Company Profiles

Stora Enso

Finland

As one of the world's largest producers of paper and board, Stora Enso has a significant leadership role in this industry. The company works to develop products based on renewable raw materials that are harvested at a sustainable rate. Approximately one-third of the company's own plantations are pursuing Forest Stewardship Council (FSC) certification and about half of its raw materials come from certified forests (including FSC and other certification systems). FSC certification is particularly important, as we believe this is the only truly credible forest certification system. Other certification systems are an improvement over traditional industry practices, however, we believe they do not represent leading practices. Stora Enso relies on biofuels for over 60% of the company's total fuel consumption in production. All of Stora Enso's products are recyclable, and the company uses over two and a half million tons of recovered fiber annually. The company is shifting its fiber procurement strategy to focus on South America, China, and Russia. Portfolio 21 encourages Stora Enso to address land rights and other social issues, as well as the challenges of rigorous documentation and transparency of environmental performance within these regions.

Biotechnology Involvement

Stora Enso is a paper and pulp company with its own FSC-certified forest lands. Stora Enso's policy states that it will not use genetic engineering on trees or any other organisms. Visit our Biotechnology Policy for more on this issue.

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/30/07 and may not reflect current opinions or subsequent events.