GlobalData offers a comprehensive analysis of Tieto, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of Net Zero and associated ESG keywords, GlobalData delivers valuable information on Tieto’s ESG performance. GlobalData’s company profile on Tieto offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Tieto, a Nordic IT services company, has set a net-zero target of reduction in greenhouse gas emissions from its 2020 baseline by the end of 2025. Tieto's latest filings mentioned the keywords 'CO2' and 'Emissions' most number of times in relation to 'Net Zero'.
In FY2022, the company reported total GHG scope 1 emissions of 232 tCO2e and location-based scope 2 emissions of 7803 tCO2e and market-based scope 2 emissions of 2785 tCO2e. Its total scope 3 emissions were at 232,507 tCO2e. The company has a target to achieve 80% reduction in scope 1 and 2 CO2 emissions by FY2023.
Tieto has made significant progress in reducing energy-related greenhouse gas emissions by achieving a 70% reduction from the base year 2020. The company has set an ambitious target to use 100% renewable and carbon-free electricity in its offices and data centers by 2023, with a strong result of 95% renewable electricity in 2022. By committing to the Science Based Targets Initiative (SBTi), Tieto aims to reduce absolute scope 1 and 2 emissions by 90% by 2026, increase the sourcing of renewable electricity to 100%, and reduce scope 3 emissions from business travel by 47% per full-time employee by 2030. Additionally, Tieto is actively engaging its supply chain, with a goal to have 70% of its suppliers adopt science-based targets by 2026. These commitments demonstrate Tieto's dedication to carbon neutrality and sustainability throughout its operations and value chain.
In conclusion, Tieto has set ambitious net-zero targets and specific goals related to reducing scope 1, 2, and 3 emissions. Tieto has already achieved significant reductions in CO2 emissions and plans to continue investing in renewable energy and energy-efficient solutions such as promoting sustainable transportation to achieve its net-zero targets. Tieto has already achieved a reduction in CO2 emissions from its own operations since 2008 and has been recognized as a leader in sustainability by various organizations.