Sustainability (Cont’d from Page 1)
port the strong, continuous demand for sustainable packaging. This is one of the key strategic focus ar- eas in which the Group is building its market share with both existing and new customers. Stora Enso already holds a leading global market position in this segment. The potential investment in Oulu would target high-quality and low carbon-footprint packaging segments for frozen and chilled food and beverages, as well as for non-food applications such as pharma and cosmetics. The feasibility study will also assess how the conversion could contrib- ute to Stora Enso’s science-based targets regarding operational CO2 emissions. Based on full ramp-up, the potential top line sales impact of the conversion would gradually reach an annual level of EUR 800 million. Capital expen- diture is estimated to be EUR 900–1,000 million during 2023–2026. The investment would include the conversion of the former paper machine and the sheeting facility. It would also include invest- ments in wood handling, the bleached chemi-ther- momechanical pulp (BCTMP) plant, the biomass boiler and the effluent treatment plant. The increase in pulp wood consumption in Oulu would be approximately one million cubic meters, utilizing the volumes freed up after closure of the Veitsiluoto site. With the investment, an estimat-
Climate Pledge, which commits the company to achieve net-zero annual carbon emissions by 2040 — a decade ahead of the Paris Agreement’s goal of 2050. As part of UPM, UPM Raflatac aims to reduce or replace virgin fossil sources of carbon that add burden to the carbon cycle by applying the princi- ples of reduce, recycle, renew, and reuse through re- sponsible sourcing, sustainable operations and logis- tics all the way to innovative products and services. UPM Raflatac has taken steps to make its produc- tion more sustainable. Six of its ten factories are fully powered with renewable electricity, and the company has reduced its factory greenhouse gas emissions by 47 percent since 2015. A high share of UPM Raflatac’s products use certified materials from forests that are managed as carbon sinks – and this number will keep rising in the future. Is It Feasible? In other news, Stora Enso is starting a feasibility study for the possible conversion of an idle paper machine at its Oulu site in Finland for a high-volume consumer board line. On a successful completion of the feasibility study, an investment decision could be made by the end of 2022 with start-up in 2025. Stora Enso’s strategy is to invest in growth to sup-
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Flexo Market News February 28, 2022 3
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