KONE awarded as Supplier Engagement Leader by CDP

Press Release Published 24/02/2022

KONE Corporation, press release, February 24, 2022

KONE, a global leader in the elevator and escalator industry, has again been awarded a position on the CDP 2021 Supplier Engagement Rating (SER) Leaderboard. KONE ranks among the top 4.5% of organizations assessed by CDP. Demonstrating actions to cut emissions, mitigate climate risks, and develop a low-carbon economy, KONE also achieved a place on CDP's prestigious 'A List' for Climate Change at the end of last year.

"We are delighted to be included in CDP's Supplier Engagement Rating Leaderboard, which recognizes KONE as a global leader for engaging with our suppliers. Companies need to better understand their impact on the value chain, make the most of low-carbon business opportunities, and continue to work on climate resilience," said Hanna Uusitalo, environmental director at KONE.

KONE works with approximately 30,000 suppliers, which provide the company with raw materials, components, and modules, as well as logistics and installation services. As a responsible corporate citizen and business partner, KONE aims to make a positive impact throughout the value chain. Taking responsibility for the environment and sustainability more broadly is included in the KONE Supplier Code of Conduct.

CDP is a global non-profit that runs the world's leading environmental disclosure platform. Almost 11,500 companies in total were assessed by CDP and given a Supplier Engagement Rating, based on answers to selected questions about governance, targets, scope 3 emissions, and value chain engagement of their response to the CDP 2021 climate change questionnaire and their overall CDP climate change score. This year, 518 companies made the Leaderboard.

The Supplier Engagement Leaderboard follows on from CDP's most recent supply chain report, Engaging the Chain: driving speed and scale, where CDP found that GHG emissions in a company's supply chain are, on average, 11.4 times higher than its operational emissions. As a leader in sustainability, KONE is the only elevator and escalator company with approved Scope 3 science-based targets that have been validated against the latest climate science by the Science Based Targets initiative (SBTi). KONE targets a 40% reduction in the emissions related to its products' materials and lifetime energy use (Scope 3 emissions) by 2030, compared to a 2018 baseline, relative to orders received. We engage our suppliers to report their data and set targets to reduce emissions.

In 2021, 168 investors from 28 countries invited companies with a high environmental impact to disclose data through CDP, the non-profit global environmental disclosure platform. The companies engaged cover over US$28 trillion in global market capitalization and are estimated to collectively emit more than 4,700 megatonnes (Mt) of carbon dioxide equivalent (CO2e) annually.

CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. CDP's platform is one of the richest sources of information globally on how companies and governments are driving environmental change. 

For further information, please contact: 
Hanna Rutanen, Head of Communications, KONE Corporation, tel. +358 41 507 1361, media@kone.com
Hanna Uusitalo, Environmental Director, KONE Corporation, tel. +358 50 533 3177

Read more: 

CDP 2021 full list of Supplier Engagement Leaders
KONE's Sustainability Report 2020 (pdf)
Sustainability on our website
KONE Supplier Code of Conduct

Previous press releases are available at https://www.kone.com/en/news-and-insights/releases/ including: 

December 7, 2021: KONE recognized with prestigious 'A' score for climate change
December 8, 2020: KONE awarded CDP 2020 'A' score for corporate sustainability leadership 
September 28, 2020: KONE sets ambitious greenhouse gas reduction targets and pledges to have carbon neutral operations by 2030 
February 4, 2020: KONE awarded as Supplier Engagement Leader by CDP 
January 22, 2020: KONE recognized for outstanding climate and sustainability performance by both CDP and Corporate Knights 

About KONE
At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2021, KONE had annual sales of EUR 10.5 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.kone.com

KONE_press release_CDP 2021 Supplier Engagement Rating (SER) Leaderboard

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