Stora Enso announces another move in its efforts to increase sustainability and improve its environmental footprint. [Credits: lovelyday12]

Today (5 May) Finland-based renewable materials company Stora Enso announced that it has launched a combined green and sustainability-linked financing framework to ensure greater sustainability with its funding.

Stora Enso says that the framework is based on its sustainability and goals that are driving the transformation towards a circular bio-economy. The paper and biomaterials specialists state that the combined green and sustainability-linked financing framework allows Stora Enso to issue both green and sustainability-linked financing instruments, as well as a combination of the two.

Stora Enso senior vice-president Group treasury Kaarlo Höysniemi said: “We are very pleased to further reinforce the connection between our sustainability agenda and financing strategy, demonstrating our strong commitment to creating value in the bioeconomy. With this framework, we transparently disclose the progress we are making to maximise our positive impact on the society, thus enabling investors to support our renewable materials journey.”

Stora Enso says it aims to offer 100% regenerative solutions by 2050, meaning the Finnish company will provide renewable, circular economy-compatible products and solutions that will help to reduce the environmental impact and support biodiversity.

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The news is just the latest in sustainable developments from Stora Enso to encourage a bioeconomy. Last month Packaging Gateway reported on the news that Stora Enso had collaborated with polyester and phenolic resin development company Kolon Industries to develop a new sustainable polyester.

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Kolon Group CTO Sung Han said at the time: “This partnership is significant in that it enables the solidification of the foundation for building a new bioplastics ecosystem. We will continue to accelerate the development of sustainable polymer technologies for a greener environment.”