MWC 2024: Nokia ‘doubles down’ on net-zero target to 2040

Nokia has committed to cut its total global greenhouse gas (GHG) emissions to net zero by 2040, fast-tracking its previous target by 10 years.

Prioritising it ahead of wider global goals set by the Paris Agreement, the telecoms giant said it will “double down” its existing near-term, or 2030, target.

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Having already committed to halving its GHG emissions across Scope 1,2 and 3 by 2030 from a 2019 baseline, it today announced it will further accelerate the decarbonisation of its operations.

Nokia President and CEO, Pekka Lundmark, said: “Our new emission reduction targets show that net zero is a business priority for Nokia. We already help our telecoms customers to decarbonise by building sustainable, high-performance networks, and we work with a rapidly growing range of enterprise partners to reduce emissions and improve productivity.

“That journey will only accelerate, as Nokia launches more energy efficient solutions in next-generation mobile, fixed, IP and optical networks and in software, silicon and systems.”

Lundmark added: “By committing to net zero by 2040 we build on our previous climate targets as we look to create technology that helps the world act together.”

Nokia added it has defined a “net-zero pathway” that will help it reduce emissions across its value chain.

These include steps to improve the energy efficiency of its products and solutions, working with its supply chain as it transitions to renewables, and neutralising some residual emissions to reach net zero.

The company also aims to achieve 95% circularity by 2030 in relation to operational waste, such as waste from offices, labs, manufacturing, installation, and product takeback, driving actions to reduce landfilling, it said.

The news comes as Nokia revealed it has lowered its comparable operating margin target to at least 13% by 2026 compared to a previous figure of 14%.

As a result, the company stated it still aims to achieve the previous target, however, due to the current market conditions in its mobile networks business, it was considered wise to make the revision.