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CDP recognizes UPM with double 'A' score for transparency on climate change and forests

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

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