KALMAR CORPORATION, PRESS RELEASE, 1 NOVEMBER 2024 AT 9:30 (EET)
Kalmar has set CO2 emission reduction targets
Kalmar has set near- and long-term emission reduction targets, supporting its long-term strategy and vision to be the forerunner in sustainable material handling equipment and services. The near-term target is to reduce scope 1 and 2 emissions by at least 90% and scope 3 emissions by at least 40% by 2030, with 2023 as the baseline year. The long-term target is to achieve net zero by 2045 in all scopes. With these targets, Kalmar aims to contribute to limiting the global temperature rise to 1.5°C.
The Science Based Targets initiative (SBTi) has acknowledged Kalmar’s commitment. The targets are still pending approval from the SBTi. Science-based targets provide companies with a clearly-defined path to reduce emissions in line with the Paris Agreement goals. More than 6,000 organisations around the world are already working with SBTi.
Scope 1 includes direct emissions from sources owned or controlled by a company, such as fuel for vehicles. Scope 2 includes indirect emissions from purchased electricity, steam, heat, and cooling used by a company. Scope 3 includes all other emissions associated with a company's activities in the entire value chain, for example upstream emissions from purchased goods and services and downstream emissions from the product use phase.
There are four main ways in which Kalmar aims to achieve its ambitious climate targets. Firstly, Kalmar will continue investing in sustainable innovations including further expanding its portfolio of low and zero-emission equipment in line with its strategy. This is crucial, as the use of Kalmar’s products accounts for the biggest share of its value-chain emissions. Secondly, Kalmar will continue to work hand in hand with its customers to find optimal solutions to their sustainability challenges. Thirdly, the company will collaborate with its suppliers to identify innovative new materials and components that will reduce the climate impact of its products. Lastly, Kalmar will identify and implement actions to achieve 90% reduction in its own operations.
Sami Niiranen, President and CEO, Kalmar: "Our commitment to setting emission reduction targets in line with Science Based Targets initiative is a concrete step toward achieving our vision. By aligning with the latest climate science, we ensure that we are driving the transformation towards sustainable material handling in our industry while laying the foundation for sustainable and profitable growth of our business.”
Further information for the press:
Päivi Koivisto, VP Sustainability, Kalmar, tel. +358 40 743 0306, paivi.koivisto@kalmarglobal.com
Carina Geber-Teir, SVP, IR, Marketing & Communications, tel. +358 40 502 4697
Kalmar (Nasdaq Helsinki: KALMAR) is moving goods in critical supply chains around the world, with a vision to be the forerunner in sustainable material handling equipment and services. The company offers a wide range of industry shaping heavy material handling equipment and services to ports and terminals, distribution centres, manufacturing and heavy logistics. Headquartered in Helsinki, Finland, Kalmar operates globally in over 120 countries and employs approximately 5,200 people. In 2023, the company's sales totalled approximately EUR 2.0 billion. www.kalmarglobal.com
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