STORA ENSO OYJ INVESTOR NEWS 12 December 2023 at 17:00 EET

HELSINKI, Dec. 12, 2023 /PRNewswire/ -- Stora Enso commits to reach net-zero carbon emissions by 2040 by becoming a signatory of The Climate Pledge.

Committing to net-zero emissions by signing The Climate Pledge is a logical step for Stora Enso in its long-term ambition to become net carbon positive, and to offer 100% regenerative products and solutions by 2050. Stora Enso remains committed to deliver on its existing 2030 target to reduce absolute Scope 1, 2 and 3 emissions by 50% from the 2019 baseline. This target is aligned with the 1.5-degree scenario and is approved by the Science Based Targets initiative.

Stora Enso will continue its decarbonisation journey to improve energy efficiency and to switch from fossil-based energy sources to renewable ones. Stora Enso will further improve its Scope 3 performance by enhancing efficiency and lowering carbon intensity in the value chain, collaborating with its raw material suppliers, logistics suppliers, and customers.

Signatories of The Climate Pledge agree to:

Measure and report greenhouse gas emissions on a regular basis.
Implement decarbonisation strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.
Neutralise any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040.

For more information on The Climate Pledge, please go to www.theclimatepledge.com

For further information, please contact:

Carl Norell
SVP Corporate Communications
tel. +46 72 241 0349

Investor enquiries:

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

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has approximately 21,000 employees and our sales in 2022 were EUR 11.7 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

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