All about zero
Nokia is now set to accelerate both its net zero target for Scopes 1, 2 and 3 and its interim 2030 Scope 1 and 2 targets.
Our SBTi-approved targets are as follows:
- Nokia commits to reach Net-Zero greenhouse gas emissions across the value chain by 2040.
- Nokia commits to reduce absolute scope 1, 2 and 3 GHG emissions by 50% by 2030 from a 2019 base year.
- Nokia commits to reduce absolute scope 1, 2 and 3 GHG emissions by 90% by 2040 from a 2019 base year.
Over and above the SBTi-approved targets, Nokia is announcing an acceleration of its near-term targets to decarbonize Scope 1 and Scope 2 emissions (greenhouse gas emissions from our own facilities and fleet across the world, as well as purchased electricity by 2030 from the same 2019 baseline).
We were the first telecoms vendor to have our Science Based Target (SBT) validated by the SBTi in 2017 and were among the first 100 companies to do so. We recalibrated our targets in 2021 in line with a 1.5°C warming scenario, which means we are publicly committed to reduce our GHG emissions by 50% across our value chain (Scope 1, 2 and 3) by 2030 from a 2019 baseline. This near term 2030 target implied that Nokia would reach net zero by 2050. Subsequently, as part of the EU Commission Green Digital Coalition, we committed to reach net zero by 2040.
With our new announcement we therefore not only reiterate our prior commitment to reach a 50% reduction in our value chain by 2030 from a 2019 baseline, but we are also now accelerating our 2030 scope 1 and 2 targets to reach 90% by 2030 instead of 50%.