The Science Based Targets initiative (SBTi) has approved Posti's science-based net-zero targets.
Posti is the first Finnish company and globally the first company in its industry to have its net-zero targets approved by the initiative. There’s no companies from Sweden or Baltics with approved targets, either.
In addition to Posti, 16 companies worldwide have their net-zero targets approved. Eight of these companies are committed to reaching the target, like Posti, by 2040, the earliest possible date.
Earlier, last August, SBTi approved Posti's near-term science-based emission reduction targets *. To achieve them, Posti intends to be zero-emission in terms of its own operations (scope 1 & 2) and achieve 100% fossil-free road transport also for its partners by 2030.
"The latest climate science from the IPCC shows it is still possible to limit global temperature rise to 1.5°C, but we are dangerously close to that threshold. Companies need to rapidly halve emissions before 2030 and achieve net-zero before 2050. Posti is committed to net-zero by already 2040, and we want to encourage all companies to join," says Noomi Jägerhorn, Posti's Sustainability Director.
The net-zero target means that Posti will reduce the emissions of the value chain to zero in addition to the emissions caused by its own operations - in practice, its own transportation, and business premises. Emissions in the value chain include, for example, subcontracted transport, emissions from the production phase of fuels, purchased products and services, and business and business travel.
To reach the science-based net-zero target, a company must reduce all its emissions to zero. However, if this is not possible, for example, because a company cannot control all emissions in its value chain, emissions must be reduced by at least 90%. In this case, the remaining emissions must be removed from the atmosphere. Posti's all emissions are disclosed in more detail in the Sustainability Report (link).
* Posti's science-based emission reduction targets
- By 2030, Posti will reduce its total emissions (scope 1, 2 & 3) by 50% from the 2020 level.
- Posti intends to achieve this goal by being zero-emission in terms of its own operations (scope 1 & 2) and by achieving 100% fossil-free road transport also by 2030 in the value chain.
- By 2040, Posti will be net-zero in all its operations (scope 1, 2 & 3).
Posti had committed itself to the zero-rated Climate Pledge initiative by 2020 (press release), but now the targets have been approved by SBTi.
Posti's own emissions fell by ten percent last year compared to the previous year. A year earlier, emissions fell by 14 percent, so the journey towards zero emissions continued at a good level. In total, Posti's own emissions in Finland have fallen by almost 60 percent since 2011.
In May, the international financial media Financial Times added Posti to its list of the European companies that have reduced their climate emissions the most, Europe's Climate Leaders 2022. The list includes 400 companies, 20 of them from Finland. In March, Finnish consumers chose Posti as the most responsible parcel and logistics brand in the 2022 Sustainable Brand Index ™ survey.
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
Source: Posti Group