Metsä Board Oyj

Metsä Board Oyj, headquartered in Finland and operating in the Paper and paper products industry, is committed to climate action with Science Based Targets initiative (SBTi) approved goals.

In 2024, Metsä Board Oyj reported total emissions of approximately 2.066 billion kg CO2e. This included Scope 1 emissions of approximately 192.1 million kg CO2e, Scope 2 emissions of approximately 259.5 million kg CO2e (location-based), and Scope 3 emissions of approximately 1.789 billion kg CO2e.

Looking back, their emissions were:

• 2023: Scope 1 emissions were approximately 202.2 million kg CO2e, Scope 2 market-based emissions were approximately 183.6 million kg CO2e, and Scope 3 emissions were approximately 1.792 billion kg CO2e.
• 2022: Scope 1 emissions were approximately 265.0 million kg CO2e, Scope 2 market-based emissions were approximately 155.3 million kg CO2e, and Scope 3 emissions were approximately 2.275 billion kg CO2e.
• 2021: Scope 1 emissions were approximately 255.5 million kg CO2e, Scope 2 market-based emissions were approximately 184.0 million kg CO2e, and Scope 3 emissions were approximately 1.855 billion kg CO2e.
• 2020: Scope 1 emissions were approximately 240.0 million kg CO2e, Scope 2 market-based emissions were approximately 282.2 million kg CO2e, and Scope 3 emissions were approximately 1.848 billion kg CO2e.
• 2019: Scope 1 emissions were approximately 250.3 million kg CO2e, Scope 2 market-based emissions were approximately 262.4 million kg CO2e, and Scope 3 emissions were approximately 1.027 billion kg CO2e.
• 2018: Scope 1 emissions were approximately 310.2 million kg CO2e, Scope 2 market-based emissions were approximately 577.9 million kg CO2e, and Scope 3 emissions were approximately 1.058 billion kg CO2e.

Metsä Board Oyj has set ambitious reduction targets:

• Net-Zero by 2030 (Scope 1 & 2): They aim to achieve 100% reduction in Scope 1 and market-based Scope 2 emissions by the end of 2030, from a 2018 baseline. This includes abandoning fossil-based energy sources in all mills to achieve zero fossil-based Scope 1 and Scope 2 emissions. This target is confirmed by the SBTi, which states a 100% reduction in absolute Scope 1 and 2 GHG emissions by 2030 from a 2016 base year.
• Scope 3 Transportation Emissions Reduction: Metsä Board Oyj is committed to reducing greenhouse gas emissions from its purchased transport (upstream transportation and distribution, a Scope 3 category) by 30% per tonne-kilometre by 2030, relative to a 2022 baseline.
• Scope 3 End-of-Life Treatment: The company commits to reducing absolute Scope 3 GHG emissions from end-of-life treatment of sold products by 25% by 2030, from a 2024 base year.
• Supplier Engagement: Metsä Board Oyj further commits that 47% of its suppliers by spend, covering purchased goods and services, capital goods, and upstream transportation and distribution, will have science-based targets by 2030. Previously, an SBTi target committed that 70% of non-fibre suppliers and downstream transportation suppliers by spend would set science-based targets by 2024.

Metsä Board Oyj's near-term targets are classified by the SBTi as consistent with reductions required to keep warming to 1.5°C.