Supporting emission reduction targets

Leslah Garland 30 March 2022  

Sponda has announced it has committed to science-based climate targets set by the Science Based Targets initiative (SBTi). In line with the Paris Agreement, the initiative aims to limit global warming to 1.5 degrees Celsius and achieve net-zero emissions by 2050. 

The Science Based Targets organisation comprises CDP (Carbon Disclosure Project), a platform for increasing transparency of carbon related disclosures, the UN Global Compact initiative, the World Resource Institute (WRI), and the environmental organisation WWF. The global initiative involves more than 2,000 companies, more than half of which have already been approved for their targets.

Sponda’s Head of ESG, Pirkko Airaksinen, said: “This is a significant commitment for us and it is important that alongside the thousands of businesses already involved in this, we achieve our climate targets based on science and in line with best practices in the sector. By making this commitment, we hope that other Finnish companies will be encouraged to join global efforts to fight climate change.”

Sponda received approval from Science Based Targets for its own emissions reduction targets on 24 March 2022. The aim is to commit not only to reducing emissions from energy consumption, but also to minimising emissions throughout the value chain, such as construction and property maintenance.

Reducing emissions is central to Sponda’s own climate target, which aims for full carbon neutrality for in-use energy consumption by 2030. Sponda is aiming to reach this target for example by reducing its own energy consumption and increasing the production and acquisition of renewable energy.

Other examples of Sponda’s sustainability efforts include Finland’s largest roof-powered solar power plant, which is on the roof of the Elo shopping centre, and the construction of a wind farm in Ostrobothnia, which will generate 100% of the energy used in Sponda’s properties with emission-free wind power. Sponda has also acquired environmental certifications for all five of its shopping centres and aims to certify all of its properties in Helsinki city centre, as well.

Sponda is one of Finland’s leading real estate asset management companies