Holmen

Holmen reported Total CO2e Emissions - Location-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 157 Kt (+40/+34% y-o-y). Carbon intensity also increased to 65 t (+1.7/+2.7% y-o-y).

Holmen's Scope 3 emissions jumped to 550 Kt (+90/+20% y-o-y). This is broadly in line with the growth trend (CAGR +19% since 4Q'19).

The company has not set a company-wide target for an absolute reduction in GHG emissions yet.

Holmen also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Holmen commits to reduce scope 1 and 2 GHG emissions 15.1% per ton of paper and pulp by 2030 from a 2019 base year.* Holmen commits to reduce scope 3 GHG emissions from upstream and downstream transportation and distribution 22% per tonne-kilometre over the same timeframe. Holmen commits to reduce scope 3 GHG emissions from fuel- and energyrelated activities 22% per tonne of woody biomass over the same timeframe. Holmen commits that 35% of its suppliers by emissions covering purchased goods and services will have science-based targets by 2025. *The target boundary includes bioenergy emissions and removals from biogenic sources.