Hiab sets science-based climate targets

Hiab has set ambitious near and long-term targets for reducing its greenhouse gas emissions, supporting our vision to be the number one partner in smart and sustainable load handling. This represents a key step in our continuous sustainability journey  and helps decouple our business growth from emissions growth.

The targets have been submitted to the Science Based Targets initiative (SBTi) for validation, which ensures their alignment with the objective of the Paris Agreement to limit global warming to 1.5°C. While part of Cargotec, Hiab had SBTi-validated climate targets in place (since 2020). Now, as a standalone company, we are updating these targets.

Ambitious climate goals

Hiab’s updated climate targets cover the full value chain.In its own operations (Scopes 1 and 2), Hiab aims for a 50 percent emission reduction by 2030 and a 90 percent reduction by 2040, compared to a 2022 base year.In the value chain (Scope 3), Hiab seeks to achieve a 25 percent reduction by 2030 and a 90 percent reduction by 2050, compared to 2022.

Through these efforts, Hiab aims to achieve net-zero emissions in its own operations by 2040 and be net zero throughout the value chain (Scopes 1, 2, and 3) by 2050.

Action plan

To reach these targets, Hiab will focus on, for example, expanding its eco portfolio through product innovation, shifting to fossil-free energy in its operations, and increasing the share of recycled steel in manufacturing.

“These targets reinforce Hiab’s commitment to reduce its greenhouse gas emissions. They provide a science-based path towards growing our business without growing our emissions. Although this is one the biggest challenges all companies face today, we know that with our eco portfolio solutions, we are moving in the right direction,” says Sanna Ahonen, EVP Strategy and Sustainability.

 

Read more about sustainability at Hiab.