Browsing by Author "Malmberg, Jonne"

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Comparative Analyses of Science Based Targets Scope 3 Emissions in Corporate Sustainability Policies
(2023-12-11) Malmberg, Jonne
Sähkötekniikan korkeakoulu | Master's thesis
Companies worldwide are aligning with the goals of the Paris Agreement, which aims to limit global warming to below 2 °C, and preferably to 1.5 °C, above pre-industrial levels. Many companies are adopting the Science-Based Targets initiative (SBTi), a collaboration between organizations such as the United Nations Global Compact (UNGC), the World Wide Fund for Nature (WWF), the World Resources Institute (WRI), and the Carbon Disclosure Project (CDP). Through the implementation of SBTi, companies can reduce their greenhouse gas emissions in line with global carbon dioxide (CO2) emission reduction targets. This thesis explores the impact of SBTs on promoting corporate sustainability practices within the electrical equipment and machinery sector. Initially, the research examines the collective efforts of companies in innovative strategizing and highlights both opportunities and challenges faced by the thesis's collaborative partner company in their corporate environmental and sustainability strategies to meet their SBTs. Utilizing both primary and secondary data, this thesis offers an in-depth analysis of the current sustainability strategies and objectives pursued by various companies. Primary data are sourced from empirical research methods, specifically through comparative analyses of semi-structured questionnaire interviews. Secondary data are derived from the SBTi database and companies' ESG reports. These methods are complemented by a comprehensive literature review, which discusses the SBTi, corporate sustainability strategies, Environmental, Social, and Governance (ESG) Reporting, as well as an analysis of Scope 3 emissions, Life Cycle Assessment (LCA), and the implications of green steel production and the Carbon Border Adjustment Mechanism (CBAM). The key result of the research underscores the need to develop emission calculation methods. It also emphasizes the importance of reducing the carbon footprint of steel production by using recycled materials and the adoption of new emission reduction techniques. Enhanced supplier and customer engagement strategies concerning SBTs, as well as an analysis of the effects of the CBAM on supply chain processes, are also highlighted. Overall, this research advocates for a sustainable corporate environment, urging industries to balance business growth with sustainability goals.