Helen receives validation from the Science Based Targets initiative for its updated climate targets
Helen has updated its science‑based climate targets and has received validation from the Science Based Targets initiative (SBTi). As part of the update, Helen commits to achieving net‑zero greenhouse gas (GHG) emissions by 2040. The validated targets support the company’s long‑term work to mitigate climate change through reducing greenhouse gas emissions.
The updated near‑term climate targets replace Helen’s previous targets extending to 2030, which were validated by the SBTi in 2022, making Helen the first Finnish energy company to receive SBTi validation. In addition, Helen has set new long‑term climate targets extending to 2040. Separate targets have also been defined for Scope 3 emissions for 2030 and 2040.
All near‑term and long‑term targets are set relative to a 2019 base year and include the emissions of Väre Ltd, which joined the Group at the turn of 2025–2026. The Scope 3 emissions included in the targets accounted for 92% of Helen’s Scope 3 emissions in the 2019 base year.
Helen’s near‑term climate targets by 2030:
- 77% reduction in Scope 1 and 2 GHG emissions from power and heat generation per MWh
- 77% reduction in Scope 1, 2 and 3* GHG emissions from all-sold electricity and heat per MWh
- 70% reduction in absolute Scope 3** GHG emissions from fuel‑ and energy‑related activities
Helen’s long‑term climate targets by 2040:
- 97% reduction in Scope 1 and 2 GHG emissions from power and heat generation per MWh
- 97% reduction in Scope 1, 2 and 3* GHG emissions from all-sold electricity and heat per MWh
- 90% reduction in absolute Scope 3** GHG emissions from fuel‑ and energy‑related activities
In addition to the long‑term targets, Helen aims to achieve net‑zero GHG emissions across its value chain by 2040. Achieving the net‑zero target requires that any remaining residual emissions are neutralised with permanent carbon removals from 2040 at the latest.
The targets validated by the SBTi are aligned with the Paris Agreement and aim to limit global warming to 1.5 degrees Celsius.
*For Scope 3 emissions, the target encompasses GHG emissions from Helen’s associated companies’ energy production as well as emissions related to the production of purchased and resold electricity and heat. This corresponds to Helen’s Scope 3 emissions category 3 (fuel and energy-related activities not included in Scope 1 or Scope 2 emissions) activity D emissions.
**The target encompasses upstream emissions of fuels consumed by Helen. This corresponds to Scope 3 emissions category 3 (fuel and energy-related activities not included in Scope 1 or Scope 2 emissions) activity A emissions.