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Last updateWed, 29 Nov 2023 12pm
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UPM RECOGNIZED AS ONE OF WORLD LEADERS FOR CORPORATE ACTION ON CLIMATE CHANGE

UPM has achieved a top position with the highest possible score, 100, on The A List in the CDP Climate Performance Leadership Index 2014. UPM was the only paper and forest products company in the world with A100 level.

The A List presents 187 listed companies identified as demonstrating a superior approach to climate change mitigation. The list has been produced by CDP, the international NGO that drives sustainable economies, and it was made at the request of 767 investors representing more than a third of the world's invested capital.

According to CDP, the leading companies are making better progress to mitigate climate change than their non-leading peers. They invest more to decrease emissions and  provide a high level of transparency in their disclosure of climate-related information. Leaders are also enjoying good financial results from their efforts.

"We are very proud of this recognition. This is the first time in the global index, and the 6th time in a row in the CDP Nordic Climate Disclosure Leadership Index. Having a top score of 100 makes the achievement even more valuable", says Päivi Salpakivi-Salomaa, Vice President, UPM Environment and Responsibility.

"This recognition addresses our Biofore strategy in action. Climate is one of the key areas of our sustainability agenda. We have a solid track record in emissions reduction not only in traditional ways but also in new innovations like renewable wood-based biofuels," Salpakivi-Salomaa continues.

UPM is a frontrunner in the use of forest biomass as a fuel. Globally 67% of fuels used at UPM mills are biomass-based and 78% of the company's electricity production is free from fossil CO2 emissions. UPM has invested over one billion euros in renewable biomass-based energy generation during the last decade.

Paul Simpson, Chief Executive Officer of CDP, says: "Global greenhouse gas emissions continue to rise and we face steep financial risk if we do not mitigate them. The need for data on corporate climate change impacts and strategies to reduce them has never been greater. Thus, there are many good reasons to congratulate UPM. The companies listed in this index are responding to the ever-growing demand for environmental accountability and should inspire others to follow suit."

www.upm.com

 

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