Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate and the Environment
• Society
• Business Model

Environmental Achievements

• Reduced transport weight by approximately 1,000 tonnes/year for Huntonit roofing products (transition from wood fibreboard to cardboard packaging), resulting in a 60-tonne CO2 equivalent emission reduction.
• Increased volume of goods transported on electrified railways from 27% in 2022 to 31% in 2023, reducing approximately 1,000 MT CO2-eq/year.
• Converted Huntonit boiler systems to switch between gas and electricity, reducing CO2 equivalents by an amount equivalent to 214 passenger cars.
• Reduced energy consumption by around 0.45 GWh/year through frequency converters and optimized extraction system control.
• Completed installation of a district heating plant at Smartpanel, eliminating ash production and direct emissions.
• Near completion of LED lighting replacement throughout Huntonit factory, significantly reducing energy consumption.
• Installed a short wood jointer at Masonite Beams, increasing further processing and reducing raw material for bioenergy.
• Masonite Beams acquired seven electric company cars and an electric four-wheeler truck.
• Reduced ammonia consumption by over 80% in 2023 compared to 2021 at Forestia.
• Reduced transport weight by approximately 650 tonnes a year for Walls2Paint, reducing transport-based emissions by approximately 11 tonnes of CO2 equivalents per year.

Social Achievements

• Implemented HSE-related courses for over 200 employees.
• Improved company websites to provide better information and user experience.
• Developed statements concerning equal opportunities in Forestia, Huntonit, and Uldal.

Governance Achievements

• Will appoint a Sustainability Director in the first half of 2024.
• Will prepare reporting in accordance with CSRD in 2024.

Climate Goals & Targets

Environmental Challenges

• Increased energy and raw material prices in 2022 (stabilized but remained high in 2023).
• Rise in wood burning for energy recovery, making access to raw materials harder.
• Climate change impacts such as drought, heavy rainfall, and forest fires affecting wood chip storage and timber extraction.
• Extreme weather events disrupting power supplies, road networks.
• Increased risk of more wood being burned to produce energy due to the energy shortage in Europe.

Mitigation Strategies

• Focus on reducing energy consumption and efficient resource use.
• Developing alternative sourcing strategies (e.g., treatment plant for timber from demolition at Forestia, though currently on hold).
• Good backup solutions for digital infrastructure.
• Continuous work to reduce emissions from all business activities.
• Closely following developments in national and international environmental requirements.

Supply Chain Management

Responsible Procurement

• Use of certified wood (PEFC).

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (drought, heavy rainfall, forest fires), affecting wood chip storage, timber extraction, and energy prices.
• Disruption of power supplies and road networks.

Transition Risks

• Changes in framework conditions and regulations.
• Increased wood burning for energy production.

Opportunities

• Development of energy-efficient products.
• Carbon sequestration through wood products.

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 9001, ISO 14001, ISO 50001, PEFC CoC, EPD, UKCA, Swan Nordic ecolabel, M1, CARB Phase II / US EPA, Asthma and Allergy Association approval, Danish Indoor Climate Labelling, BASTA, ECOproduct

UN Sustainable Development Goals

• Goal 7 (Affordable and clean energy)
• Goal 13 (Climate action)

Using renewable forest materials, reducing energy consumption, and carbon sequestration through wood products.