Clear climate goals
The Group is committed to supporting the EU's climate neutrality target for 2050 and the Paris Agreement to limit global warming to 1.5°C. In 2024, the Group's short-term greenhouse gas reduction targets were approved by the Science Based Targets initiative (SBTi).
The Group commits to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 42 percent, absolute Scope 3 greenhouse gas emissions from the use of products sold for fossil fuels sold by 42 percent and all other absolute Scope 3 greenhouse gas emissions by 42 percent by 2030 from the base year 2023.
Climate transition plan
To ensure progress towards these goals, division-specific climate transition plans were developed in 2025. The plans contain activities and measures to reduce carbon dioxide emissions and are aggregated into a group-wide climate transition plan with the following main activities:
- Scope 1 & 2:T ransition to carbon-free energy across the entire Group's operations
- Scope 3 (upstream): Work with suppliers to reduce Scope 3 emissions from materials, services and subcontractors in the supply chain
- Scope 3 (downstream): Work with customers to reduce Scope 3 Category 11 emissions from installed energy-using technology
However, to achieve the Group's goal of reducing greenhouse gas emissions, the energy market must transition to carbon-free sources so that the increased demand for electricity can be decoupled from greenhouse gas emissions. The Group's transition plan assumes that the countries where operations are conducted will achieve nationally defined climate targets and is particularly dependent on the Nordic countries' ability to achieve completely carbon-free electricity production by 2030.
The climate transition plans, including targets and necessary investments, was approved by Group Management and the Board of Directors in December 2025. Progress towards the goals and the transformation plan is described in the Group's sustainability report (section E1-5).