“It is an interesting framework, which is one of the first to include targets for biodiversity. In addition, it contains targets for circularity and climate change,” says Fredrik von Platen, Sustainable Finance Specialist in SEB’s Debt Capital Markets unit.
Stora Enso has set ambitious goals to offer 100 per cent regenerative solutions by 2050. The company is determined to achieve a net positive impact on biodiversity in its own forests and plantations through active management of biodiversity and has also set a science-based goal of until 2030 halve their greenhouse gas emissions in their own production and value chain compared to the base year 2019.
“Climate change and biodiversity loss go hand in hand, and we cannot solve one without addressing the other. That is why it is extremely inspiring to be a part of this pioneering effort of using sustainable finance to address the challenge of declining biodiversity in the world,” says Lina Apsheva, analyst in SEB’s Climate & Sustainable Finance unit.
The green part of the framework is eligible for funding of green projects in six areas including sustainable forest management, sustainable product processes, energy efficiency, renewable energy and waste to energy, sustainable water management, and waste management and pollution control all designed to promote the transition towards a low-carbon and environmentally sustainable society in accordance with Stora Enso’s sustainability agenda.
The sustainability-linked part of the framework will be used for financing where the interest rate is linked to key performance indicators for Stora Enso's performance in terms of climate change, biodiversity, and circularity.