EQS-News: KION commits to net zero and to the Science Based Targets initiative

KION commits to net zero and to the Science Based Targets initiative

• Strategic sustainability goal of net zero before 2050
• KION commits to the Science Based Targets initiative (SBTi)
• Short-term and long-term targets to be validated by SBTi until 2024

 Frankfurt/Main, July 6, 2023 – KION GROUP AG commits to the Science Based Targets initiative (SBTi), adopting a methodological framework towards the goal of the Paris Agreement on climate change, which aims to limit global temperature rise to 1.5°C. Through the SBTi, KION establishes the long-term climate target of achieving net-zero greenhouse gas emissions along its value chain (Scope 1, 2, and 3) before 2050, as well as corresponding interim targets by 2030. KION aims for validation of the targets in 2024.

"With our commitment to the SBTi, we are taking a transparent and clear path to reduce our greenhouse gas emissions. This underscores our commitment for climate-neutral business practices, especially towards our customers and suppliers. While we are already diligently working on our own emissions reductions, close collaboration with our business partners is crucial to achieve effective reductions across the entire value chain," says Valeria Gargiulo, Chief People & Sustainability Officer (CPSO) of KION. "Sustainability is a central part of the KION 2027 strategy. The global material handling industry has tremendous potential for climate protection, and as a leading global company, we have a special responsibility."

In 2022, KION already achieved its first target of reducing its energy-related emissions (Scope 1, 2, 3.3) by 30 percent compared to 2017, set to be accomplished by 2027. Over the years, the scope has been expanded to include the value chain, and a target has been developed that fully aligns with the SBTi criteria in preparation for a formal commitment. On the net-zero pathway, KION currently aims to achieve an absolute linear reduction of greenhouse gas emissions (in CO2 equivalents) by 4.2 percent per year in Scope 1 and 2, and by 2.5 percent per year in Scope 3, compared to 2021, until 2030. As stated in the KION GROUP AG sustainability report, these targets were surpassed in 2022. The KION Group's climate management is currently rated "Leadership" ("A-") by the CDP Climate Rating.

The Company

The KION Group is one of the world’s leading providers of industrial trucks and supply chain solutions. Its full spectrum of services includes industrial trucks, such as forklift trucks and warehouse trucks, as well as integrated automation technologies and software solutions for the optimization of supply chains—including all related services. The KION Group’s solutions ensure the smooth flow of materials and information in customers’ warehouses, production plants, and distribution centers in over 100 countries.

The MDAX-listed group is the largest manufacturer of industrial trucks in the EMEA region based on the number of units sold in 2021. Based on revenue for the year 2021, the KION Group is the leading overseas manufacturer in China, and including domestic manufacturers, the third-largest supplier there. The KION Group is also one of the world’s leading warehouse automation providers, based on 2021 revenue.

At the end of 2022, more than 1.7 million industrial trucks from the KION Group were in use by customers from all manner of sectors and of varying sizes on six continents. The Group currently employs over 41,000 people and generated revenue of approx. €11.1 billion in the 2022 financial year.

You can access up-to-date image material for the KION Group via our image database https://mediacenter.kiongroup.com/categories as well as on our respective brands’ websites.

(jw)

Disclaimer
 
This communication and the information contained herein are for informational purposes only and do not constitute a prospectus or an offer of securities for sale in the United States or any other jurisdiction, or a solicitation of an offer to buy securities in the United States or any other jurisdiction.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results may deviate significantly from the results currently expected, and due to various risk factors and uncertainties such as changes in the business, economic, or competitor situation, changes in legislation, outcomes of technical studies, exchange rate fluctuations, uncertainties regarding litigation or investigative proceedings, and the availability of financial resources. This particularly applies in respect of currently unforeseeable further developments in connection with the war in Ukraine, and the geopolitical consequences of the war, and in respect of the coronavirus pandemic and the resulting impact on KION GROUP AG and its subsidiaries and on the wider economic and political environment in the markets in which KION GROUP AG and its subsidiaries operate. We do not assume any responsibility for updating the forward-looking statements contained in this release.
 

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Raj Junginger
Senior Manager Investor Relations
Telephone +49 (0)69 201 107 942
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