Elenia is committed to the science-based international SBTi climate target
Elenia and five other Finnish companies aim for the Net Zero target
Elenia is committed to and has been approved for the Science Based Targets initiative (SBTi) climate target Companies taking action - Science Based Targets and is also taking part in the ambitious Net Zero target. So far, SBTi has been joined by more than 2,200 organisations worldwide, 40 of them from Finland. There are 6 companies committed to the Net Zero target in Finland, of which Elenia is one. With its climate objectives, Elenia is now contributing to this target of the strictest level.
“In our sustainability work, we have now adopted the most demanding and ambitious goal on the path towards a carbon-neutral and sustainable society. We want to raise our own operations as well as our partners' climate actions to the most important objectives of our sustainability. Our climate goals guide our work to reduce the overall carbon footprint in our operations, construction and procurement, as well as in service solutions for our customers,” says Tapani Liuhala, CEO of Elenia.
“With our commitment to the 1.5 degree target, we show will and direction in the energy transition that is taking place. In order to reap the full benefits of the growth of solar and wind power for society and people's daily lives, the energy system needs smart grid solutions, and Elenia is an international forerunner in adopting these,” Liuhala continues.
Elenia has set its targets for reducing the greenhouse gas emissions of its own operations in accordance with the Paris Climate Agreement, and the Science Based Targets initiative has accepted Elenia's commitment. Acceptance of the commitment will require Elenia to reduce its greenhouse gas emissions by 42% by 2030, including Elenia's own emissions and those of the energy it procures (Scope 1 and 2). The target set by Elenia itself is even more ambitious in this respect, namely a 75% reduction in emissions compared to 2020.
In addition, Elenia is committed to setting Net Zero targets that cover not only the emissions from Elenia's own operations, but also the emissions from the entire value chain (Scope 1, 2 and 3). The Net Zero targets must be met by 2050 and overall this means a reduction of around 90% in emissions for the entire value chain of the company. The time frame for presenting and adopting these emission reduction targets is two years. For Elenia, this means that, in addition to being part of its own activities, climate targets will become part of procurement decisions.
“This way, we encourage our partners to engage in climate work and to set ambitious climate targets,” says Liuhala.
More information on Elenia’s actions to promote sustainable development is available in the Sustainability Report. Elenia's commitment to the STBi targets will also be included in Elenia's next Sustainability Report for the year 2021, which will be published in spring 2022.
FACTS about the SBTi
• The Science Based Targets initiative (SBTi) is a global science-based climate initiative that directly links companies’ targets of reducing CO2 emissions with the Paris Agreement to keep global temperature increase below 1.5°C.
• The initiative will help companies to set greenhouse gas reduction targets based on the latest climate science and the objectives of the Paris Agreement.
• The SBTi is a joint venture between the CDP (Carbon Disclosure Project), the UN Global Compact, the WRI, (World Resources Institute) and the WWF (World Wide Fund for Nature).
• The SBTi provides a tool for investors and other stakeholders to monitor companies' emission targets.
Elenia's Sustainability scored Excellent in the GRESB Assessment
Elenia's 2021 result in the GRESB sustainability assessment is excellent. Elenia received the full five stars in the assessment and a score of 95 out of 100. A total of 549 infrastructure companies around the world took part in the sixth GRESB Infrastructure Assessment this year. Elenia is ranked 3rd in the Network Utilities Electricity Distribution Companies series and 34th among all participants. According to the evaluation, sustainability and its management are at a high level in Elenia. The company's sustainability objectives have been taken from the corporate level to the personnel level both internally in Elenia and in its partner network.
GRESB, the Global Real Estate Sustainability Benchmark, is an international sustainability benchmark customised for the real estate and infrastructure sector. It evaluates the sustainability of companies and their performance based on ESG indicators, Environmental sustainability, Social responsibility and Governance.