GlobalData offers a comprehensive analysis of Caverion, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Caverion‘s ESG performance. GlobalData’s company profile on Caverion offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
In pursuit of transparently measuring their carbon footprint, Caverion, a provider of smart technical solutions and services, has made a commitment to the Science Based Targets initiative (SBTi) in early 2022. In 2023, it is dedicated to reducing Scope 1-3 CO2 emissions and validating its SBTi emission targets. Caverion's latest filings mentioned the keywords ‘Emissions' and ‘Carbon’ most number of times in relation to 'Climate Change'.
The company committed to the target that its positive carbon handprint will be 5 times greater than its carbon footprint (Scope 1-2) by 2025 and 10 times greater by 2030. By enhancing energy efficiency for both the company and customers, increasing the integration of renewables in the built environment, and adopting responsible management of service and supply chains, the Science Based Targets initiative (SBTi) aims to achieve its supported climate targets.
Caverion has taken several steps to reduce its carbon footprint, including investing in sustainable and smart solutions such as energy management, energy performance contracting, and electric vehicle charging. The company has also expanded its workforce to include professionals in smart security services, refrigeration, technical engineering and automation, and consultancy and services for the wind power industry.
Caverion's carbon emissions trend shows a decrease in energy consumption within the organization and an increase in green, renewable energy consumption. The company's fuel consumption trend shows a decrease in petrol and light fuel oil consumption and an increase in natural gas and bio-diesel consumption. Caverion's scope 1 emissions trend shows a decrease in CO2 emissions from petrol and light fuel oil, while scope 2 emissions trend shows an increase in CO2 emissions from natural gas. The company's scope 3 emissions trend shows a decrease in CO2 emissions from purchased materials and services. The company reported scope 1, scope 2 and scope 3 emissions at 21,129 tonnes CO2, 26,289 tonnes CO2 and 74.9 tonnes CO2 respectively.
In conclusion, Caverion's commitment to the Science Based Targets initiative and proactive efforts to reduce carbon emissions by achieving a positive carbon handprint five times greater than its carbon footprint by 2025 and ten times greater by 2030, the company showcases its ambition to make a positive impact on the environment.