UPM Annual Report 2020

OUR RESPONSIBLE WAY OF OPERATING

CREATING VALUE WITH PEOPLE Active stakeholder engagement 66 Enabling people growth 70 Strengthening safety culture 74 Compliance underpins performance 76 RESPONSIBILITY THROUGHOUT THE VALUE CHAIN Responsible sourcing 80 Responsibility across product lifecycle 82 Generating tax revenue 84

Due to the shift in our eating habits and evolving lifestyles, the demand for packaged foods is growing rapidly, especially in Asia. The market is expected to grow at an annual rate of 6.5% to nearly USD 5 trillion in 2027. For consumers, easy-to-use, efficiency, flexibility and sustainability are becoming a priority. The plastic challenge and carbon footprint would be decreased if packaging materials were efficiently recycled and more renewable materials were used. SHOPPING FROM THE MARKET

ACTIONS FOR ENVIRONMENT

Sustainable forestry

86

Reducing energy use and emissions to air Responsible water use

Source: Fortune Business Insights

88 92 94

Circular economy and resource efficiency

SUMMARY OF OUR SOCIETAL AND ENVIRONMENTAL IMPACTS

Our societal and environmental impacts

96

64

65

UPM ANNUAL REPORT 2020

UPM ANNUAL REPORT 2020