoC)
The SCoC outlines minimum standards for suppliers in addition to 
applicable laws and regulations. The policy lists objectives for responsible 
business practices, occupational health and safety, human and labour 
rights, supporting and engaging with communities, and protecting the 
environment. It requires suppliers to actively monitor, report, and work to 
reduce GHG emissions from their own operations and value chain. The 
supplier must allow Stora Enso, or a third party authorised by Stora Enso, to 
verify compliance with the requirements of this SCoC through dialogue, 
disclosure of information or, if considered necessary by Stora Enso, an 
audit of the supplier’s operations. The policy also addresses managing the 
negative impacts resulting from GHG emissions in the Group’s value chain. 
The scope of the policy covers all Stora Enso’s business activities and 
operations globally. Accountability for ensuring the implementation of the 
SCoC lies with the Sourcing & Logistics Leadership Team. The SCoC is 
provided to suppliers during the pre-qualification process, where they are 
required to commit to adhering to it.
Actions and resources in relation to 
climate change policies (E1-3)
Stora Enso’s climate change mitigation and adaptation actions extend 
across its own operations, as well as its upstream and downstream value 
chain, and are aligned with the Paris Agreement and SBTi’s 1.5-degree 
pathway.
Climate change mitigation in the Group’s own operations
The action plan consists of two decarbonisation levers, described below, 
which contribute to Stora Enso’s target of reducing GHG emissions for 
Scope 1 and 2 by 50% by 2030 from the 2019 baseline. The plan also 
supports the achievement of objectives outlined in the Policy for Energy 
and Climate Change and the Environmental Guidelines on climate change 
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mitigation, as well as managing negative impacts resulting from the GHG 
emissions generated by the Group’s operations. The action plan covers the 
Group’s own operations and the time horizon spans from short to 
long term.
1) Decarbonisation lever: energy efficiency and investments 
into electrification
Stora Enso focuses on continuously improving energy efficiency at its 
production sites through targeted measures. In 2025, the Group supported 
energy-efficiency investments totalling approximately EUR 25.8 (18.8) 
million, reducing heat, fuel, and electricity consumption, and contributing 
to a reduction in the total carbon emissions. On average, these 
investments have a payback period of two years. In the Financial 
Statements, these investments are included in the note 4.1 Intangible 
assets, property, plant and equipment and right-of-use assets (under the 
corresponding ‘Additions’ rows).
To reduce GHG emissions in energy-intensive production processes, Stora 
Enso has invested in e-boilers as alternatives to fossil-based energy 
sources and to enhance operational efficiency. For instance, in Lahti, 
Finland, two new electric boilers became fully operational in early 2025, 
a i m i n g  t o  r e d u c e  t h e  s i t e ’ s  C O ₂  e m i s s i o n s  b y  u p  t o  7 0 %  c o m p a r e d  t o  t h e  
2019 baseline. Furthermore, Stora Enso is investing in vehicle electrification.
Stora Enso applies the ISO 50001 standard to improve energy efficiency 
across its operations by implementing an Energy Management System. 
The standard supports continuous improvement through energy-saving 
objectives and targets. By the end of 2025, approximately 99% of the 
Group’s production sites were covered by ISO 50001.
By the end of 2025, the emission reduction achieved for this 
decarbonisation lever was 0.05 million tonnes from the 2019 base year. 
The expected emission reduction from 2025 to 2030 is 0.01 million tonnes. 
See also progress against the Group’s energy efficiency target (ESRS E1-4).
2) Decarbonisation lever: fuel switches and use of 
renewable and nuclear energy
To reduce the carbon intensity of its industrial operations, Stora Enso 
promotes the use of various forms of low carbon electricity and heat, 
including energy sources such as nuclear, wind, solar, and bioenergy. 
The Group’s operations largely utilise renewable biomass fuels from forest 
and process side streams. Fuel switches are implemented in both 
production processes and transportation. To support its decarbonisation 
targets, Stora Enso purchases Guarantees of Origin to ensure that 
electricity has been generated from renewable or nuclear energy sources, 
with lower greenhouse gas emission factors. Examples of measures taken 
at the mills during the reporting year:
• As part of the Oulu conversion project in Finland, a new bio boiler was 
built to meet the steam needs of the new cartonboard machine. It was 
designed in accordance with BAT (Best Available Techniques) and BREF 
(Best Available Techniques Reference Documents) requirements to 
minimise environmental impact.
• In 2025, a new bio oil tank became fully operational at the Skoghall mill in 
Sweden, replacing fossil oil and enabling a projected 38% reduction in 
fossil emissions - approximately 25,000 tonnes of CO₂ annually.
• Renewal of the energy set-up and process equipment at the Heinola 
fluting site, Finland, was carried out to replace majority of the remaining 
fossil-based fuels with renewable bioenergy. The expected GHG 
reduction is over 90%. The project was completed in the latter half 
of 2025.
In 2025, the emission reduction achieved for this decarbonisation lever 
was 0.95 million tonnes. The expected emission reduction from 2025 to 
2030 is 0.35 million tonnes.
In addition to the decarbonisation levers described above, site and 
production line closures, aligned with Stora Enso’s business model and 
strategy, also impact the achieved reduction.
Climate change mitigation in the value chain
Stora Enso aims to reduce Scope 3 emissions in alignment with the 
objectives of the Policy for Energy and Climate Change, the Environmental 
Guidelines, and the Supplier Code of Conduct to mitigate negative 
impacts on climate change resulting from GHG emissions in the Group’s 
upstream and downstream value chain.
The action plan for climate change mitigation in the value chain consists 
of four decarbonisation levers, covering Stora Enso’s material Scope 3 
categories, aiming to reduce value chain emission in line with target to 
reach 50% reduction in Scope 3 emissions by 2030 from the 2019 baseline. 
The time horizon of this action plan spans from short to long term and 
covers the Group’s value chain.
1) Decarbonisation of purchased goods and services
Stora Enso continuously optimises product features, recipes, and design 
for resource efficiency and carbon intensity. The focus is on supplier 
s u b - c a t e g o r i e s  w i t h  s i g n i f i c a n t  e m i s s i o n  i m p a c t s .  T h i s  i n c l u d e s  w o r k i n g  
with raw material suppliers to improve efficiency and lower carbon 
intensity throughout the value chain.
An example from the reporting year is hosting a supplier event with key 
chemical partners to support the reduction of GHG emissions, facilitate 
adaptation to evolving regulations, and promote the exchange of 
actionable data.
By the end of 2025, the emission reduction achieved for this 
decarbonisation lever was 0.72 million tonnes from the 2019 baseline. 
The expected emission increase from 2025 to 2030 is 0.14 million tonnes.
2) Decarbonisation of fuel and energy-related activities
The decarbonisation levers for Scope 1 and 2 also reduce upstream 
emissions from fuel and energy related activities. By the end of 2025, the 
emission reduction achieved for this decarbonisation lever was 0.35 million 
tonnes from the 2019 baseline. The expected emission reduction from 2025 
to 2030 is 0.07 million tonnes.
3) Decarbonisation of upstream transportation and distribution 
S t o r a  E n s o  f o c u s e s  o n  s u p p l i e r  s u b - c a t e g o r i e s  w i t h  s i g n i f i c a n t  e m i s s i o n  
impacts. This includes working with logistics partners to improve efficiency 
and lower carbon intensity of transportation. An example from the 
reporting year is participation in the TREE project, coordinated by the 
Forestry Research Institute of Sweden, which has been testing six electric 
heavy-duty vehicles to electrify forestry transport in Sweden.
By the end of 2025, the emission reduction achieved for this 
decarbonisation lever was 0.27 million tonnes from the 2019 baseline. 
The expected emission increase from 2025 to 2030 is 0.09 million tonnes.
4) Decarbonisation of processing of sold products 
Customer actions to reduce emissions serve as a decarbonisation lever, 
with Stora Enso maintaining active dialogue on customers’ climate 
ambitions and targets to gain visibility into these opportunities. In addition, 
the Group reviews decarbonisation opportunities in new markets and 
end uses. 
By the end of 2025, the emission reduction achieved for this 
decarbonisation lever was 1.46 million tonnes from the 2019 baseline. 
The expected emission reduction from 2025 to 2030 is 0.15 million tonnes.
Other impacts to Scope 3 reduction
In addition to the above decarbonisation levers, continuous enhancement 
of data collection supports identifying mitigation actions. Scope 3 
accounting differs inherently from Scope 1 and 2, as it involves activities 
beyond a company’s direct control and is still a developing field partly due 
to limited primary data availability. Accordingly, Stora Enso aims to 
continuously improve its Scope 3 data collection and reporting processes, 
focusing on improving the granularity of data down to the production unit 
level. This will allow for a better-informed baseline and support data-
driven development actions. The scope of the activities covered by the 
automation project spans the Group’s entire value chain.
Furthermore, business growth, site and production line closures, aligned 
with the Group's business model and strategy, impact the achieved 
reduction outcome. The impacts are reflected across all decarbonisation 
levers.
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Climate change adaptation types 
Stora Enso’s objective and approach to climate change adaption are 
included as part of the Environmental Guidelines. To address the policy 
objective and to mitigate the increasing risks posed by climate-related 
hazards, Stora Enso implements nature-based adaptation solutions. The 
scope of the action covers the Group’s own operations and upstream 
value chain, with a long-term time horizon. Examples of this action include:
• Increasing mixed forests, and promoting sustainable forest 
management and harvesting practices, see ESRS E4.
• Enforcing diversification in wood sourcing.
• Enhancing materials efficiency, see ESRS E5.
• Monitoring water risk areas and taking relevant action, see ESRS E3. 
Addressing opportunities and positive impacts
The two key actions to address the positive impact and opportunity on 
climate change mitigation, as well as the opportunity to increase forest 
resilience and growth, are described below. The third key action addresses 
the opportunity on energy self-sufficiency. These long-term actions 
contribute to the achievement of the objectives outlined in the Policy for 
Energy and Climate Change and the Environmental Guidelines.
1) Promotion of sustainable forest management practices in Stora Enso’s 
own and managed forests to increase the resilience of forest ecosystems 
and improve forest sequestration. In 2025, the three-year average of 
annual carbon sequestration in the Group’s owned or leased productive 
forest lands was 3.8 (4.3) million tonnes of CO2. See ESRS E1-7.
2) The Group’s innovation and product development focuses on fiber-
based, renewable products that substitute fossil-based alternatives. In 
2025, the substitution effect amounted to 14.6 (13.5) million tonnes of CO2. In 
addition, the Groups’s wood-based products stored carbon amounting to 
2.7 million tonnes of CO2. See ESRS E1-7. Recent key investments include:
• New consumer packaging board line at the Oulu site in Finland started 
production ramp-up in 2025 and is expected to reach full capacity 
during 2027.
• In 2025, Stora Enso’s total spend on innovation, research and 
development was EUR 69 (78) million.
3) By securing and enhancing energy self-sufficiency, Stora Enso aims to 
mitigate exposure to external cost volatility and market disruptions. The 
action consists of long-term contracts to manage energy supply, direct 
market access via energy exchanges, combined heat and power 
production at production units, and shareholding in the Finnish energy 
company Pohjolan Voima Oyj. The Group also places increased emphasis 
on leveraging its electricity generation capabilities and electricity demand 
flexibility. In 2025, Stora Enso’s total energy self-sufficiency was 74% (72%).
Current and future resources
The Group’s EU Taxonomy aligned Capex related to climate change 
mitigation was EUR 47 (64) million and Opex EUR 64 (66) million, see further 
details in the section EU Taxonomy. The difference between the ESRS E1 and EU 
Taxonomy disclosed Capex and Opex is due to Stora Enso’s central business 
areas not being addressed by the current scope of the EU Taxonomy.
Stora Enso acknowledges that future investments and new technology are 
required to reach its target of net-zero by 2040 and intends to continue 
investing in low-carbon and energy-efficient solutions.
Targets related to climate change mitigation 
and adaptation (E1-4)
Climate change mitigation
In 2017, Stora Enso established a science-based target to reduce its 
greenhouse gas (GHG) emissions and achieved this target nine years 
ahead of schedule. In 2021, Stora Enso raised its ambition to align with the 
1.5-degree scenario. The targets have been approved by the Science Based 
Targets initiative (SBTi) and are aligned with the Group’s Energy and 
Climate Change Policy.
  
Target Scope
Baseline year 
and value 2025 2024
Scope 1 & 2: -50% 
reduction by 2030 Own operations 2 0 1 9 :  2 . 6 2  C O ₂ e  
million tonnes  -61 %  -53 %
Scope 3: -50% 
reduction by 2030 Value chain 2 0 1 9 :  7 . 4 3  C O ₂ e  
million tonnes  -38 %  -39 %
Compared to 2024, the decrease in Scope 1 and 2 emissions is primarily a 
result of reduction measures, such as fuel switches. Scope 3 performance, 
compared to previous year, was affected by increased production.
The decarbonisation levers and their contributions to reductions from the 
baseline year are shown in the graphs below. For Scope 1 and 2, new 
technologies and other investments are required to achieve targets. For 
Scope 3, the estimated contributions depend on additional future actions 
to reach the target. The pace and effectiveness of future decarbonisation 
will also be influenced by the availability of low-carbon energy, 
infrastructure development, and market adoption of new solutions.
The presented forecasts on future growth and expected reductions are 
based on various assumptions and estimates that are believed to be 
reasonable, though actual result and timing could differ from these. The 
estimates, judgments and assumptions are reviewed regularly and 
updated when deemed necessary. The expected reductions by 2030 are 
rounded to the nearest 5 percentage point. There is an estimation 
uncertainty of +/-5% in the forecast.
In 2023, Stora Enso reinforced its climate commitment by joining The 
Climate Pledge initiative, aiming for net zero carbon emissions by 2040, 
across all three Scope categories. The 2019 baseline year applies to both 
the 2030 and 2040 targets.
For setting the targets, Stora Enso uses a publicly available science-based 
target-setting method for Scope 1, 2 and 3 emissions called the Absolute 
Contraction Approach. Since the targets are set for absolute emission 
reductions, possible future developments, such as changes in sales 
volumes or shifts in customer demand, will not alter the targets. GHG 
removals, carbon credits, or avoided emissions are not considered as 
means to achieve the targets. See accounting principles for GHG emissions 
in ESRS E1-6. Stakeholders, other than SBTi and Climate Pledge, have not 
been included in the target setting process.
Energy
Stora Enso has set an energy efficiency target as part of the Group’s 
decarbonisation pathway and as a means to reduce negative impacts 
generated by energy use. For 2025, the target was updated to 1.5% annual 
energy saving by 2030 (1.1% in 2024), in alignment with the EU’s energy 
efficiency target.
Target Scope Baseline year and value 2025 2024
Projected annual energy 
saving of -1.5% by 2030
(MWh saved/MWh total 
energy used, electricity, 
heat, and fuels)
Own operations Annual target  -2.1 %  -1.6 %
In 2025, Stora Enso exceeded its target, achieved mainly through an 
increased focus on operational efficiency.
 Accounting principles
In addition to operational changes, the projected energy savings include 
savings from the investments for which the reporting year marks the first 
year of impact. Energy savings are reported as a percentage reduction 
compared to total energy consumption for the year, without considering 
efficiency investments. The target excludes packaging converting units 
and joint operations. The target value is applied for each year.
The target was established with input from internal subject matter experts 
and covers the Packaging Materials, Biomaterials, and Wood Products 
segments. The target is in line with the Policy for Energy and Climate 
Change and supports the achievement of the Scope 1 and 2 Science 
Based Targets. The target is in line with EU’s energy efficiency target.
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2.62
0.03 -0.05
-0.95
-0.63
1.03
0.14 -0.01
-0.35
1.31
Base year 
2019
Production 
increase
Energy 
efficiency 
and 
investments 
into 
electrification
Fuel switches 
and use of 
renewable 
energy
Impacts 
from site and 
production 
line closures 
and 
conversions
2025 
emissions
Business 
impact
Energy 
efficiency 
and 
investments 
into 
electrification
Fuel switches 
and use of 
renewable 
energy
2030 target
-50% from 
2019
2040 net 
zero target 
0
1
2
3
Energy consumption and mix (E1-5)
 Accounting principles
The energy figures cover all production units. Aligned with the Financial 
Statements, the figures include the Group’s joint operations according to 
the ownership share (50%). Energy consumption in offices is included in the 
figures based on estimates. Local factors are taken into account at the 
units when calculating the energy content of the fuels used.
Stora Enso applies a conservative approach in accordance with ESRS 
when distinguishing between renewable and non-renewable energy 
sources. The Group classifies energy as renewable or nuclear-based only if 
the origin of the purchased energy is clearly defined in contractual 
arrangements with its suppliers, or if Guarantees of Origin are cancelled 
for the Group’s consumption and are in line with GHG Protocol 
requirements. If the origin is not known, the source is classified as fossil. 
Some production units that purchase electricity from the grid have 
estimated their energy consumption, as invoices from the energy provider 
were not available at year-end. These estimates do not have a material 
impact on the Group’s total energy consumption figure.
Stora Enso’s business activities fall within high climate impact sectors: 
Agriculture (Sector: Forestry, code AFO) and Manufacturing (Sector: Pulp, 
Paper & Wood products, code MPW) or alternatively NACE 02 (Forestry and 
logging), NACE 16 (Manufacture of products of wood), and NACE 17 
(Manufacture of pulp, paper and paperboard). Therefore, the Group’s total 
sales as reported in the Financial Statements (Consolidated income 
statement) is used to determine energy intensity.
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Achieved and expected GHG reductions within the value chain
CO2eq, million tonnes
Achieved and planned GHG reductions within the Group’s own operations
CO2eq, million tonnes
Achieved reductions in own operations by 2025
Planned reductions 
in own operations
7.43
-0.72
-0.35 -0.27
-1.46
4.63
0.14 -0.07 0.09 -0.16
3.72
Base year 
2019
Purchased 
goods and 
services
Fuel and 
energy-
related 
activities
Upstream 
transportation 
and 
distribution
Processing 
of sold 
products
2025
emissions
Purchased 
goods and 
services
Fuel and 
energy-
related 
activities
Upstream 
transportation 
and 
distribution
Processing 
of sold 
products
2030 target
-50% from 
2019
2040 net 
zero target 
0
1
2
3
4
5
6
7
8
Achieved reductions within the value chain by 2025
Expected impacts within the value chain1
1 For Scope 3, the estimated contributions depend on additional future actions to reach the target. The pace and effectiveness of future decarbonisation 
will also be influenced by the availability of low-carbon energy, infrastructure development, and market adoption of new solutions.

===== SIDA 97 =====

Energy consumption and mix, TWh 2025 2024
Fuel consumption from coal and coal products 1.0 1.1
Fuel consumption from crude oil and petroleum 
products 0.7 1.2
Fuel consumption from natural gas 0.8 0.5
Fuel consumption from other fossil sources 1.1 1.3
Consumption of purchased or acquired electricity, 
heat, steam, and cooling from fossil sources 0.2 0.3
Total fossil energy consumption 3.8 4.4
Share of fossil sources in total energy consumption, %  9%  11% 
Consumption from nuclear sources 4.3 3.9
Share of consumption from nuclear sources in total 
energy consumption, %  10%  9% 
Fuel consumption from renewable sources 33.8 33.3
Consumption of purchased or acquired electricity, 
heat, steam, and cooling from renewable sources 0.8 0.6
The consumption of self-generated non-fuel 
renewable energy 0.0 0.0
Total renewable energy consumption 34.6 33.8
Share of renewable sources in total energy 
consumption, %  81%  80% 
Total energy consumption 42.7 42.2
Energy intensity ratio 2025 2024
Total energy consumption from activities in high 
climate impact sectors, TWh 42.7 42.2
Energy intensity, MWh/EUR million 4,577 4,658
For energy balance, the figures encompass the Group’s own energy 
production. Electricity received at cost-based principle from Pohjolan 
Voima Oyj – where Stora Enso is a minority shareholder with a 16.5% (16.1%) 
ownership stake – is reported as its own line and included in own electricity 
generation due to Mankala principle. For additional information, see 
Financial Statements, note 4.4 Equity instruments. Stora Enso’s energy 
balance contains also external energy sales, which are partly EU 
taxonomy-eligible. For more information, see EU Taxonomy.
Energy production, TWh 2025 2024
Renewable 29.8 29.5
Non-renewable1 2.6 3.0
PVO shareholding 2.5 2.5
Renewable 0.4 0.4
Nuclear 2.1 2.1
Total energy production1 34.9 35.0
1 Comparative figure revised due to minor error.
Gross Scopes 1, 2, 3 and Total GHG emissions (E1-6)
Stora Enso’s carbon footprint, following the GHG Protocol’s 
principle of operational control
 Accounting principles
In its GHG accounting, Stora Enso follows the three standards provided by 
the Greenhouse Gas Protocol of the World Resources Institute and the World 
Business Council for Sustainable Development: the GHG Corporate 
Accounting and Reporting Standard, the GHG Protocol Scope 2 Guidance, 
and the Corporate Value Chain (Scope 3) Accounting and Reporting 
Standard. Stora Enso uses the operational control approach to consolidate 
GHG emission figures. The targets for reducing GHG emissions are reported 
as a percentage change from the baseline, which is updated annually to 
reflect the current company structure. The Group’s climate targets, 
approved by the Science-Based Targets initiative and presented in ESRS 
E1-4, follow the GHG Protocol. The CO2 factors used for purchased energy 
(Scope 2) largely follow the market-based methodology, which means that 
almost all production sites apply CO2 factors provided by their energy 
suppliers.
Carbon footprint 2019–2025 according to GHG Protocol
(Follows the GHG Protocol’s principle of operational control. Scope 1 and 2 
emissions covered by reasonable assurance.)1,2
Fossil CO2 equivalent, million tonnes Trend
2019 2020 2021 2022 2023 2024 2025 2019-2025
Scope 1 2.27 2.08 2.13 1.79 1.46 1.18 0.99  -57% 
Scope 2 0.35 0.19 0.11 0.10 0.07 0.06 0.04  -88% 
Scope 3 7.43 7.16 7.54 5.59 4.86 4.56 4.63  -38% 
Total 10.06 9.44 9.78 7.48 6.39 5.80 5.66  -44% 
1 Scope 1+2 emissions covers Stora Enso’s production units. Includes the trading of Guarantees of Origin for 
electricity. Joint operations are included in Scope 3 emissions.
2 All comparative figures are revised due to structural changes or additional data after the previous report.
Stora Enso’s carbon footprint, following the financial 
consolidation scope (aligned with ESRS)
 Accounting principles
To align with the ESRS requirements, Stora Enso’s disaggregated GHG 
emissions follow the financial consolidation scope. Hence, the joint 
operations are consolidated line by line into Scope 1, 2, and 3 emissions 
according to the ownership share (50%). This consolidation approach is 
aligned with the Financial Statements but differs from GHG Protocol, where 
joint operations are classified as part of Scope 3.
Scope 1 and 2 emissions include direct and indirect GHG emissions, 
calculated as fossil CO2 equivalents (CO2eq). In addition to CO2, other 
relevant GHG emissions for Stora Enso are methane (CH4) and nitrous oxide 
(N2O), which are generated when using fossil and biomass fuels in the units’ 
power boilers. These gases are converted to CO2eq using their respective 
global warming potential based on the fourth assessment report of the 
Intergovernmental Panel on Climate Change (IPCC), or fuel-specific CO2 
emission factors based on site analysis. The sources of Stora Enso’s Scope 1 
factors are 2006 IPCC Guidelines for National Greenhouse Gas inventories 
(Chapter 2: Stationary Combustion) and, for biogenic emissions, Fuel 
classification 2018 from Statistics Finland. HFCs and SF6 are not material for 
Stora Enso’s carbon accounting.
In 2025, 49% (54%) of Scope 1 emissions were from regulated emission 
trading schemes. For additional information on emissions covered by 
trading schemes, see Financial Statements, note 4.5 Emission rights and 
other non-current assets. In 2025, biogenic emissions related to Scope 1 
amounted to 11.98 (11.86) million tCO2eq.
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Scope 2 GHG emissions are calculated based on purchased electricity and 
heat. The CO2 emission factors used for purchased energy largely follow 
the market-based methodology, meaning that almost all units apply CO2 
factors provided by their energy suppliers. When these are not available, 
the Group applies a country-specific residual mix factor. In the absence of 
residual mix factors, the most recent location-based factors provided by 
the International Energy Agency (IEA) are used. The applied factors do not 
separate the percentage of biogenic CO2. In Scope 2 market-based 
accounting, approximately 96% of purchased energy is covered by 
contractual instruments. The allocation between bundled and unbundled 
instruments is based on estimates, with approximately 96% of the energy 
associated with bundled instruments and 4% with unbundled instruments. 
For both categories, the contractual instruments primarily consist of 
Guarantees of Origin for electricity or Renewable Energy Certificates.
Scope 3 emissions include fossil CO2eq emissions from other sources in the 
upstream and downstream value chain of all production units. Stora Enso 
follows the WBCSD guidance for Scope 3, which defines 15 potential 
categories of emissions. The Group applies an activity-based 
methodology in its Scope 3 accounting. This means that emissions are 
estimated by multiplying the activity data with the relevant carbon 
emission factors.
When determining which categories to include in Scope 3 emissions 
reporting, the Group assesses the materiality of each category based on 
the significance of its associated activities to total emissions. Categories 
considered immaterial or not relevant to the Group’s business operations 
may be excluded from reporting.
Material emission categories included in Scope 3 emissions are reviewed 
whenever new information on data level or regarding accounting 
methodology becomes available. When primary data is not available for 
the carbon emission factors of Stora Enso’s activity data, the Group utilises 
secondary sources.
In the 2025 reporting, the Scope 3 categories, as identified by the GHG 
Protocol, included the below categories.
 
Scope 3 category Method
Purchased goods and 
services (category 1)
Stora Enso utilises raw material volumes to calculate 
category 1 emissions. Primary data, such as LCAs, are 
preferred. In the absence of primary data, selected secondary 
sources, such as EcoInvent and Metsäteho, are utilised.
Fuel and energy related 
activities (category 3)
Stora Enso utilises energy volumes when calculating category 
3 emissions. In the absence of primary data, selected 
secondary sources, such as EcoInvent, are utilised.
Upstream transportation 
and distribution 
(category 4)
Stora Enso utilises transportation distances, volumes, and 
modes to calculate category 4 emissions. In the absence of 
primary data, selected secondary sources, such as The 
Network for Transport Measures (NTM) is utilised.
Processing of sold 
products (category 10)
Stora Enso utilises the volumes of product categories to 
calculate category 10 emissions. Some of the data is obtained 
from primary sources. When primary data is not available, 
selected secondary sources, such as The Alliance for 
Beverage Cartons and the Environment (ACE), the European 
Federation of Corrugated Board Manufacturers (FEFCO), and 
proxy data are used.
The excluded Scope 3 categories and the explanations for exclusion are 
provided in the following table. The share of primary data used based on 
the volume of emissions is approximately 12%. Biogenic emissions that 
occur in the upstream and downstream value chain emissions are 
not calculated.
Scope 3 category Explanation for exclusion
Capital goods
(category 2)
LCA studies show that capital goods account for less than 1% 
o f  C O ₂  e m i s s i o n s  i n  t h e  p a p e r  i n d u s t r y ,  m a k i n g  t h i s  c a t e g o r y  
immaterial.
Waste generated in 
operations (category 5)
Most of the waste and residuals from the Group’s operations 
are treated internally and disposed of in company-owned 
landfills. Consequently, the majority of emissions from waste 
management are accounted for under Scope 1 as internal 
transportation.
Business travelling 
(category 6)
Impact on emissions deemed immaterial (less than 1%).
Employee commuting 
(category 7)
Impact on emissions deemed immaterial (less than 1%).
Upstream leased assets 
(category 8)
Not applicable. All operating units under the Group’s 
operational control (with less than 50% shareholding) are 
included in Scope 1 and 2.
Downstream 
transportation and 
distribution (category 9)
Not assessed. An assessment of transportation by Stora 
Enso’s customers and their customers is ongoing.
Use of sold products 
(category 11)
Not relevant. Relevant only for products that directly consume 
energy during use (engines), fuels and feedstocks (natural 
gas) and products that contain or form GHG that are emitted 
during use (fire extinguisher).
End-of-life treatment of 
sold products
(category 12)
Immaterial. Most of the Group’s products are recycled or 
i n c i n e r a t e d  f o r  e n e r g y  r e c o v e r y ,  w i t h  e n d - o f - l i f e  e m i s s i o n s  
estimated at less than 1% of total Scope 3.
Downstream leased 
assets (category 13)
Not applicable. Stora Enso does not have downstream leased 
assets.
Franchises (category 14) Not relevant. Stora Enso does not operate franchises.
Investments (category 15) Impact on emissions deemed immaterial.
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Total GHG emissions disaggregated by Scopes 1 and 2 and significant 
Scope 3, following the financial consolidation scope (aligned with ESRS)
Total GHG emissions 
disaggregated
Retrospective1 Milestones and target years2
Base 
year 
2019 2024 2025
Change, 
% 2025 2030 (2050)
Annual % 
Target / 
base year
Scope 1 GHG Emissions
Gross Scope 1 GHG 
emissions (CO2-eq, 
million tonnes) 2.43 1.33 1.14  -15 % n/a n/a
Percentage of Scope 1 
GHG emissions from 
regulated emission 
trading schemes (%)  67%  54%  49%  -9 %
Scope 2 GHG Emissions
Gross location-based 
Scope 2 GHG emissions 
(CO2-eq, million 
tonnes) n/a 0.45 0.47  4 %
Gross market-based 
Scope 2 GHG emissions 
(CO2-eq, million 
tonnes) 0.35 0.06 0.05  -26 % n/a n/a
Significant scope 3 GHG emissions
Total Gross indirect 
(Scope 3) GHG 
emissions (CO2-eq, 
million tonnes) 7.28 4.40 4.48  2 % n/a n/a
Purchased goods and 
services 2.17 1.46 1.45  -1 %
Fuel and energy 
related activities 0.54 0.21 0.20  -5 %
Upstream 
transportation and 
distribution 1.28 0.95 1.01  6 %
Processing of sold 
products 3.29 1.79 1.84  3 %
Total GHG emissions
Total GHG emissions 
(location-based) (CO2-
eq, million tonnes) n/a 6.19 6.09  -1 %
Total GHG emissions 
(market-based) (CO2-
eq, million tonnes) 10.06 5.80 5.66  -2 % n/a n/a
1 Comparative figures are revised due to additional data and adjustments in calculation approach.
2 Stora Enso’s science-based targets follow a different consolidation principle (GHG protocol) and are therefore 
disclosed as not applicable in this table. The targets and related performance are reported in ESRS E1-4.
When calculating the GHG intensity per net revenue, Total sales as 
reported in the Financial Statements (Consolidated income statement) 
are used to determine the greenhouse gas emission intensity.
GHG intensity per net revenue, tCO2-eq/EUR million 2025 2024
Total GHG emissions (market-based) per net revenue 607 636
Total GHG emissions (location-based) per net revenue 653 676
GHG removals and storage (E1-7) 
Stora Enso’s business activities are connected with GHG removals and 
carbon storage as the Group’s forests sequester carbon and wood-based 
products store carbon. While the Group does not use these removals or 
storage in its GHG reporting of Scope 1, 2 and 3, the amounts are disclosed 
in accordance with ESRS requirements to provide a coherent picture of the 
positive impacts identified in the double materiality assessment.
Stora Enso’s primary means of reducing fossil carbon emissions is through 
direct action within its own operations and value chain as described in 
ESRS E1-3. The Group’s carbon performance is reported without offsets as 
advised by the Science Based Targets initiative. Although direct action is 
the primary means of emissions reduction, some emissions currently 
remain unavoidable. Therefore, carbon offsetting is used for certain 
products to offer materials that help customers reduce their climate 
impact. Offsetting for products is only done through projects that are 
measurable and third-party verified, such as those in accordance with the 
Gold Standard.
 Accounting principles
Forest carbon sink is calculated as the three-year average of annual CO2 
sequestration in Stora Enso’s owned or leased productive forest lands. The 
carbon stored in the Group’s productive forests is calculated as of end of 
the reporting year. In line with the Financial Statements, the figure contains 
the biological assets of the Group’s joint operations proportional to the 
ownership share (50%). For additional information, see Financial 
Statements, note 4.2 Forest assets.
Accounting methods for forest carbon sinks and storage are not 
standardised, and the chosen method and reporting period can influence 
the results. In sustainably managed forests, carbon sink and storage levels 
are maintained or increased throughout the forests’ management cycle. 
During this cycle, factors such as harvesting and natural disturbances, 
growth rates related to forest ages and types, and other possible events 
can cause short-term variations in the carbon sinks and storage.
For the reporting year, Stora Enso revised its accounting for carbon stored 
in its products to align with the ISO 13 391 standard, which applies a half-life 
decay approach developed by the Intergovernmental Panel on Climate 
Change (IPCC). In 2024, the figure was calculated by the Swedish University 
of Agricultural Sciences (SLU) using the IPCC half-life methodology and 
Stora Enso’s production data. Due to the change in methodology, the 
reported figures are not directly comparable.
Metrics related to GHG removals and storage, 
million tonnes 2025 2024
Total GHG removals
Annual CO2 sequestration in owned or leased 
productive forest lands, three-year annual average 3.8 4.3
Total GHG storage
Total CO2 stored in Stora Enso’s productive forest as 
of 31 Dec 2025 273 295
Carbon stored in Stora Enso’s products1 2.7 2.5
1 Methodology change affecting comparability, see accounting principles.
Anticipated financial effects from material physical 
and transition risks and potential climate-related 
opportunities (E1-9)
Stora Enso has utilised various scenarios to assess climate change 
impacts. The scenarios and their outcomes are further described in ESRS 2 
IRO-1 Climate change. Stora Enso applies the phased-in provision by ESRS 
to disclose only qualitative information on anticipated financial effects.
Anticipated financial effects from material physical risks
Based on the scenario analyses, no material physical climate change risks 
before 2040 were identified. In alignment with these results, no significant 
effects on the Group’s financial position, financial performance and cash 
flow are expected within this long-term timeframe (up to 15 years). Over a 
longer time horizon of 25-30 years, Stora Enso recognises a risk of forest 
fires and insect outbreaks causing damage to the Group’s operations 
globally, including owned and leased forests in Europe, and tree 
plantations in South America and China. In northern regions, milder winters 
may also impact the harvesting and transportation of wood and related 
costs. There is also risk of disruptions in the production, logistics, and supply 
of raw materials and energy due to extreme weather events.
However, there is uncertainty in the resilience analysis, as recent climate 
development suggests that expected time horizons for impacts in 
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different scenarios might be shorter than anticipated. In 2024, the EU’s 
climate service reported that for the first time, global warming had 
exceeded 1.5°C over the course of an entire year.
Stora Enso addresses these physical risks in its own operations and 
upstream value chain by increasing mixed forests and promoting 
sustainable forest management, diversifying wood sourcing, enhancing 
material efficiency, and monitoring water risk areas with relevant 
measures. See ESRS E1-3 for further details on the climate change 
adaption actions.
Anticipated financial effects from material transition risks
When considering medium- and long-term transition risks, Stora Enso 
recognises that in order to reach the net zero target by 2040 and to 
contribute to the transition to a lower-carbon economy, new technologies 
and investments in energy-efficient solutions are essential. In terms of 
Scope 3, the lack of direct control over value chain emissions may create 
challenges in achieving reduction targets. This, in turn, could damage 
Stora Enso’s reputation and brand, potentially resulting in a loss of investor 
and customer confidence, higher cost of capital, and decreased revenues.
A second transition risk relates to evolving regulation and standards, 
particularly regarding the accounting of biogenic emissions, which are 
currently considered carbon-neutral and not included in mitigation plans. 
A change in the accounting standards for these emissions could affect the 
Group’s pathway towards climate neutrality and alter product lifecycle 
assessments.
The transition risks relate to the Group’s production assets and 
industrial operations. Climate change mitigation actions and short- and 
medium- term investments to address these risks are described in ESRS 
E1-3 and in the graph ‘Achieved and expected reductions’ in ESRS E1-4. 
P o t e n t i a l  l o n g - t e r m  i m p l i c a t i o n s  i n c l u d e  s u p p l y  c h a i n  d i s r u p t i o n s  c a u s e d  
b y  c l i m a t e - r e l a t e d  h a z a r d s  o r  r e g u l a t o r y  c h a n g e s  a f f e c t i n g  
upstream partners.
Potential to benefit from material climate-related opportunities
Stora Enso’s climate change mitigation and adaptation actions are 
expected to generate long-term cost efficiencies across operations. 
Sustainable forest management enhances the resilience of forest 
ecosystems, reducing the risk of climate-related damage and preserving 
asset value. In northern latitudes, changing climate conditions may 
support increased tree growth and broader species distribution, 
potentially improving forest productivity and lowering sourcing costs over 
time. The Group’s high energy self-sufficiency reduces exposure to 
external cost volatility and market disruptions. With access to renewable 
biomass and fossil-free electricity, Stora Enso is well-positioned to benefit 
from the green transition.
Climate-related opportunities also relate to Stora Enso’s capability to 
position its business offering to support the global transition to a low-
carbon, circular economy. Growing consumer demand for sustainable 
products and regulatory changes present opportunities by driving market 
growth for renewable products and creating competitive advantage 
through resource efficiency and renewability. Market insights, based on 
AFRY and company information, suggest the global virgin consumer board 
market to grow by approximately 3-4% annually by 2030 from 2024 
(compound annual growth rate, CAGR). This opportunity is addressed by 
the Group’s strategy and investments, as well as innovation and product 
development. One of the key investments is the new production line in 
Oulu, Finland, which will further strengthen Stora Enso’s position in high 
added-value renewable packaging materials. The line is expected to 
reach full capacity during 2027. For actions related to renewable 
packaging, see ESRS E5-2.
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E S R S  E 2  Pollution
Policies related to pollution (E2-1)
The minimum requirement is that all policies and guidelines are to be 
reviewed at least once every two years. Each policy owner shall ensure 
that the documents under their responsibility are reviewed and updated 
within the defined time frame.
The Environmental Guidelines outline the commitment to protecting the 
environment and complying with all applicable legal and regulatory 
obligations. This means applying precautionary management actions to 
mitigate and remedy potential adverse impacts on the environment and 
people. The mitigation and prevention measures focus on ensuring 
compliance with regulations, controlling pollution to air, water, and soil, and 
implementing and maintaining environmental management systems. The 
guidelines specifically address phosphorus, nitrogen, chemical oxygen 
demand (COD), and absorbable organic halogen compounds (AOX), but do 
not cover all pollutants. Additionally, the guidelines do not explicitly address 
the avoidance of incidents and emergencies, as these are expected to be 
documented in local environmental management systems. The guidelines 
do not detail remediation of actual negative impacts, as corrective actions 
are typically defined specifically for each case through dialogue between 
authorities and the relevant production unit. For further details on the 
guidelines, see ESRS E1-2.
Actions and resources related to pollution (E2-2)
The following two key actions carried out in the Group’s own operations 
contribute to the achievement of the objectives outlined in the 
Environmental Guidelines for preventing, mitigating, and remedying 
impacts to air, water, and soil. Both of these continuous, long-term actions 
are aligned with the target of achieving zero environmental non-
compliances.
1) Controlling and monitoring emissions to air and water
Stora Enso implements and maintains processes and systems to monitor 
and control emissions to air and water, thereby managing its pollution-
related impacts and associated risks. This is locally managed and 
implemented at each production site.
• Environmental management systems are considered the primary tool 
tool for implementing precautionary measures and driving continual 
improvements in processes and environmental performance. All 
production sites are required to implement and uphold third-party 
certified environmental management systems. Regular internal and 
external audits ensure that these systems are upheld according to 
established standards and are used to assess performance. At the end 
of 2025, 49 (47) out of the Group’s 58 (57) production sites had an ISO 
14001 certificate.
• Leveraging the best available techniques (BAT) and applying the most 
effective methods at production sites helps to reduce pollution and 
optimise resource use.
• To ensure water quality and compliance with permit limits, Stora Enso’s 
board, pulp, and paper mills continuously monitor effluent discharges, 
including temperature and pH levels, into local water bodies. 
Compliance with environmental permit limits is regulated and controlled 
by relevant authorities, with any deviations promptly reported to them.
• Stora Enso employs advanced technologies such as scrubbers and 
boiler process control systems to reduce air emissions and mitigate 
odours from point sources at its industrial units. These emissions 
primarily stem from fuel combustion for energy generation and from 
production processes. As an example, Stora Enso is investing in the 
Heinola fluting mill in Finland to renovate the sulphur furnace and 
absorption tower, aiming to reduce sulfur emissions by approximately 
30% and enhance chemical recovery efficiency. The project is scheduled 
for completion in autumn 2026.
2) Addressing environmental incidents and liabilities
Stora Enso addresses the management of environmental incidents by 
maintaining a group-wide reporting and management process. The 
approach aims to ensure regulatory compliance, adherence to permits, 
and continuous improvement. It involves the following steps:
• Significant events are reported to the Board’s Sustainability and Ethics 
Committee, and are also included in the externally published Annual 
Report each year. This process aligns with the Environmental Guidelines, 
which prioritise regulatory compliance, adherence to permits, and the 
target of zero environmental incidents.
• Root cause analysis is carried out for each incident, and corrective and 
preventive measures are decided accordingly. The analysis findings are 
shared internally for ongoing improvement and prevention efforts.
• Internal investigations are conducted with the involvement of relevant 
internal and external stakeholders for each incident. The timeframe for 
completion varies depending on the nature of the case. Collaboration 
and dialogue with the relevant authorities are managed individually for 
each case.
• Corrective and preventive measures may include, for example, training 
of the Group’s own employees and suppliers, and installation of new 
equipment. In some instances, Stora Enso is also subject to potential 
fines from local authorities. The cases that occurred, along with the 
corrective short-term actions and remediation taken in 2025, are 
described in ESRS E2-3.
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Material impacts, risks and opportunities (ESRS 2 SBM-3)
Description
Impact, risk, 
or opportunity Time horizon
Location in the value 
chain
Related sub-topic or
sub-sub-topic
Emissions to air and effluents to water are generated from industrial 
operations.
Actual negative impact Short, medium, and 
long term
Own operations, 
joint operations
Pollution of air/water
Significant environmental incidents occur at industrial operations and 
forestry (wood supply) operations.
Actual negative impact Short, medium, and 
long term
Own operations Pollution of air/water
Stora Enso has an environmental provision related to remediation of an 
existing condition caused by past operations. see E2-2. Within Stora Enso’s 
own organisation, thresholds for pollution of soil are not exceeded.
Actual negative impact Short, medium, and 
long term
Own operations Pollution of water/soil
Risk of pollution-related environmental non-compliance, such as exceeding 
permit limits. Incidents may damage Stora Enso’s reputation and brand, 
which may result in a loss of investor and customer confidence leading to 
higher cost of capital and decreased revenues. Incidents may also lead to 
fines and other financial liabilities.
Risk Short, medium, and 
long term
Own operations Pollution of air/water

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• Stora Enso has environmental provisions related to remediation of an 
existing condition caused by past operations. The most material 
provision being the agreement between Stora Enso and the City of Falun 
that obligates the Group to purify runoff water from the Kopparberg 
mine before releasing the water into the environment. The provision at 
year-end amounted to EUR 26 (27) million. For additional information on 
all environmental provisions, see Financial Statements, note 4.9 
Provisions.
Current and future resources related to pollution
Investments in new technology and upgrading of existing equipment are 
necessary to control and reduce environmental pollution and its impacts. 
These improvements are targeted at enhancing quality of air and water, 
maintaining compliance, and minimising the risk of accidental spills into 
the environment. In 2025, Stora Enso’s total environmental investments 
amounted to EUR 126 (120) million. These investments were mainly targeted 
at improving the quality of air and water, to enhance resource and energy 
efficiency, and to minimise the risk of accidental spills. In 2025, the Group’s 
environmental investments related to emissions to air and water 
amounted to EUR 86 (93) million. Future investments will be decided by 
prioritising required improvements at industrial units.
Stora Enso’s environmental costs in 2025, excluding interest and including 
depreciation, totalled EUR 214 (208) million. These costs include taxes, fees, 
refunds, permit-related costs, and repair and maintenance costs, as well 
as wastewater treatment chemicals and certain other materials. In 2025, 
the Group’s environmental costs related to emissions to air and water 
totalled EUR 71 (75) million.
Targets related to pollution (E2-3)
Stora Enso has a continuous target of zero significant non-compliance 
events to support and promote its environmental policies and prevent 
negative impacts.
Target Scope
Baseline year 
and value 2025 2024
Continuous target of 
zero significant non-
compliance events
Own operations 2017: 10 8 24
Of which related to 
pollution of air 3 4
Of which related to 
pollution of water 3 8
Other (waste handling1) 1 0
1 The incident categorised as ‘Other’ relates to event described on the third row in the table to the right.
In 2025, both the total number of incidents and the number of non-
compliance incidents related to air and water decreased compared to the 
previous year; however, the target was not met. Stora Enso continues to 
focus on preventive measures and conducts root cause analyses of 
events to drive continuous improvement.
 Accounting principles
The target is measured as the number of significant non-compliance 
events occurred during the reporting year. The target includes Stora Enso’s 
own business operations: production and harvesting sites.
A non-compliance in pollution typically means crossing a specific local 
monthly, quarterly, or annual permit limit of air pollutants, or emission to 
water. The incidents related to pollution of air and water are reported per 
production site, based on their specific environmental permissions.
The target focuses on controlling air pollutants and their specific loads, as 
well as emissions to water and their specific loads, since crossing of 
monthly, quarterly, or annual local permit is considered as a significant 
non-compliance event. The target is not based on conclusive scientific 
evidence, but rather on legal compliance. The target is monitored based 
on the group-wide reporting process described in ESRS E2-2. Stakeholders 
were not included in the target setting.
In alignment with the Corporate Sustainability Reporting Directive, the 
target is disclosed also in ESRS E4-4, covering non-compliance cases 
related to biodiversity and ecosystems. The cases related to pollution of air 
and water are presented in the below table.
Location Description of the event Corrective and preventive measures
Ostrołęka 
mill, Poland
Two events: Water permit 
limit exceeded for chemical 
oxygen demand (COD) and 
suspended solids due to 
wastewater overload at the 
treatment plant while 
emptying the retention tank
Immediate reduction of COD load and 
preparation of the treatment plant for future 
load increase. Further process adjustments 
by improving aeration, introduction of 
automatic sewage pumping system, and 
staff training.
Skoghall mill, 
Sweden
The flue gas measurement 
equipment on the bioboiler 
exceeded the permitted 10-
day failure limit
Flue gas analyser replaced during a 
maintenance stop.
Skutskär mill, 
Sweden
Organic material was 
deposited at a landfill despite 
the ban, due to a failure in 
waste labelling
Landfilling stopped and waste stored at the 
landfill to capture washing liquids in the 
leachate. Awaiting alternative disposal 
management method and to reduce fiber 
content in the waste.
Skutskär mill, 
Sweden
At one of the recovery boilers, 
total annual sulphur emissions 
exceeded the limits set by the 
BAT conclusions
Actions completed in boiler operations, 
analysis instruments, and operator training. 
Emissions are now within the permitted 
limits.
Varkaus mill, 
Finland
Nitrogen oxide emissions (NOx) 
exceeded the annual permit 
limit due to excess air entering 
the combustion process
Improvements made to combustion 
process control. Investments in the 
combustion air fan planned for 2026 to 
reduce excess air and NOx emissions.
Zdirec mill, 
Austria
Leakage of impregnating 
chemicals from the mill 
premises to the river 
Doubrava due to uncontrolled 
flushing of the new 
impregnation line into the 
storm sewer
Sewers under the impregnation station 
cleaned both onsite and offsite towards the 
river. Camera monitoring of the sewerage 
system installed to support further 
inspections and clarify the flow path. The 
official report from the authorities still 
pending.
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Pollution of air, water and soil (E2-4)
 Accounting principles
According to the European Sustainability Reporting Standard on Pollution, 
the consolidation of each pollutant includes only the emissions from 
facilities for which the applicable threshold value specified in Annex II of 
Regulation (EC) No 166/2006 is exceeded. For particulate matter (PM), Stora 
Enso reports the total amount, not specifically PM10.
The reporting of pollutants is a combination of unit-specific direct 
measurement, estimates, and calculations of emissions. Aligned with Stora 
Enso’s Financial Statements, the figures also contain emissions to air and 
water generated by the Group’s joint operations according to the 
ownership share (50%).
Water effluents are monitored using both online and offline measurements, 
such as standard methods for the forest products industry. Board, pulp, 
and paper production sites monitor process water discharges, and water 
pollutants such as suspended solids, chemical oxygen demand, total 
organic carbon, phosphorous, nitrogen, and absorbable organic halogen 
compounds. Monitoring and reporting are conducted daily, monthly, or 
annually depending on the sites’ operations, pollutants, and environmental 
permits. The share of the measure obtained from direct measurement is 
estimated to be almost 100%.
Third party assessments are used as a basis for estimates, in particular for 
heavy metal related emissions when direct measuring equipment is not 
available. In these cases, the average of third-party measured values is 
applied for the full year. The data is reported by each mill to Group’s 
environmental reporting system based on direct measurements or 
estimates based on third party calculations.
Non-compliances and incidents related to pollution in 2025 are disclosed 
as part of ESRS E2-3, detailing short-term corrective and preventive 
actions taken.
The thresholds for pollution of soil in the Group’s own operations are not 
exceeded, and therefore not disclosed as part of ESRS E2-4.
Emissions to air by pollutant Unit 2025 2024
Ammonia (NH3) tonnes 282 189
Carbon monoxide (CO) tonnes 5,067 5,202
Chlorine and inorganic compounds (as 
HCl) tonnes 47 41
Nitrogen oxides (NOx/NO2) tonnes 7,429 7,435
Non-methane volatile organic 
compounds (NMVOC) tonnes 1,394 1,352
Particulate matter (PM) tonnes 981 1,178
Sulphur oxides (SOx/SO2) tonnes 312 335
Copper and compounds (as Cu)1 kg n/a 130
PCDD + PCDF (dioxins + furans) (as Teq)kg 3 30
1  Not applicable for 2025, as the threshold was not exceeded.
Emissions to water by pollutant Unit 2025 2024
Halogenated organic compounds (as 
AOX) tonnes 221 195
Total nitrogen tonnes 429 517
Total organic carbon (TOC) (as total C 
or COD/3) tonnes 6,138 4,593
Total phosphorus tonnes 71 63
Zinc and compounds (as Zn) tonnes 11 9
Cadmium and compounds (as Cd) kg 312 312
Copper and compounds (as Cu) kg 1,536 1,370
Mercury and compounds (as Hg) kg 71 15
Nickel and compounds (as Ni) kg 895 570
Polycyclic aromatic hydrocarbons 
(PAHs)1 kg 315 n/a
1 Not applicable for 2024, as the threshold was not exceeded.
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E S R S  E 3  Water and marine resources
Policies related to water and marine resources (E3-1)
The minimum requirement is that all policies and guidelines are to be 
reviewed at least once every two years. Each policy owner shall ensure 
that the documents under their responsibility are reviewed and updated 
within the defined time frame.
The Environmental Guidelines are described in ESRS E1-2. For managing 
water-related negative impacts and risks defined in the above table in 
SMB-3, the guidelines set the founding principles for efficient, low, and 
optimised water use. This encompasses water withdrawal, water 
treatment, and process water discharges. More specifically, the guidelines 
set out a commitment to reducing the impacts of water use, and 
enhancing efficiency and recycling in water treatment to support more 
sustainable sourcing of water. They also emphasise improving water 
quality, minimising pollution, and mitigating or remediating potential 
adverse impacts on the environment and people.
ISO 14001 environmental management system comprises on-site 
management procedures for identifying and assessing material water-
related impacts, risks, and opportunities focusing on the local material 
water issues with the highest priority. Process water is minimised with 
tailored activities to achieve continuous improvements. The wastewater 
treatment facilities that treat the process water from production processes 
aim to prevent ecological harm cased by discharged water. The impacts 
on local communities are addressed as part of the Environmental and 
Social Impact Assessments for new industrial projects, as well as through 
due diligence processes for mergers, acquisitions, and divestments.
Most of the production units are located in areas where water is generally 
abundant, and water scarcity is closely monitored. Water risks are 
identified for ground and surface water scarcity, failures of water-related 
equipment, flooding, run-off and rising water levels, and for raw water 
temperature implications. The Environmental Guidelines outline the 
commitment to drive proactive water stewardship in this areas.
Actions and resources related to water and 
marine resources (E3-2)
Stora Enso’s three key long-term actions to improve water use efficiency 
and to mitigate potential negative impact in areas of water scarcity are 
described below. The actions contribute to the objectives of the 
Environmental Guidelines on protecting the environment.
1) Site-specific investments in technology and equipment are done on an 
annual basis to enhance water efficiency. In 2025, the Group supported 
water related investments totalling approximately EUR 37.2 (40.6) million. In 
the Financial Statements, these investments are included in the note 4.1 
Intangible assets, property, plant and equipment and right-of-use assets 
(under the corresponding ‘Additions’ rows). This action supports the targets 
of reducing specific process water discharges and decreasing the trend 
for total water withdrawal as described in ESRS E3-3.
2 ) Action is taken locally to manage the potential impact related to 
production units that are located in areas with water stress. In 2025, six 
production units were located in areas of high water stress. WRI Aqueduct 
Water Risk Atlas is used to assess water-related risks, providing information 
on water scarcity, stress, flooding, and water quality. Examples of initiatives 
from year 2025 to address water stress include:
• At the Langerbrugge mill in Belgium, water discharges were reduced by 
approximately 7% compared to the previous year mainly due to 
enhanced recycling of water effluents.
• Beihai mill in China continuously seeks to enhance water efficiency. For 
example, the mill has optimised the use of sealing water in effluent 
treatment and improved water circulation processes in food service 
board production to reduce discharged water and fresh water 
consumption.
3) Continuous efforts are taken at the production sites to optimise water 
use by utilising only freshwater from surface, ground, and municipal 
sources. After use, the process water is cleaned at treatment plants before 
being returned to the local ecosystem. As an outcome, almost 95% (95%) of 
water is recycled back into the environment, while only around 5% (5%) of 
water is consumed in production processes. This action helps to mitigate 
the impact generated by both water consumption and withdrawal.
For the Group’s environmental costs and investments, see ESRS E2-2.
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Material impacts, risks and opportunities (ESRS 2 SBM-3)
Description Impact, risk, 
or opportunity Time horizon Location in 
the value chain
Related sub-topic or
sub-sub-topic
Stora Enso’s industrial operations withdraw significant amounts of water, as the 
production of board, pulp, and paper requires substantial volumes, accounting 
for over 99% of the Group’s total withdrawal.
Actual negative 
impact
Short, medium, and 
long term
Own operations Water withdrawals
Water-intensive production processes. Actual negative 
impact
Short, medium, and 
long term
Own operations, joint 
operations
Water consumption
Water withdrawal and consumption occur in areas of water scarcity which may 
impact local water sufficiency.
Potential negative 
impact
Short, medium, and 
long term
Own operations Water withdrawals; 
Water consumption
Industrial operations impact freshwater ecosystems through water discharges. Actual negative 
impact
Short, medium, and 
long term
Own operations, joint 
operations
Water discharges
Majority of the production sites are located in areas with low water stress which 
contributes to consistent and sufficient water supply and ensures operational 
stability and efficiency. Moreover, it supports the Group’s long-term resilience 
against climate change as areas with a low risk of water inadequacy are less 
likely to experience the adverse impacts of climate change, such as prolonged 
droughts or water scarcity.
Opportunity Medium and long term Own operations Water withdrawal; 
Water consumption

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Targets related to water and marine resources (E3-3)
To reduce its negative impacts related to water use, Stora Enso has 
established a target on reducing specific process water discharges and 
the total water withdrawal. The targets are in line with the Environmental 
Guidelines, defining the founding principles and Group requirements for 
water management. 
Target, m3/tonne Scope
Baseline year 
and value 2025 2024
Decrease in process 
water discharges per 
saleable tonne of 
board, pulp, and paper 
by 17% by 2030
Selected board, 
pulp, and paper 
production sites
2019: 36 m3 32 34
Continuous target on 
decreasing the trend 
for total water 
withdrawal per 
saleable tonne
All board, pulp, 
and paper 
production sites
2016: 60 m3 56 60
In 2025, water discharges decreased compared to the previous year, 
representing an 10% reduction from the baseline year. Total water 
withdrawal also declined, in line with the target for a decreasing trend. 
Stora Enso continues to enhance its water performance through targeted 
investments and ongoing improvements in water management and 
efficiency.
 Accounting principles
The targets have been established for operations with most significant 
impact on water use, and include process water and cooling and non-
contact water intake. Process water discharges include the discharges by 
selected board, pulp, and paper production sites as cubic metres (m3).
The target for total water withdrawal contains all board, pulp, and paper 
production sites. The water withdrawal and discharges are normalised by 
dividing water m3 with the total production of board, pulp, and paper as 
saleable tonnes (t) during the same period. Detailed accounting principles 
are available in ESRS E3-4.
Setting a target on water is not mandated by legislation. External 
stakeholders were not involved in the target setting. The targets are not 
based on conclusive scientific evidence.
Water consumption (E3-4)
Production of board, pulp, and paper requires substantial amounts of 
water, accounting for over 99% of the Group’s total water withdrawal. 
These units predominantly draw process and cooling water from surface 
water sources, with 98% (98%) of the total water withdrawal derived from 
surface water in 2025. Approximately 2% (2%) is sourced from municipal or 
groundwater supplies. According to the WRI Aqueduct Water Risk Atlas 
tool, six of the Group’s production units operate in regions with High 
Baseline Water Stress: Beihai in China, Langerbrugge and Roeselare in 
Belgium, Wujin and Qian´an corrugated units in China, and Łódź in Poland. 
During 2025, these units withdrew 14.7 (15.7) million m3 of water, which is 4% 
(4%) of the Group’s total water withdrawal. The process water discharges 
of these units were 11.6 (12.7) million m3, which is 5% (6%) of the Group’s total 
process water discharges. Stora Enso does not store water within is 
production sites.
 Accounting principles
Aligned with the Financial Statements, the water related metrics include 
the Group’s joint operations according to the ownership share (50%). Stora 
Enso continuously improves the accuracy of water reporting and 
consolidation of data. The data is reported by each mill to the Group’s 
environmental reporting system.
Total water withdrawal includes process water and cooling and non-
contact water intakes by all industrial units as cubic metres (m3). Total 
water discharges include the discharges of all industrial units as cubic 
metres (m3).
Stora Enso has implemented a standardised procedure to report water at 
board, pulp, and paper units, where cooling and process water flows are 
measured in different physical positions at the units. Total water 
withdrawal is a sum of total water withdrawals from ground, municipal, 
and surface water sources at all production sites. Total water discharge is 
a sum of process water discharges as well as cooling and non-contact 
water discharges from all production sites. The share of the measure 
obtained from direct measurement is estimated to be approximately 60%.
The reported water consumption includes estimated water in products, 
residuals, and waste, as well as volumes of evaporated water to air from 
process water cooling towers, from wastewater treatment plants, and 
from cooling towers for non-contact water at the Group’s mills. Sawmills, 
corrugated production units, and offices are included in the consumption 
figures based on estimates. The calculation of water consumption builds 
on the Confederation of European Paper Industries’ (CEPI) method of 
describing water use and consumption, and the Swedish Environmental 
Research Institute’s (IVL) report on Water Profile for the Swedish forest 
industry. Almost 100% of the total volume of water consumed is determined 
through a combination of calculation and estimation.
The total water recycled and reused is reported based on the amounts of 
reused cooling and non-contact water.
Water intensity ratio is calculated as the Group’s total water consumption 
in m3 per million EUR of the Group’s total sales as reported in the Financial 
Statements.
Metrics related to water Unit 2025 2024
Total water withdrawals million m3 386 401
Total water discharges million m3 360 379
Total water consumption million m3 20.5 19.6
Total water consumption in areas at 
water risk, including areas of high-
water stress million m3 2.0 1.6
Total water recycled and reused million m3 16.9 18.6
Water intensity ratio m3/million EUR 2,203 2,169
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ESRS E4 Biodiversity and ecosystems
Transition plan and consideration of biodiversity and 
ecosystems in strategy and business model (E4-1)
In 2021, Stora Enso introduced a new sustainability agenda centred around 
three focus areas: climate, biodiversity, and circularity. This was preceded 
by an assessment of Stora Enso’s business model and strategic resilience 
in relation to future key sustainability risks and opportunities. The 
assessment process engaged internal stakeholders from all business 
areas, while also seeking input from external experts. The assessment did 
not include consultations with affected communities. The assessment’s 
time horizons were set to 2030 and 2050.
The assessment’s focus was on transition events, such as increasing 
legislation and external stakeholder pressure, as well as physical and 
systemic risks. The assessment covered Stora Enso’s own operations and 
incorporated a number of scientific studies and analysis, one of the most 
important being the Planetary Boundary concept by Stockholm Resilience 
Center. The analysis did not cover the upstream and downstream value 
chain.
The results of the analysis indicated that biodiversity loss is proceeding at 
an accelerated speed, and stakeholders expect companies to address 
systemic climate and biodiversity related risks beyond their own industries. 
The analysis suggests that, to future-proof Stora Enso’s business and 
strategy, it is crucial for its operations to reduce emissions, for its products 
to store carbon and contribute to mitigating biodiversity loss, and for the 
company to implement responsible practices that protect the 
environment.
As an outcome, Stora Enso established a transition plan designed for 
driving new opportunities and future-proofing the Group’s business. For 
biodiversity, an ambition was established on achieving a net-positive 
impact on biodiversity in the Group’s own forests and plantations by 2050. 
The long-term goal is supported by a set of biodiversity indicators, with 
defined intermediate targets. Furthermore, global advocacy and research 
partnerships — such as cooperation with the International Union for the 
Conservation of Nature (IUCN) and the International Sustainable Forestry 
Coalition (ISFC) — are integral to advancing biodiversity. The resilience plan 
for climate was updated during 2025 and is presented under ESRS E1-1.
In November 2025, Stora Enso completed a strategic review of its Swedish 
forest assets and initiated preparations for the separation of the assets 
into a new publicly-listed Swedish. The demerger is planned to be 
completed in 2027. The current ESRS E4 disclosure represents the company 
structure and business model as of 31 December 2025.
E4 disclosure requirement related to ESRS 2 SBM-3
Stora Enso had a total of 1.9 (2.1) million hectares of owned or leased lands 
in 2025. Additionally, the Group purchased wood from approximately 
22,400 (21,000) private forest owners. The Group does not have direct 
impact on land-use change as existing forests are not converted to 
agriculture, plantations, or other purposes. In the double-materiality 
assessment, no material negative impact with regards to land 
degradation, desertification, or soil sealing was identified.
In addition to its own forestry sites, Stora Enso sources most of its wood 
from private and other forest owners in Finland, Sweden, Norway, the 
Baltics, and Central Europe. These harvesting sites are considered to be 
part of the Group’s upstream value chain. 
As per the Corporate Sustainability Reporting Directive, Stora Enso’s 
material forestry sites fall into two categories: sites under operational 
control and sites within the value chain, where the Company holds 50% 
ownership, or less. The Group’s own forests and harvesting sites of the 
local forest owners may be located near biodiversity-sensitive areas, but 
significant negative impact is not typically caused to these habitats due 
to strict policies and harvesting practices. Forest operations may affect 
threatened species, with risks mitigated through strict guidelines and 
measures that protect and promote habitats. See ESRS E4-3 ‘Resources to 
manage biodiversity and forest management’ for an environmental 
incident that took place in 2024.
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Material impacts, risks and opportunities (ESRS 2 SBM-3)
Description
Impact, risk, 
or opportunity Time horizon
Location in 
the value chain
Related sub-topic or
sub-sub-topic
Active biodiversity management and conservation in forest operations, such 
as spatially optimising the volume of deadwood and protection of key 
habitats, contribute to positive biodiversity impact.
Actual positive impact Short, medium, and long 
term
Upstream value chain, 
Own operations, joint 
operations
Direct exploitation
Forest management and harvesting in and near key species or habitats can 
have a negative impact on biodiversity.
Actual and potential 
negative impact
Short, medium, and long 
term
Upstream value chain, 
Own operations
Direct exploitation; 
Endangered species 
and their habitat
Dependency on wood as raw material exposes Stora Enso to wood market 
price fluctuations.  For example, evolving forestry and biodiversity regulations 
related to harvesting levels and forest management choices could lead to a 
lower supply of raw material and/or higher wood prices,  which may adversely 
affect the competitiveness of products.
Risk Short, medium, and long 
term
Upstream value chain, 
Own operations
Impacts and 
dependencies on 
ecosystem services
Global biodiversity decline can reduce the value of Stora Enso’s forest assets, 
decrease forests’ resilience to external calamities, and impact the 
acceptability of wood as raw material.
Risk Medium and long term Own operations, joint 
operations
Impacts and 
dependencies on 
ecosystem services
Risk of non-compliance related to harvesting, such as damage to ecologically 
sensitive areas or non-compliance with regulations. Incidents may damage 
Stora Enso’s reputation and brand, which may result in a loss of investor and 
customer confidence leading to higher cost of capital and decreased 
revenues. Incidents may also lead to fines and other financial liabilities.
Risk Short, medium, and long 
term
Upstream value chain, 
Own operations
Direct exploitation
Through its own and leased forest assets, Stora Enso ensures a reliable and 
consistent wood supply, reduces reliance on external suppliers, promotes 
environmental stewardship through sustainable forestry practices, preserves 
and actively manages biodiversity, and contributes to carbon sequestration 
efforts.
Opportunity Short, medium, and long 
term
Own operations, joint 
operations
Impacts and 
dependencies on 
ecosystem services
Biodiversity enhancement, supported by new technology developments, 
could increase forest asset and ecosystem values. Stora Enso leverages 
science, technology, and data to optimise biodiversity management and 
conservation across its forestry operations.
Opportunity Short, medium, and long 
term
Upstream value chain, 
Own operations, joint 
operations
Impacts and 
dependencies on 
ecosystem services; 
Endangered species 
and their habitat
Climate change related physical risks on biodiversity and the Group’s forest assets are described in ESRS E1.

===== SIDA 107 =====

Forestry site
Direct 
operational 
control
Ecological 
status
Activities 
impacting 
ecological 
status
Biodiversity- 
sensitive areas 
impacted
Sweden (own 
forest)1
Yes Moderately 
modified
Forestry 
operations
No
China1 Yes Largely 
modified
Forestry 
operations 
(plantations)
No
Brazil1 No Largely 
modified
Forestry 
operations 
(plantations)
No
Uruguay1 No Largely 
modified
Forestry 
operations 
(plantations)
No
Tornator - 
Finland, Estonia, 
Romania2
No Moderately 
modified
Forestry 
operations
No
Private forest 
owners: Finland, 
Sweden, Norway, 
Baltics
No - Forestry 
operations
Yes
1 Stora Enso has identified a financial dependency on biodiversity and ecosystems related to the sites it owns 
directly or jointly, as the biodiversity and ecosystem condition may impact the value of the assets in the long-
term.
2 Tornator Oyj is a 41%-owned Finnish associate company.
Policies related to biodiversity and ecosystems (E4-2)
The minimum requirement is that all policies and guidelines are to be 
reviewed at least once every two years. Each policy owner shall ensure 
that the documents under their responsibility are reviewed and updated 
within the defined time frame.
Wood and Fibre Sourcing, and Land Management Policy
Stora Enso’s Wood and Fibre Sourcing, and Land Management Policy 
outlines the approach to responsible sourcing of wood and fiber from 
sustainably managed forests and tree plantations. The policy addresses 
sustainable forest and land management practices, which safeguard the 
health and ecological functions of ecosystems and help conserve 
biodiversity, soil, and water resources. The policy also addresses the 
prevention of negative impacts and potential risks to biodiversity that may 
arise from unsustainable forest management and harvesting practices or 
levels. The Environmental Guidelines introduced in ESRS E1-2 further 
elaborate on the policy objectives.
Key contents of the policy include:
• utilising wood in an efficient way to ensure high added value from the 
resources;
• promoting sustainable forest and land management practices with 
forest owners;
• monitoring the condition of forests and results of management 
activities, and using, for example, forest certifications to promote and 
verify sustainable forest management;
• utilising traceability systems to ensure that all the wood and fiber used in 
own operations originates from legal sources and does not result in 
deforestation or forest degradation;
• designing and managing tree plantations as part of local land use and 
contributing to sustainable livelihoods;
• recognising the unique economic and cultural rights of indigenous 
peoples.
In addition, the policy forbids procurement of wood and fiber which:
• has been illegally harvested;
• logged in protected areas or areas currently undergoing official 
processes of designation for protection, unless the logging is clearly in 
line with national conservation regulations;
• harvested in forests where High Conservation Values are threatened by 
logging;
• sourced from areas undergoing conversion from forest or other wooded 
ecosystems to plantations or non-forest uses, unless such conversion is 
justified on grounds of net social and environmental gain; or
• harvested in violation of traditional rights or civil rights.
Biodiversity and ecosystem protection are included in this policy, which 
covers owned forests, leased forests, and managed sites located in or 
n e a r  b i o d i v e r s i t y - s e n s i t i v e  a r e a s .  S t o r a  E n s o  h a s  n o t  a d o p t e d  p o l i c i e s  
specifically to sustainable sea practices. The policy does not specifically 
relate to material dependencies, or physical and transition risks or 
opportunities.
The scope of the policy covers the Group’s own operations and upstream 
value chain, and the EVP in each respective business area managing the 
forest assets is accountable for ensuring its implementation. The policy is 
made available on the Group’s website. 
Supplier Code of Conduct
The Supplier Code of Conduct sets the minimum requirements on 
suppliers with the obligation to protect the environment, among other 
topics. It specifically obliges the supplier to understand the connections 
that its business may have on impacts on biodiversity and, as relevant, act 
to safeguard biodiversity. The policy addresses the negative impacts and 
risks, which may result from unsustainable forest management practices. 
The Supplier Code of Conduct is required to be signed as part of the pre-
qualification process. See ESRS E1 for further details on the policy.
Actions and resources related to biodiversity 
and ecosystems (E4-3)
Sustainable forest management and biodiversity
Stora Enso strives to actively enhance biodiversity as an integral part of 
sustainable forest management practices. The key actions below relate to 
enhancing positive biodiversity impact, mitigating negative impacts and 
risks related to unsustainable forestry practices, and the opportunities 
enabled by new technology for optimised biodiversity management and 
conservation. They support the ambition of a net positive impact on 
biodiversity and zero environmental non-compliances, as well as the 
objectives of the Wood and Fibre Sourcing, and Land Management Policy.
1) Retention forestry (even-aged forestry), the prevalent method in the 
Northern region, involves thinning middle-aged forests to promote growth 
of vital trees. Final harvesting involves clear-felling while retaining 
biodiversity features such as living trees in groups and buffer zones, as well 
as deadwood. The forest is regenerated by planting seedlings adapted to 
the site and complemented by natural regeneration. In 2025, 
approximately 41 (39) million tree seedlings were planted or delivered for 
planting in the Group’s forests in the Nordics.
2) Stora Enso applies active, locally adapted biodiversity management in 
its own forests and plantations, with a specific focus on safeguarding 
endangered species and maintaining set-aside areas for nature 
conservation. In Finland, Sweden, and the Baltics, collaborations with 
private forest owners provide services and raise awareness to promote 
biodiversity. Examples from the reporting year include:
• In its own forests, Stora Enso continued to use targeted measures to 
maintain habitats for threatened species such as the white-backed 
woodpecker, long-horned beetle, and sand lizard, creating conditions for 
biodiversity at the landscape level.
• In Finland, the Group collaborated with Tornator to restore 85 hectares of 
wetlands. Over time, restored wetlands are expected to function as 
carbon sinks, contributing to climate mitigation.
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• In Sweden, the focus has been on restoring streams, with three projects 
completed in 2025 to return waterways to a natural state and create 
diverse aquatic habitats for fish, aquatic animals, and birds.
• In 2024, Veracel, Stora Enso’s joint operation in Brazil, signed a long-term 
agreement with Biomas to restore 1,200 hectares of degraded set-aside 
areas, with financing linked to the future sale of carbon credits. The 
restoration activities were started in 2025.
3)  Stora Enso advanced its use of AI and other technologies to better 
integrate biodiversity and wood production, including digital forest twins 
that model forest management actions and predict impacts on rare 
species. As one significant step, the partnership project between Stora 
Enso and International Union for Conservation of Nature (IUCN), launched 
in early 2024 to promote positive forest biodiversity outcomes, was 
completed in 2025. Its goal was to develop a framework enabling the 
forestry sector to achieve a net positive biodiversity impact through active 
forest management. The main outcome is the proof-of-concept 
integration of the STAR (Species Threat Abatement and Restoration) 
biodiversity metric, developed by IUCN, with Stora Enso’s forest planning 
system. The framework enables informed prioritisation of biodiversity 
actions across forest landscapes over time, ensuring that the most urgent 
threats to biodiversity are addressed first and in the most effective way to 
minimise negative impact on wood production. The results, including 
technical details, were intended for publication in scientific journals and 
were presented at the IUCN World Conservation Congress 2025.
4) In 2025, Stora Enso implemented strengthened training practices, 
revised ways of working, and enhanced control mechanisms operations to 
enforce compliance with company guidelines and mitigate risks related to 
harvesting activities. These precautionary actions were based on an audit 
conducted in 2024–2025, reviewing all wood procurement planning, 
implementation, and control processes. The implementation and 
sufficiency of the corrective actions have been verified by an external 
auditor. See also, ‘Resources to manage biodiversity and forest 
management’.
Forest certification and deforestation-free practices
Stora Enso takes continuous actions to respond to the objectives of the 
Wood and Fibre Sourcing and Land Management Policy and the Supplier 
Code of Conduct on responsible sourcing of wood and sustainable forest 
management practices. Continuous forest regeneration measures are 
complemented by the following three continuous actions to address the 
risk related to non-compliance in harvesting operations.
1) Stora Enso has implemented forest certifications and third-party 
traceability systems to verify the origin of the wood and to ensure that it 
comes from sustainable sources. These include the Forest Stewardship 
Council’s (FSC) Chain of Custody/Controlled Wood scheme, the Chain of 
Custody/Due Diligence System of the Programme for the Endorsement of 
Forest Certification (PEFC), and the ISO 14001 environmental management 
system. The action encompasses all wood sourcing operations (own 
operations and upstream value chain) and contributes to the target on 
forest certification coverage described in ESRS E4-4.
2) Stora Enso does not establish tree plantations in natural forests, 
protected areas, or water-sensitive locations, and only uses land with low 
biodiversity values, such as former pastureland. The action encompasses 
plantations in South America and China.
3) Stora Enso has prepared for compliance with the EU Deforestation 
Regulation by enhancing due diligence processes and IT systems to 
ensure supply chain transparency and regulatory alignment on 
deforestation.
For engagement with affected communities, see ESRS S3.
Resources to manage biodiversity and forest management
At the end of 2025, Stora Enso’s forest assets, including leased land, were 
valued at EUR 8.5 (8.9) billion, spanning 1.9 (2.1) million hectares globally. In 
September 2025, Stora Enso divested approximately 175,000 hectares of 
Swedish forest land, equivalent to about 12.4% of its Swedish forest land 
holdings, and retains a 15% ownership of the sold company. Stora Enso 
meets 35% (36%) of its wood raw material needs from its own sources and 
long-term agreements. The Group’s forests assets contribute to carbon 
sequestration (described in ESRS E1-7), biodiversity conservation, and the 
mitigation of financial risks related to wood dependency and availability. 
For additional information on Stora Enso’s forest assets and related 
valuation, see Financial Statements, note 4.2 Forest Assets.
In November 2025, the Group completed a strategic review of its Swedish 
forest assets as part of its stronger focus on renewable materials and 
packaging and initiated preparations for the separation of the assets into 
a new publicly-listed Swedish company through a statutory partial cross-
border demerger. The demerger is planned to be completed in 2027.
In addition to owning forests, Stora Enso’s current resources (and those 
anticipated for the future) to manage biodiversity and forest 
management include operative costs related to personnel in the 
biodiversity programmes and forest management, operating tree 
nurseries, forest certification fees, and the development of AI and other 
technologies.
In 2024, an environmental incident occurred at Hukkajoki, Finland, where 
forest activities caused significant harm to an endangered freshwater 
mussel species at one harvesting site. In 2025, Stora Enso and Metsähallitus 
Parks & Wildlife Finland signed a co-operation agreement until 2030 to 
improve the protection practices of the highly endangered freshwater 
pearl mussel in Finland. During the contract period, mussel habitats will be 
mapped, inventoried and restored, watercourses will be restored and 
managed, and information system data will be improved. Stora Enso will 
finance the programme with EUR 1.1 million by the end of 2030. The 
environmental incident is being investigated as a serious nature 
conservation crime.
In 2025, the Group’s Forest management and Conservation forestry -
related EU taxonomy-eligible opex was EUR 29 (25) million and capex EUR 8 
(9) million. Description of taxonomy-eligible activities is provided in the 
section on EU Taxonomy.
Stora Enso has not used biodiversity offsets in its action plans.
Targets related to biodiversity and ecosystems (E4-4)
Biodiversity
Stora Enso is committed to an ambition of a net-positive impact on 
biodiversity in its own forests and plantations by 2050 through active 
biodiversity management. Biodiversity impact indicators measure how 
well biodiversity is preserved in harvesting, according to science-based 
research, external recommendations, and internal standards and 
requirements. Stora Enso’s current target is to reach 90% performance for 
each indicator, meaning that at least 90% of surveyed sites meet the best 
practices for biodiversity as defined in the Group’s biodiversity 
requirements.
The target relates to identified impacts in relation to the Group’s own 
operations and upstream value chain, and is aligned with Stora Enso’s 
Wood and Fibre Sourcing, and Land Management Policy. When considering 
the mitigation hierarchy, the target can be allocated to all layers: 
avoidance, minimisation and restoration of impacts. The target was set 
before the Kunming-Montreal Global Biodiversity Framework and EU 
biodiversity strategy for 2030 were established, but is aligned with 
their targets.
Target Scope
Baseline year 
and value 2025 2024
90% performance for 
each biodiversity 
impact indicator Harvesting sites 
in Sweden, 
Finland, the 
Baltics
2022: 84%  91%  89% 100% performance for 
each biodiversity 
impact indicator 
by 2030
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In 2025, the overall weighted average showed a slight improvement, but 
some indicators remained below the target level, as shown in the table 
below. Going forward, the focus will continue on all indicators, but 
particular attention will be given to those not meeting the target.
 Accounting principles
Biodiversity indicators measure the compliance ratios of inspected 
harvesting sites against Stora Enso’s specific biodiversity indicators for 
Sweden, Finland, and the Baltics. The consolidated ratios across the three 
regions are weighted averages using the harvested volumes in each 
region as a weight.
Ecological thresholds and allocations were not considered when setting 
the target. Whilst the target is set in line with scientific research, it is not 
based on conclusive scientific evidence. External stakeholders were not 
included in the target setting. Biodiversity offsets were not used in the 
target setting.
Compliance rate of biodiversity impact indicators, % 2025 2024
High stumps creation  92%  82% 
Ground deadwoods preservation  87%  83% 
Soil and water protection  88%  94% 
Prioritised habitat preservation  93%  96% 
Tree retention  89%  85% 
Buffer zone preservation  94%  93% 
Total  91%  89% 
Forest certification
Biodiversity is an integral part of forest certifications, including protection 
of valuable ecosystems. To promote sustainable forest management 
practices and related positive impacts, Stora Enso has set a continuous 
target related to forest certification coverage level for the Group’s own 
and leased forest lands. The target relates to identified impacts in relation 
to its own and upstream value chain, and is aligned with Stora Enso’s 
Wood and Fibre Sourcing, and Land Management Policy.
Target Scope
Baseline year 
and value 2025 2024
Continuous target to 
maintain a forest 
certification coverage 
level of at least 96%
Own and leased 
forest lands 2013: 93%  99%  99% 
In 2025, the coverage remained above the target level.
 Accounting principles
The geographical scope of the target includes Stora Enso’s owned lands in 
Sweden, owned and leased lands in China, and owned and leased lands of 
its joint operations in Uruguay and Brazil. The forest certification scheme 
coverage is calculated based on the proportion of land owned or leased 
by Stora Enso that is covered by forest certification schemes. Reporting on 
total land area and its forest certification coverage is aligned with 
financial reporting on forests assets.
When considering mitigation hierarchy, the target can be allocated to 
minimisation and restoration of impacts. Ecological thresholds and 
allocations were not considered when setting the target, and it is not 
based on conclusive scientific evidence. The basis for reporting (forest 
certificates: FSC and PEFC) is verified by accredited certification bodies, but 
the consolidated metric is not validated by an external body other than 
the assurance provider. External stakeholders were not included in the 
target setting. Biodiversity offsets were not used in the target setting.
Sustainable forestry
Stora Enso has a target on zero environmental non-compliances, as 
described in ESRS E2-3. Stora Enso defines a significant non-compliance 
related to forestry operations as a legal environmental non-compliance or 
permit violation, or a breach that has irreversible environmental or 
social impact.
Biodiversity or forestry related significant non-compliance events
Target Scope
Baseline year 
and value 2025 2024
Continuous target of 
zero significant 
environmental non-
compliance events
Own operations 2017: 10 8 24
Of which related to 
sustainable forestry 
or biodiversity
1 12
The number of significant non-compliance cases related to sustainable 
forestry and biodiversity decreased significantly from the previous year, 
mainly due to a strong focus on incident prevention through enhanced 
training, revised work practices, and improved control mechanisms (see 
action 4 in E4-3).
Ecological thresholds and allocations were not considered when setting 
the target, and it is not based on conclusive scientific evidence. External 
stakeholders were not included in the target setting. Biodiversity offsets 
were not used in the target setting.
Location Description of the event Corrective and preventive measures
Forest Finland A flying squirrel’s nesting place 
was impacted at one thinning 
location due to insufficient 
information about the species’ 
habitat.
Harvesting was immediately suspended 
upon sighting, and the incident was 
reported to the authorities, who notified 
the police. The police have not yet 
investigated the case. Staff and vendor 
training was conducted to improve their 
ability to recognise flying squirrel habitats. 
Stora Enso’s procedures were updated to 
ensure prompt action on sightings of 
flying squirrels, including neighbouring 
properties near harvesting sites.
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Impact metrics related to biodiversity
and ecosystems change (E4-5)
Stora Enso has selected three types of indicators to measure biodiversity 
based on their value for forest biodiversity according to science:
• Biodiversity impact indicators monitor harvesting operations in the 
Northern forests as reported in ESRS E4-4.
• Long-term biodiversity indicators follow developments in response to 
the biodiversity action programme in the Group’s own forest in Sweden.
• Biodiversity indicators for tree plantations monitor developments in 
South American plantations, where biodiversity is protected and 
restored in dedicated set-aside areas. These metrics are not disclosed 
as part of Stora Enso’s Sustainability Statement due to the lack of direct 
operational control. Stora Enso exercises its ownership share to 
negotiate on the required actions to advance positive impacts.
All these indicators have been used internally for years, but recently Stora 
Enso has started to report them externally on its website to enhance 
transparency.
D e s c r i p t i o n s  a n d  i m p a c t e d  h e c t a r e s  o f  b i o d i v e r s i t y - s e n s i t i v e  a r e a s  
a f f e c t e d  b y  S t o r a  E n s o  s i t e s  a r e  d i s c l o s e d  i n  E S R S  E 4 - 4.
Key forest-related figures
 Accounting principles
As wood is Stora Enso’s most important raw material, information on 
company-owned forest resources (type, standing stock, growth, 
harvesting, and certification) is essential for contextualising the 
biodiversity impacts of the operations. Aligned with the Financial 
Statements, the figures include the wood procurement of the joint 
operations according to the ownership share (50%).
Wood procurement includes total amounts of wood (roundwood and 
chips) procured for delivery to Stora Enso’s units (million m3, solid under 
bark). The reporting on third-party certified wood as a percentage of total 
supply is based on actual deliveries to the mills. Internal deliveries between 
the mills have been eliminated. 
Metrics related to forest 2025 2024
Total amount of wood delivered to Stora Enso's sites, 
million m3 30.6 29.0
% of third-party certified wood of total wood supply  84%  85% 
% of wood from own sources or long-term supply 
agreements  35%  36% 
% of wood from managed semi-natural forests in 
Europe  85%  83% 
% of wood from tree plantations  15%  17% 
The estimated annual forest growth and total standing stock are counted 
for productive forest areas. Million m3 fo refers to million forest cubic 
meters. The annual forest growth figures are based on estimates, whereas 
the annual harvesting is based on actual data. Total standing stock and 
the related accounting principles are disclosed in the Financial 
Statements, note 4.2 Forest assets, section ‘Valuation and standing stock of 
forest assets’.
Annual forest growth and harvesting and total 
standing stock, million m3 fo 2025 2024
Estimated annual forest growth 13.9 13.9
Stora Enso's own forests, Sweden 6.0 5.9
Guangxi 1.1 1.2
Veracel (50%) 2.2 2.3
Montes del Plata (50%) 3.0 2.9
Tornator (41%) 1.6 1.5
SESOM 2 AB (15%)1 0.0 n/a
Annual harvesting 11.6 10.5
Stora Enso's own forests, Sweden 3.9 4.1
Guangxi 1.5 1.1
Veracel (50%) 2.1 1.6
Montes del Plata (50%) 2.7 2.4
Tornator (41%) 1.4 1.4
SESOM 2 AB (15%)1 0.0 n/a
Total standing stock 198.4 214.6
Stora Enso's own forests, Sweden 133.3 153.7
Guangxi 3.6 4.2
Veracel (50%) 7.0 6.8
Montes del Plata (50%) 16.2 16.0
Tornator (41%) 35.1 33.8
SESOM 2 AB (15%)1 3.2 n/a
1 SESOM 2 AB is a 15% owned Swedish associate company.
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Forests, plantations and lands as of 31 December 2025
 Accounting principles
To provide information on the extent of ecosystems, Stora Enso reports on 
entity-specific metrics on the hectares of the material forest lands. Figures 
for land areas, and their forest certification coverage, include Stora Enso’s 
own and leased forest assets. The figures measure area coverage, rather 
than condition of ecosystems. For additional information, see Financial 
Statements, note 4.2 Forest assets. 
Aligned with the Financial Statements, the joint operations and the equity-
accounted investment in Tornator, Finland, are consolidated based on 
Stora Enso’s ownership stakes in these companies.
Unit Area1 Certification coverage
Details of local landscapes 
and protected areas
Owned lands
Swedish forest holdings 1,199,000 ha, of which 1,003,000 
productive forest land
PEFC and FSC for 1,199,000 ha Protected areas total to 324,000 ha and consist of productive or non-productive 
land which has been set-aside from wood production and infrastructure 
development either voluntarily or by legal requirements.
Montes del Plata plantations and 
lands, Uruguay (50% owned joint 
operation with Arauco)
223,000 ha, of which 130,000 ha 
planted for pulp production
PEFC and FSC for 222,000 ha Protected areas total to 90,000 ha and consist of remnants of native 
ecosystems, such as grasslands and riparian forests, within the company’s 
lands. Local landscape consists mainly of pasturelands and agricultural fields.
Veracel plantations and lands, 
Bahia, Brazil (50% owned joint 
operation with Suzano)
206,000 ha, of which 78,000 ha 
planted for pulp production
CERFLOR (PEFC) for 187,000 ha; FSC 
for 187,000 ha
Protected areas total to 98,000 ha, including a 6,000 ha Private Natural Heritage 
Reserve, and mostly consist of native forest remnants at different stages of 
regeneration. Local landscape consists of pasturelands and agricultural fields 
cleared from Atlantic rainforest between the 1950s and 1980s.
Tornator (41%-owned associated company)
Finland 735,000 ha, of which 656,000 
productive forest land
PEFC and FSC for 735,000 ha Protected areas total to 75,000 ha and consist of productive and non-
productive land which has been set-aside from harvesting either voluntarily or 
by legal requirements.
Estonia 65,000 ha, of which 59,000 
productive forest land
PEFC and FSC for 65,000 ha Protected areas total to 2,400 ha.
Romania 12,000 ha, of which 12,000 
productive forest land
PEFC and FSC for 12,000 ha Protected areas total to 160 ha.
SESOM 2 AB (15%-owned associated company)
Sweden 171,000 ha of which 148,000 ha 
productive forest land
PEFC and FSC for 171,000 ha Protected areas total to 54,000 ha and consist of productive or non-productive 
land, which has been set-aside from wood production and infrastructure 
development either voluntarily or by legal requirements.
Leased lands
Plantations and lands, Guangxi, 
China
54,000 ha, of which 48,000 ha 
planted
Chinese Forest Certification 
Council certificate (PEFC) for 
54,000 ha; FSC for 54,000 ha
Protected areas total to 7,200 ha and consist of buffer zones and other 
important areas for protection of watersheds and native flora and fauna. No 
pristine ecosystems are found in the leased lands. Local mosaic landscape 
includes agricultural crop fields, forest plantations, and settlements.
Montes del Plata 84,000 ha, of which 72,000 ha 
planted
PEFC and FSC for 82,000 ha Protected areas total 11,000 ha and consist of remnants of native ecosystems, 
such as grasslands and riparian forests. Local landscape consists mainly of 
pasturelands and agricultural fields. In most of the leased areas, protected 
areas are excluded from lease agreements.
Veracel 29,000 ha, of which 12,000 ha 
planted
CERFLOR (PEFC) for 15,000 ha; FSC 
for 15,000 ha
Protected areas total to 13,000 ha and consist of native forest remnants at 
different stages of regeneration.
1 Reported as total areas of the companies. Stora Enso’s share corresponds to the ownership share. Includes operations where the size of the area exceeds 1,000 hectares.
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ESRS E5 Resource use and circular economy
Policies related to resource use
and circular economy (E5-1)
The minimum requirement is that all policies and guidelines are to be 
reviewed at least once every two years. Each policy owner shall ensure 
that the documents under their responsibility are reviewed and updated 
within the defined time frame.
Circularity Guidelines
The Circularity Guidelines outline the Group’s commitment to contributing 
to a circular economy and addressing the opportunities and positive 
impacts outlined in the table ‘Material impacts, risks and opportunities’. 
The core principles of the guidelines encompass design for renewable and 
recycled materials, reducing the use of virgin material, a commitment to 
using fewer resources to produce a product, and designing out waste.  
The  design for circular business models encompasses circular sourcing, 
which involves procuring products and services that align with circular 
economy principles. The guidelines cover the Group’s full materials value 
chain and all geographies. The accountability for ensuring their 
implementation lies with the EVP, Strategy and Sustainability.
Environmental Guidelines
The Environmental Guidelines describe the approach to environmental 
management (see ESRS E1-2). Related to circularity and resource use, the 
guidelines outline the commitment to use renewable wood-based 
resources – both virgin and recycled fiber – to promote circularity. This 
entails using of raw materials efficiently, reducing process residuals, 
reusing fiber, creating business opportunities from process residuals and 
by-products, and reducing waste to landfills to close to zero. Additionally, 
the guidelines emphasise seeking partnerships with stakeholders and 
customers to introduce new renewable products to the market. Stora Enso 
is committed to responsible sourcing to protect ecosystems, preserve 
biodiversity, and safeguard soil and water resources. The Group supports 
sustainable forest management and requires its external pulp suppliers to 
adhere to similar principles in wood and fiber procurement.
The guidelines address the management of all the material impacts, risks, 
and opportunities listed in the table ‘Material impacts, risks and 
opportunities’.
Actions and resources related to
resource use and circular economy (E5-2)
The actions described below support the objectives of both 
the Environmental Guidelines and Circularity Guidelines.
Resource efficiency and side streams
Stora Enso actively improves resource efficiency by investing in resource 
efficient processes and technologies, minimising waste, and converting 
production side streams into new products. Key actions from the reporting 
year include:
1) In 2025, Stora Enso began ramping up its new consumer packaging 
board production line in Oulu, Finland. The line utilises patented fibre 
processing technology that enhances material efficiency by enabling the 
production of stronger, lighter board while reducing raw material usage.
2)  Stora Enso continuously aims to ensure that the value of materials is 
preserved by recycling of materials. For example, secondary raw material, 
Paper for Recycling, can be used to produce a range of paper and 
containerboard products. In Poland, the Group owns and manages a 
network of twelve depots, where Paper for Recycling is collected and baled 
for transportation to the Group‘s Ostrołeka site in Poland and to external 
PfR customers.
3) Stora Enso seeks efficient methods to improve material efficiency, 
recover material streams, and increase the value derived from wood and 
side streams, aligned with the process residual utilisation target (ESRS E5-3). 
Examples of co-operations from the reporting year include:
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Material impacts, risks and opportunities (ESRS 2 SBM-3)
Description
Impact, risk, 
or opportunity Time horizon
Location in 
the value chain
Related sub-topic or 
sub-sub-topic
Contribution to circular economy through renewable and recyclable products and 
solutions that replace fossil-based alternatives.
Actual positive impact Short, medium, and 
long term
Own operations, 
upstream and 
downstream value 
chain
Resource outflows 
related to products 
and services
Industrial operations require significant volumes of raw materials. While most of the 
total process material usage is based on renewable resources, sourcing these raw 
materials has an impact on the environment, for example, biodiversity (see ESRS E4).
Actual negative 
impact
Short, medium, and 
long term
Own operations, joint 
operations, upstream 
value chain 
Resources inflows, 
including resource use
Resource outflows from Stora Enso’s operations primarily stem from its products. While 
most of these products are technically recyclable, the actual product recycling 
d e p e n d s  o n  l o c a l  r e c y c l i n g  s y s t e m s  a n d  b r o a d e r  s y s t e m - l e v e l  c h a n g e s  i n  s o c i e t a l  
infrastructure.
Actual negative 
impact
Short, medium, and 
long term
Downstream value 
chain
Resource outflows 
related to products 
and services
While most of the residuals from industrial operations are utilised in other production 
processes, waste is still generated and, where no other option exists, landfilled.
Actual negative 
impact
Short, medium and 
long term
Own operations, joint 
operations
Waste
Dependency on upstream value chain for raw materials. Supply chain disruptions, 
increasing raw material costs or availability of materials, goods and services may 
adversely affect Stora Enso’s profitability.
Risk Medium and long term Own operations, joint 
operations, upstream 
value chain 
Resources inflows, 
including resource use
Stora Enso’s strategy is aligned with circular economy principles, focusing on 
generating revenue through renewable products. The Group’s wood-based products 
serve as carbon storage and can be recycled or converted into energy at the end of 
their lifecycle. Furthermore, Stora Enso actively supports recycling through strategic 
partnerships and investments in recycling infrastructure. The Group also sees 
opportunities in transforming process residuals into new products.
Opportunity Short, medium, and 
long term
Own operations, 
upstream and 
downstream value 
chain
Waste; Resource 
outflows
Regulatory changes and growing consumer demand for sustainable products 
present significant opportunities, creating competitive advantage by incentivising 
resource efficiency, recyclability, and renewability and driving market growth for 
renewable products.
Opportunity Short, medium, and 
long term
Own operations, 
upstream and 
downstream value 
chain
Waste; Resource 
outflows

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