Our focus targets
UN SDG Target 8.2 Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors.
Measuring our contribution:
- We aim to have comparable EBIT growth through focused top-line growth and margin expansion. In 2023, our comparable EBIT decreased by 52% to EUR 1,013 million.
- Our aim is to have comparable ROE 10%. In 2023, it was 6.2%.
- Our net debt/EBITDA was 1.55 times in 2023. Our aim is to have it around 2 times or less.
UN SDG Target 8.5 By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
Measuring our contribution:
- We want people to feel that UPM values and promotes diversity, and that people are treated fairly in their work environment and can advance regardless of personal background or characteristics. We aim to have UPM among the top 10% of companies on employees’ sense of belonging by 2030 and target for continuous improvement in the female representation in professional and managerial roles, 40% by 2030. Currently the sense of belonging of UPMers is 12 points below the benchmark of top 10% companies. In 2022, UPM had 32.3% female representation in professional and managerial roles.
- We want employees to perceive good opportunities for learning and development at UPM and secure future employability. Currently, responses to Employee Engagement Survey’s question regarding learning and development were 64% favourable. We aim to have 100% completion rate of goal setting discussions, and development plans created for all employees by 2030. In 2023, 85% of employees had completed individual goal setting or annual discussion, and 81% had a development plan documented.
- We want to ensure fair, equitable and competitive rewarding for all employees. UPM is committed to safeguard that employees’ pay meets at least local living wage by implementing a yearly review and ensure gender pay equity for all employees by implementing a yearly review process to identify and close unexplained pay gaps.
- Our aim is to have employee engagement clearly above benchmark by 2030. Currently, our employee engagement average score is 70. This is 5 points below the global average benchmark.
Read more about our commitment to fair rewarding, enabling performance and engaging people.
UN SDG Target 8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment.
Measuring our contribution:
- Our aim is no fatalities or serious accidents in UPM operations. We had zero fatal accidents and five serious accidents in 2023.
- We aim to have total recordable injury frequency (TRIF) <2 which was 6.1 for UPM workforce and 5.2 including contractors in 2023.
- Currently our absenteeism rate is 4.3% which we aim to have <2% in all organisations by 2030.
- We aim to have process safety development programme implemented at all UPM sites and businesses by 2030. In 2023, trainings for the new UPM process safety standard were carried out and gap analysis at the mills were conducted.
- Our target is to be among top 10% companies on employees’ sense of worklife balance by 2030. In 2023, the average score in the Employee Engagement Survey for these topics was 72. That is below the top 10% benchmark companies by 7 points.
Read more about safety and well-being in our organizational culture and how we are respecting and protecting human rights across our businesses.
Our other contributions to Goal 8
UN SDG Target 8.7 (No child labour and forced labour):
We have zero tolerance to child and forced labour in our operations as well as in the supply chain.
Read more about our commitment to respecting and promoting human rights.
