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.