UPM Annual Report 2023

RESPONSIBILITY

UPM

BEYOND FOSSILS

BUSINESSES

GOVERNANCE

ACCOUNTS FOR 2023

OUR RESPONSIBLE WAY OF OPERATING CREATING VALUE FOR PEOPLE AND SOCIETY Active dialogue with stakeholders 60 Engaging employees 64 Diverse and inclusive working culture 68 Safety first 70 Advancing human rights across our businesses 72 Committed to compliance 74 Ensuring a responsible supply chain 78 Contributing to society through taxes 80

Responsibility is at the core of everything we do. We have ambitious, science based sustainability targets and we take concrete steps to achieve them. WHAT TRANSFORMING MEANS

www.upm.com/responsibility

ACTIONS FOR ENVIRONMENT Climate-positive forestry

82 84 86 88 92 94 98

Enhancing biodiversity

Committed to climate actions Towards fossil-free energy Responsible water management Advancing a circular bioeconomy Sustainable product lifecycle

OUR SOCIETAL AND ENVIRONMENTAL IMPACTS

100

58

59

UPM ANNUAL REPORT 2023

UPM ANNUAL REPORT 2023