Helen updates its climate targets – aiming for net zero emissions by 2040
Helen is updating its science-based emissions reduction targets and committing to achieving net zero emissions by 2040. This decision strengthens Helen’s position as a responsible energy company and responds to society’s growing expectations for mitigating climate change.
The updated targets will replace the previous short-term science-based targets (SBT) set for 2030. In addition, Helen is setting a new long-term net zero target extending to 2040. To reach net zero emissions, the company is establishing a unified emissions reduction goal of at least 90% across all emission scopes (Scope 1, 2, and 3) by 2040. A separate specific target will also be defined for Scope 3 emissions. Achieving the net zero target will require offsetting any remaining emissions through permanent carbon removals starting no later than 2040.
Helen aims to receive official approval for the updated targets from the Science Based Targets initiative (SBTi) by the end of 2025.
In addition to the science-based emissions reduction targets, Helen currently has its own climate goal of achieving carbon-neutral energy production by 2030. The company also aims to phase out combustion-based energy production by 2040.
Helen was the first Finnish energy company to receive official approval from the SBTi for its emissions reduction targets in 2022. These targets are based on the Paris Agreement and aim to limit global warming to 1.5 degrees Celsius.
The SBTi is an international initiative that encourages companies to set science-based emissions reduction targets aligned with the goals of the Paris Agreement. The initiative was founded in 2015 by the UN Global Compact, CDP, World Resources Institute (WRI), and WWF.