Business ethics

A value-driven culture promoting honesty, transparency and ethical behaviour is key to Stora Enso’s long-term success.

Compliance with laws and regulations is what gives a company its licence to operate and helps it to navigate a changing business environment. Stora Enso operates globally, including in high-risk markets that offer business opportunities but may entail exposure to serious compliance risks. Measures are taken to help combat corruption, follow international trade sanctions, ensure sound business practices, and preserve competitive markets.

Our work is guided by its values ‘Lead’ and ‘Do what’s right’, and by empowering all employees to speak up against misconduct or unethical behaviour. We aim to establish a value-driven culture where people are guided by a common moral compass when faced with difficult decisions, act with integrity and speak up against misconduct or unethical behaviour. Our ethics culture is further reinforced by our active voluntary Ethics Ambassador Network. It is a community, open for all employees, that promotes active ethical dialogue in the company and trains the ambassadors to promote our values and ethical business.

Our target is to maintain a positive trend in the Ethics and Compliance Index, measured as part of our annual employee engagement survey. In 2024, the Ethics and Compliance Index was 8.8 (scale 0-10).

Stora Enso Code and focus on four key areas

The Stora Enso Code, the Group’s code of conduct, outlines the approach to ethical business practices, human and labour rights, anti-corruption, and the environment. The Code is a single set of values for all employees, applied wherever Stora Enso operates. All new Stora Enso employees are required to complete the Code training. Our Ethics and Compliance Strategy supports the Stora Enso's strategy, focusing on innovation, growth, and value creation in the bioeconomy. Key areas for our culture of integrity are:

1. Value-based leadership
2. Risk assessment and compliance
3. Ethical dialogue
4. Speak Up – Listen Up

Prevention of corruption and bribery

The Stora Enso Code and Business Practice Policy require zero-tolerance towards any form of corruption. To help prevent incidents of corruption or bribery, sales and sourcing teams are offered tailored training on competition law and anti-corruption, including training on trade associations, joint purchasing agreements, gifts and hospitality, and the onboarding of critical business partners.

In addition to the trainings provided for at-risk functions, all employees must complete the Stora Enso Code training. The Code training is designed to build understanding of business conduct, including the detection of corruption and bribery. Anti-corruption, bribery and the competition law are also topics discussed regularly in the Ethics Ambassador Network.

Stora Enso as a taxpayer

Stora Enso aims to be transparent with respect to economic value generation. For this purpose, Stora Enso makes a voluntary commitment to provide information on the Group’s tax approach and details of the corporate income taxes paid by the Group. As a responsible taxpayer, Stora Enso is committed to observing the letter and the spirit of applicable tax laws, rules and regulations, including international transfer pricing guidelines and local legislation in all jurisdictions where it conducts business activities or has otherwise any tax obligation. In addition to legal and regulatory requirements, the tax principles comply with our values to ‘Lead’ and ‘Do what’s right’.

Read more about Stora Enso as a taxpayer and our approach to tax in ourannual reportandour tax policy. In the annual report, we also disclosecountry-by-country information.

Speak up culture

Our employees are encouraged to report any suspected cases of misconduct or unethical behaviour. Reporting is done via any of Stora Enso’s grievance channels, by personal contact, e-mail, letter, phone or anonymously via the ‘Speak Up’ Hotline. All cases are investigated and followed up on.