GHG Emissions, Industrial  -  November 12, 2024

Konecranes Expands Emissions Reduction Goals

Konecranes, a Finnish material handling solutions company, announced it will set net-zero group emission reduction targets in line with the Science Based Targets initiative (SBTi).

The goals will complement its existing near-term target of halving emissions from its own operations as well as its value chain by 2030.

Konecranes took significant steps in decarbonizing both its own operations and its value chain. Its near-term climate targets were already approved by SBTi in 2022 to be as follows:

• 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 toward meeting these targets, hitting its Scope 1 and 2 targets in 2022 and cutting Scope 3 emissions  by 19% at the end of 2023.

The company's 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,” says Konecranes President and CEO Anders Svensson in a statement.