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UPM participates in the Circular Bioeconomy Alliance convened by HRH The Prince of Wales

Press Release 4.6.2020 16:40 EEST

Leading representatives from science, investor community and industry met today with HRH The Prince of Wales to discuss how to accelerate the transition to a circular bioeconomy that is carbon-neutral, renewable and sustainable. The online roundtable kicked off the Circular Bioeconomy Alliance under the Sustainable Markets Initiative of The Prince of Wales.

One of the participating industrial leaders was UPM CEO Jussi Pesonen, who highlighted that replacing fossils with sustainable use of natural and renewable resources is a game changer and the source of growth going forward.

“We support the Circular Bioeconomy Alliance and look forward to discussing how we can best contribute. The forest industry is probably one of the few sectors where a transformation to a world beyond fossils is genuinely possible. Simply put, sustainably managed commercial forestry is the solution”, said Pesonen.

HRH The Prince of Wales’s Sustainable Markets Initiative was launched at the World Economic Forum’s (WEF) annual meeting in Davos in January 2020. Since the COVID crisis, HRH has been working with global leaders and the WEF to determine how his initiative can serve as a catalyst to “Build Back Better”. The work resulted in a ‘Great Reset’ that was launched on 3 June, and its first initiative is todays Circular Bioeconomy Roundtable.

A guiding document for the Circular Bioeconomy Alliance is a 10-Point Action Plan coordinated by the European Forest Institute (EFI). The plan was put together by over 25 authors from across scientific disciplines and considers global, holistic and transformative actions needed to put the world on a sustainable path. EFI will play a key role in the alliance as a provider of knowledge and a networking platform that connects companies, investors, governmental and non-governmental organisations.

UPM, Media Relations
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We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore – Beyond fossils. www.upm.com

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