Raw: [
Telecommunications and networking technology company Nokia announced today a series of new climate targets, including […]]
Nokia Commits to Net Zero Value Chain Emissions by 2040 – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Companies/ Environment
Nokia Commits to Net Zero Value Chain Emissions by 2040
Mark Segal
February 26, 2024
Telecommunications and networking technology company Nokia announced today a series of new climate targets, including a new commitment to achieve net zero greenhouse gas (GHG) emissions, both in its own operations and across the value chain, by 2040.
The announcement marks a significant acceleration by Nokia of its long-term climate goal, bringing its net zero target forward by ten years from its prior 2050 goal.
In addition to its new 2040 goal, Nokia also announced new commitments to accelerate the decarbonization of its own operations, with a new pledge to complete decarbonization its car fleet and facilities, forming part of its interim goal to reduce its GHG emissions by 50% across Scopes 1, 2, and 3, by 2030.
Scope 3, or value chain, emissions account for the vast majority of Nokia’s carbon footprint, with more than 95% of the company’s emissions resulting from the use of its products. Nokia highlighted some of the levers in its net zero pathway to achieving its climate goals, with a key focus on improving the energy efficiency of its products and solutions.
Additional initiatives and targets being pursued by the company to achieve its climate goals include a commitment to use 100% renewable energy in its facilities by 2025 and working with its supply chain in its transition to renewables, and an ambition to achieve 95% circularity by 2030 in relation to operational waste. The company also said that it is examining credible solutions for carbon removals, noting that permanent carbon removals and storage may be required to neutralize some of its residual emissions in order to reach net zero.
Pekka Lundmark, President and CEO of Nokia, said:
“Our new emission reduction targets show that net zero is a business priority for Nokia. We already help our telecoms customers to decarbonize by building sustainable, high-performance networks, and we work with a rapidly growing range of enterprise partners to reduce emissions and improve productivity. That journey will only accelerate, as Nokia launches more energy efficient solutions in next generation mobile, fixed, IP and optical networks and in software, silicon and systems. By committing to net zero by 2040 we build on our previous climate targets as we look to create technology that helps the world act together.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
Related Posts
Companies /
Business Council of Australia Pushes for 1 Year Delay to Mandatory Climate Reporting
Environment /
Climate Tech Startup Clairity Raises $6.75 Million to Scale Direct Air Capture Carbon Removal Solution
Companies /
Zalando to Remove Misleading Product Sustainability Claims in Deal with EU Commission
‹ Business Council of Australia Pushes for 1 Year Delay to Mandatory Climate Reporting
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
SIX Launches Solution Enabling Banks to Assess Sustainability of Small Businesses in their Loan Books
Verizon Invests $1 Billion Green Bond Proceeds in Renewable Energy Development Projects
AIB Appoints Paul Travers as Managing Director of New Climate Capital Unit
Guest Post: How to Unlock the Full Potential of Corporate Finance for Climate
Government
Business Council of Australia Pushes for 1 Year Delay to Mandatory Climate Reporting
Zalando to Remove Misleading Product Sustainability Claims in Deal with EU Commission
EU Adopts New Law to Protect Consumers Against Misleading Green Claims
EU Lawmakers Agree to Establish Carbon Removal Certification System
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy