OUTOKUMPU OYJ 
Stock exchange release
Outokumpu establishes sustainability criteria for the management incentive plans linked with the updated climate targets
In
To support Outokumpu's continuous improvements in sustainability, Outokumpu's Board of Directors has decided to establish sustainability related criteria for the company's Performance Share Plan (PSP) program. The PSP program's plan period for 2022-2024 will include earning criteria linked to the emission reduction target according to Outokumpu's Science Based Targets initiative (SBTi) commitment.
"Sustainability is tightly linked to our company strategy as it supports our vision of becoming our customers' first choice in sustainable stainless steel. Linking our incentive structures to our sustainability goals is an important step in building robust governance in these matters," says
The performance share plan sets the compensation criteria for each period and a maximum of 150 key employees are included in each period. The PSP is a part of the regular compensation of top executives.
The Science Based Targets initiative approved Outokumpu's updated greenhouse gas emission reduction targets for 2030 in
Outokumpu's new near-term science-based target is to reduce direct and indirect emissions as well as its supply chain emissions (scopes 1, 2, and 3) by 42% per tonne of stainless steel by 2030 from a 2016 base year. The new target marks a further 30% reduction from the 2020 level. The targets cover Outokumpu's value chain from raw materials to own production and delivery.
For more information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669
Media:
Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization's basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs some 9,000 professionals in more than 30 countries, with headquarters in
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