WE ACT THROUGH FORESTS Sustainable forestry is critical for our business. The way in which we use land plays a crucial role in climate change mitigation. Trees and plants capture carbon dioxide from the atmosphere when they grow. At the same time, carbon dioxide is stored in the soil. Thriving forests are more resilient to changes in the climate and an efficient way to mitigate climate change. That’s why we are commit- ted to climate-positive forestry and enhancing biodiversity. We are also exploring new ways to use agricultural lands in a way that creates benefits for the climate. Sustainable forestry on page 86
WE ACT THROUGH EFFICIENCY AND EMISSIONS Decreasing the use of fossil fuels is the most important way to mitigate climate change. Our target is to reduce our CO 2 emissions from fuels and purchased electricity by 65% from the 2015 levels and to reduce the emission levels of our supply chain from the 2018 levels by 30% by 2030. We have received approval for our emis- sion reduction target from the Science Based Targets initiative. Our energy portfolio consists mostly of energy sources that do not cause fossil CO 2 emissions. We use energy efficiently and increase the share of renewable and low-emission energy. Reducing energy use and emissions to air on page 88
WE ACT THROUGH PRODUCTS Innovating novel products for the future beyond fossils is the core of our Biofore strategy. We develop renewa- ble and recyclable products, materials and solutions and offer alternatives to fossil-based materials. Many of our products are already proven to be cli- mate positive. In the future, we aim to scientifically verify the climate impacts of all our products. Responsible product lifecycle on page 82
TOWARDS A FUTURE BEYOND FOSSILS Our aspiration is high when we look at the opportunities to respond to the global climate challenge.
Our 2030 responsibility targets on page 22 Our strategy on page 26 Value from responsibility on page 34
Climate change is a major challenge and requires action. The transition to a low-carbon economy is needed to combat the physical impacts of climate change. We were among the first global forest industry companies to sign the UN’s Busi- ness Ambition for 1.5°C. Our commitment is aligned with the Paris climate agree- ment, which aims to keep the average global temperature rise at a level that does not threaten nature or society.
We were able to make this commit- ment thanks to our scenario analysis on forests and emissions, carried out in 2019. We are committed to long-term targets and science-based measures to mitigate global warming. Transparency of perfor- mance and data is important part of our responsibility work. While mitigating climate change and working towards carbon neutrality, we create long term value for UPM.