UPM recognized as one of world leaders for corporate action on climate changePress Release 15.10.2014 19:02 EET
(UPM, Helsinki, 15 October, at 13:00 EET) – 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.”
Companies presented on the The A List are available on CDP web site:
Päivi Salpakivi-Salomaa, Vice President, Environment and Responsibility, UPM, tel. +358 400 754 748.
UPM Media Desk
Tel. +358 40 588 3284
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper Europe and North America and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 21,000 people and its annual sales are approximately € 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM – The Biofore Company – www.upm.com
CDP is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 767 institutional investors with assets of US$92 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate-change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdp.net or follow us @CDP to find out more.