Commercial, Energy Efficiency, GHG Emissions - February 8, 2023
Nokia Sets 50% GHG Reduction Goal by 2030
Nokia, the mobile company, announced its commitment to reduce its GHG emissions by 50% between 2019 and 2030 across its value chain.
This target has been accepted by the Science Based Targets initiative (SBTi) and is aligned with the 1.5°C global warming scenario, and has been selected to be the Sustainability Performance Target in Nokia’s Sustainable Finance Framework that enables the issuance of sustainability-linked financing instruments.
The company believes its strategy of focusing on this single objective will aid efforts to systematically track its GHG emissions reduction across Scope 1, 2 and 3 emissions.
“Complementing our enhanced ESG strategy with the Framework is a logical next step in our progress to strengthen the connection between our ESG and financing strategies,” Marco Wirén, Chief Financial Officer of Nokia, said in a statement. “We linked the margin of our EUR 1.5 billion revolving credit facility to our sustainability targets already in 2019 and signed our first sustainability-linked guarantee facility in 2022. As we accelerate our growth, we remain deeply committed to be part of the solution to the world's biggest challenges.”
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