Forestry company Tornator has updated its Green Finance Framework and received the highest possible Second Party Opinion, “Dark green,” by S&P’s Shades of Green. The same rating was also awarded to Tornator’s previous framework published in 2023.

There are no major changes in the framework and its Use of Proceeds criteria. The framework describes Tornator’s operations and objectives related to responsible, climate‑friendly forestry practices. In addition to double certification (FSC®* and PEFC™), Tornator is committed to achieving the targets of its Climate and Biodiversity Programmes extending to 2030, as well as to various measures promoting overall corporate responsibility.

For several years, all Tornator’s long‑term financing has been labelled green, and Tornator intends to continue this practice in the future.

SEB acted as advisor for Tornator’s updated Green Finance Framework.

In connection with the update, Tornator is also publishing the presentation materials from its Capital Markets Day, as well as the annually published Green Finance Investor Letter for 2025. The Investor Letter has been prepared based on the previous framework but it also meets the reporting requirements of the new framework.

For further information:  CFO Antti Siirtola, tel. +358 40 773 0975

www.tornator.fi/en

Attachments: 

Green Finance Framework 2026

S&P Second Party Opinion 2026

Green Finance Investor Letter 2025

Capital Markets Day presentation (April 2026)

*FSC license codes: Finland FSC‑C123368, Estonia FSC‑C132610, Romania FSC‑C132426

Artikkeli Tornator publishes an updated Green Finance Framework – Capital Markets Day -materials also available julkaistiin ensimmäisen kerran Tornator.

Annual Report 2025

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, firstname.lastname(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, firstname.lastname(@)tornator.fi

Tornator is a leader in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2025, the group’s turnover was approximately €232 million, and the balance sheet value was about €4.0 billion. The group has around 190 employees. Tornator’s own employees, and other companies and their employees working on its forestland, add up to around 1,600 FTE. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s mission is to generate sustainable well-being from forests. www.tornator.fi/en

Artikkeli Tornator’s Annual Report 2025 has been published julkaistiin ensimmäisen kerran Tornator.

For further information, please contact:

CEO Henrik Nieminen, tel. +358 40 869 7613
CFO Antti Siirtola, tel. +358 40 773 0975

Attachments: CMD presentation material and Green Finance Investor Letter 2024

Artikkeli Tornator’s CMD material and Green Finance Investor Letter for 2024 julkaistiin ensimmäisen kerran Tornator.

Annual Report 2024

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, firstname.lastname(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, firstname.lastname(@)tornator.fi

Tornator is a leader in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2024, the group’s turnover was approximately €213 million, and the balance sheet value was about €3.8 billion. The group has around 190 employees. Tornator’s own employees, and other companies and their employees working on its forestland, add up to around 1,600 FTE. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s mission is to generate sustainable well-being from forests. www.tornator.fi/en

Artikkeli Tornator’s Annual Report 2024 has been published julkaistiin ensimmäisen kerran Tornator.

Tornator Plc’s Annual Report 2023

The company reports on its sustainability on the basis of the Global Reporting Initiative’s GRI Standards for sustainability reporting. The reporting covers the key areas of Tornator’s economic, social and environmental responsibility.

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, firstname.lastname(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, firstname.lastname(@)tornator.fi

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Tornator is a leader in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2023, the group’s turnover was approximately €195 million, and the balance sheet value was about €3.6 billion. The group has around 190 employees. Tornator’s own employees, and other companies and their employees working on its forestland, add up to around 1,600 FTE. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s mission is to generate sustainable well-being from forests. www.tornator.fi/en

Artikkeli Tornator’s Annual Report 2023 has been published julkaistiin ensimmäisen kerran Tornator.

“The change will be reflected in light selection felling, small-scale clearcutting and strip cutting in mature forests. In other words, clear-felling will not be carried out at these sites. The most barren sites will be restored to their natural state,” says Tornator CEO Henrik Nieminen.  

Continuous-cover forest management reduces groundwater level fluctuations caused by felling and keeps water levels closer to those optimal from a climate perspective by reducing carbon dioxide and methane emissions. The absence of ditch cleaning and supplementary ditching and soil preparation will reduce strain on the water system and contribute to biodiversity.  

“The brand-new biodiversity roadmap for the wood processing industry also shows that the use of peatland forests and the impact of forestry on waterways and soil require further attention. With this decision, Tornator, Finland’s largest private forest owner, also wants to lead the way in the sustainable use of peatlands,” says Tornator’s Forestry Director Ari Karhapää (Additional information: Biodiversity roadmap for the wood processing industry). 

For further information, please contact:  

Heikki Myöhänen, Environmental Manager, tel. +358 50 441 2253 

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Tornator is a leading European company specialising in sustainable forest management. The company owns a total of 740,000 hectares of forest in Finland, Estonia and Romania. In 2022, the group’s turnover was approximately €165 million and balance sheet value approximately €3.2 billion. The group has around 190 employees. All in all, the forests owned by Tornator provide about 1,500 person-years worth of work for the company’s own personnel as well as entrepreneurs and their employees. Tornator owns around 13,000 hectares of private conservation areas protected by the Nature Conservation Act. The amount of areas not used for forestry total over 64,000 hectares. The owners of the parent company are Finnish, mainly institutional investors. Tornator’s mission is “generating sustainable wellbeing from the forest”. https://www.tornator.fi/en/biodiversity-program/ 

Artikkeli Tornator provides 20,000 hectares of forest for continuous-cover forestry  julkaistiin ensimmäisen kerran Tornator.

Tornator has updated its Green Finance Framework and received a new Second Party Opinion from an independent evaluator CICERO. CICERO rated Tornator’s Framework with the highest possible rating, i.e. “Dark green”, under their their “Shades of Green” classification. CICERO’s rating remained unchanged compared to Tornator’s old Framework.

The Framework describes Tornator’s operations and targets regarding the practice of responsible, climate-friendly forestry. In addition to double certification (FSC®* and PEFC™), Tornator is committed to achieving the goals of its own climate and biodiversity programs that are in place until 2030 and many other measures promoting overall responsibility.

Already under the old Framework, Tornator acquired majority of its financing as green funds and the company’s intention is to continue the same practice in the future. SEB advised Tornator in updating the Framework.

Simultaneously Tornator publishes the annual Green Finance Investor Letter from 2022, which is still based on the old Framework, but contains new and interesting information, e.g. about the positive climate effects of Tornator’s entire value chain.

For additional information, please contact:

CEO Henrik Nieminen, puh. +358 40 869 7613

CFO Antti Siirtola, puh. +358 40 773 0975

 Green Finance Framework 2023, CICERO SPO 2023, Green Finance Investor Letter 2022

*FSC-license codes:

Finland FSC-C123368

Estonia FSC-C132610

Romania FSC-C132426

Artikkeli Tornator’s Green Finance Framework has been updated, julkaistiin ensimmäisen kerran Tornator.

Tornator Plc’s Annual Report 2022

The company reports on its sustainability on the basis of the Global Reporting Initiative’s GRI Standards for sustainability reporting. The reporting covers the key areas of Tornator’s economic, social and environmental responsibility.

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, firstname.lastname(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, firstname.lastname(@)tornator.fi

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Tornator is a leading company specialised in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2022, the Group’s net sales were some €165 million, and the balance sheet value was about €3.2 billion. The Group has about 190 employees. In total, its forests directly provide work for the company’s employees as well as contractors and their staff worth some 1,500 person-years. The parent company’s shareholders are Finnish investors, mostly institutions. Tornator’s mission is “generating sustainable well-being from the forest”. www.tornator.fi/en

Artikkeli Tornator’s Annual Report 2022 has been published julkaistiin ensimmäisen kerran Tornator.

For further information, please contact:

CEO Henrik Nieminen, puh. +358 40 869 7613 CFO and Antti Siirtola, puh. +358 40 773 0975

Attachments: Capital Markets Day Presentation and Green Finance Investor Letter 2021

Artikkeli Tornator’s Capital Markets Day material and Green Finance Investor Letter 2021 have been published julkaistiin ensimmäisen kerran Tornator.

Tornator Plc’s Annual Report 2021

The company reports on its sustainability on the basis of the Global Reporting Initiative’s GRI Standards for sustainability reporting. The reporting covers the key areas of Tornator’s economic, social and environmental responsibility.

For further information, please contact:

Antti Siirtola, CFO, +358 40 773 0975, antti.siirtola(@)tornator.fi

Tuija Luukkanen, Corporate Responsibility Manager, +358 40 502 9062, tuija.luukkanen(@)tornator.fi

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Tornator is a leading company specialised in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2021, the Group’s net sales were some €129 million, and the balance sheet value was about €2.4 billion. The Group has about 190 employees. In total, its forests directly provide work for the company’s employees as well as contractors and their staff worth some 1,500 person-years. The parent company’s shareholders are Finnish investors, mostly institutions. Tornator’s mission is “generating sustainable well-being from the forest”. www.tornator.fi/en

Artikkeli Tornator Plc’s Annual Report 2021 has been published julkaistiin ensimmäisen kerran Tornator.