UPM publishes its first Green Bond Report
(UPM, Helsinki, 8 April 2021 at 11:00 EET) – UPM has today published its first Green Bond Report. The report provides details on the use of proceeds as well as the estimated impacts of
the UPM´s EUR 750 million Green Bond issued in November 2020.
The proceeds of the Green Bond were allocated to the following two categories:
1. Sustainable forest management
The category includes the acquisition, maintenance and management of certified forests. The total amount used was EUR 672 million, of which EUR 592 million was allocated to carrying value of forest land and EUR 80 million to sustainable forest management costs.
2. Climate positive products and solutions
The category includes financing the development, operations, maintenance and expansion of the production of climate positive products and solutions. The total amount used was EUR 78 million and it was allocated to R&D costs of biochemicals, biocomposites, biofuels and biomedicals businesses.
“The Green Finance Framework and the Green Bond are an important part of our financing and our Biofore strategy. With this proceed allocation we support the goals of the Paris Agreement and contribute to the UN Sustainable Development Goals important to us,” says UPM´s CFO Tapio Korpeinen.
For further information please contact:
Kenneth Råman, SVP, Treasury and Risk Management, UPM, tel. +358 400 477 287
UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
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We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,000 people worldwide and our annual sales are approximately EUR 8.6 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com
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