UPM's governance is based on the Articles of Association and the policies and charters listed below. Our decision making, management and operations are guided by our values and the UPM Code of Conduct. Our leading principle is that we do not compromise our standards of integrity under any circumstances.
Policies
| Charter / policy | Approved by | Originally approved | Last amended |
|---|---|---|---|
| Articles of Association | General Meeting of Shareholders | 31 October and 1 November 1995 *) | 29 March 2022 (valid as of 8 April 2022) |
| UPM Code of Conduct | Board of Directors | 31 May 2006 | 26 April 2022 |
| Board Charter | Board of Directors | 31 May 2006 | 1 February 2024 |
| Audit Committee Charter | Board of Directors | 31 May 2006 | 1 February 2024 |
| Remuneration Committee Charter | Board of Directors | 31 May 2006 | 25 May 2023 |
| Nomination and Governance Committee Charter | Board of Directors | 31 May 2006 | 25 May 2023 |
| Disclosure Policy | Board of Directors | 24 July 2008 | 26 May 2016 |
| Remuneration Policy for governing bodies | General Meeting of Shareholders | 31 March 2020 | - |
| Risk Management Policy | Board of Directors | 1 February 2007 | 26 October 2021 |
| Group Treasury Policy | Board of Directors | 1996 | 25 April 2017 |
| Treasury Policy for Subsidiaries and Businesses | Board of Directors | 1996 | 25 April 2017 |
| Insider Policy | Board of Directors | 31 October 2006 | 12 December 2019 |
| Approval Policy | Board of Directors | 5 February 2009 | 23 July 2023 |
| Internal Audit Charter | Audit Committee | 1 February 2010 | |
*) Approved in the general meetings of merging companies Repola Oy and Kymmene Oy.
