Stora Enso: Numerous Measures Launched Following the Environmental Violation in Finland

An environmental violation was discovered at a Stora Enso harvesting site on Thursday 15 August, in Kainuu, Finland. The violation is being investigated as a serious nature conservation crime. Hans Sohlström, President and CEO of Stora Enso, says the Company took immediate action as soon as it became aware of the violation: “It is important that the negligence at Hukkajoki river in Kainuu came to light. Even the best rule and the most important principle is worthless if it is not applied in practice. We have already initiated a number of changes to ensure that nothing like this can happen again,” says Hans Sohlström.

Stora Enso has suspended harvesting in all areas throughout Finland where there are restrictions under the Water Act, the Forest Act or the Nature Conservation Act. Harvesting has been suspended until the operational guidelines, harvesting plans and risks related to these sites have been reassessed. Any non-compliance that may be detected will be assessed in cooperation with the authorities.

“Stora Enso’s credibility has taken a serious blow. We have established a reputation as a leader in sustainability, and now our credibility is being severely tested. For Stora Enso, being a responsible and reliable operator is of paramount importance. I will do everything in my power to restore trust in Stora Enso.”

Stora Enso has, in addition to the existing comprehensive training it already provides, also started additional training on environmental policies and guidelines for its employees, contractors and subcontractors. All members of the Company’s wood supply value chain will participate in the training. The training sessions, which were started immediately, focus on compliance with the environmental guidelines.

“Respecting nature and preserving its biodiversity are our lifeblood and that of the forest industry as a whole. Rules and guidelines must be known and followed throughout our value chains, both by our own and our partners’ employees,” says Sohlström.

The measures already decided on include a comprehensive audit of all wood procurement planning, implementation and control processes, and will be conducted both by Stora Enso and a third party. This measure is aimed at ensuring the smooth running of the processes, compliance with rules and regulations, and with Stora Enso’s values.

In addition to the investigation by the authorities, Stora Enso has launched its own internal investigation into the events at Hukkajoki. At present, restoration work is underway in Hukkajoki under the leadership of Metsähallitus* to preserve the freshwater pearl mussels and their habitat, ensuring they thrive into the future. In addition to Metsähallitus professionals and researchers, dozens of Stora Enso employees are also involved in the restoration work. “Stora Enso bears its responsibility both financially and environmentally. It is clear that we will pay the costs of the ongoing restoration. We want to thank Metsähallitus and the researchers for the work that has been done on the river so far,” says Hans Sohlström, President and CEO of Stora Enso.

About Stora Enso

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

Contact:

Carl Norell – Media Contact – +46 72 241 0349

Source: Stora Enso Oyj