A short version of the climate transition plan is included in the Sustainability Statement, which aligns with the European Sustainability Reporting Standards (ESRS) requirements. The Sustainability Statement is part of the Report of the Board of Directors section in the Annual Review. In preparation for the Corporate Sustainability Due Diligence Directive (CS3D), Metsä Board has also published an extended version of the transition plan on its website. Metsä Board’s transition plan is aligned with Metsä Group’s climate transition plan and both cover the time span until 2030.
Metsä Board’s Corporate Management Team approved the climate transition plan in 2024, and the plan was reported to the Board of Directors. The plan documents our climate commitments and emphasises what we can achieve through collaboration with our customers, suppliers and other partners.
“Metsä Board’s climate transition plan presents our strategic ambition and governance on climate matters, as well as our investments and climate actions related to production, products and the value chain,” says Mika Joukio, CEO of Metsä Board. “Our common strategic aim is to create growth with a future, and climate change mitigation and ensuring climate resilience of our strategies are among the key priorities.”
The climate transition plan will be adapted, monitored and updated annually. Metsä Board and Metsä Group have not yet set any official post-2030 emissions reduction targets, but planning for the Paris-aligned net-zero 2050 transition pathway is underway.
The key elements of Metsä Board’s climate transition plan are:
- Strategic ambition and building resilience
- Climate change mitigation and adaptation
- Metsa Board’s strategy
- Climate resilience
- Climate-related targets
- Greenhouse gas emissions baseline
- Climate-related targets
- Investments and measures
- Investments and financial planning
- Production and value chain
- Products and services
- R&D and innovation
- Wood procurement and forestry
- Governance, risk management and stakeholder engagement
- Building personnel capacities
- Governance of climate-related matters
- Risk management
- Stakeholder engagement
In climate-related matters, the Corporate Sustainability Reporting Directive (CSRD) mandates, for example:
- thorough assessment and reporting of climate risks, opportunities and risk management
- analysis of the company’s climate target regarding the Paris Agreement’s 1.5 degrees path
- a climate transition plan, including a climate resilience analysis of the business strategy
The Corporate Sustainability Due Diligence Directive (CS3D) will mandate big companies to have climate targets for 2030, 2035, 2040, 2045, and 2050, as well as a transition plan aligned with the Paris Agreement’s 1.5 degrees path. This means a net zero target, including the Scopes 1, 2 and 3, for 2050.
As part of Metsä Group, Metsä Board falls under the scope of the CS3D from July 2027.