Stora Enso launches green, sustainability financing framework

By Marisa Wong

Los Angeles, May 5 – Stora Enso Oyj has launched a combined green and sustainability-linked financing framework to further integrate sustainability into its funding and financing activities, according to a press release.

The framework allows Stora Enso to issue both green and sustainability-linked financing instruments, as well as a combination of the two.

The green financing element of the framework covers six eligible asset categories: sustainable forest management, sustainable product processes, energy efficiency, renewable energy and waste to energy, sustainable water management and waste management and pollution control. The categories are designed to promote the transition towards a low-carbon and environmentally sustainable society in accordance with the company’s sustainability agenda.

The sustainability-linked financing element specifies key performance indicators for the company’s performance on climate change, biodiversity and circularity.

Skandinaviska Enskilda Banken acted as advisor on the framework. Stora Enso has engaged Sustainalytics as external reviewer to provide an independent second party opinion.

The company signed its first sustainability-linked revolving credit facility in 2017 and issued its first green bonds in 2019. In total, the company has issued 11 green bonds, bilateral loans or sustainability-linked facilities with a total nominal amount of roughly €3.1 billion.

Stora Enso is a manufacturer of pulp, paper and other forest products. The company is based in Helsinki, Finland.

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