Nokia listed as Industry leader in the Communications Equipment sector in the Dow Jones Sustainability Indices and awarded gold rating by EcoVadis
Another year of our extended sustainability team’s hard work and driving improvements has gone by and I am happy to see the work again receive recognition through our listing as Industry leader in the Communications Equipment (CMT) sector of the Dow Jones Sustainability Indices (DJSI). We are once again listed in both the World and European DJSI indices. Nokia is ranked in the top 10% of the 2,500 largest companies that lead in sustainability. On top of this we just received the added news that we were again awarded gold rating by EcoVadis, with an improved score of 88/100. It’s the icing on the cake.
I’m not surprised by these achievements, as I know they haven’t happened by accident. But I am really, really proud. Proud of all my colleagues who are working hard every day not only in the interests of Nokia and its shareholders, but also in the interest of our planet and its people.
The DJSI provides an external bellweather of how we are doing in our ongoing journey to sustainability leadership, in our efforts to be the best we can, and drive us to continuous improvement. But where did we do well and where do we need to do more? This blog is about celebrating our successes and the work of our people, but you can be sure I will come back to what needs to be better in the weeks to come.
We improved our performance on ten out of 23 criteria and we were ranked above the average score of DJSI members in all of the criteria, covering economic, environmental and social dimensions.
In EcoVadis, our improved score of 88/100 and gold rating recognition again are a further external testament to the value and effort our people put into our sustainability activites. EcoVadis is an important sustainability rating requested by a number of our key customers as it assesses the work we do in four key dimensions: environment, labour practices, fair business practices, and sustainable procurement.
Looking at these two acheivements, I would like to concentrate on the environmental dimension and our role in the fight against climate change. We know that even if the world was able to cut the CO2 emissions to zero today, we would still need to tackle the consequences of climate change for years and decades to come. We will need to do everything we can to stop it from advancing, while at the same time help solve the problems it has already caused and is continuing to cause. Technology needs to be part of the solution in both dimensions; proactive and reactive. For that, we need firm targets.
Science Based Targets in place
I am particularly proud of our perfect score of 100/100 for Climate Strategy. We recognize the importance of our own actions, but we also know that the biggest impact comes from the use phase of telecommunications infrastructure. For a typical urban base station site in Europe, the use phase accounts for over 84% of its global warming potential. Therefore, we have set Science Based Targets (SBTs) for the longterm up to 2030 for both our own operations and our products in use by our customers. The targets have been approved by the Science Based Target Initiative. Taking a holistic view of the networks together with our customers is the key to optimizing their operations to provide the best service with the lightest carbon footprint possible.
We have the skills, expertise and innovation to enable the transition to a low carbon economy, and we want to ensure the actions we take are aligned with current climate science. Company targets to reduce greenhouse gas (GHG) emissions are considered “science-based” if they are in line with the level of decarbonization required to keep global temperature increase below 2 degrees Celsius compared to pre-industrial temperatures. We will track our SBT progress on an annual basis.
To complete the picture, while we have SBTs for our own operations and for the use of our products by our customers, we are also interested in how our suppliers contribute to the fight against climate change. We expect them to disclose their climate performance information, and increasingly they are setting ambitious targets for themselves as well. In 2016, the total saving from our suppliers’ carbon reduction initiatives was 10 million metric tons of CO2 equivalents and around USD 938 million.
Great results, but the work is certainly not done. There is no time to rest on our laurels, and the DJSI results provide us a new spur to improve further. We can and will push ourselves for more transparency, improved supply chain management and greater collaboration with customers and other stakeholders to make a greater impact. Why? Because we create the technology to connect the world – and we do so in a responsible way.
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