CDP, a global non-profit organisation, has recognised UPM as one of the world’s Triple A List companies for tackling climate change and taking actions to ensure sustainable forest management and water security. Only ten out of more than 5,800 companies were able to receive a Triple A recognition and UPM got it for the second year in a row.
“As a forest and bio products company, receiving an A on Climate, Forest and Water is an extremely valuable recognition. In January, we signed the UN Business Ambition for 1.5°C with commitment to climate-positive forestry, ambitious CO2 emission reductions and new product innovations,” says Pirkko Harrela, EVP, UPM Stakeholder Relations.
In 2020 the company has established a Green Finance Framework and issued the first EUR 750 million Green Bond to allocate assets to projects that enhance sustainable forest, waste and water management, increase energy efficiency and use of renewable energy as well as promote innovating climate positive products and solutions. UPM is also one of the first companies to link the pricing mechanism of a syndicated revolving credit facility to both biodiversity and climate targets.
“Congratulations to the companies that achieved a position on CDP’s A List this year for leading environmental performance and transparency. The scale of the business risks due to climate change, deforestation and water insecurity is vast - as are the opportunities from addressing them - and it’s clear that the private sector has a vital role to play. The A List companies are leading the market in sustainability, tackling environmental risks and setting themselves up to thrive in tomorrow’s economy,” says Paul Simpson, CEO of CDP.
The full methodology and criteria for the A List is available on CDP’s website.
For further information please contact:
Gabriele Wende, Director, UPM Responsibility, tel. +49 175 150 0705
UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com
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CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow us @CDP to find out more.