Caverion launches its sustainability targets and actions
Climate change continues to be the biggest threat our earth is facing. Caverion is contributing to a carbon-neutral society through its energy-efficient and sustainable solutions. Today Caverion publishes its sustainability targets, KPIs and actions in line with its strategy and purpose.
Caverion commits to making a difference in sustainability together with its customers in line with its strategy and purpose: enabling performance and people's wellbeing in smart and sustainable built environments. Caverion is extremely well positioned to support its customers' sustainability efforts. The company is continuously improving and expanding its smart technology and digital solution offering to increase its customer value and handprint.
"This year we have deepened our understanding of our sustainability impacts to the society. Our business already meets the Paris Climate Agreement target of limiting global warming to 1.5 degrees Celsius (source: Arabesque), as well as has an aggregate net positive impact (source: Upright project). Caverion has now also decided to apply to be a signatory of the UN Global Compact and is committed to UN Sustainability Development Goals (SDG's). However, we still want to contribute more than this in sustainability and have therefore set our own sustainability targets with clear actions and KPIs," says Ari Lehtoranta, President and CEO of Caverion Corporation.
Buildings account for approximately 40% of EU final energy consumption and 36% of the greenhouse gas emissions, making them the single largest energy consumer in Europe (source: EU). Increasing awareness of sustainability is supported by both EU-driven regulations and national legislation setting higher targets and actions for energy-efficiency and carbon-neutrality. A significant amount of the corona-related economic stimulus packages is also directed towards sustainable investments enabling smart buildings and cities and promoting a sustainable recovery.
Clear sustainability targets and action plan to reach the targets
Caverion commits to the following sustainability targets and KPIs until 2025:
|Environmental||2019 level||Target 2025|
By 2025 Caverion is committing to the target that its positive carbon handprint will be 5 times greater than its carbon footprint. This is what is in sight now, but Caverion is also thinking beyond that. Over the longer term, Caverion's target by 2030 is to create sustainable impact through its solutions, with a positive carbon handprint 10 times greater than its own carbon footprint (Scope 1-2).
The sustainability targets will be reached, among other things, by improving own and customers' energy-efficiency, by increasing the use of renewables in built environments and by managing service and supply chains responsibly. Caverion has defined three focus areas until 2025 which support in reaching the sustainability targets:
Some of the KPIs have been reported as part of Caverion's non-financial disclosure and sustainability reporting. For example, Caverion reports on its emissions annually to the Carbon Disclosure Project (CDP) and its sustainability impacts according to the Global Reporting Initiative (GRI). Other KPIs, such as customers' handprint, are under development and more defined calculation principles will be further introduced during 2021. The company has also taken into account the EU taxonomy requirements applicable to listed companies as of the beginning of 2022. The next goal is to align reporting and targets with the EU taxonomy and the recommendations of The Financial Stability Board Task Force on Climate-related Financial Disclosures (TCFD).
Sustainability morning programme
More detailed information on Caverion's sustainability work will be presented at the Sustainability Morning event today in connection with the Q3 report news conference starting at 10.00 a.m. Finnish time (EET). The Sustainability Morning is expected to start at around 10.45 a.m. Finnish time (EET), immediately following the Q3 news conference. The Sustainability Morning presentation will take approximately 30 minutes, followed by a Q&A session. The event will be held in English. The presenters are President and CEO Ari Lehtoranta and Chief Financial Officer Martti Ala-Härkönen.
The presentation can be followed over a webcast at www.caverion.com/investors. It is also possible to participate in the event through a conference call. Participants are requested to call one of the assigned numbers at least five minutes before the conference call begins, at 9.55 a.m. (EET) at the latest:
+44 (0)330 336 9105
+46 (0)8 5033 6574
Participant code for the conference call is "9790402 / Caverion". During the webcast and conference call, all questions should be presented in English.More detailed information about the Sustainability Morning has been presented in the invitation release on 5 October 2020.