Konecranes signs Science Based Targets Initiative (SBTi) commitment to mitigate climate change

Corporate press releases

Konecranes today announced it has signed the commitment letter for the Science Based Targets Initiative (SBTi) and will define new climate targets for its operations in the coming months, reinforcing its commitment to cut emissions, further develop its low-carbon portfolio and mitigate climate risks.

Limiting global warming requires the decarbonization of all industry sectors. By committing to science-based targets, Konecranes is stepping up efforts to reduce its climate impact. The company is already charting the full carbon footprint from its own operations and supply chain as well as from the solutions it provides for its customers.

“At Konecranes we have continually challenged ourselves over the past years to find innovative ways to reduce our carbon footprint, and based on that work we are now ready to reduce our climate impact even further,” said Konecranes President and CEO Rob Smith.

“By committing to the SBTi we are agreeing to establish targets that are science-based and binding, not only for Konecranes but for our supply chain partners and our products. This is a level of ambition that will drive and inspire us as a company,” Smith said.

The SBTi is a global initiative that directly links a company’s carbon emission targets to the Paris Agreement in order to keep the rise in global temperature below 1.5°C. It supports companies in establishing greenhouse gas reduction targets based on the latest climate science and the goals of the Paris Agreement. Konecranes’ new science-based targets that will be set next year will be validated by the SBTi.

Climate action and resource efficiency is one of the five cornerstones of Konecranes’ sustainability work. In addition, we focus on sustainable offering and circularity; a safe workplace and products; a diverse, inclusive and engaging workplace; and responsible business conduct. Earlier this month, Konecranes received recognition for its ambitious climate work, earning an A- rating in the CDP's climate program and a Leadership ranking.

To find out more about our sustainability efforts, please see our latest Sustainability ReportKonecranes’ next Sustainability Report, which will be published in early March 2021, will provide more information on the company’s sustainability strategy and commitments.

Further information:
Mikko Välimaa, VP HSEQ and sustainability
[email protected] or phone: +358 40 515 4413

Further information for investors and analysts:
Kiira Fröberg, Investor Relations, Konecranes
[email protected] or phone: +358 20 427 2050

This press release is available at our website konecranes.com

Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2019, Group sales totaled EUR 3.33 billion. Including MHE-Demag, the Group has around 17,000 employees in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).