To turn these transformations into action, WBA is developing benchmarks including 2,000 assessments of the world’s most influential companies globally, which WBA has identified to be critical in achieving the SDGs. UPM is listed among these companies.
“UPM ranks first among its peers in the paper and forest segment and is among the top overall performers in the 2023 Nature Benchmark. It demonstrates leadership across multiple measurement areas, especially ecosystem and biodiversity, where it scored highest out of all companies assessed. The company also stands out for its performance in the core social indicators. UPM has an opportunity to improve on the governance and strategy, and social inclusion and community impact measurement areas,“ WBA describes in the written feedback of the assessment.
“This rating is one of the examples how companies’ responsibility actions and targets are assessed and recognised. Our ambition level in biodiversity and social responsibility seems to be highly valued by WBA which encourages us to continue on the same path,” Sauli Brander, VP Global Forest Affairs, UPM says.
The World Benchmarking Alliance consults companies during the rating and allows them to provide additional publicly available information. The rating process is interactive, provokes companies to increase transparency and analyse the impact of current procedures and actions.
The WBA was established by Aviva, Index Initiative, and the United Nations Foundation, and is funded by Aviva, the Governments of the Netherlands, the United Kingdom and Denmark. It has published the first Nature Benchmark including paper and forest segment in October 2023. Despite the name of the benchmark, it includes substantial number of social indicators and questions, which are rated with publicly disclosed information and data.