Konecranes achieved the Scope 1 and 2 science-based target of reducing the emissions of own operations by 50 percent by 2030 from the baseline year 2019 already in 2022, eight years ahead of schedule. Therefore, a new target was set: Carbon neutral own operations by 2030. We will achieve carbon neutrality by improving energy efficiency in our operations, investing in renewable energy sources, and electrifying our vehicle fleet. The unavoidable emissions left – most probably mainly related to vehicle fuel consumption and refrigerants - will be offset if no feasible technologies are available by 2030. In 2024, emissions from own operations decreased by 56 percent compared to the base year 2019. During the year, we continued to increase the share of renewable energy. For example, in Hyvinkää, Finland we shifted to fully renewable district heating and renewable fuels, and in Markaryd, Sweden we replaced oil-based heating with geothermal heating. We also continued to electrify the vehicle fleet.
We target to halve our Scope 3 (value chain) emissions by 2030, with current progress of 12% decrease since 2019. The main actions in Scope 3 emission reduction are related to electrifying our offering by 2026 and collaborating with suppliers sharing our climate ambition to minimize the emissions related to steel purchases. In 2024 we launched several electric products on the market. We also further increased our understanding of the steel market decarbonization development and its impact on our products as well as further investigated alternatives for purchasing low-emission steel. We continued the implementation of Konecranes Design for Environment principles in product development.
We continuously develop our digital ecosystem and product safety features and have further strengthened our information security management system as well as our safety culture to enhance the safety, security and reliability of our products, services and solutions. In 2024, we, for example conducted product safety management process’ internal audits and used the findings to further improve the process. Konecranes also achieved IEC 62443 cybersecurity certification for its secure product development process, covering RTGs in segment Port Solutions, and Process Cranes and Light Lifting products in the segment Industrial Equipment. We also continued embedding health and safety into everyone’s daily job by supporting employees in recognizing hazards; making health, safety and environmental observations; and promoting health, safety and environmental excellence.
In 2024, Konecranes rolled out a new basic training on its Code of Conduct, which guides the behavior of each Konecranes employee. We also prepared and piloted a new country compliance risk assessment concept and piloted it in a handful of countries. This will be used in selected countries to help better understand corruption and other compliance risks relating to Konecranes’ operations. We rolled out an updated Supplier Code of Conduct, which strengthens the ethical and legal principles and requirements for suppliers and subcontractors. We also updated the Know Your Supplier Policy and process.
In 2024, we continued to conduct social responsibility assessments in our own operations. Konecranes also committed to meeting the living wage requirements and started to close the gaps. Living wage is higher than the adequate wage defined in CSRD in several locations. In 2024, Konecranes paid an adequate wage to all its employees.
A diverse and inclusive workplace underpins our winning culture. In 2024, Konecranes launched guidance on inclusive language for raising awareness and improving the inclusivity of the working environment. We also launched a renewed version of diversity and inclusion e-learning, with equity as a topic. We also conducted a pay equity pilot in line with future EU directives in five countries and identified areas for improvement.
