Uponor first in its industry to receive approval for its net zero target by the Science Based Targets initiative

Uponor Corporation, Press Release, 20 April 2023 at 03:00 pm EEST

Uponor first in its industry to receive approval for its net zero target by the Science Based Targets initiative

Uponor, a leading global provider of sustainable water solutions for buildings and infrastructure, announces that its new, even more ambitious greenhouse gas (GHG) emission reduction targets were approved on 20 April 2023 by the Science Based Targets initiative (SBTi). The initiative also approved Uponor’s target of reaching Net Zero emissions by 2040. The approval means that SBTi’s independent experts have reviewed and validated the targets to be in line with the Paris agreement and latest climate science.

The reduction targets apply to Uponor’s direct emissions from the company’s own operations (scope 1), indirect emissions from the purchase of energy (scope 2), as well as the emissions from the entire value chain (scope 3). Uponor aims to reduce its scope 1 and 2 emissions by 75% by 2027, with 2019 as the base year. The reduction target for scope 3 emissions is 20% within the same time frame. The Net Zero target refers to an effort to limit GHG emissions to as close to zero as possible, with the remaining emissions removed from the atmosphere.

Uponor reached its earlier emission reduction targets, also set in alignment with the Science Based Targets initiative, ahead of schedule in 2021. It was therefore natural for Uponor to set the bar even higher as the company launched its new sustainability agenda in 2022.

“Uponor’s commitment to a net-zero agenda, a key pillar in our strategy, demonstrates the essential role that the Group can play in fighting climate change. The entire construction industry is actively searching for ways to reduce its climate impacts, with value chain emissions as the main challenge. We can make a difference in our customers’ environmental performance by improving our own. Validation from the Science Based Targets initiative shows that we are on the right track,” Uponor Corporation’s President and CEO Michael Rauterkus says.

Work towards reaching the targets is ongoing. Uponor aims to source 100% green electricity on a global scale, and plans to electrify selected processes and equipment are in place. The company’s scope 3 emissions are mainly derived from the raw materials it uses, and therefore the transfer to renewable and recycled raw materials plays an important role. Uponor also works actively with its supply chain to encourage efficiency improvements and emission reductions.

Uponor’s progress on its sustainability work is reported annually in Uponor’s sustainability review available at the company website at https://www.uponorgroup.com/en-en/investors/reports-and-presentations/annual-publications/2022.

About the Science Based Targets initiative
The globally recognized Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

Further information:

Ilari Aho
Vice President, Sustainability and Regulatory Affairs
Uponor Corporation
Tel. +358 (0)20 129 2883

Franciska Janzon
Senior Vice President, Corporate Communications and IR
Uponor Corporation
Tel. +358 (0)20 129 2821

Uponor in brief
Uponor is a leading global provider of solutions that efficiently and effectively move water through cities, buildings, and homes. We help customers in residential and commercial construction, municipalities, and utilities, be more productive – and continuously find new ways to conserve, manage and provide water responsibly, unlocking its potential to provide comfort, health, and efficiency. Our safe drinking water, energy-efficient radiant heating and cooling systems, and reliable infrastructure solutions are sold in more than 80 countries. Uponor employs about 4,000 professionals in 26 countries in Europe and North America.

In 2022, the company’s net sales totalled approximately €1.4 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com