Konecranes unveiled a more ambitious science-based goal for cutting emissions from its own operations by 2030, reflecting the clear progress made in decarbonizing its own operations as it seeks to further reduce its total climate impact and that of its customers.

Konecranes reached its initial science-based near-term target for own operations (Scope 1 and 2) already in 2022 thanks to actions taken like using renewable electricity in all its manufacturing locations. The company has now set a more ambitious near-term goal that has been approved by the Science Based Targets initiative (SBTi).

Konecranes’ updated science-based targets to be reached by 2030, and progress to date versus base year 2019 with updated calculations, as follows:

• Target for Konecranes’ own operations (Scope 1 and 2):
  • 60% absolute GHG emission reduction (previous target: 50%)*
  • Current progress (2024): 54%
• Target for value chain emissions (Scope 3):
  • 50% absolute GHG emission reduction from purchased goods and services and the use of sold products (target unchanged)
  • Current progress (2024): 20%

Konecranes’ targets are aligned with the Paris Agreement’s goal of limiting global warming to 1.5C. As part of the SBTi process Konecranes has also updated its value chain emission calculations (Scope 3) with more accurate information, for example related to energy use assumptions for key products, leading to lower total emissions than previously reported.

“Sustainability is embedded into Konecranes’ strategy and processes – it is a core part of who we are as a company. We strongly believe that our ambition to lead the material handling industry in cutting emissions – as seen in our updated targets – and continuing the development of low-carbon offering for customers will create further business opportunities for us,” says Konecranes President and CEO Marko Tulokas.

“Konecranes has made steady progress in reducing its climate impact, and that work has been recognized with the highest possible rankings in leading sustainability assessments like EcoVadis and CDP. Today’s news builds on that effort and underscores our ambition to continue that work,” says Anniina Virta-Toikka, Vice President, Sustainability, Konecranes.

In addition to its science-based target ambitions, Konecranes also has a separate target of achieving carbon neutral own operations by 2030, covering both manufacturing and vehicle fleet emissions. Konecranes has now sharpened this to carbon neutral manufacturing operations given the uneven pace of development in vehicle electrification and the build-out of a charging network. Carbon neutrality means first reducing absolute emissions as much as possible, and then offsetting the unavoidable emissions through the purchase of verified carbon credits, which have an immediate impact by delivering finance to emission reduction projects elsewhere.