KONE recognized with ‘A’ score for performance on climate change

KONE Corporation, press release, February 6, 2024

KONE Corporation, a global leader in the elevator and escalator industry, has been recognized for leadership in corporate transparency and performance on climate change, by the global environmental non-profit CDP, securing a place on its annual 'A List'.

Based on data reported through CDP's 2023 Climate Change questionnaire, KONE is one of a small number of companies to achieve an 'A' out of over 21,000 companies scored. KONE has disclosed through CDP since 2009 and this is the 11^th consecutive year for KONE to receive a leadership score of A or A-.

"We are honored by our latest CDP A score. Being a leader in sustainability has long been a strategic target for KONE and receiving a leadership score for the 11^th consecutive year underlines our commitment and actions towards our climate pledge. Our environmental approach supports the ongoing green and digital transformation of the built environment into smart eco-cities, low-carbon communities, and net zero energy buildings", says Hanna Uusitalo, Vice President, Environment & Sustainability at KONE.

KONE has set ambitious long-term targets to reduce emissions according to the latest climate science. KONE targets a 40% reduction in the greenhouse gas emissions relative to orders received, related to the materials and lifetime energy use of own products and is committed to a 50% cut in the GHG emissions from own operations by 2030. KONE pledges to have carbon-neutral operations by 2030.

"Our dedication to our commitments is showcased by some of our recent achievements. Last summer, KONE became the first company in the industry to achieve carbon neutral manufacturing units globally, 18 months ahead of schedule. With our best-in-class energy efficient solutions, we have also reached a reduction in product and value chain related GHG emissions", Uusitalo continues. "At the same time, we know there is still a long way to go. Urgent actions are needed, and together with our customers and partners, we continue to innovate solutions to enable low-carbon cities of the future."

Fully TCFD (Task Force on Climate-related Financial Disclosures) aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. In 2023, a record-breaking number of companies disclosed data on environmental impacts, risks and opportunities through CDP's platform.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.

For further information, please contact: 

Hanna Rutanen, Senior Vice President, Communications, KONE Corporation, tel. +358 41 507 1361, media@kone.com

Hanna Uusitalo, Vice President, Environment & Sustainability, KONE Corporation, tel. +358 50 533 3177 

Notes to editors:

About CDP

CDP is a global non-profit that runs the world's environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 740 financial institutions with over $136 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 24,000 organizations around the world disclosed data through CDP in 2023, with more than 23,000 companies - including listed companies worth two thirds global market capitalization - and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow @CDP to find out more.

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2023, KONE had annual sales of EUR 11.0 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

www.kone.com

KONE recognized with A score for performance on climate change