Due diligence process
ESRS content index
METSÄ BOARD Annual review 2024
This table presents the core elements of the due diligence process and the paragraphs in the Sustainability statement providing further details about each topic.
The ESRS content index lists the disclosure requirements that Metsä Board has followed in preparing its sustainability statement and where they can be found.
Business operations and value creation 2 This is Metsä Board 4 CEO’s review 6
ESRS INDICATOR
LOCATION & COMMENT
CORE ELEMENTS OF DUE DILIGENCE
PARAGRAPHS IN THE SUSTAINABILITY STATEMENT
ESRS 2 – General Disclosures BP-1 – General basis for preparation of sustainability statements
a) Embedding due diligence in governance, strategy and business model
The role of the administrative, management and supervisory bodies in identifying and managing sustainability impacts, risks and opportunities Interests and views of stakeholders and the related identification process
Reporting Principles
BP-2 – Disclosures in relation to specific circumstances
Reporting Principles
Strategy and financial targets
b) Engaging with affected stakeholders in all key steps of the due diligence
Interests and views of stakeholders and the related identification process
GOV-1 – The role of the administrative, management and supervisory bodies
The role of, information provided to and sustainability matters addressed by the adminis- trative, management and supervisory bodies The role of, information provided to and sustainability matters addressed by the adminis- trative, management and supervisory bodies
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Value creation
Stakeholder engagement in the materiality assessment
GOV-2 – Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies
S1 Engaging with the workforce and workforce representatives about impacts S2 Engaging with value chain workers about impacts S3 Engaging with affected communities about impacts S4 Engaging with consumers and end-users about impacts
Financial development 10 Key figures 12
GOV-3 – Integration of sustainability-related performance in incentive schemes
Integration of sustainability-related performance in incentive schemes
GOV-4 – Statement on due diligence
Due diligence process -table
GOV-5 – Risk management and internal controls over sustainability reporting
Risk management and internal controls over sustainability reporting
c) Identifying and assessing adverse impacts
The identification and assessment of material impacts, risks and opportunities
Report of the Board of Directors
SBM-1 – Strategy, business model and value chain
Business model, value chain and strategy
E1, E2, E3, E4, E5, S1, S2, S3, S4, G1 The identification and assessment of material impacts, risks and opportunities
20 20 37 70 89 96
• Sustainability statement
SBM-2 – Interests and views of stakeholders
Interests and views of stakeholders
G1 Mechanisms for identifying, reporting and investigating concerns
General information
SBM-3 – Material impacts, risks and opportunities and their interaction with strategy and business model
S1 , S2 , S3 , S4 Material impacts, risks and opportunities -tables; S1, S2, S3 , S4 The identification and assessment of material impacts, risks and opportunities Risk management and internal controls over sustainability reporting ; Material sustainability-related impacts, risks and opportunities ; E1, E2, E3, E4, E5 The identification and assessment of material impacts, risks and opportunities
G1 Prevention and detection of corruption and bribery
E – Environment
d) Taking actions to address those adverse impacts
E1 , E2 , E3 , E4 , E5 , S1 , S2 , S3 , S4 Actions Through actions, adverse impacts and risks are managed, and opportunities are promoted. G1 Relationships with goods and service suppliers
IRO-1 – Description of the processes to identify and assess material impacts, risks and opportunities
S – Social responsibility
G – Governance
Annexes to the Sustainability statement
G1 Prevention and detection of corruption and bribery
IRO-2 – Disclosure requirements in ESRS covered by the undertaking’s sustainability statement
Material sustainability-related impacts, risks and opportunities
e) Tracking the effectiveness of these efforts and communicating
Metrics and targets The effectiveness of actions is measured and communicated using Metsä Board’s strategic 2030 sustainability targets E1, E2, E3, E5 The identification and assessment of material impacts, risks and opportunities The environmental permit and the related monitoring programme set the minimum requirements for the observation of environmental impacts E4 Impact metrics related to changes in biodiversity and ecosystems
98 Consolidated financial statements 102 Notes to the consolidated financial statements 150 Parent company financial statements 153 Notes to the parent company financial statements 166 The Board’s proposal to the Annual General Meeting for the distribution of funds 167 Auditor’s Report 171 Sustainability statement assurance report 173 Shares and shareholders 177 Ten years in figures 178 Taxes 179 Production capacities 181 Calculation of key ratios and comparable performance measures Corporate governance 183 Corporate governance statement 190 • Board of Directors of Metsä Board 194 • Corporate Management Team of Metsä Board
Policies MDR-P – Policies adopted to manage material sustainability matters
E1, E2, E3, E4, E5, S1, S2, S3, S4 , G1 Policies
Actions MDR-A – Actions and resources in relation to material sustainability matters
E1 , E2 , E3 , E4 , E5 , S1 , S2 , S3 , S4 Actions
Metrics MDR-M – Metrics in relation to material sustainability matters
E1, E2, E3, E4, E5, S1 , G1 metrics tables ; E1 , E2, E3, E4, E5, S1 , G1 Reporting principles for metrics
Targets MDR-T – Tracking effectiveness of policies and actions through targets
E1 , E2, E3 , E4 , E5, S1, S2, S3, S4 , G1 Metsä Board’s 2030 sustainability targets
S1 , S2 , S4 Actions
ESRS E1 – Climate Change E1-1 – Transition plan for climate change mitigation
S3 Engaging with affected communities about impacts
E1 Transition plan for climate change mitigation and adaptation
E1-2 – Policies related to climate change mitigation and adaptation
E1 Policies
G1 Relationships with goods and service suppliers
E1-3 – Actions and resources in relation to climate change policies
E1 Actions
E1-4 – Targets related to climate change mitigation and adaptation
E1 Metsä Board’s 2030 sustainability targets ; E1 GHG emissions reduction targets -table; E1 Reporting principles for metrics
E1-5 – Energy consumption and mix
E1 Energy consumption and combination of energy sources -table; E1 Energy generation -table;
E1-6 – Gross Scopes 1, 2, 3 and Total GHG emissions
E1 GHG emissions -table; E1 GHG intensity -table
E1-7 – GHG removals and GHG mitigation projects financed through carbon credits
Metsä Board does not have carbon capture of offsets.
E1-8 – Internal carbon pricing
E1 Financial effects
E1-9 – Anticipated financial effects from material physical and transition risks and potential climate-related opportunities
E1 Financial effects Anticipated financial effects reported partly as qualitative information.
ESRS E2 – Pollution E2-1 – Policies related to pollution
E2 Policies
E2-2 – Actions and resources related to pollution
E2 Actions
E2-3 – Targets related to pollution
E2 Targets
E2-4 – Pollution of air, water and soil
E2 Emissions to air -table; E2 Emissions to water -table; E2 Environmental permit deviations at Metsä Board’s mills -table; E2 Reporting principles for metrics
E2-5 – Substances of concern and substances of very high concern
Metsä Board does not cause emissions of substances of concern or very high concern.
E2-6 – Anticipated financial effects from pollution-related impacts, risks and opportunities
E2 Financial effects Anticipated financial effects reported partly as qualitative information.
196 Remuneration report 201 Investor relations and investor information
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Report of the Board of Directors | METSÄ BOARD ANNUAL REVIEW 2024
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