UPM Annual Report 2020

First page Table of contents Next page Last page
Cover1
Responsible solutions2 - 3
Contents4 - 5
UPM6 - 7
CEO review6 - 7
This is UPM8 - 9
Key figures and highlights10 - 11
Beyond fossils12 - 13
Global megatrends drive demand14 - 15
Towards a future beyond fossils16 - 17
From forest to sustainable products18 - 19
Creating shareholder value20 - 21
Our responsibility targets for 203022 - 23
Strategy24 - 25
Biofore strategy26 - 27
Ensuring performance28 - 29
Spearheads for growth30 - 31
Innovating for the future32 - 33
Value from responsibility34 - 35
Risks and opportunities36 - 37
Businesses38 - 39
The Biofore Company40 - 41
UPM Biorefining42 - 43
UPM Energy48 - 49
UPM Raflatac50 - 51
UPM Specialty Papers52 - 53
UPM Communication Papers54 - 55
UPM Plywood56 - 57
UPM Biochemicals58 - 59
UPM Biomedicals60 - 61
UPM Biocomposites60 - 61
Actions for future growth62 - 63
Responsibility64 - 65
Creating value with people66 - 67
Responsibility throughout the value chain80 - 81
Actions for environment86 - 87
Summary of our societal and environmental impacts96 - 97
Governance98 - 99
Significant decisions100 - 101
Remuneration106 - 107
Board of Directors110 - 111
Group Executive Team112 - 113
Assurance report114 - 115
Accounts for 2020116 - 117
Report of the Board of Directors118 - 119
Financial Statements146 - 147
Auditor’s Report214 - 215
Other financial information218 - 219

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