The Sustainability Report has been prepared in accordance with the GRI (Global Reporting Initiative) standard, focusing on four key topics for Latvijas Finieris: forestry, positive employee experience, environmental impact and CO2 emissions management, as well as the development of side stream product utilization. Given the fact that this is the first official Sustainability Report of its kind for the Group, the collection of key data in a number of areas has only recently started. This is particularly the case for the CO2 emissions created as a side stream product of the Group’s processes and the carbon stored in our wood products, where the sustainability team at KPMG Baltics SIA was engaged to develop the calculation methodology. The calculation methodology for carbon sequestration in forests owned by Latvijas Finieris was developed together with specialists from the Latvian State Forest Research Institute Silava. In future Sustainability Reports, which will be published annually, the calculation methodology will be gradually developed to cover more and more sustainability aspects.

“For our extensive and international team, the meaning of the concept “sustainability” has been a natural measure of our daily work since day one. Throughout the value chain, we have always strived to balance economic benefits, responsible behaviour towards employees and society in general, as well as care for the environment and its diversity. We hope that this and future annual Sustainability Reports will help our employees, customers and business partners to attain the best possible picture of the Group’s operations and the focus of further development,” says Jānis Ciems, Chairman of the Executive Board of Latvijas Finieris.

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