Pearson, the world’s learning company, today publishes its 2018 Sustainability Report, demonstrating ongoing progress in integrating social and environmental issues across the business and advancing equity in education. A key element of Pearson’s business strategy is to help improve employability prospects through providing products and services that drive better learning outcomes. As sustainability is increasingly integrated into Pearson’s core business, employability for underserved groups and supporting sustainability skills are becoming areas of focus. An example of this in practice in 2018 is our work with 225 US institutions, including community colleges, who used Pearson’s GED College Ready score level to help their students progress to the next level of their education, sometimes without placement tests or developmental courses. This is significant because it reduces barriers for students without a high school diploma to gain access to the next level of education, saves time by demonstrating mastery of certain topics, and improves their future employability prospects. To read Pearson’s full 2018 Sustainability Report and learn about its 2020 Sustainability Plan, visit http://www.pearson.com/sustainability.
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:
- 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.
- 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.
UPM’s Green Bond 2020 Report can be found at: https://www.upm.com/siteassets/asset/investors/debt/upm_green_bond_report_2020.pdf