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European Climate Pact
private sectorUPM-Kymmene Corporation

UPM-Kymmene Corporation

Overview

Location

Finland

Sector

Paper & Forestry

Organisation type
Business

Company Information

UPM-Kymmene Corporation is a publicly listed company, operating in the forestry industry. It is headquartered in Helsinki, Finland. It's business includes operations in pulp, timber and biofuels. UPM Biofuels produces wood-based renewable diesel and UPM Energy generates cost-competitive, zero-carbon electricity. In 2021 the company reported a total of 17,000 employees across 40 countries and a sales revenue of 9,8 billion euros.*

*Source (07.06.2022)

Our progress towards decarbonization

 

GHG Emissions

North Star

  • UPM-Kymmene Corporation has a target to reduce absolute scopes 1 and 2 CO2e emissions 65% by 2030 from a base year of 2015

Pledge: Have a public no deforestation (forests-related) commitment that is set to be completed prior to 2030 with a cut-off date before 2020. The commitment covers 100% of production and consumption and applies to all relevant operations. It is FPIC-based (Free, Prior and Informed Consent of indigenous people)

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have an internal price on carbon 
  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in production processes
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 

​​​​MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

 

Forests

North Star

  • UPM-Kymmene Corporation have a public no deforestation (forests-related) commitment that is set to be completed within the timeframe 2021-25 with a cut-off date of 2008. The commitment covers 100% of Timber products production and consumption and applies to their direct operations and supply chain. It is FPIC-based (Free, Prior and Informed Consent of indigenous people).

Pledge: Have a public no deforestation (forests-related) commitment that is set to be completed prior to 2030 with a cut-off date before 2020. The commitment covers 100% of production and consumption and applies to all relevant operations. It is FPIC-based (Free, Prior and Informed Consent of indigenous people)

​​​​MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Commit to zero gross deforestation
  • Set a quantifiable target for increasing the sustainable production and/or consumption of disclosed commodities as share of total
  • Participate in jurisdictional approaches to promote the implementation of forests-related policies and commitments
  • Work with direct suppliers to support and improve their capacity to comply with our forests-related commitments, policies, and other requirements
  • Work with smallholders along the company's value chain to support good agricultural practices and reduce deforestation or conversion of natural ecosystems through financial or technical assistance
  • Publicly disclose data on forest-related impact to investors through a public platform
  • Have a publicly available forest policy, with well-defined goals and targets, that is used to inform internal decision-making
  • Have board-level oversight of forests-related issues
  • Have forests issues be fully integrated in all parts of long-term strategic business plans
  • Make a comprehensive forests-related risk assessment, that checks the following criteria: full coverage of relevant operations, considers risks beyond six years and availability of forest risk commodities, quality of forest risk commodities, impact of activity on the status of ecosystems and habitats, social impacts, and includes local communities; Stakeholders considered is local communities
  • Assess company and suppliers' compliance with forests regulations and/or mandatory standards when sourcing commodities from regions with high deforestation risk 
  • Have a system to control, monitor, and verify compliance with no-deforestation policies/commitments that covers all relevant operations and supply chains and shows more than 90% of total volume in compliance

MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Forests 2022

 

Water

Our actions – the Pathway

  • Have a target to reduce water discharge 
  • Publicly disclose data on water-related impact to investors through a public platform
  • Have board-level oversight of water issues
  • Integrate water-related issues into the company's financial planning
  • Integrate water-related issues into the company's long-term business objectives
  • Integrate water-related issues into the company's strategy to achieve long-term business objectives
  • Regularly monitor and measure key water security metrics at least for 75% of the company's facilities

​​​​​​​MRV: Pact MRV in place

Status date: Submitted (28/07/2022)

Data source: CDP Water 2022

 

Governance & Strategy

North Star

  • UPM-Kymmene Corporation have a publicly available 1.5°C aligned low-carbon transition plan

Pledge: Have a publicly available 1.5°C aligned low-carbon transition plan

​​​​​​​​​​​MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

​​​​​​​​​​​MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022

 

Value chain engagement

Our actions – the Pathway

  • Have an ongoing and transparent dialogue with our value chain around climate-related issues
  • Have a supplier/customer engagement strategy to drive best practices in tackling environmental and climate-related issues

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​MRV: Pact MRV in place

Status date: Submitted (01/08/2022)

Data source: CDP Climate Change 2022