Nokia achieves CDP A List for climate change performance

Nokia achieves CDP A List for climate change performance

Press Release

Nokia achieves CDP A List for climate change performance

CDP scored almost 6,000 companies globally, choosing a small percentage for the highest score

8 December 2020

Espoo, Finland - Nokia today announced that it has been recognized for its contribution towards cutting emissions, mitigating climate risks and developing a low-carbon economy. CDP, which runs the world's leading global disclosure system for environmental impact, has included Nokia in it's A list. CDP scored almost 6,000 companies globally, choosing a small percentage for the highest score.

A leader in 5G development and deployment, Nokia is combatting climate change through its own products and by enabling other industries to reduce emissions through digitalization and automation. 5G is designed to be more energy efficient than previous generations. A new study by Nokia and Telef nica found that 5G networks are up to 90 percent more energy efficient per traffic unit than legacy 4G networks.

In June, Nokia announced that its liquid-cooled base station solution has helped Finnish mobile operator, Elisa, reduce the potential energy expenses of its base station by 30 percent and CO2 emissions by 80 percent.

Karoliina Loikkanen, Nokia Global Head of Sustainability, said: Amidst the challenges of COVID-19, we are immensely proud to have been recognized for our actions on combatting climate change. Connectivity delivers economic prosperity, opportunity for all people and a healthier planet. By increasing productivity, mobile communication technologies have the potential to decrease emissions in other sectors 10 times the amount of emissions produced globally by the mobile networks themselves. We are delighted to have earned a place on CDPs Climate A List.

Paul Simpson, CEO of CDP, said: We extend our congratulations to all the companies on this year's A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ambition loop' for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.

CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform. Over 9,600 responded - the highest ever.

Nokia was among the initial 87 companies to commit to science-based targets in line with a 1.5 C climate scenario. The company is in the process of recalibrating its original targets set in 2017 and meanwhile remains on track to meeting those original targets of 75% reduction of CO2 emissions for products in use by 2030 and a 41% reduction in operational CO2 emissions.

Resources:

CDP website CDP A List

Nokia website: Nokia People & Planet Report 2019 | Executive summary

Nokia website: Combatting climate change

About Nokia

We create the technology to connect the world. Only Nokia offers a comprehensive portfolio of network equipment, software, services and licensing opportunities across the globe. With our commitment to innovation, driven by the award-winning Nokia Bell Labs, we are a leader in the development and deployment of 5G networks.

Our communications service provider customers support more than 6.4 billion subscriptions with our radio networks, and our enterprise customers have deployed over 1,300 industrial networks worldwide. Adhering to the highest ethical standards, we transform how people live, work and communicate. For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia.

About CDP

CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who have disclosed, making CDP's platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow us @CDP to find out more.

Media Inquiries:

Nokia

Communications

Phone: +358 10 448 4900

Email: press.services@nokia.com

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