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UPM acheives high ranking on CDP's Nordic Carbon Disclosure Leadership Index

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UPM acheives high ranking on CDP's Nordic Carbon Disclosure Leadership Index

October 21, 2010 - 00:12
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HELSINKI, Oct. 21, 2010 (Press Release) -UPM has been ranked high on the Carbon Disclosure Project's (CDP) Nordic Carbon Disclosure Leadership Index. The index is a key component of the CDP's annual Nordic 200 Report, highlighting companies within the Nordic stock exchanges which have displayed the most professional approach to corporate governance in respect of climate change disclosure practices.

The companies are scored on their climate change disclosure focusing on greenhouse gas emissions, emissions reduction targets and how the companies manage risks and opportunities associated with climate change.

The Biofore Company UPM has adopted a global approach to reduce its carbon footprint. The target is to reduce CO2 emissions to achieve a best-in-class carbon footprint in the industry.

"We have an excellent track record showing major fossil CO2 emission reduction thanks to our investments in renewable energy production, mainly in biomass-based combined heat and power production. In addition to consistent energy efficiency improvements, the investments have resulted in a 40% reduction of fossil CO2 emissions per tonne of paper since 1990," says Anja Silvennoinen, Senior Vice President of UPM's Energy Business Area.

"We are actively developing new solutions to answer the growing demand for carbon neutral products and renewable energy sources. We are also developing the production of renewable, high-quality second generation biofuels," Silvennoinen continues.

UPM's businesses are based on sustainable products made from renewable and recyclable raw materials using low-carbon energy sources. Carbon neutral energy sources dominate the company's energy portfolio. UPM is a frontrunner in the use of forest biomass as a fuel and has invested over one billion euros in renewable biomass-based energy generation during the last decade. In Finland 79% and globally 63% of fuels used at UPM mills are biomass-based and CO2-neutral. UPM also has a major role in other CO2-free energy generation through its hydro and nuclear assets.