Nokia, a global telecommunications company, has set target for net zero by 2050. The company has set ambitious ESG targets to be accomplished by 2030 across various environmental aspects. These include a goal for a 50% reduction in the company's total greenhouse gas (GHG) emissions, covering Scope 1, 2, and 3 emissions. The company also aims to ensure that final assembly suppliers achieve zero emissions, target a 50% reduction in GHG emissions from suppliers, strive for a 73% reduction in GHG emissions related to logistics, and aspire to achieve a 95% circularity rate for waste generated from company offices, labs, manufacturing processes, installation, and product takeback. Additionally, the commitment involves increasing the recycled content in source materials, aiming for 90% recycled content in cast aluminum used in mechanical parts, and targeting 50% recycled content in wrought aluminum, steel, copper alloys, and polycarbonate plastics used in mechanical parts.

Aligning with its goal to achieve a 50% reduction in greenhouse gas emissions across the value chain by 2030, Nokia has reached a significant milestone by issuing a debut EUR 500 million sustainability-linked bond with an eight-year term. In 2022, the emissions associated with the company's Science-Based Target (SBT) totaled 37,627,000 tons of CO2e. These emissions, as projected, exceed its cumulative carbon budget for the period 2020-2022 by 13%, considering an annual linear reduction from the baseline year of 2019. The company accomplished a notable 43% reduction in GHG across Scope 1 and 2, covering facilities, the car fleet, and the marine fleet. This achievement includes a substantial 54% reduction specifically from facilities compared to the baseline year of 2019.

Nokia has taken several steps to reduce its emissions and work towards its net-zero targets. The company has become a founding member of the World Economic Forum's First Movers Coalition, which aims to promote zero-emissions products and services by 2030. Additionally, Nokia has announced a target for 100% renewable electricity by 2025 to power its offices, R&D labs, and factories. These initiatives demonstrate the company's commitment to transitioning to cleaner energy sources.

In summary, Nokia has established net-zero targets and is actively pursuing substantial measures to diminish its carbon emissions. The company is on track to procure 100% renewable electricity by 2025 and actively engages in initiatives that promote zero-emissions products and services. Nokia's dedication to climate action and its active participation in global sustainability endeavors are clearly evident.

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