Goal set at carbon-neutral construction – YIT publishes its updated climate targets

YIT Corporation Investor News 7 December 2022 at 9:00 a.m.

At YIT, sustainability is at the core of the strategy and a key element in all business operations. An essential part of sustainability is mitigating climate change. YIT has now updated its climate targets and created a carbon roadmap to reduce emissions. The updated targets are in line with the Paris Agreement. The agreement aims to limit global warming to less than 1.5 degrees Celsius by the end of the century.

”The transition to carbon-neutral construction requires strong commitment and concrete actions from the whole industry. We can make a significant impact on society and progress environmentally friendly activities of both our customers and society as a whole. Sustainability is a key part of our strategy, and we are now accelerating the change through even more ambitious targets", says Heikki Vuorenmaa, YIT President and CEO.

In its own operations (scope 1 and 2), YIT’s goal is to be carbon neutral by 2030. YIT commits to cutting value chain emissions (scope 3) by at least 30% by 2030. The targets are based on the latest climate science. The reference year is 2019 that preceded the COVID-19 pandemic.

The carbon roadmap paves the way towards carbon-neutral construction

YIT’s carbon roadmap contains four sets of measures that cover the entire construction life cycle from sales and design management to procurement and site operations.

In terms of its own operations, YIT has already succeeded in reducing emissions by more than 51% compared to 2019 by transitioning to renewable electricity with green certificates. Carbon neutrality also requires switching over to carbon neutral energy sources for the fleet and for the heating and cooling of own properties. Partners in the supply chain are challenged to contribute to achieving concrete emission reductions. In terms of building materials, this especially applies to concrete and steel products. The roadmap also covers developing the personnel’s environmental expertise and updating decision-making and bonus system criteria.

”We have an excellent understanding of the emission sources of our operations and the possibilities of influencing them through our own decisions. We have selected for the roadmap the measures that we estimate will have the biggest impact on the entire industry. Sustainability is already an integral part of our business. With the help of the roadmap, we can integrate environmental aspects even more closely into the core processes of our business”, says Juha Kostiainen, EVP, Urban Development and ESG.

YIT expects that the Science Based Targets initiative will validate the now announced climate targets by the end of 2023.

Further reading:
Download the climate targets and roadmap
Sustainability | YITGROUP.COM

Further information:
Samu Heikkilä, Investor Relations Manager, YIT Corporation, tel. +358 44 581 7979, samu.heikkila@yit.fi
Juha Kostiainen, Executive Vice President, Urban Development and ESG, YIT Corporation. Media inquiries through Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT Corporation

Tuomas Mäkipeska

Distribution: Nasdaq Helsinki, major media, www.yitgroup.com

YIT is the largest Finnish and a significant North European development and construction company. For 110 years, we have been creating better living environments for our customers: functional homes for sustainable living, future-proof public and commercial buildings and infrastructure for smoother flow of people, businesses and society. We employ 5,500 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2021 was EUR 2.7 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com