Konecranes commits to a long-term climate ambition to complement its recently upgraded near-term science-based targets. The company aims to reduce its absolute Scope 1, 2 and 3 greenhouse gas emissions 90% by 2050 from base year 2019.

The new long-term ambition builds on the company’s current near-term climate targets to reduce absolute greenhouse gas  emissions by 60% from Scope 1 & 2 and 50% from Scope 3 including purchased goods and services and use of sold products by 2030 compared to a base year 2019, validated by Science Based Targets initiative , as well as its carbon-neutral manufacturing* target.

The new long-term target reflects the same absolute GHG emissions reduction ambition as defined by the SBTi Net-Zero Standard and aligns with the pathway to limit global warming to 1.5C under the Paris Agreement.

“We reached our original 2030 target of halving Scope 1 and 2 GHG emissions already in 2022. Last year, we raised the target level for 2030 and focus now on achieving it. This year we reached another milestone by completing the electrification of all product lines. Our electric equipment offering helps customers reduce emissions from their own operations while supporting our company’s future value chain emission reduction potential. Today’s announcement builds on our efforts and long-term commitment towards climate action. We see providing low-emission solutions as a great business opportunity, while supporting our customer industries in their decarbonization efforts,” says Marko Tulokas, President & CEO, Konecranes.

To reach the 2050 ambition, Konecranes will continue reducing emissions across its operations and value chain. The company’s biggest contribution is to provide customers with low-emission solutions, such as electric equipment. Additionally, Konecranes advances the use of lower-emission materials and circular solutions across its offering and continues to decarbonize its own operations. Achieving the ambition will also require broader market transformation like the decarbonization of customer industries, lower-emission steel production and transportation, and cleaner energy systems.

Konecranes believes that the most effective contribution to climate change mitigation is achieved through reducing absolute GHG emissions. Previously, Konecranes had committed to setting a SBTi-validated long-term net-zero target. After the recent launch of the SBTi Net-Zero Standard 2.0, with increased emphasis on neutralization of residual emissions and uncertainty around the future implementation and development of the standard, Konecranes decided not to pursue SBTi validation of its long-term climate target. The company’s long-term climate ambition is aligned with the standard’s requirements on absolute GHG emission reductions but does not include neutralization of residual emissions.