Coor commits to Net-Zero by 2040

STOCKHOLM, Feb. 22, 2023 /PRNewswire/ -- Coor commits to reach Net-Zero greenhouse gas emissions by 2040. This is ten years earlier than the Science Based Targets initiative's requirement for companies.

"It's really great that Coor has set a target that will be reached ten years earlier than the official standard requires. At the same time, this provides us with further confirmation that our sustainability strategy fully supports our vision of becoming a truly sustainable company," AnnaCarin Grandin, President and Group CEO at Coor, explains.

The new target means that Coor's operations will generate zero greenhouse gas emissions by 2040, while greenhouse gas emissions from the entire value chain will have decreased by 90% compared to 2018. Energy and materials flows will be fully circular by this date, and emissions from restaurant operations also sharply reduced, which implies high expectations on continued innovation. The remaining CO₂ emissions will then be climate offset.

In parallel with realigning operations to achieve Net-Zero by 2040, Coor has introduced official third-party validation through the Science Based Targets initiative (SBTi). This ensures that our efforts are in line with what the scientific evidence says is necessary to reach the target.

"Since our near-time climate goals were approved by the Science Based Target initiative in April 2022, we've worked to also find a possible long-term solution. We are focusing on the goal of achieving Net-Zero. The shift represents a significant challenge but is necessary for securing environmentally responsible long.-term growth," Maria Ekman, Head of Group Sustainability a Coor, explains.

The near-term climate goals approved by the SBTi mean that in the period up until 2030, Coor will reduce its greenhouse gas emissions under scope 1 and scope 2 by 75%, compared to 2018 levels. In order to achieve this, Coor has adopted a target of achieving a fossil fuels-free vehicle fleet and that all electricity will be generated by renewable energy sources by this date. Coor has also set the target that 75% of the company's emissions under scope 3 will come from suppliers whose climate targets have been approved by the SBTi by no later than 2026. In addition, emissions from food and drink are to be reduced by 30% [kg CO2e/kg purchased raw materials] by 2025 compared to the baseline year 2018.

Please find more information, images etc. at www.coor.com or contact:

AnnaCarin Grandin, President and CEO, Coor
+46 10 559 57 70
[email protected]

Maria Ekman, VP Group Sustainability, Coor
+ 46 70 585 40 08
maria [email protected]

Magdalena Öhrn, Communications Director, Coor
+46 10 559 55 19
[email protected]

About Coor:

As the leading provider of facility management services, Coor aims to create the happiest, healthiest, and most prosperous workplace environments in the Nordic region. Coor offers specialist expertise in workplace services, property services and strategic advisory services. Coor creates value by executing, developing, and streamlining our customers' service activities. This enables our customers to do what they do best.

Coor's customer base includes many large and small companies and public-sector organisations across the Nordic region, including ABB, Aibel, the Danish Building and Property Agency, DNV, DSB, Ericsson, Equinor, ICA, Karolinska University Hospital in Solna, PKA - "Danish Police, Public Prosecution Authority and Prison and Probation Service", PostNord, Saab, Sandvik, SAS, Skanska, Telia Company, Vasakronan and Volvo Cars.

Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com

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SOURCE Coor