Sofidel, Stora Enso, UPM and Valmet all scored highly in the recent Carbon Disclosure Project (CDP) Report, as detailed below.
Sofidel further improves its environmental performance in the Carbon Disclosure Report 2018
Sofidel, one of the global leading manufacturers of tissue paper for hygienic and domestic use, has further improved its performance within the CDP Report 2018, a global disclosure system that enables companies, cities, states and regions to measure and manage their environmental impacts. The Group – particularly well-known for its Regina brand – has been awarded an A- rating in the Climate Change category and an A- rating in the Forests Timber category, in both cases earning a place in the highest (Leadership) scoring echelons of the report.
In its sector, Paper & Forestry, Sofidel ranked among the top businesses in the Climate Change category, above the sector average at global (C) and European (B-) level, and among the top businesses in the Forests Timber category, above the sector average at global (B-) and European (B-) level.
CDP, formerly the Carbon Disclosure Project, is an international not-for-profit organisation present in 50 countries providing a global disclosure system that enables companies, cities, states and regions to measure, disclose, manage and share vital environmental information, guaranteeing to investors data that can be used in decision-making processes. CDP serves more than 650 institutional investors with US$ 87 trillion in assets. In 2018, over 7,000 companies across the world disclosed through CDP. For further information, the report can be consulted at this link.
In 2016, the Sofidel Group had already been awarded Best Voluntary Responder Italy by CDP for having obtained the B rating among the businesses that voluntarily participated in the CDP Italy Climate Change Report 2016 programme, disclosing data and performance regarding action against climate change. In 2017, the Group obtained the B rating in the same Climate Change and Forests Timber categories.
The Sofidel Group places strategic importance on sustainability for development and growth, with the clear aim in sight of reducing to a minimum the impact its business has on the environment and of boosting the benefits it produces for society. The final objective is to manufacture products with an ever more reduced ecological footprint and at the same time an increasingly high level of efficiency, which contain ever lower levels of natural capital.
The first Italian manufacturing company and the first tissue paper manufacturer in the world to join the WWF Climate Savers project, to date Sofidel has reduced its direct emissions of CO2 into the atmosphere by 20.6% (carbon intensity reduction, 2009-2017) thanks to investments in energy efficiency, and to the use of cogeneration plants and renewable energy sources. Another fundamental area of action is the sourcing of certified pulp from independent third parties with forest certification schemes (FSC®, FSC Controlled Wood, SFI®, PEFC™) which has now reached 100%.
Stora Enso rated a global leader for climate action by CDP
Stora Enso has been top-rated in combatting global warming by the international non-profit organisation CDP, which works to build a sustainable global economy. CDP has included Stora Enso on its new 2018 Climate A List, which identifies the global companies that are taking leadership in climate action.
“We are proud of this recognition of our long-term work to reduce our emissions,” says Noel Morrin, EVP Sustainability at Stora Enso. “For over a decade we have been actively reducing the energy intensity of our operations and our dependence on fossil fuels. In December 2017, Stora Enso became the first forest products company to set ambitious science-based targets for reducing greenhouse gas emissions throughout our value chain.”
Stora Enso has also signed a Revolving Credit Facility (RCF) loan where part of the pricing is based on the group’s performance in reducing greenhouse gas emissions. This progress is reported in Stora Enso’s annual and interim reports. In addition, Stora Enso has published a Green Bond Framework and asks suppliers about their carbon dioxide emissions in all tenders.
“Ultimately, it is our renewable materials that make a difference,” Morrin says. “They are a key solution to combatting global warming as they store carbon and replace fossil-based materials.”
Paul Simpson, CEO of CDP says: “Congratulations to all companies that made it onto CDP’s A List this year. We need to urgently scale up environmental action at all levels in order to meet the goals of the Paris Agreement and the Sustainable Development Goals. It’s clear that the business world is an essential player in this transition and the A List companies are set to make a substantial contribution to those goals.”
Thousands of companies annually submit climate disclosures to CDP. In 2018, disclosures were requested by 650 investors representing over USD 87 trillion in assets, and over 7 000 companies submitted their climate data.
In addition to the CDP rating, Stora Enso has been top-ranked in both the quality of greenhouse gas management and carbon performance by the Transition Pathway Initiative (TPI). TPI is a global initiative led by asset owners and supported by asset managers and looks into how companies’ carbon performance now and in the future might compare to the international targets and national pledges made as part of the Paris Agreement.
UPM gains valuable sustainability recognitions by Corporate Knights and CDP
UPM has been ranked on the 23rd place in the list of 100 most sustainable corporations by the Corporate Knights, the Canadian-based media and research company. UPM is the only company listed in the Paper and Forest Products category. On the same date the company is also highlighted as a global leader on the CDP Forest A List.
Corporate Knights analysed some 7,500 companies with revenues more than USD 1 billion. The Global 100 Index use determined quantitative sustainability indicators, including carbon productivity (revenue-to-tonne-CO2 ratio), the percentage of taxes paid and board gender diversity, for example. 50 per cent of each company's score measures the percentage of revenues earned from products and services that have environmental or well-defined social benefits.
CDP recognises UPM for its actions to tackle deforestation in its supply chain with global and sustainable sourcing of key commodities linked to deforestation. As an international non-profit organisation CDP drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. In 2018 over 7,000 companies with over 50 per cent of global market capitalisation disclosed environmental data through CDP.
"For UPM, driving top performance is clearly linked to responsible business conduct and innovating sustainable and safe products and solutions for growing global consumer demand. Thanks to our strong position in forest biomass value chain, we see the limitless potential of bioeconomy in replacing fossil-based materials in various applications and industries. To summarise, it is in the core of our Biofore strategy to innovate for a future beyond fossils," Sami Lundgren, Vice President, Responsibility, UPM says.
"The Global 100 companies show that doing what is good for the world can also be good for financial performance," Toby Heaps, CEO of Corporate Knights says.
"As the severity of environmental risks to business becomes ever more apparent, the companies receiving CDP Forest A List are the ones, who are positioning themselves to provide solutions, seize new market opportunities and thrive in the transition to a sustainable economy," Paul Simpson, CEO of CDP highlights.
For full rankings and methodology details, please visit:
Valmet achieves the best rating in CDP's climate program ranking
Valmet has been recognized for its actions and strategy to mitigate climate change by receiving the best A rating in CDP's climate program ranking.
CDP's evaluation is based on the company's 2018 disclosure about its actions in the last reporting year to cut emissions, mitigate climate risks and develop the low-carbon economy.
"It is an honor to receive this acknowledgement for our contribution to climate change mitigation. Valmet's technology and services increase raw material efficiency and enable our customers to manufacture sustainable products from renewable resources. We also have a systematic program to reduce CO2 emissions in our own operations with a focus on sustainable transportation, energy-efficiency improvements and process optimization. We continuously investigate new ways to improve the energy, water and material efficiency of our solutions and to bring new innovations to the market," says Anu Salonsaari-Posti, Senior Vice President, Marketing, Communications and Sustainability at Valmet.
Valmet's mission is to convert renewable resources into sustainable results. Valmet's comprehensive Sustainability360º agenda focuses on five core areas: sustainable supply chain; health, safety and environment; people and performance; sustainable solutions, and corporate citizenship.
In 2018 Valmet was also included in Dow Jones Sustainability Index (DJSI) and Ethibel Sustainability Index (ESI) Excellence Europe.