UPM-Kymmene has been recognised by global non-profit organisation CDP 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,” said Pirkko Harrela, EVP, UPM stakeholder relations, who pointed out that in January 2020 it signed the UN Business Ambition for 1.5°C with commitment to climate-positive forestry, ambitious CO2 emission reductions and new product innovations.
This year UPM has established a ‘Green Finance Framework’ and issued the first EUR 750m 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.