UPM Annual Report 2024

WE ARE UPM

GOVERNANCE

ACCOUNTS AND PERFORMANCE

Report of the Board of Directors

Sustainability Statement

Financial Statements

Auditor's Report

Sustainability Assurance Reports

Template 3 Taxonomy-aligned economic activities (numerator)

AMOUNT AND PROPORTION

AMOUNT AND PROPORTION

CLIMATE CHANGE MITIGATION (CCM)

CLIMATE CHANGE ADAPTATION (CCA)

CCM + CCA

ROW

ECONOMIC ACTIVITIES

CLIMATE CHANGE MITIGATION (CCM)

CLIMATE CHANGE ADAPTATION (CCA)

CCM + CCA

ROW

ECONOMIC ACTIVITIES

AMOUNT

%

AMOUNT

%

AMOUNT

%

AMOUNT

%

AMOUNT

%

AMOUNT

%

1.

4.26. Pre-commercial stages of advanced technologies to produce energy from nuclear processes with minimal waste from the fuel cycle 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 4.29. Electricity generation from fossil gaseous fuels 4.31. Production of heat/cool from fossil gaseous fuels in an efficient district heating and cooling system Amount and proportion of other Taxonomy aligned economic activities not referred to in the rows above in the numerator of the OpEx Total amount and proportion of Taxonomy aligned economic activities in the numerator of the OpEx 4.26. Pre-commercial stages of advanced technologies to produce energy from nuclear processes with minimal waste from the fuel cycle 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 4.29. Electricity generation from fossil gaseous fuels 4.30. High-efficiency co-generation of heat/cool and power from fossil gaseous fuels 4.31. Production of heat/cool from fossil gaseous fuels in an efficient district heating and cooling system Amount and proportion of other Taxonomy-eligible but not Taxonomy aligned economic activities not referred above in the denominator of the Turnover Total amount and proportion of Taxonomy eligible but not Taxonomy-aligned economic activities in the denominator of the Turnover 4.30. High-efficiency co-generation of heat/cool and power from fossil gaseous fuels ECONOMIC ACTIVITIES

1.

4.26. Pre-commercial stages of advanced technologies to produce energy from nuclear processes with minimal waste from the fuel cycle 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 4.29. Electricity generation from fossil gaseous fuels 4.30. High-efficiency co-generation of heat/cool and power from fossil gaseous fuels 4.31. Production of heat/cool from fossil gaseous fuels in an efficient district heating and cooling system Amount and proportion of other Taxonomy-aligned economic activities not referred above in the numerator of turnover Total amount and proportion of Taxonomy aligned economic activities in the numerator of the Turnover

2.

2.

34

48 %

34

48 %

—

— %

121

16 %

121

16 %

—

— %

3.

0

0 %

0

0 %

—

— %

3.

176

23 %

176

23 %

—

— %

4.

4.

5.

5.

6.

6.

7.

7.

37

52 %

37

52 %

—

— %

477

62 %

477

62 %

—

— %

8.

8.

71

100 %

71

100 %

—

— %

774

100 %

774

100 %

—

— %

Template 4 Taxonomy-eligible but not taxonomy-aligned economic activities

AMOUNT AND PROPORTION

AMOUNT AND PROPORTION

CLIMATE CHANGE MITIGATION (CCM)

CLIMATE CHANGE ADAPTATION (CCA)

ROW

ECONOMIC ACTIVITIES

CCM + CCA

CLIMATE CHANGE MITIGATION (CCM)

CLIMATE CHANGE ADAPTATION (CCA)

CCM + CCA

ROW

AMOUNT

%

AMOUNT

%

AMOUNT

%

AMOUNT

%

AMOUNT

%

AMOUNT

%

1.

4.26. Pre-commercial stages of advanced technologies to produce energy from nuclear processes with minimal waste from the fuel cycle 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

1.

2.

2.

3.

3.

4.

4.29. Electricity generation from fossil gaseous fuels

4.

5.

4.30. High-efficiency co-generation of heat/cool and power from fossil gaseous fuels

5.

6.

4.31. Production of heat/cool from fossil gaseous fuels in an efficient district heating and cooling system Amount and proportion of other Taxonomy-aligned economic activities not referred to in the rows above in the numerator of CapEx Total amount and proportion of Taxonomy aligned economic activities in the numerator of the CapEx

6.

7.

7.

324

100 %

324

100 %

—

— %

67

1 %

67

1 %

—

— %

8.

8.

324

100 %

324

100 %

—

— %

67

1 %

67

1 %

—

— %

UPM FINANCIAL REPORT 2024

170

UPM FINANCIAL REPORT 2024

171

170

171

UPM ANNUAL REPORT 2024

UPM ANNUAL REPORT 2024