Valmet’s climate targets approved by the Science Based Targets initiative
In March 2021, Finland-headed forest industry and energy technology provider Valmet Oyj introduced its climate program – Forward to a carbon-neutral future – with carbon dioxide (CO2) emission reduction targets for its entire value chain. Valmet's climate program targets have been approved by the Science Based Targets initiative (SBTi) meaning that Valmet's climate targets support the Paris Climate Agreement’s goal to limit global warming to 1.5°C and are based on the latest climate science.
The Science Based Targets initiative (SBTi) is a collaboration between the United Nations Global Compact (UNGC), World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the Carbon Disclosure Project (CDP), a UK-headed not-for-profit charity that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts
The SBTi defines and promotes best practices in science-based target setting and independently assesses and validates corporate emissions reduction targets against the latest climate science: Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered “science-based” if they are in line with the goals of the Paris Agreement – to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
In its climate program, Valmet is targeting to reduce CO2 emissions from its own operations by 80 percent and 20 percent in its supply chain by 2030. Valmet also targets to enable carbon-neutral production for all its pulp and paper industry customers by 2030 by developing new technologies.
Valmet is also improving the energy efficiency of its current technology offering by 20 percent. The baseline year for the CO2 reduction targets is 2019.