We act through forests
Forests and forest biodiversity are critical for mitigating the effects of climate change. We ensure that our forests continue to act as carbon sinks, remain resilient and diverse in changing climate conditions, and grow well for future generations. In 2024, the annual carbon sink from own forests in Finland and in the US and own and leased plantations in Uruguay has averaged 2.1 million tonnes of CO2 equivalent over the past five years. There is ongoing work to harmonise methodologies and make calculations more accurate. We aim to constantly improve our understanding of carbon. In 2022 we started a project with the Natural Resources Institute Finland (Luke) to improve the soil carbon models for Uruguay with actual measurements on the ground. Field measurements in eucalyptus plantations began in 2023 and will continue for one year. An improved model for carbon calculations were used in our 2024 carbon accounting.
We act though emission reductions
On Group level we calculate and monitor the greenhouse gas emissions generated by our businesses – either directly or indirectly. To calculate these emissions we apply the widely-known Principles of the Greenhouse Gas Protocol which categorises emissions into three Scopes based on where in the value chain they originate.
- Scope 1 emissions are directly linked to our own activities: Energy generation at our sites and facilities by burning fossil fuels, such as natural gas.
- Scope 2 emissions relate to electricity and heat that we buy from energy providers. The emissions are related to our energy usage, but generated elsewhere, eg. at power plants of our energy providers.
- Scope 3 emissions are all other indirect emissions caused by our business but generated elsewhere. For example, the emissions related to producing rawmaterials for our production. The accuracy of Scope 3 emission data varies. Also, the level we can influence on them varies, and therefore the ways to manage the data varies case by case. However, our aim is to manage the most relevant Scope 3 data in a reliable and transparent way and have established a -30by30 programme to ensure that we will reach our -30% Scope 3 emission reduction target related to materials and logistics by 2030. Read more about this programme here: Emissions | UPM.COM
We act through products
Our wood-based products and our CO2 free energy can replace fossil-based alternatives. At the same time wood-based products store carbon during their lifecycle.
We calculate the temporary carbon storage and the substitution effects of our wood-based products based on a scientific report “Fossil carbon emission substitution and carbon storage effects of wood-based products” published in early 2022 by The Finnish Environment Institute (SYKE) and the German Institut für Energie- und Umweltforschung Heidelberg (IFEU).
In addition, we report the substitution effects originated from replacing fossil-based energy. These are calculated based on our sales of CO2 free energy in Finland and its Guarantees of Origin.
