KION Group Secures SBTi Validation for Ambitious Net-Zero Climate Goals

KION Group Secures SBTi Validation for Ambitious Net-Zero Climate Goals

(IN BRIEF) KION GROUP AG’s climate targets have been validated by the Science Based Targets initiative (SBTi), marking a critical milestone in its sustainability strategy. The company aims to achieve net-zero greenhouse gas emissions across its value chain by 2050, with near-term goals of reducing Scope 1 and 2 emissions by 42% and Scope 3 emissions by 25% by 2030, based on 2021 levels. Long-term targets include a 90% reduction in emissions by 2050, with the remaining 10% neutralized. Key strategies involve transitioning to renewable energy, improving energy efficiency, and fostering collaboration with suppliers and customers to support decarbonization throughout the value chain.

(PRESS RELEASE) FRANKFURT, 5-Dec-2024 — /EuropaWire/ — KION GROUP AG has received validation for its climate targets from the Science Based Targets initiative (SBTi), marking a significant milestone in the company’s sustainability journey. The validation confirms KION’s commitment to achieving net-zero greenhouse gas emissions across its value chain (Scopes 1, 2, and 3) by 2050, aligning with the Paris Agreement’s goal to limit global warming to 1.5°C.

Ambitious Targets for Decarbonization

KION’s climate strategy includes near-term goals to reduce Scope 1 and 2 emissions by 42% and Scope 3 emissions—primarily from product use—by 25% by 2030, using 2021 as the baseline year. Long-term targets aim for a 90% reduction across all scopes by 2050, with residual emissions of no more than 10% being neutralized in accordance with SBTi guidelines.

To achieve these goals, KION is focusing on key initiatives such as transitioning to renewable energy for its operations, enhancing energy efficiency, and fostering collaboration with suppliers and customers. Suppliers accounting for at least 5% of KION’s purchased goods and services emissions are also required to set their own SBTi-aligned targets by 2029.

Strategic Levers for Sustainability

Within its operations, KION is adopting renewable energy for its fleet, facilities, and manufacturing processes while managing energy consumption effectively. Collaboration with suppliers is central to making the procurement process more sustainable. For customers, increasing the adoption of electric-powered and lithium-ion battery trucks, improving the energy efficiency of industrial equipment, and promoting renewable energy use are key priorities.

Leadership Commitment

Valeria Gargiulo, Chief People & Sustainability Officer at KION, emphasized the importance of these targets:
“Having our climate targets validated by the SBTi is a pivotal moment in our sustainability strategy. It underscores the progress we’ve made and the path forward. Achieving these ambitious goals requires dedicated efforts across our value chain, with strong partnerships between KION, our customers, and suppliers.”

A Clear Path to Net-Zero

KION’s decarbonization efforts reflect a comprehensive approach to sustainability, ensuring both near- and long-term actions to reduce emissions. The validation by the SBTi not only affirms the company’s dedication but also serves as a catalyst for collaborative climate action within its industry and beyond.

Through this ambitious plan, KION is setting a benchmark for innovation and leadership in corporate decarbonization while aligning with global efforts to combat climate change.

The Company

The KION Group is one of the world’s leading providers of industrial trucks and supply chain solutions. Its full spectrum of services includes industrial trucks, such as forklift trucks and warehouse trucks, as well as integrated automation technologies and software solutions for the optimization of supply chains—including all related services. The KION Group’s solutions ensure the smooth flow of materials and information in customers’ warehouses, production plants, and distribution centers in over 100 countries.

The MDAX listed group is the largest manufacturer of industrial trucks in the EMEA region based on the number of units sold in 2022. Based on revenue for the year 2023, the KION Group is the leading overseas manufacturer in China, and including domestic manufacturers, the third-largest supplier there. The KION Group is also one of the world’s leading warehouse automation providers, based on 2023 revenue.

At the end of 2023, more than 1.8 million industrial trucks of the KION Group were in use by customers from all manner of sectors and of varying sizes on six continents. The group currently has more than 42,000 employees and generated revenue of approx. € 11.4 billion in the 2023 financial year.

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Disclaimer

This release and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.

This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ significantly from the results that are currently expected due to various risk factors and uncertainties such as changes in economic or industry-specific conditions, changes in the market environment or political situation, changes in domestic or international legislation, interest rate or exchange rate fluctuations, legal disputes and investigations, and the availability of financial resources. We do not assume any responsibility for updating the forward-looking statements in this release.

Media Contacts:

Dennis Lüneburger
Manager Group Communications
Phone +49 69 201107768
dennis.lueneburger@kiongroup.com

Raj Junginger
Senior Manager Investor Relations
Phone +49 (0)69 201 107 942
raj.junginger@kiongroup.com

Website: www.kiongroup.com/media

SOURCE:KION Group