HELSINKI, March 14, 2019 (Press Release) -Stora Enso has joined the New Plastics Economy Global Commitment to eliminate plastic waste and pollution at the source. The Global Commitment and its vision for a circular economy for plastic is led by the Ellen MacArthur Foundation, in collaboration with UN Environment.
For Stora Enso, signing the commitment is another step to combat the global problem of plastic pollution by providing renewable alternatives. Stora Enso will contribute by cooperating with customers and suppliers to develop circular and low carbon solutions to replace plastic packaging. The materials are based on wood fibres from sustainably managed forests and plantations. This commitment is an example of the increasing demand for alternatives to plastic, also demonstrated by the EU’s recent policy on single-use plastics.
“Stora Enso operates at the heart of the circular bioeconomy and we collaborate with customers and partners to create a sustainable future with less plastics,” says Karl-Henrik Sundström, CEO of Stora Enso. “We have, for example, developed a renewable, biodegradable drinking straw to replace the traditional plastic straw, and our mouldable biocomposites help reduce the amount of plastic in products.”
The Global Commitment and its vision for a circular economy for plastics are supported by the World Wide Fund for Nature (WWF). It has also been endorsed by the World Economic Forum, The Consumer Goods Forum (a CEO-led organisation representing some 400 retailers and manufacturers from 70 countries), and 40 universities, institutions, and academics.
Moreover, more than fifteen financial institutions with in excess of USD 4 trillion in assets under management have endorsed the Global Commitment and over USD 200 million has been pledged by five venture capital funds to create a circular economy for plastic.
The Global Commitment aims to create “a new normal” for plastic packaging. Commitments and targets will be reviewed every 18 months, and become increasingly ambitious over the coming years. Businesses that sign the commitment will publish annual data on their progress to help drive momentum and ensure transparency.
Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 26 000 employees in over 30 countries. Our sales in 2018 were EUR 10.5 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY).