Nokia Commits to Net Zero Value Chain Emissions by 2040

Telecommunications and networking technology company Nokia announced today a series of new climate targets, including a new commitment to achieve net zero greenhouse gas (GHG) emissions, both in its own operations and across the value chain, by 2040.

The announcement marks a significant acceleration by Nokia of its long-term climate goal, bringing its net zero target forward by ten years from its prior 2050 goal.

In addition to its new 2040 goal, Nokia also announced new commitments to accelerate the decarbonization of its own operations, with a new pledge to complete decarbonization its car fleet and facilities, forming part of its interim goal to reduce its GHG emissions by 50% across Scopes 1, 2, and 3, by 2030.

Scope 3, or value chain, emissions account for the vast majority of Nokia’s carbon footprint, with more than 95% of the company’s emissions resulting from the use of its products. Nokia highlighted some of the levers in its net zero pathway to achieving its climate goals, with a key focus on improving the energy efficiency of its products and solutions.

Additional initiatives and targets being pursued by the company to achieve its climate goals include a commitment to use 100% renewable energy in its facilities by 2025 and working with its supply chain in its transition to renewables, and an ambition to achieve 95% circularity by 2030 in relation to operational waste. The company also said that it is examining credible solutions for carbon removals, noting that permanent carbon removals and storage may be required to neutralize some of its residual emissions in order to reach net zero.

Pekka Lundmark, President and CEO of Nokia, said:

“Our new emission reduction targets show that net zero is a business priority for Nokia. We already help our telecoms customers to decarbonize by building sustainable, high-performance networks, and we work with a rapidly growing range of enterprise partners to reduce emissions and improve productivity. That journey will only accelerate, as Nokia launches more energy efficient solutions in next generation mobile, fixed, IP and optical networks and in software, silicon and systems. By committing to net zero by 2040 we build on our previous climate targets as we look to create technology that helps the world act together.”