Ilmarinen commits to science-based climate targets

– By committing to science-based targets, we are moving forward with our climate plan for 2026–2030. Our work is in line with the goals of the Paris Climate Agreement, says Karoliina Lindroos, Head of Responsible Investment.

Science-based targets guide Ilmarinen's investment activities towards emission reduction paths in line with climate science. The aim is to achieve clear emission reductions by 2030.

– We monitor the progress of the targets and report them in accordance with internationally comparable principles," says Lindroos.

In the climate plan for 2026–2030, Ilmarinen aims to reduce the carbon footprint of its investments by reducing carbon intensity and financed emissions. Financed emissions are emissions that are generated by companies that Ilmarinen invests in. The proportion of these emissions allocated to the investor is calculated in Ilmarinen's carbon footprint. In addition, Ilmarinen is increasingly directing capital towards companies that have science-based climate targets and offer climate solutions.

What SBTi?

The Science Based Targets initiative (SBTi) is an international joint initiative of organisations that guides companies in setting climate targets in line with climate science. In accordance with the commitment, Ilmarinen will submit near-term climate targets to SBTi for evaluation, which SBTi will evaluate and confirm based on its criteria.

The target process proceeds in stages: the organization setting the targets first commits to science-based climate targets. Next, it defines its goals and submits them for evaluation by the SBTi organization. Finally, SBTi carries out an independent audit process for the objectives. Ilmarinen has committed and delivered on its goals. Next, the SBTi will review them.

Ilmarinen's long-term goal is to continue to be part of the Paris Aligned Asset Owners commitment, which aims to align its investment portfolios with the Paris Climate Agreement.