KION GROUP AG’s climate targets successfully validated by the Science Based Targets initiative

• SBTi confirms the science-based near-term (2030) and long-term (2050) climate targets
• Valeria Gargiulo (CPSO at KION): “A major milestone in our sustainability strategy”
• Plans for even closer cooperation with customers and suppliers

Frankfurt am Main, December 5, 2024 – KION GROUP AG’s climate targets have been validated by the Science Based Targets initiative (SBTi). In , KION undertook to achieve net-zero greenhouse gas emissions throughout its value chain (Scopes 1, 2, and 3) by no later than 2050. This target was based on the framework developed by the SBTi.

The SBTi offers companies a science-led basis for setting and validating climate targets. The framework encompasses both near-term and long-term targets for reaching net-zero greenhouse gas emissions by no later than 2050 and achieving the target in the United Nations’ Paris Agreement of limiting global warming to 1.5°C. KION’s planned emissions reductions have now been confirmed by the SBTi.

“The validation of our climate targets by the Science Based Targets initiative represents an important milestone in our sustainability strategy and affirms the work that we have done so far,” says Valeria Gargiulo, Chief People & Sustainability Officer (CPSO) of KION GROUP AG. “This sends a clear signal for the future. If we are to achieve our near-term and long-term targets, we have to forge ahead with decarbonizing our entire value chain, both within the Company and in close cooperation with our customers and suppliers.”

Near-term targets (by 2030)

The Company’s near-term science-based targets require KION to reduce its Scope 1 and 2 emissions by 42 percent compared with the 2021 base year, to be achieved by 2030. In Scope 3, KION is committed to lowering greenhouse gas emissions from the use of products sold – by far the largest category in Scope 3 – by 25 percent by 2030.

KION has furthermore committed to lowering the greenhouse gas emissions from its own supply chain. In this context, the Company’s suppliers who together account for 5 percent or more of the emissions from the goods and services purchased by KION are also setting their own SBTi targets by 2029.

Long-term targets (by 2050)

In the long term, KION has committed to reducing Scope 1, 2, and 3 greenhouse gas emissions throughout its value chain by at least 90 percent compared with the 2021 base year, to be achieved by 2050. KION has also undertaken to permanently neutralize the residual unavoidable emissions (no more than 10 percent of the total) by 2050 in accordance with the SBTi requirements in order to reach net-zero greenhouse gas emissions.

Decarbonization throughout the value chain

Within KION’s own operations, the main levers for achieving the science-based targets are considered to be progressively switching over to energy from renewable sources for the Company’s vehicle fleet, premises, and production processes and carefully managing energy use.

Regarding Scope 3, KION is striving to make the procurement of goods and services climate-friendly by working closely with its suppliers.

Key customer-related levers include the proportion of electric-powered trucks and the proportion of trucks with lithium-ion batteries. Continually improving the energy efficiency of industrial trucks and supply chain solutions will also play a key role, as will dialogue with customers aimed at increasing awareness of shared decarbonization efforts – particularly in connection with electricity from renewable sources – and reducing the Company’s own greenhouse gas emissions.
 

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 2022. Based on revenue for the year 2023, 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 2023 revenue.

At the end of 2023, more than 1.8 million industrial trucks of the KION Group were in use by customers from all manner of sectors and of varying sizes on six continents. The group currently has more than 42,000 employees and generated revenue of approx. € 11.4 billion in the 2023 financial year.

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(DL)
 

Disclaimer 

This release and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.

This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ significantly from the results that are currently expected due to various risk factors and uncertainties such as changes in economic or industry-specific conditions, changes in the market environment or political situation, changes in domestic or international legislation, interest rate or exchange rate fluctuations, legal disputes and investigations, and the availability of financial resources. We do not assume any responsibility for updating the forward-looking statements in this release.

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