Metsä Board Annual and sustainability report 2022





Principles of sustainability reporting

Metsä Board Corporation and its subsidiaries comprise a forest industry group “Metsä Board” or “the Group”. Metsä Board’s business operations comprise folding boxboards, white kraftliners and market pulp.

assurance engagements, ISAE 3000 (Revised) and ISAE 3410. The assurance report is available on page 68. Assurance covers: • Data in the Non-financial key figures table (p. 79) • EU Taxonomy KPIs (pp. 83−85) • Data in the mill-specific information table (p. 60). • Data in the environmental permit limit violations table (p. 61) • Data in the SASB reporting table (pp. 62−63) Environmental reporting principles Only material flows (raw materials, energy, water, products and waste) to and from industrial sites are taken into account. For example, interim storage is not reported for waste. The Group’s greenhouse gas emissions are calculated in accordance with the GHG Protocol (GHG Protocol Corporate Accounting and Reporting Standard and Corporate Value Chain (Scope 3) Accounting and Reporting Standard). Reporting covers direct carbon dioxide emissions (Scope 1) from Metsä Board’s own operations, indirect carbon dioxide emissions (Scope 2) from the generation of purchased energy, and indirect greenhouse gas emissions from the rest of the value chain (Scope 3), including upstream and downstream emissions in the GHG Protocol Scope 3 emission categories identified as significant. For Scope 1 and 2 emissions, the climate impact consists of CO 2 emissions, as the share of other greenhouse gas emissions is estimated to be very low and therefore irrelevant for reporting purposes. Scope 3 emissions consist of CO 2 and other greenhouse gases. All Scope 3 emissions have been converted into CO 2 equiv- alents. Biogenic CO 2 emissions originate from wood-based fuels, and the CO 2 emission factor used for their calculation is 396 tonnes of CO 2 /GWh. Emissions from power plants are allocated to mills, which use the energy from those power plants. Scope 1 emissions are calculated from fuels used at Metsä Board’s production units. Calculation is based on supplier-specific emission factors for fuels or nationally specified emission factors. Scope 2 emissions include emissions from purchased electricity and heat used at Metsä Board’s production units. Emissions from purchased electricity have been calculated using two different methods. The market-based method uses supplier-specific emis- sion factors for electricity, supplemented by national residual-mix

Non-financial reporting covers the entire Metsä Board Group, including Metsä Board Corporation and all companies in which the Group directly or indirectly holds more than 50% of the votes, unless otherwise stated. Metsä Board owns 24.9% of its associ- ated company Metsä Fibre, and the financial reporting includes the share of Metsä Fibre’s result corresponding to this holding. In non-financial reporting, the corresponding share of Metsä Fibre’s sustainability information is not included in Metsä Board’s sustain- ability information, with the exception of Metsä Fibre’s Scope 1 and Scope 2 emissions, which are taken into account in the emissions from Metsä Board’s value chain (Scope 3). • Environmental data are compiled from the operations of production units, and they have an environmental permit for their operations. • Personnel data are compiled for all employees of the Group. The reporting also covers subcontractors in terms of accidents. • This report also contains information related to the value chain, such as Scope 3 emissions and key figures describing the sustainability of suppliers. Metsä Board’s sustainability themes and key figures are based on Metsä Group’s materiality assessment conducted in 2018. Based on the materiality assessment, the most relevant indicators for the company’s operations, products and stakeholders have been selected. The materiality analysis and material topics were updated in 2022. The updated themes and targets will be adopted as of the reporting of 2023 data. Further information on the materiality assessment and its results is available on page 23. Sustainability Report 2022 follows the SASB Industry Standard for Pulp & Paper Products, which falls under the SASB Industry Class Renewable Resources & Alternative Energy. The reporting has been substantially supplemented by applying the Global Reporting Initiative (GRI) 2021 standards. The reporting period is 1 January−31 December 2022. The previous Sustainability Report was published on 23 February 2022. The report is published annually. Selected sustainability performance data and claims related to them have been externally assured (limited assurance) by an independent third party PricewaterhouseCoopers Oy. Assurance was conducted in compliance with international standards on


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