Holmen's growing forests already absorb and store carbon dioxide in their products is three times greater than the Group's total fossil emissions. By actively managing the forest responsibly and constantly replanting new trees, it not only binds more carbon dioxide – the renewable raw material we process also helps other companies to reduce their climate footprint.
Holmen's contribution to the climate transition is most evident when the Group's products reduce the need for fossil materials and raw materials so that coal, oil and gas can stay underground. Not only looking at our own impact, but also contributing positively to the rest of the world, that's what we mean by Beyond Net Zero – the message conveyed on the cover and in the introduction of the 2024 Annual report.
Alignment with CSRD guidelines
Holmen is covered by the EU's Corporate Sustainability Reporting Directive (CSRD), which sets out extensive reporting requirements linked to the environment, social responsibility and corporate governance. The CSRD will not apply until the next annual report, but Holmen has taken major steps in adapting the 2024 report to the CSRD guidelines.
Among other things, the materiality assessment has been updated in relation to the upcoming rules in the CSRD on so-called double materiality assessment. Holmen has identified five areas where the Group's impact is considered to be material:
- Our climate benefits are increasing through a growing business
- Our forestry creates conditions for biodiversity
- We develop our operations within the framework of environmental permits and certifications
- Our employees are developing and feeling good
- Based on responsible business, we build long-term relationships
Reporting on Biodiversity Conditions
For the first time, Holmen is reporting on how the conditions for biodiversity have developed on the Group's own forest land. The development is monitored through five indicators that have been selected with regard to the Swedish Forest Industries Federation's biodiversity targets and dialogues with various stakeholders. The indicators are industry-wide, which means that it will be possible to compare the development with other forest industry companies.
The purpose of the indicators is to follow the development of biodiversity and evaluate the effect of nature conservation efforts. The indicators are measured based on independent statistics retrieved from the Swedish National Forest Inventory at the Swedish University of Agricultural Sciences (SLU).
The results show that the proportion of older forest, the volume of dead wood, the volume of deciduous trees and the volume of coarse deciduous trees have increased by between 15 and 81 per cent since 1996. The proportion of older forest with a special indication of conservation values has increased by 73 per cent since 2005.
Holmen's climate benefit continues to increase
In 2024, Holmen contributed a climate benefit of 8.3 million tonnes of carbon dioxide equivalents, which can be compared to Sweden's total emissions, which amounted to 45 million tonnes in 2023. This means that the climate benefit has increased from the previous year.
In 2024, Holmen updated the calculation method for climate benefits in accordance with the Climate Effect Assessment and Reporting (CLEAR) model. The CLEAR model contributes to increased transparency and standardisation in the reporting of Holmen's climate impact and positive effects on the climate.
Since 2024, Skogforsk has been managing and further developing the calculation model. This allows for harmonisation with national reporting. The model is continuously updated based on new research and is on its way to becoming an ISO standard.
Read Holmen's Annual Report for 2024