Nine Dragons Paper Industries

Nine Dragons Paper Holdings Limited is one of the world’s largest containerboard producers, with a manufacturing process that is highly energy-intensive and reliant on coal-fired power. The company’s carbon intensity is significantly higher than the global paper sector average, placing it in the lowest performance band (“High”) under the Transition Pathway Initiative’s Climate Performance benchmark. This assessment indicates its emissions trajectory is misaligned with the Paris Agreement goals.

The company’s own reporting acknowledges a lack of separate, audited Scope 1 and Scope 2 emissions data for fiscal year 2020, and its disclosed emissions intensity is benchmarked against standards set by China’s Ministry of Ecology and Environment rather than more stringent international climate targets. While the company holds SA8000 social responsibility certification for some subsidiaries, this does not address the material climate governance gap. There is no evidence of a published, science-aligned decarbonization strategy or a commitment to phase out coal use across its operations.