UPM Annual Report 2022

BEYOND FOSSILS

UPM

BUSINESSES

RESPONSIBILITY

GOVERNANCE

ACCOUNTS FOR 2022

WHAT THE WORLD NEEDS With higher living standards and an ageing population, a growing number of urban, middle-class people are consuming more over a longer period of time. At the same time, the world is still highly dependent on fossil raw materials and energy sources that cause climate change. Consumers, businesses and regulators alike are seeking solutions that allow a more sustainable, modern way of life. Our offering meets these challenges and opportunities today and also in the future.

INNOVATIVE PRODUCTS FOR A BETTER FUTURE

OUR SOLUTION: REPLACING FOSSIL MATERIALS • Materials for various consumer products like textiles, PET bottles, packaging, cosmetics and pharmaceuticals Customers and consumers need alternatives to fossil-based products to make sustainable choices. Societies need a wide range of solutions to switch to renewable raw materials and energy and reduce reliance on the fossil-based economy.

WHY IS A LOW-CARBON ECONOMY NEEDED? The world's population is now more than three times larger than it was in the mid-twentieth century. As populations, economies and standards of living grow, so does the cumulative level of green house gas emissions. Limiting global warming to 1.5°C requires the rapid transition to a low-carbon economy. 8bn Global population in November 2022 4-6 Expected investments required in the global transition to a low-carbon economy, USD trillion a year

• Replacing fossil-based plastics • Renewable construction materials • Carbon-storing buildings

A SUSTAINABLE AND HEALTHY LIFE

ENERGY TRANSFORMATION

OUR SOLUTION: SUSTAINABLE PRODUCTS FOR DAILY NEEDS • Fibres for hygiene and tissue products • Safe food packaging materials • Information labelling and sustainable packaging for e-commerce • Papers for communication • Personalised medicine Health and wellbeing depends, to a large extent, on safe hygiene products, both in personal care and medical use. Consumers need sustainable packaging and reliable information every day.

The global energy sector accounts for over 70% of all greenhouse gas emissions. The transition to a low-carbon economy requires energy sources to be fossil-free as soon as possible.

OUR SOLUTION: LOW-EMISSION ENERGY AND FUELS • CO 2 -free electricity • Renewable energy • Reliable and adjustable energy • Decarbonising traffic

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UPM ANNUAL REPORT 2022

UPM ANNUAL REPORT 2022