The financing of Stora Enso

The report details the financial structure of Stora Enso as of late 2009, noting that shareholders and bondholders are the primary sources of capital. It identifies key institutional investors, banks providing loans, and the company's participation in the EU Emissions Trading Scheme.

• As of December 31, 2009, Stora Enso's assets totaled €11,593.2 million, with shareholders being the most significant financial stakeholders, providing 44.2% of the funding, followed by bondholders at 23.7% and banks at 6.8%.
• The largest shareholders of Stora Enso include the Finnish state (12.30%), Foundation Asset Management in Sweden (10.15%), and Kela in Finland (3.37%).
• Major bondholders include ManuLife in Canada (2.07%), New York Life Insurance in the United States (1.64%), and Lincoln National Life Insurance in the United States (1.39%).
• The European Investment Bank provided significant funding for research and infrastructure, including a €140 million loan in 2007 for research and technological development, and a total commitment of €230 million for R&D and the construction of the Ostroleka power plant in Poland.
• Between 2007 and 2009, Stora Enso received government subsidies totaling €13.5 million, the majority of which (€7.68 million) were provided by the Finnish state agency Tekes.
• Stora Enso generated net income from the European Union Greenhouse Gas Emission Trading System (EU ETS) by selling surplus emission rights, realizing €21.9 million in 2008 and €21.8 million in 2009.

APA

van Gelder, J. W., & van Ojik, A. (2010). The financing of Stora Enso. Friends of the Earth International. https://www.foei.org/wp-content/uploads/2020/12/Report-Stora-Enso-Financers.pdf

Chicago

van Gelder, Jan Willem, and Anna van Ojik. The financing of Stora Enso. Friends of the Earth International, 2010. https://www.foei.org/wp-content/uploads/2020/12/Report-Stora-Enso-Financers.pdf.

Wikipedia

{{cite report |last1=van Gelder |first1=Jan Willem |last2=van Ojik |first2=Anna |title=The financing of Stora Enso |publisher=Friends of the Earth International |date=6 May 2010 |url=https://www.foei.org/wp-content/uploads/2020/12/Report-Stora-Enso-Financers.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{vangelder2010financing, author = {van Gelder, Jan Willem and van Ojik, Anna}, title = {{The financing of Stora Enso}}, institution = {Friends of the Earth International}, year = {2010}, month = may, url = {https://www.foei.org/wp-content/uploads/2020/12/Report-Stora-Enso-Financers.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }