SSAB, Stora Enso and SAS are the biggest climate culprits on the Stockholm stock market, according to a new survey by consultants South Pole Group.
Noel Morrin, sustainability manager at Stora Enso, says it features high on the list because it is more international than its Nordic competitors. The company plans to achieve almost zero emissions through investment and purchasing renewable electricity.
On the other hand manufacturer Atlas Copco performed well. An investment in the company produces a tenth of the emissions as an investment in ABB.
After buying rival Rautaruukki last year, Swedish steelmaker SSAB has become a stakeholder in Fennovoima, which has plans to build a nuclear plant in the Finnish village of Pyhäjoki.
The Swedish arm of environmental organisation Greenpeace is highly critical of SSAB’s involvement in the much-disputed project, saying: “It is deeply alarming that SSAB is funding the construction of a Russian nuclear power plant just 150 kilometres from the Swedish border, given the huge environmental and financial risks associated with the project”.
In a move designed to persuade SSAB to quit the project, Greenpeace representatives will today meet with the steelmaker’s executives. However, while SSAB says it welcomes a discussion, it has no plans to withdraw from the venture.