Climate

Kalmar is committed to doing its share to limit global warming to 1.5°C. We will do this by capturing profitable growth from the business opportunities that climate action brings. Our science-based target for greenhouse gas emission reduction, which has been validated by the Science Based Targets initiative (SBTi), is in line with this ambition.

Our impact

The use phase of Kalmar products by customers is where the large majority of our greenhouse gas emissions (85% in 2023) are generated, mostly due to emissions from diesel-powered machinery. Similarly, CO2 emissions from our supply chain, specifically from the extraction and manufacturing of our raw materials and components (mostly steel), are significant (14%). And while emissions from our own operations represent only a very small share of our total emissions (<1%), they do have an impact on the climate.

Kalmar impacts the climate, but climate change also impacts Kalmar. We have tested, as part of Cargotec, the resilience of our climate strategy in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) for disclosing climate-related risks and opportunities. More information about this analysis can be found here and in the Board of Directors' report in Cargotec’s Annual report. We will conduct a new scenario assessment (TCFD) in 2024 as a stand-alone company, and the results will be used for our 2024 annual report.

Our targets and progress

To tackle our greenhouse gas emissions, we have chosen to set challenging climate targets for ourselves. Kalmar’s science-based climate targets, validated by the SBTi, are the following:

• Reduce CO2 emissions in the value chain by 25% by 2025 (from 2019)

• >65% of electricity in own operations will be renewable in 2024

Kalmar’s climate targets will be renewed during 2024 for 2025, our first full operating year as a stand-alone company.