Tieto has received approval from the Science Based Targets initiative (SBTi) for its updated climate goals, which include achieving net zero emissions across its value chain by 2040. The company’s revised targets put emphasis on reducing emissions not only from its direct operations but also from suppliers, business travel, and commuting, collectively known as scope 3 emissions.
According to Tieto, these value chain emissions account for the majority of its overall greenhouse gas output. The company is working with suppliers to establish ambitious climate targets and is encouraging sustainable travel practices among employees.
The approved plan sets a target to cut direct and energy-related emissions (scope 1 and 2) by 69% by 2034 compared to a 2022 baseline. For scope 3 emissions, the aim is a reduction of 59% by 2034 based on a 2024 baseline. To reach net zero across the value chain by 2040, Tieto plans to reduce both scope 1 & 2 and scope 3 emissions by 90%, using high-quality carbon removals to neutralize any remaining emissions.
Chief Sustainability Officer Ida Bohman Steenberg commented: “Our progress to date demonstrates that results-driven climate action is possible when the ambition is embedded across the business. We are proud of the progress we have made thus far, but our journey does not end here. The next challenge is to drive substantial reductions throughout our value chain to accelerate the transition to net zero.”
Tieto reports significant progress in recent years; by switching all offices to renewable electricity and electrifying its car fleet, it reduced operational emissions by 87% between 2020 and 2024.
The SBTi develops standards for companies seeking to align their emission reduction efforts with climate science. Its partners include CDP, United Nations Global Compact, We Mean Business Coalition, World Resources Institute (WRI), and World Wide Fund for Nature (WWF). More information about SBTi can be found at https://sciencebasedtargets.org/.
Tieto is a software and digital engineering services provider serving various industries through businesses such as Tieto Caretech, Tieto Banktech, Tieto Indtech, and Tieto Tech Consulting. The company employs around 15,000 people globally and reports annual revenue of approximately EUR 2 billion. Its shares are listed on exchanges in Helsinki, Stockholm, and Oslo.
For further inquiries, contact the Tieto Newsdesk at news@tieto.com or +358 40 5704072.