Uponor Corporation Investor news 30 April 2021 9:00 EET
Uponor’s new GHG emission reduction targets approved by the Science Based Targets initiative
Uponor has received an approval from the Science Based Targets initiative to its new greenhouse gas emission reduction targets. The new targets are based on the Paris Climate Agreement and aim to limit the global temperature rise to 1.5°C.
Uponor’s new climate related targets are:
- Reduce absolute scope 1 and 2 GHG emissions by 46% by 2030.
- Reduce absolute scope 3 GHG emissions from purchased goods and services and upstream transportation and distribution by 14% by 2030.
- All purchased electricity to be renewable by 2025.
The baseline for targets is 2019.
Uponor acknowledges that its products also influence indirect use-phase emissions from buildings and infrastructure, mainly in the form of heat losses from heat and water distribution systems to the environment. Reducing these emissions can best be tackled through collaboration across the whole construction value chain. Joint efforts in the design, optimisation, use and maintenance of the built environment play an important role in achieving emission reduction targets. Consequently, Uponor will continue to invest in R&D activities that improve its products’ performance in use, and work together with its stakeholders and value chain to further develop the ways in which its products are installed, integrated, used and maintained in the built environment to enable reduction of indirect use-phase emissions.
“Being climate smart and mitigating emissions is essential for all companies nowadays. By committing to science-based climate targets, we not only want to indicate our ambition level, but we also want to drive our own activities, develop our offering and build our company culture with positive challenges. We want to do our part in safeguarding the planet for future generations,” says Jyri Luomakoski, President and CEO, Uponor Corporation.
Uponor announced on 9 December 2020 that the company commits to UN Global Compact’s Business ambition for 1.5°C initiative in the fight against climate change.
Business Ambition for 1.5°C is an urgent call to action from a global coalition of UN agencies, business and industry leaders. Uponor has been a signatory of UN Global Compact since 2018.
The Science Based Targets initiative defines and promotes best practice in science-based target setting and independently assesses companies’ goals. Science-based targets are emission reduction targets set in line with the latest climate science requirements needed to meet the goals of the Paris Agreement.
Vice President, Communications and Corporate Responsibility
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Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,700 professionals in 26 countries in Europe and North America. In 2020, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com
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