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UPM is one of the first companies to link the pricing mechanism of a syndicated revolving credit facility (RCF) to both biodiversity and climate targets. The margin of the RCF is tied to two key performance indicators (KPIs): • achievement of a net positive impact on biodiversity in the company’s own forests in Finland • a 65% reduction of CO2 emissions from fuels and purchased electricity by 2030 from 2015 levels, in line with UPM’s commitment to UN Business Ambition for 1.5°C. “Connecting UPM’s sustainability performance to our financing demonstrates the importance of responsible business practises to our long-term value creation. Sustainable forest management plays an important role in mitigating climate change, as it ensures material long-term CO2 sequestration and improves adaptation to global warming. Enhancing biodiversity is not only about preserving forests, but is also a crucial element in sustainable industrial use, taking into account a wide range of flora and fauna. UPM is committed to achieving a net positive impact on biodiversity and we have developed indicators and methods to monitor it,” says Tapio Korpeinen, CFO, UPM.
Auditors from around Southeast Asia are invited to join our Chain of Custody auditor training session, with a special focus on the Due Diligence System (DDS) for sourcing from smallholders. The training takes place in Yangon, Myanmar, 2-3 May, with an optional field trip and demonstration audit on 4 May. Sign up now! The training costs USD350/person for all three days (including field trip). This includes lunch and training material. The training will be in English. You will receive a certificate of attendance after successful completion of the course. Register for the training! Registration deadline is 25 April 2019. Click Read More below for additional detail.
November 27th, the European Parliament approved the revised text of the Packaging and Packaging Waste Regulation (PPWR). It means that the legislative process for the new regulation is soon finalised. What remains is the approval by the Council and then publication in the EU Official Journal by the European Commission. Since the European Parliament in April approved the provisional agreement made with the Council, the text has been on a legal and linguistic revision. One important change in the revision concerns the general obligations for re-use of transport packaging in Article 29 paragraph 1. It has now been clarified that the requirement applies in total and not for each of the listed packaging formats. The obligation on economic operators using transport packaging, or sales packaging used for transportation is that at least 40% in total of the listed packaging types must be reusable within a re-use system from 1 January 2030,.