UPM has been ranked in 23rd place on the list of 100 most sustainable corporations by the Corporate Knights, the Canadian based media and research company. UPM is the only company listed in the Paper and Forest Products category. On the same date the company is also highlighted as a global leader on the CDP Forest A List.
Corporate Knights analysed some 7500 companies with revenues more than $1 billion. The Global 100 Index use determined quantitative sustainability indicators, including carbon productivity (revenue to tonne CO2 ratio), the percentage of taxes paid and board gender diversity, for example. Some 50% of each company's score measures the percentage of revenues earned from products and services that have environmental or well defined social benefits.
CDP recognises UPM for its actions to tackle deforestation in its supply chain with global and sustainable sourcing of key commodities linked to deforestation. As an international non profit organisation CDP drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. In 2018, over 7000 companies with over 50% of global market capitalisation disclosed environmental data through CDP.
‘For UPM, driving top performance is clearly linked to responsible business conduct and innovating sustainable and safe products and solutions for growing global consumer demand. Thanks to our strong position in forest biomass value chain, we see the limitless potential of bioeconomy in replacing fossil based materials in various applications and industries. To summarise, it is in the core of our Biofore strategy to innovate for a future beyond fossils,’ Sami Lundgren, vice president, responsibility, UPM said.
‘The Global 100 companies show that doing what is good for the world can also be good for financial performance,’ Toby Heaps, CEO of Corporate Knights says.
‘As the severity of environmental risks to business becomes ever more apparent, the companies receiving CDP Forest A List are the ones, who are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy,’ Paul Simpson, CEO of CDP highlights.