Climate Change Data

Storytel AB (publ)

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:1798 tCO2e (Storytel Books)
Scope 1 Emissions:18 tCO2e (Storytel Books)
Scope 2 Emissions:49 tCO2e (Storytel Books)
Scope 3 Emissions:1731 tCO2e (Storytel Books)
Carbon Intensity:One hour of listening emits 2.3 grams of CO2e; one printed book emits 344 grams of CO2e.

ESG Focus Areas

  • Wellbeing of customers (Brainprint)
  • Wellbeing of the planet (Footprint)
  • Wellbeing of employees and partners (Fingerprint)

Environmental Achievements

  • Storytel Books reduced Scope 3 emissions by approximately 40% (from 3,174 to 1,798 tCO2e) due to lower print volumes, lower paper weights, fewer four-color books, and improved data on paper qualities.
  • Avoided air freight in Storytel Books.
  • Improved packaging and wood quality in Storytel Books to minimize waste.

Social Achievements

  • 82% of Storytel users report increased reading habits since subscribing.
  • Launched Voice Switcher feature, personalizing listening experience with AI voices.
  • Organized The Great Reading Challenge, with record participation (45,000 students) and increased reading time.

Governance Achievements

  • Strengthened Management Team with key recruitments.
  • Implemented a new performance-based Long-Term incentive program.
  • Introduced its first Short Term Incentive Plan.

Climate Goals & Targets

Medium-term Goals:
  • Reach 4.5 billion SEK in group revenue by 2026.
  • Achieve streaming revenue CAGR of 10-12 percent by 2026.
  • Achieve an adjusted EBITDA-margin above 15 percent by 2026.
  • Achieve operational cash flow above 10 percent of revenue by 2026.
Short-term Goals:
  • Help more than 1.15 million people consume one book per month in 2024.

Environmental Challenges

  • Slower economic growth, high inflation, and elevated interest rates impacting the global economy.
  • Competition in the audiobook market.
  • Content risks associated with attracting and retaining important content creators.
Mitigation Strategies
  • Intensified focus on ten core markets for profitable growth.
  • Enhanced marketing efficiency, acquiring more subscribers for less investment.
  • Improved content economics and restructuring of Streaming and Books organizations.
  • Continued investments in original content and brand building.
  • Proactive monitoring of changes in legal conditions.

Supply Chain Management

Responsible Procurement
  • Supplier Code of Conduct aligned with UN Global Compact principles (Storytel Streaming since 2021).
  • Strict Code of Conduct for suppliers (Norstedts Förlagsgrupp since 2013).

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Global Compact

Certifications: FSC-certified paper (Mixed Sources) for almost all books