Nokia Brings Forward Net Zero Target by 10 Years to 2040
By Dominic Chopping
Nokia committed to reducing its total global greenhouse gas emissions to net zero by 2040, accelerating its previous target by 10 years, it said.
The new target also puts it ahead of the Paris Agreement target of net zero by 2050.
The Finnish network gear maker said it will also double down on its existing near-term target. Having already committed to halving its greenhouse gas emissions across Scope 1,2 and 3 by 2030 from a 2019 baseline, it will further accelerate the decarbonization of its own operations, it said Monday.
Scope 1 emissions relate to emissions that a company creates directly, scope 2 to indirect emissions, mostly from purchased electricity, while scope 3 relates to all emissions that the company is indirectly responsible for.
"With today's announcement Nokia reiterates its existing near-term target to reduce its greenhouse gas emissions by 50% across its value chain, accelerates the decarbonization of its own operations as part of its near-term targets by decarbonizing its car fleet and facilities faster than previously planned, and explicitly sets a new long-term target to reach net zero by 2040 by 2040," the company said in statement.
Nokia said the key areas it will focus on to help reduce emissions across its value chain include product design and innovation, low-carbon electricity, energy and material efficiency, and carbon removals.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 26, 2024 02:14 ET (07:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing