Further ambitious emissions reductions from Konecranes

Konecranes will set net-zero group emission reduction targets in line with the Science Based Targets initiative (SBTi) Net-Zero Standard, complementing its existing near-term target of halving emissions from its own operations as well as its value chain by 2030.

Konecranes aims to be the world leader in material handling solutions creating value for everyone and has taken significant steps in decarbonizing both its own operations and its value chain. Its near-term climate targets were already approved by SBTi in 2022:

• Halving absolute Scope 1 and 2 GHG emissions by 2030, using 2019 as the base year.
• Halving Scope 3 emissions from purchased goods and services, and the use of sold products, by 2030, also using 2019 as the base year.

Konecranes has made steady progress towards meeting these targets, hitting the Scope 1 and 2 targets already in 2022, and with Scope 3 emissions cut by 19% at end-2023.

Today’s announcement builds on this effort and ambition. The long-term target of reaching net-zero emissions will be developed and submitted to SBTi for approval latest during the next 24 months, a process that is in line with the science-based targets standard.

“To date, many capital goods companies have set science-based near-term targets, but far fewer have taken the next step of making a long-term commitment. By committing to setting the long-term target of net-zero emissions before 2050, we are underlining our commitment to be a leader in our climate work, and part of the solution for the climate crisis. Major transformation is required throughout all industries to reach net-zero,” said Konecranes president and CEO Anders Svensson.

Anniina Virta-Toikka, vice president, of Sustainability at Konecranes, said, “So far, Konecranes has progressed well on its decarbonization journey – reaching the near-term Scope 1 and 2 science-based target eight years ahead of schedule shows that we are on the right path. We’re ready to challenge ourselves again and, given our Scope 3 commitment, also are challenging our customers and suppliers to do the same.”

Konecranes has distilled the material aspects of its operations into four commitments for sustainability: it enables a decarbonized and circular world; it delivers safe and secure material handling solutions; it creates a fair, inclusive, diverse and engaging working environment; and it expects the highest ethical standards of itself and its business partners. The company has set ambitious targets for all four areas, and regularly monitors and reports its progress towards meeting those commitments.