Governance guidelines


UPM’s decision making, management and operations are guided by the company values and the UPM Code of Conduct. The company values and the UPM Code of Conduct form the framework for all company operations and set out standards of behaviour for all UPM employees including directors and executives without exception. Legal compliance and responsible and ethical practices are the foundation of all of UPM's businesses.


The company follows, among others, the Finnish Limited Liability Companies Act and other laws and regulations applicable to publicly listed companies in Finland, the company's Articles of Association, Board and committee charters, corporate policies and guidelines, as well as rules and guidelines issued by the European Securities and Markets Authority, the Finnish Financial Supervisory Authority and the Nasdaq Helsinki exchange.

UPM also complies with all recommendations of the Finnish Corporate Governance Code for listed companies which is publicly available on the Finnish Securities Market Association’s website