Nokia launches Sustainable Finance Framework | MarketScreener

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Nokia launches Sustainable Finance Framework

• Combining the ability of economic devices and sustainability underscores dedication to environmental, social and governance (ESG) technique.
• Framework reinforces goal commitments by way of present or future initiatives and innovation.
• Use of independently assessed local weather goal as efficiency measure emphasizes significance of sustainability to firm’s future enterprise.

8 February 2023

Espoo, Finland – Nokia at the moment introduced its Sustainable Finance Framework that locations sustainability as core to future stakeholder worth and central to its enterprise outcomes. The framework reinforces Nokia’s dedication to sustainable development by making certain its financing technique assists the corporate’s not too long ago enhanced ESG technique.

Nokia’s ESG technique emphasizes that objective and revenue go hand in hand. The ESG technique is constructed round 5 pillars the place the corporate can have vital materials affect. Nokia believes linking the ESG technique to the Sustainable Finance Framework permits it to embed sustainability all through the group whereas creating long-term worth for stakeholders, each inner and exterior.

Nokia understands its accountability to decouple the continual development in knowledge site visitors from equal development in vitality consumption, and to cut back greenhouse gasoline (GHG) emissions throughout the worth chain, from personal operations to produce chain and clients.

Amongst Nokia’s central ESG aims is its dedication to cut back its GHG emissions by 50% between 2019 and 2030 throughout its worth chain. This goal has been accepted by the Science Primarily based Targets initiative (SBTi) and is aligned with the 1.5°C world warming situation, and has been chosen to be the Sustainability Efficiency Goal in Nokia’s Sustainable Finance Framework that permits the issuance of sustainability-linked financing devices. Specializing in this single goal helps Nokia to systematically monitor its GHG emissions discount throughout Scope 1, 2 and three emissions.

Second-party opinion for the Framework has been supplied by Sustainalytics, assessing Nokia’s Sustainability Efficiency Goal as “Extremely Bold” and the corporate’s chosen Key Efficiency Indicator, discount of absolute GHG emissions throughout its worth chain to be “Very Robust”.

Marco Wirén, Chief Monetary Officer of Nokia, stated: “Complementing our enhanced ESG technique with the Framework is a logical subsequent step in our progress to strengthen the connection between our ESG and financing methods. We linked the margin of our EUR 1.5 billion revolving credit score facility to our sustainability targets already in 2019 and signed our first sustainability-linked assure facility in 2022. As we speed up our development, we stay deeply dedicated to be a part of the answer to the world’s largest challenges.”

Melissa Schoeb, Chief Company Affairs Officer of Nokia, stated: “Sustainability is core to Nokia’s objective of making know-how that helps the world act collectively. We’re delighted that Sustainalytics’ opinion aligns with our view relating to the energy of our Framework and that our goal to cut back greenhouse gasoline emissions throughout our price chain was assessed as extremely formidable.”

Sources

Webpage: Debt downloads – Nokia Sustainable Finance Framework

Webpage: Debt downloads – Sustainalytics Second-Get together Opinion

About Nokia

At Nokia, we create know-how that helps the world act collectively.

As a trusted companion for vital networks, we’re dedicated to innovation and know-how management throughout cell, fastened and cloud networks. We create worth with mental property and long-term analysis, led by the award-winning Nokia Bell Labs.

Adhering to excessive requirements of integrity and safety, we assist construct the capabilities wanted for a extra productive, sustainable and inclusive world.

Media Inquiries:

Nokia Communications
E-mail: press.companies@nokia.com