Stora Enso pledges net-zero carbon emissions by 2040 as a signatory of The Climate Pledge
13 Dec 2023 --- Stora Enso has committed to achieving net-zero carbon emissions by 2040. This commitment comes as Stora Enso joins The Climate Pledge, an initiative co-founded by Amazon and Global Optimism to bring together companies to reach the goals of the Paris Agreement.
Stora Enso’s decision to become a signatory of The Climate Pledge aligns with its overarching objective of transitioning to a net carbon-positive status and providing 100% regenerative products and solutions by 2050.
The company has a 2030 target to reduce absolute Scope 1, 2 and 3 emissions by 50% from the 2019 baseline. This target, aligned with the 1.5 degrees Celsius scenario, has received approval from the Science Based Targets initiative.
As part of its commitment to The Climate Pledge, Stora Enso will embark on a decarbonization journey, concentrating efforts on improving energy efficiency and transitioning from fossil-based to renewable energy sources.
Moreover, the company is set to enhance its Scope 3 performance by focusing on efficiency improvements and lowering carbon intensity across the entire value chain. This collaborative approach involves engaging with raw material suppliers, logistics partners and customers to collectively reduce the carbon footprint.
Climate Pledge
Since its inception in 2019, The Climate Pledge has received 458 signatories from over 58 industries. The signatories, including Stora Enso, have pledged to uphold three areas of action — regular reporting, carbon elimination and credible offsets.
Stora Enso commits to implementing robust decarbonization strategies aligned with the Paris Agreement. This involves fundamental business changes and innovations, incorporating efficiency improvements, adopting renewable energy, reducing materials and implementing other innovative carbon emission elimination strategies.
Regular monitoring and reporting of GHG emissions will be a standard practice, ensuring transparency and accountability in pursuing emission reduction goals.
The company will neutralize any remaining emissions through additional, quantifiable, tangible, permanent and socially beneficial offsets.
Edited by Radhika Sikaria
