KONE Corporation, press release, September28, 2020
KONECorporation, a global leader in the elevator and escalatorindustry, has set science-based targets for significant reductionsin its greenhouse gas (GHG) emissions by the year 2030. KONE'stargets are the most ambitious in the industry and have beenvalidated against the latest climate science by the Science BasedTargets initiative (SBTi). In another first for the industry, KONEhas pledged to have carbon neutral operations by 2030.
KONE commits to a 50% cut in the emissions from its own operations(scope 1 and 2 emissions) by 2030, compared to a 2018 baseline.This target is in line with limiting global warming to 1.5°C, whichis currently the most ambitious criteria for setting science-basedtargets. In addition, KONE targets a 40% reduction in the emissionsrelated to its products' materials and lifetime energy use (scope 3emissions) over the same target period, relative to ordersreceived.
"Tackling climate changeis the most important challenge of our time. At KONE, we have a keyrole in making urbanization more sustainable, and we believe thatsustainable business practices are a requirement for long-termsuccess. Together with our customers, partners and suppliers, weare now taking even stronger action and leading the way in ourindustry to create more sustainable urban environments," saidHenrik Ehrnrooth, President and CEO, KONE Corporation.
To reach the 50% GHG emissions reduction in its own operations by2030, KONE will cut its absolute emissions related to its vehiclefleet and facilities. To achieve this, KONE continues with avariety of actions, such as restructuring its vehicle fleetcomposition to incorporate more hybrid and electric vehicles aswell as optimizing vehicle routing for maintenance visits.Additionally, KONE will increase the sourcing of renewableelectricity at its facilities worldwide to 100% in 2030. On top ofthe ambitious emissions reduction targets, KONE will achieve carbonneutral operations by 2030, through offsetting the remainingemissions.
A clear majority of theemissions associated with KONE's activities occur outside itsimmediate operations in the value chain. To achieve itsproduct-related emissions reduction target of 40%, KONE will cutthe emissions from product lifetime energy use and materials byfurther improving the energy efficiency and material circularity ofits products.
KONE is taking strong actions across the whole supply chain. Thecompany is working together with its suppliers to reduce the carbonfootprint from operations and manufacturing, to increase the use ofsustainable materials, and to limit the use of hazardoussubstances. In addition to measuring these impacts, KONE carriesout stringent sustainability maturity assessments with itssuppliers.
Being a leader in sustainability has long been a strategic targetfor KONE. Earlier this year, KONE received three outstandingrecognitions in climate and sustainability performance: a place onCDP's prestigious A List for Climate Change as the only elevatorand escalator company, a position on the same organization's CDP2019 Supplier Engagement Leaderboard, and 32nd place on CorporateKnights' 2020 Global 100 Most Sustainable Corporations in theWorld.
For further information,please contact:
Hanna Rutanen, Director, ExternalCommunications, KONE Corporation, tel. +358 41 507 1361,media@kone.com
Hanna Uusitalo, EnvironmentalDirector, KONE Corporation, tel. +358 50 5333177
Notes toeditors:
The Science Based Targets initiativeidentifies and promotes best practices for companies to setambitious and meaningful, science-based GHG reduction targets, andindependently assesses and approves these targets. Companies' GHGemissions reduction targets are considered "science-based" if theyare in line with what the latest climate science says is necessaryto meet the goals of the Paris Agreement - to limit global warmingto well-below 2°C and pursue efforts to limit warming to 1.5°C. TheScience Based Targets is a joint initiative by CDP, the UnitedNations Global Compact, the World Resources Institute (WRI) andWorld Wildlife Fund (WWF). Around 1,000 companies have committed totaking science-based action and over 450 have validatedtargets.
Readmore:
Full list of companies participating in the ScienceBased Targets initiative
KONE's Sustainability Report 2019(PDF)
Sustainability on our website
Previous press releases are available at https://www.kone.com/en/news-and-insights/releases/including:
February 4, 2020: KONE awarded as Supplier Engagement Leader byCDP
January 22, 2020: KONE recognized for outstanding climate andsustainability performance by both CDP and CorporateKnights
January 23, 2019: KONE ranked among the world's most sustainablecompanies by Corporate Knights
January 23, 2019: KONE recognized for solid climate performance witha CDP 2018 A- score
About KONE
At KONE, our mission is to improve the flow of urban life. As aglobal leader in the elevator and escalator industry, KONE provideselevators, escalators and automatic building doors, as well assolutions for maintenance and modernization to add value tobuildings throughout their life cycle. Through more effectivePeople Flow®, we make people's journeys safe, convenient andreliable, in taller, smarter buildings. In 2019, KONE had annualsales of EUR 10 billion, and at the end of the year approximately60,000 employees. KONE class B shares are listed on the NasdaqHelsinki Ltd. in Finland.
www.kone.com
KONE Science-based targets climate pledge press release