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Unaudited

This is an unaudited summary of sustainability topics material to Stora Enso’s long-term success. The contents are derived from related sections of Stora Enso’s Sustainability Report 2016. The full report can be downloaded from storaenso.com/sustainabilityreport

The full report can be downloaded from storaenso.com/sustainabilityreport

Sustainability strategy and governance

In 2016 Stora Enso introduced a new framework for the company’s sustainability work, to build on all the work done over many years in this field. The new framework is based on the classic Triple Bottom Line model widely used in corporate responsibility work.

Stora Enso’s Sustainability Agenda encompasses the social, environmental, and economic responsibility of Stora Enso’s operations throughout the value chain. The agenda addresses ten sustainability topics identified as material to Stora Enso: Employees and wider workforce; Community; Business ethics; Materials, water, and energy; Carbon dioxide; Forests, plantations, and land use; Customers; Suppliers; and Investors. Human rights are considered to be so integral to Stora Enso’s long-term success that these topics are progressed as an overarching theme.

In line with Stora Enso’s Sustainability Agenda the group has set ambitious targets and selected key performance indicators (KPIs) for its work. Progress is monitored in group-level and division-level business reviews.

Consolidated results on all material sustainability indicators are reported annually in the Sustainability Report. Selected sustainability indicators are also reported quarterly in Interim Reports.

Stora Enso acknowledges the United Nations’ Sustainable Development Goals as part of a global ambition to end poverty, protect the planet, and ensure prosperity for all. Stora Enso is in the process of assessing how best to reflect these long-term goals in its Sustainability Agenda.

Sustainability embedded in strategy

Stora Enso’s sustainability strategy is incorporated into the wider company business strategy.

Stora Enso’s Sustainability Policy describes the group’s overall approach and governance model. At the same time, Stora Enso’s Code of Conduct and other policies, guidelines, and statements on specific topics all further elaborate the group’s approach, while also guiding employees in their everyday work. These documents are available at storaenso.com/sustainability. In order to ensure alignment with the group’s Sustainability Agenda, Stora Enso conducted a comprehensive review of the company’s existing sustainability policies, guidelines, and statements in 2016. This alignment will continue in 2017.

Sustainability governance

Sustainability is a key element of Stora Enso’s corporate governance, promoted by the Board of Directors, the CEO and the Group Leadership Team (GLT). The CEO carries the ultimate responsibility for the successful implementation of the sustainability strategy.

The Board of Directors’ Sustainability and Ethics Committee oversees the implementation of Stora Enso’s Sustainability Strategy and Ethics and Compliance Strategy. The committee met four times in 2016. It has reviewed the disclosures in Stora Enso’s Sustainability Report 2016. The main focus areas of the committee in 2016 are described in Stora Enso’s Corporate Governance Report.

Work on sustainability issues is led by the Executive Vice President, Sustainability, who reports directly to the CEO. Everyday sustainability topics are managed by the group Sustainability function together with the Legal, Human Resources, Sourcing and Logistics, and Wood Supply functions, and the divisions (Consumer Board, Packaging Solutions, Biomaterials, Wood Products, and Paper). Each of the business divisions has its own Head of Sustainability, who reports directly to the Executive Vice President of the division.

Other key units, such as Wood Supply, and Sourcing and Logistics, each have sustainability organisations to support their management teams. The everyday implementation of Stora Enso’s Sustainability Agenda is the responsibility of line management supported by functional experts at all levels.

Stora Enso’s sustainability work is steered by its Sustainability Council, whose members come from the five divisions, the Sourcing and Logistics function, and the group Sustainability team. Chaired by the Executive Vice President, Sustainability, the council met nine times in 2016. Their work involves sharing good practices and identifying longer-term opportunities and challenges that may require a group-wide response. The Group Leadership Team is periodically informed of developments, as is the Board of Directors, when appropriate, via its Sustainability and Ethics Committee.

Sustainability governance of joint ventures

Stora Enso’s joint operations in Brazil (Veracel) and Uruguay (Montes del Plata) and the group’s equity-accounted minority investment in Pakistan (Bulleh Shah Packaging) have their own sustainability teams, and sustainability topics are regularly discussed by their boards, which include representatives from their parent companies. Sustainability topics are also regularly discussed by Stora Enso’s joint venture steering committees for Veracel and Montes del Plata. Stora Enso has a corresponding representation in the boards of the forestry companies Tornator and Bergvik Skog in Finland and Sweden, and one of the aims of the group’s internal joint venture guidelines is to follow up on sustainability in the companies where Stora Enso acts as owners. The Board of Directors of Stora Enso’s equity-accounted minority investment in Pakistan, Bulleh Shah Packaging, has a Sustainability Committee formed by representatives of top management and parent companies.

External assurance

Stora Enso’s Sustainability Report 2016 contents have been assured by an independent third-party assurance provider with a level of Limited Assurance. For the second year running a level of Reasonable Assurance has been provided for Stora Enso’s direct and indirect fossil CO2 emissions (scopes 1 and 2). Stora Enso is one of the few companies in the world that assures its CO2 reporting for stakeholders at Reasonable Level. The company is developing a roadmap to help further improve the external assurance of its sustainability reporting.

About this summary

This summary is structured to reflect Stora Enso’s Sustainability Agenda, with the agenda’s ten elements addressed through a common four-level framework:

Opportunities and challenges: These sections examine the external factors and global trends currently affecting the topics included in Stora Enso’s Sustainability Agenda. Please note that the group’s corporate risk management assessment appears in the Report of the Board of Directors and in the parallel Progress Book.

Our policies: These sections set out the relevant strategies and policies the group uses to address key opportunities and challenges.

How we work: These sections describe the processes, procedures, and systems Stora Enso deploys to realise its strategies and policies.

Progress: These sections report on the group’s progress on related topics during 2016.

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