Sanoma Corporation, Press release, 14 February 2024 at 13:15 EET
Sanoma maintained its CDP Climate rating on leadership level of A-
Sanoma was awarded with the leadership level score of A- in the global CDP Climate Change rating for the second consecutive year. CDP scoring is considered the gold standard of corporate environmental transparency and varies in a scale from A to D-. In addition, Sanoma maintained a solid CDP Forest rating of B.
"We are happy to be recognised with leadership level CDP Climate rating of A- for the second year in a row. During 2023, we continued our systematic efforts to reduce emissions and the Science-Based Targets initiative validated our emission reduction targets in November, indicating that they are aligned with climate science and the Paris Agreement's 1.5 degree goal. We take the climate crisis seriously and use the ratings to test and improve our performance. I am very proud of the work the teams across Sanoma are doing against climate change," says Kaisa Uurasmaa, Head of Investor Relations and Sustainability at Sanoma.
Sanoma's approach for credible climate action includes five steps: comprehensive measurement of climate footprint in Scope 1, 2 and 3, ambitious climate targets covering emissions from our own operations and from the entire value chain, clear reduction roadmaps, strong executive management commitment and transparent communications. Sanoma uses the Task Force on Climate Related Disclosure Framework (TCFD) to manage its climate strategy and assess climate-related risks and opportunities.
Sanoma's most significant climate impacts and 95% of its total annual carbon footprint derive from its indirect value chain. Sanoma's target is to reduce the absolute Scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, and upstream transportation and distribution by 38% by 2030 from a 2021 base year. During 2022, Sanoma's relevant Scope 3 value chain emissions declined by 8.2% as a result of several initiatives related to the use of materials, logistics and services. In its own operations, Sanoma aims to reduce absolute Scope 1 and 2 GHG emissions by 42% by 2030 from a 2021 base year by focusing especially on the emissions caused by district heating and cooling of its premises and company cars. Own operations' emissions generate about 5% of Sanoma's total annual carbon footprint. During 2020-2021 Sanoma halved these emissions, and they declined further by 7% in 2022. In addition to Sanoma's science-based emissions reduction targets, Sanoma aims to be carbon neutral in 2030, which means offsetting the emissions that cannot be avoided.
CDP is a global non-profit organisation that annually assesses companies' environmental work. The scores are based on the scope of reporting, the identification and management of environmental risks and compliance with the best practices in environmental management. CDP regularly increases the minimum level required for a leadership level rating. In 2023, nearly 21,000 organisations around the world disclosed data through CDP, with only approx. 400 reaching the leadership level rating.
Learn more about CDP. Learn more about Sanoma's ESG ratings and Sanoma as a sustainable investment here.
Additional information
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601
Sanoma
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day. Our Sustainability Strategy is designed to maximise our positive 'brainprint' on society and to minimise our environmental footprint. We are committed to the UN Sustainable Development Goals and signatory to the UN Global Compact.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in twelve European countries and employ more than 5,000 professionals. In 2023, our net sales amounted to approx. 1.4bn€ and our operational EBIT margin excl. PPA was 12.6%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at sanoma.com.
