We believe the technology we provide enables both environmental and societal benefits to individuals, industries and society.
Our refreshed sustainability approach provides the structure and focus for our activities. At the core of our sustainability approach is the belief that our technology improves people’s lives. It is aligned with our new company purpose. Our focus is built around actions in three core areas where we believe we can have the greatest impact. In turn, these core areas are underpinned by well-managed fundamental responsible business processes, procedures and activities.
We take responsibility for our actions and impact on the world, minimizing potential negative impacts while maximizing the many potential positive impacts of the technology we create and deliver.
Our focus areas where we can have the greatest impact are:
Climate – combatting climate change through mitigation and adaptation solutions will grow in importance
Integrity – emphasizing the importance of respect for ethical behaviour, security and privacy
Culture – ensuring our ability to attract the best talent and creating high performance inclusive teams that make things happen
Our strategic approach to sustainability
Governance and materiality
Our governance model
Sustainability issues are reviewed regularly at all levels of the company. We have built strong governance structures and processes to manage good ethical business practices and corporate responsibility.
Our corporate responsibility strategy and activities align with our most material topics related to our business and the impact on sustainable development.
As part of the review of our sustainability strategic approach, we carried out a deep-dive into our sustainability activities, requirements and achievements with emphasis on impact, scope, focus areas, and targets. The strategic approach is based on a number of factors related to our business and the impact on sustainable development.
- Global macro trends with impact on sustainable development
- Our regular engagement with various stakeholders
- Requirements and information requests especially from our customers and investors
- Our benchmarking of 23 industry peers and the leaders in sustainability
- Our corporate strategy and Code of Conduct
- Assessments of risks and opportunities through Nokia Enterprise Risk Management system
- Analysis of the economic, environmental and social value we can create throughout our value chain. See below.
- Analysis of UN Sustainable Development Goals and Targets and their relevance to Nokia
- International sustainability frameworks such as SASB, TCFD, the Global Reporting Initiative (GRI) G4 and the UN Global Compact
- Our long history and experience in sustainability
Based on the analysis described above, we revised and clarified our materiality, reduced the total number of topics included in our sustainability scope from 20 to 13, adjusted the contents of the topics and assessed their importance to our business success and sustainable development. The image below shows the top right quadrant of our materiality matrix.
Our sustainability report, People & planet, is prepared in accordance with the GRI Standards: Core option. As part of our reporting, we also take into account other sustainability reporting frameworks, such as SASB, the UN Global Compact and the UN Sustainable Development Goals. We have published annual corporate responsibility reports since 1999 and the reports are available in digital format from as far back as 2003 at our report archive. Our index on key ESG frameworks 2020 can be found here.
Our priorities and targets
We set both long and short term public targets and report progress on all of them annually in our People and planet sustainability report.
All five of our short-term targets for 2020 were achieved. Out of the 15 existing long term targets, 6 were achieved in 2020 and 5 were not achieved. In addition, 4 targets were ongoing and on track.
Awards and recognitions
We are proud to have been recognized for the achievements and actions carried out by our employees to enable a more sustainable business, products and planet. A few recognitions are listed below.
Carbon disclosure: In December 2020, we were included in the CDP’s A list for our work to cut emissions, mitigate climate risks and help develop a low-carbon economy. CDP, which runs the world’s leading global disclosure system for environmental impact, gave Nokia the highest ranking. The CDP questionnaire is aligned with the recommendations put forth by the Task Force on Climate-related Financial Disclosure (TCFD). Download our latest CDP Climate response here.
Ethical business: In February 2021 we were named for the fourth consecutive year (2018-2021), and the fifth time overall as one of the World’s Most Ethical Companies by Ethisphere.
World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.
We were awarded the “Best Places to Work for LGBTQ Equality” by the Human Rights Campaign foundation’s 2021 Corporate Equality Index.
We were proud to be awarded the Human Rights Campaign (HRC) Corporate Equality Index score of 100%. The HRC Corporate Equality Index is a US national benchmarking tool on corporate policies and practices pertinent to LGBTQ employees. Read more
Sustainability: In January 2021, FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) again confirmed that Nokia remains a constituent of the FTSE4Good Index Series following the December 2020 index review.
Sustainability: In 2020, we received a rating of AA (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.
The use by Nokia of any MSCI ESG research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Nokia by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
Carbon disclosure in supply chain: In February 2021, we have again been recognized as a global leader for engaging with our suppliers on climate change, being awarded a position on the Supplier Engagement Leaderboard by global environmental impact non-profit CDP.
Digital inclusion: In December 2020 we were happy to see our work recognised as Top 10 in the inaugural World Benchmarking Alliance’s Digital Inclusion Benchmark which measures how the world’s 100 most influential technology companies are helping to advance a more inclusive digital society. Click here to see the rankings.
Sustainability: In October 2020 we were awarded a new Platinum EcoVadis Medal. This places our company among the top 1 percent of companies assessed by EcoVadis, with especially high scores for environment and sustainable procurement.
Sustainability: In May 2020 we were reconfirmed as a constituent of both the Ethibel Sustainability Indices (ESI) for Excellence Europe and Excellence Global for our corporate sustainability efforts.
Sustainability: In April 2020, Nokia received an ESG Risk Rating of 13.2 and was assessed by Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors. Nokia’s ESG Risk Rating places it in the 2nd percentile of the Technology Hardware sub-industry assessed by Sustainalytics.
Other awards and recognitions
Nokia and Elisa were awarded Finland's 'Energy Difference of the Year 2020' recognition with World's first 5G liquid cooled radio base station. Read more
Our liquid-cooled base station won Silver in the international Quality Innovation Award. The Award ceremony took place on 5 February 2020 in Tel Aviv, where the Ambassador of Finland in Israel handed over the certificate to Nokia team.
As of December 2020, the Wall Street Journal included Nokia on its list of the world´s 100 most sustainable companies, placing us 4th on the list. We scored particularly high in the areas of supply chain transparency, diversity & inclusion and efficiency.
Nokia and the United Nations Sustainable Development Goals
The United Nations Sustainable Development Goals (UN SDGs) provide a common framework and set of goals for all countries, all industries, all companies and all individuals to achieve a truly sustainable world. For us, goals 8, 9, and 13 are the most material and provide the areas in which we can have the greatest positive impact.
Beyond these, the work we do actively contributes to all 17 SDGs. More examples can be found here. We believe technology will continue to play a key role in accelerating and achieving all 17 UN Sustainable Development Goals.
Engaging with stakeholders
We believe that collaboration brings greater impact. We work with a broad range of stakeholders including industry partners, engaging with policy makers, international and multi-lateral organizations, civil society and academia, to help drive forward the digital economy and society.
A snapshot of our activities
We have worked with the World Economic Forum, contributing to a number of projects such as the report 5G Outlook Series: Enabling Inclusive Long-term Opportunities published in January 2021. Download the report here. In early 2021 our President and CEO also joined the EDISON alliance, an open-ecosystem of change-makers, coming together to drive the case for digital investment.
Nokia Bell Labs' Distinguished Academic Partners (DAP) Program engages with the top university and academic minds to positively transform human existence.
In South Africa, working with Forge Academy we launched a fully inclusive artificial intelligence laboratory. The academy will provide students with theoretical, laboratory and on-the-job training to prepare them to be able to fully participate in the Fourth Industrial Revolution and the global digital economy.
Our University donations program targets sponsorship of research into topics directly related to our business such as future 6G or Artificial Intelligence and indirectly related topics concerning arenas where digitalisation will play an increasing role. For example we set up a collaboration with the Indian Institute of Science (IISc) to establish a robotics lab that would look at 5G and emerging technologies as a basis for developing use cases with a social relevance.