UPM Annual Report 2022
ACCOUNTS FOR 2022
UPM
BEYOND FOSSILS
BUSINESSES
RESPONSIBILITY
GOVERNANCE
Nuclear and fossil gas related templates Template 1 Nuclear and fossil gas related activities Row Nuclear energy related activities 1.
Template 3 Taxonomy-aligned economic activities (numerator)
Amount and proportion
Climate change mitigation (CCM)
Climate change adaptation (CCA)
Row
Economic activities
CCM + CCA
The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. NO
Amount
%
Amount
%
Amount
%
2.
4.27. Construction and safe operation of new nuclear power plants, for the generation of electricity or heat, including for hydrogen production, using best-available technologies 4.28. Electricity generation from nuclear energy in existing installations Amount and proportion of other taxonomy aligned economic activities not referred to above in the numerator of Turnover Total amount and proportion of taxonomy aligned economic activities in the numerator of the Turnover
2.
The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. YES The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. YES
34
4 %
34
4 %
—
— %
3.
3.
266
30 %
266
30 %
—
— %
7.
597
67 %
597
67 %
—
— %
Fossil gas related activities
8.
4.
The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. NO The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. NO The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. NO
896
100 %
896
100 %
—
— %
5.
6.
Amount and proportion
Climate change mitigation (CCM)
Climate change adaptation (CCA)
Row
Economic activities
CCM + CCA
Template 2 Taxonomy-aligned economic activities (denominator)
Amount
%
Amount
%
Amount
%
3.
4.28. Electricity generation from nuclear energy in existing installations Amount and proportion of other taxonomy aligned economic activities not referred to in rows above in the numerator of OpEx Total amount and proportion of taxonomy aligned economic activities in the numerator of the OpEx
Amount and proportion
41
37 %
41
37 %
—
— %
7.
Climate change mitigation (CCM)
Climate change adaptation (CCA)
Row
Economic activities
CCM + CCA
69
63 %
69
63 %
—
— %
Amount
%
Amount
%
Amount
%
8.
2.
4.27. Construction and safe operation of new nuclear power plants, for the generation of electricity or heat, including for hydrogen production, using best-available technologies 4.28. Electricity generation from nuclear energy in existing installations Amount and proportion of other taxonomy aligned economic activities not referred to in rows above in the denominator of Turnover
109
100 %
109
100 %
—
— %
34
0 %
34
0 %
—
— %
own and leased forests to third party customers (other sources of wood excluded from the eligible turnover), sales of forestry services to private forestry owners, sales of energy generated from hydropower, sales of wood-based renewable diesel and naphtha for transport and petrochemicals, sales of heat and power generated from biomass in combined heat and power plants and revenues from leased vessels. Regarding the power plants, the portion of the fossil fuels has been excluded from the turnover. Apart from the sales of forestry services to private forest owners and revenues from leased vessels, all the UPM’s eligible turnover is also Taxonomy-aligned. CapEx UPM has included in CapEx, as defined in Disclosures Delegated Act, additions to tangible and intangible assets, before any depreciations, impairments, amortisation charges and fair valuations during the financial year, as accounted for in accordance with IAS 16 Property, Plant and Equipment, IAS 38 Intangible assets, IAS 41 Agriculture and IFRS 16 Leases. CapEx corresponds to cash payments to acquire fixed assets in the Consolidated cash flow statement adjusted with amounts accrued but not paid at the end of reporting period, and additions to leased assets. Refer to line items Capital expenditure and Additions to forest assets in Consolidated cash flow statement and Note 5.2. Leases in UPM consolidated financial statements 2022. Taxonomy-eligible CapEx includes purchased and leased land for afforestation, purchased forest land, capitalised forest regeneration costs during the growth cycle, capitalised investments in new
Accounting Policy UPM consolidated financial statements that are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (IFRS as adopted by the EU) and IFRIC Interpretations. UPM has calculated the KPIs using the financial information presented in group consolidated financial statements 2022. The definitions of CapEx and OpEx key performance indicators are based on group interpretation of definitions set out in the Disclosures Delegated Act. Turnover UPM has calculated turnover, as defined in Disclosures Delegated Act, based on the same accounting principles that apply for revenue in IFRS, i.e., covering all amounts derived from the sale of products and services in the course of ordinary activities. Total turnover corresponds to total sales as reported in group consolidated financial statements. Refer to Accounting policy in consolidated financial statements Note 2.2. Sales. Taxonomy-eligible and -aligned turnover include only revenue from sales of products and services generated from activities that are included in the Taxonomy. The majority of UPM´s products and services contributing to the turnover are not included in the EU Taxonomy. In determining the eligible and aligned turnover any specific fragments of production inputs, such as use of sustainable raw material or energy, have not been included in the eligible turnover if the main activity is not included in the Taxonomy. UPM’s Taxonomy-eligible turnover includes sales of wood and wood based biomass such as logs, pulpwood and forest residues from UPM’s
3.
266
2 %
266
2 %
—
— %
7.
597
5 %
597
5 %
— —
— % — %
Total Turnover
8.
11,720
100 % 11,720
100 %
Amount and proportion
Climate change mitigation (CCM)
Climate change adaptation (CCA)
Row
Economic activities
CCM + CCA
Amount
%
Amount
%
Amount
%
3.
4.28. Electricity generation from nuclear energy in existing installations Amount and proportion of other taxonomy aligned economic activities not referred to in rows above in the denominator of OpEx
41
6 %
41
6 %
—
— %
7.
69
11 %
69
11 %
— —
— % — %
Total OpEx
8.
650
100 %
650
100 %
146
147
UPM ANNUAL REPORT 2022
UPM ANNUAL REPORT 2022
UPM FINANCIAL REPORT 2022
146
UPM FINANCIAL REPORT 2022
147
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