The strategic role of Sustainability

Sustainability at Konecranes

In an interconnected world, material flows sustain the well-being of people, success of businesses and functions of societies. Konecranes’ customers run these flows every minute, around the world.

Together with customers and business partners, our resourceful people make lifting and material flows more productive and sustainable. We maximize lifecycle value and eliminate waste of resources, energy and time throughout the whole value chain. Konecranes’ knowledge and innovative technologies, solutions and services are the key link in material flows. Our culture is rooted on uncompromised safety, high ethics and diversity and inclusion. We work for a decarbonized and circular world for customers and society.Sustainability cornerstones

Our key sustainability themes are combined into five sustainability cornerstones: eco-optimized offering and circularity; climate action and resource efficiency; safe workplace and products; diverse, inclusive and engaging workplace; and responsible business conduct. The Sustainability cornerstones are the foundation of Konecranes sustainability work. We have set  targets for all focus areas and regularly monitor our performance and progress.

Read more about how we manage our major economic, environmental and social impacts from our Sustainability Report 2021.
 


 

      Our sustainability commitments

      We support our customers in reaching their low-carbon targets with our solutions

      • Accelerating circularity at all levels of operations
      • Reaching Science Based Targets for value chain emissions

      We work to decarbonize our own operations

      • Reaching emission targets for own operations
      • Power our factories with 100% renewable electricity

      We make sure everyone gets to go home safe, every day

      • Uncompromised safety in our operations
      • Solutions that deliver the safest material flow

      We represent the multicultural communities where we operate

      • Diversity, equity and inclusion are embedded in our culture
      • We enjoy our work, feel trusted and valued and are proud to belong to Konecranes

      We are a trusted partner known for our integrity

      • We expect the highest ethical standards of ourselves and our business partners
      • We do business in a direct, clear and ethical manner

      Highlights 2021

      • We set new ambitious Science-Based climate targets for our own operations and for our value chain that are in line with the with the goal of limiting global warming to 1.5°C.
      • We continued to drive our diversity agenda forward by implementing inclusive recruitment practises and establishing four internal employee groups that strive to develop diversity and inclusion.
      • We put special focus on supporting our employees’ mental health and adaptation to new ways of working.

      Sustainability ratings and recognitions

      Konecranes actively and regularly responds to sustainability questionnaires from rating providers such as MSCI ESG, CDP Climate Change, ISS ESG, EcoVadis, Vigeo Eiris, and Sustainalytics. Konecranes’ sustainability work has been recognized with top ratings from distinguished sustainability rating providers. Please find the most recent results from the table below.

      Rating

      Scale (highest to lowest)     

      Score

      Year    

      EcoVadis

      100 to 0

      68 (Gold)

      2022

      CDP Climate change

      A to D-

      B

      2021

      Sustainalytics ESG Risk Rating     

      0 to 100

      24.7 (Medium)    

      2022

      MSCI ESG Rating

      AAA to CCC

      AA (Leader)

      2022

      ISS ESG Rating

      A+ to D-

      C+ (Prime)

      2021

      Ecovadis assessment results

       

      EcoVadis Gold badge 2022 for Konecranes

      In September 2022, Konecranes received a Gold rating from EcoVadis for the second time. The company’s actions, policies and reporting put it in the top 2% of its general-purpose machinery peers, and in the top 7% of all rated companies globally. 

      EcoVadis provides holistic sustainability ratings service of companies. The EcoVadis Rating covers a broad range of non-financial management systems including Environmental, Labor & Human Rights, Ethics and Sustainable Procurement impacts. Each company is rated on the material issues as they pertain to their company's size, location and industry.

      Konecranes keeps EcoVadis Gold rating | Expert Article | Konecranes

      Read more on EcoVadis Sustainability Rating.

      CDP - Climate Change

      CDP logo 

      In 2021, Konecranes has received B rating for its ambitious climate work. The measurement is based on the company's 2020 disclosure about its actions in the last reporting year to cut emissions, mitigate climate risks and develop the low-carbon economy.

      CDP is an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. CDP urges companies and cities to take action in building a truly sustainable economy by measuring their environmental impact.

      Read more on CDP scores.

      Sustainalytics ESG Risk Rating

      Sustainalytics

      In February 2022, Konecranes received an ESG Risk Rating of 24.7 and was assessed by Sustainalytics to be at Medium risk of experiencing material financial impacts from ESG factors. Sustainalytics ESG Risk Rating is categorized across five risk levels, and it analyses company exposure and risk management across industry relevant themes.

      Sustainalytics, a Morningstar company, is a leading independent ESG research, ratings and data firm that supports investors around the world with the development and implementation of responsible investment strategies. Sustainalytics works with hundreds of the world’s leading asset managers and pension funds who incorporate ESG and corporate governance information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider sustainability in policies, practices and capital projects.

      Read more on Sustainalytics ESG Risk ratings.

      Copyright ©2021 Sustainalytics. All rights reserved. This section contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

      MSCI ESG Rating

      MSCI ESG

      In 2022, Konecranes received a rating of AA in the MSCI ESG Ratings assessment.

      MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.
      Read more on MSCI ESG Ratings.

      THE USE BY KONECRANES OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF KONECRANES BY MSCI.  MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.

      ISS ESG Corporate Rating

      ISS ESG

      In 2021, Konecranes received a Prime status (C+ rating) in the ISS ESG Corporate Rating. Konecranes was rated in the best decile among Industrial Machinery & Equipment and it was among the top performers with the C+ rating.

      Prime status is awarded to companies with an ESG performance above the sector-specific Prime threshold, which means that they fulfil ambitious absolute performance requirements.

      ISS performs an ESG rating analysis annually based on publicly available material.  ISS ESG Rating transparently provides useful benchmark assessments with regard to the decile rank within a sector or peer group as well as the top three performers within a sector, absolute score distributions in an industry or peer group and key issue performance compared to the sector average. 

      Read more on ISS ESG Corporate Rating.