CDP recognizes UPM with double ‘A’ score for transparency on climate change and forests
(UPM, Helsinki, 6 February 2024 at 10:00) – UPM has been recognised by the global environmental non-profit organisation CDP for its leadership in corporate transparency and performance on climate change and forests, securing a place on the annual 'A List'. Based on data reported through CDP's 2023 Climate Change and Forests questionnaires, UPM is one of a small number of companies to achieve a double 'A' out of more than 21,000 companies assessed. For the water questionnaire, UPM received an A-, which is also a leadership position.
"In today's world, all three aspects of the CDP are very important for all of us," says Sami Lundgren, Vice President, Responsibility, UPM.
UPM's climate action combines sustainable forestry, ambitious emission reduction targets and innovative, renewable products that can replace fossil-based materials and products.
"As the COP28 UN Climate Change Conference has also highlighted, the world needs a transition away from fossil fuels and raw materials. This goes hand in hand with our actions. Our carbon-free electricity generation increased by 50% in 2023, and the construction of our first of its kind biochemical refinery in Germany continued. Mitigating climate change is also the single most important action we can take to protect biodiversity, and in 2022 we created a new environmental focus area specifically dedicated to improving biodiversity. Our most significant impacts on biodiversity are in forests, but our focus also covers water-related impacts through stream waters and industrial emissions," says Lundgren.
In 2023, more than 740 financial institutions with more than US$136 trillion in assets asked companies to disclose data on environmental impacts, risks and opportunities through the CDP platform. A record 24,000 companies responded.
Sherry Madera, CEO of CDP, says:
“Congratulations to all the companies on CDP’s A List, earning a place on the A List is about more than the score. It’s an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what represents environmental leadership, the work of A List companies is never complete. We look forward to seeing all companies turn their commitments into further and more meaningful and effective action.”
The full list of companies included in this year's CDP A List is available here: https://www.cdp.net/en/companies/companies-scores
For further information, please contact:
Tuomas Niemi, Senior Manager, Responsibility, UPM, tel. +358 40 7388 137
UPM, Media Relations
Mon-Fri 9:00-16:00 EET
Tel. +358 40 588 3284
media@upm.com
UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, 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 16,500 people worldwide and our annual sales are approximately EUR 10.5 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com
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About CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 740 financial institutions with over $136 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 24,000 organizations around the world disclosed data through CDP in 2023, with more than 23,000 companies – including listed companies worth two thirds global market capitalization - and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.
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