Fingrid Commits to Significant Reductions in Greenhouse Gas Emissions

Fingrid has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emission reduction targets.

With its science-based short-term targets, the company commits to reducing its absolute direct greenhouse gas emissions (Scope 1) by 42% from the 2022 baseline by 2030. The reduction target for indirect Scope 2 emissions is 53%. These targets align with the emission reduction trajectory deemed sufficient to limit global warming to 1.5°C above pre-industrial levels.

Fingrid also commits to reducing other indirect Scope 3 emissions by 25% from 2022 levels by 2030. Most of these emissions arise from upstream material procurement in the value chain, as the company carries out transmission grid investments—such as power lines and substations—that enable the green transition.

Through its operations, Fingrid significantly contributes to a low-carbon society and industry by enabling the transmission of clean electricity. The company aims to implement the largest investment program in its history in a way that minimizes greenhouse gas emissions.

“Approved science-based emission reduction targets provide a framework for reducing greenhouse gas emissions in our operations and value chain. SBTi is a widely recognized and respected climate action framework. With approved targets, it is also easier for us to communicate to our stakeholders the diverse work we are doing to mitigate the negative climate impacts of our business,” says Marina Louhija, Fingrid’s Director of Sustainability and Legal Affairs.

Key measures for achieving the emission reduction targets include procuring aluminum conductors produced with fossil-free electricity and exploring the transition to renewable diesel in reserve power plants. Additional greenhouse gas reduction measures are also needed and are currently being explored through company-level transition planning. Collaboration with contractors and partners motivated by climate action is central to this effort.

The Science Based Targets initiative is a collaboration between CDP, the UN Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The initiative defines and promotes best practices in science-based target setting and independently assesses companies’ targets.

Further information:
Elina Merta, Expert, Land Use and Environment, tel. +358 40 778 2452
Satu Vuorikoski, Senior Expert, Environment and Corporate Responsibility, tel. +358 40 737 2321