UPM engaged with ICCT, ECF and other partners to discuss sustainability requirements of biofuels, policy needs and the opportunities of advanced biofuels for several years. "The Biofrontiers has been extremely useful as it has brought together the ENGOs and the advanced biofuels industry. UPM recognises the need to ensure common understanding on high sustainability requirements. It is crystal clear we need to get high quality advanced biofuels into the market. UPM has been producing renewable diesel from residues since early 2015, and we see how huge the demand is for sustainable, high quality advanced biofuels," says Marko Janhunen, Vice President, Stakeholder Relations in UPM Biorefining. click Read More below for additional detail
As part of a settlement entered into by Verso with two Canadian producers of supercalendered papers, Verso today requested that the U.S. Department of Commerce revoke its order imposing duties on supercalendered papers made by those Canadian producers and imported into the U.S. The SC paper tariffs were intended to offset the impact of Canadian subsidies paid to Canadian producers of SC paper in order to help U.S. producers who were injured by the subsidized imports. However, injurious Canadian SC imports continue to enter the United States even with the tariffs, and imports from other non-U.S. SC producers which are not subject to the tariffs have increased. These factors offset the benefits of the tariffs to Verso. If the Department of Commerce grants Verso’s request to revoke the tariffs, it could provide Verso with a meaningful amount of cash over time, which we will evaluate how to use to best benefit our company and make us an even healthier supplier. However, there is no assurance that the Department of Commerce will grant our request to revoke the tariffs or that such funds will be provided to Verso.
Be assured that we continue to make supercalendered paper at the Duluth Mill. Verso’s decision to settle the trade case is unrelated to any decisions about potential changes to Verso’s production assets at the Duluth Mill or to the types of products we make there.