UPM takes next step towards 65% CO2 emission reduction goal by 2030
UPM has signed a long-term Wind Power Purchase agreement with German wind park development company wpd. The use of renewable wind power for UPM’s paper mills will help reduce CO2 emissions by 200,000 tonnes annually as of 2022, representing 5% of UPM’s total CO2 emissions. For UPM, this is an important step towards achieving the company’s ambitious 65% CO2 emission reduction target by 2030. UPM Communication Papers, the world-leading manufacturer of graphic papers, has committed to purchasing the majority share of the annual electricity production of a wind project build by wpd, totaling approximately 4 TWh over the duration of the contract. The wind project will be built in Finland and is planned to run for 25-30 years. The contract will support the long-term competitiveness of UPM Communication Papers by providing renewable electricity at competitive prices.