Mitigating the long-term effects of climate change requires decisive action now, making the 2024 UN climate summit (COP29) a crucial opportunity to help shape the future of our planet, economy, and society. Konecranes has deep sustainability ambitions of its own, and our vision for what we need from COP29 is clear: Strong commitments that will help drive an aligned, collaborative approach for governments and businesses, which is crucial if we are to reach our shared, singular goal of a more sustainable future.
Last year’s COP28 meetings were largely hailed as a success, leading to, among other progress markers, the operationalization of the Loss and Damage Fund and the long-awaited establishment of the Global Goal on Adaptation. Notably, COP28’s final declaration aimed to triple global renewable energy capacity and double energy efficiency — a significant step toward keeping global warming within the 1.5°C threshold.
But while COP28 has been celebrated as the "beginning of the end" for fossil fuel dependency, it merely laid the foundation for the critical work yet to be done. Looking forward, the hardest part still lies ahead.
“Important progress has been made,” says Anniina Virta-Toikka, Vice President, Sustainability at Konecranes, “but COP29 must keep that momentum going. We can't afford any slowdown or regression. In many industries, including ours, solutions to help with the transition away from fossil fuels are already increasingly available, but the global movement toward adoption needs to accelerate."
Konecranes’ electric product offering is already very comprehensive. All Industrial Equipment products are electric, and Port Solutions has steadily expanded the offering of electric and hybrid products, with the last remaining diesel-fueled product lines within the lift truck business to be made available electrically by the end of 2026. After this, all Port Solutions product lines would have an electric variant available.
However, the switch to low-carbon products such as these often involves complex challenges that require not only changes in infrastructure and investment but also business strategy and decision-making. Overcoming those challenges will require unprecedented, sweeping change, and COP29 is poised to put that change into accelerated motion.
Urgent updates and critical contributions
COP29 marks the start of the submission window for updated Nationally Determined Contributions (NDCs), which will extend through February 2025. These updated commitments will shape the world’s emissions trajectory for years to come. The stakes are high, and the expectations are clear: NDCs must commit to phasing out fossil fuels over the next six years, while rapidly scaling up renewable energy.
First and foremost, NDCs should embody a strong effort to support customers in both the public and private sectors to decouple growth and productivity from greenhouse gas emissions through solutions such as electrification, renewable energy, and renewable fuels. Additionally, strong NDCs can help accelerate decarbonization across industries by focusing on critical sectors, such as mining and manufacturing, whose energy use and emissions impact much larger value chains. Finally, NDCs and climate policies should seek to ensure that businesses’ efforts are aligned with a coordinated global push toward sustainability.
“Governments around the world need to set ambitious NDCs,” Virta-Toikka explains. “They must push industries which are fundamental to the global economy to decarbonize faster. This is crucial not just for companies like ours, but for the entire global supply network. Konecranes' sustainability initiatives won't have the impact they could unless we make the shift together with our customers and suppliers.”
Leading the way on sustainability
Indeed, while broad commitments and policies like NDCs create crucial frameworks, business-driven innovation and investment are at the forefront of climate action. Companies including Konecranes have already begun this transformation, while others are faced with the responsibility — and opportunity — to join them. To do so requires a credible net zero commitment, ambitious near-term goals, and a clear transition plan, with substantial GHG emissions reductions still needed across the globe.
“Konecranes strives to be a leader in sustainability,” Virta-Toikka continues. “It’s not about responding to regulations; it’s about setting high standards for ourselves and our business partners and finding ways to be part of the solution.”
Achieving the ambitious climate targets includes reducing emissions across all aspects of Konecranes’ operations. Konecranes has already achieved its science-based target of halving the emissions from its own operations (Scope 1 and 2) since 2019, eight years ahead of schedule. For value chain emissions (Scope 3) it aims to halve the emissions by 2030 with the focus on the most significant contributors to the company’s carbon footprint. This means reducing emissions related to the use of sold products — here the electrification of its offering plays a key role — and purchases of key raw materials like steel. Complementing these near-term goals, Konecranes has also committed to setting science-based targets for net-zero emissions by 2050.
But as Virta-Toikka emphasizes, collaboration is key: “We can’t reach these goals alone. Beyond our own operations, we also want to invite our customers and suppliers to make low-carbon choices and set ambitious climate targets. We have a collective responsibility to contribute to a larger, industry-wide transformation.”
Industry-wide transformation
The material handling industry, particularly in sectors like ports and logistics, has a unique role to play in decarbonizing the global economy. The movement of goods around the world contributes significantly to emissions, and innovation is essential in making this process cleaner and more efficient. COP29 presents a pivotal opportunity to incentivize and support such innovation, as well as the adoption of existing solutions.
“Mitigating climate change is not just about governments,” says Virta-Toikka. “It's about what industries like ours are prepared to do in response. If we are to keep climate change within safe limits, we need to be bold, proactive, and committed. The future of material handling can — and should — be more sustainable. The time to act is now.”
