Progress on Sustainability360° agenda
Valmet sustainability targets and achievements
Valmet supports the United Nations (UN) Sustainable Development Goals (SDGs). We have identified the SDGs on which Valmet can have the most positive impact, or to minimize our negative impact. Our Sustainability360° Agenda and related targets have been aligned with selected SDGs.
|
TARGET |
KEY PERFORMANCE INDICATOR |
2023 (2022) PROGRESS |
PROGRESS DESCRIPTION |
RELEVANT SDGS |
|
20% reduction of CO₂ emissions from |
CO₂ emissions from purchased goods and services (Scope 3 category 1), 1,000 tCO₂e |
1,736 (2,237) |
In 2023, Valmet’s absolute CO₂ emissions from direct purchased goods and services decreased by 22 percent. |
|
| CO₂ emissions from transportation(Scope 3 category 4), 1,000 tCO₂e |
166 (114) |
In 2023, Valmet’s absolute CO₂ emissions from transportation increased due to mergers. We continued to develop freight planning by referring ocean freight over air transportation. The number and weight of our air shipments decreased by 12.5 percent compared to 2022. |
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| Number of suppliers engaged |
78 (14) |
In 2023, as part of the Valmet Climate Program, we engaged 78 suppliers to support them to reduce energy consumption and CO₂ emissions. All key and main suppliers of physical goods, around 150 suppliers, will be engaged by the end of 2024. |
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80% reduction of CO₂ emissions from own operations by 2030 |
% reduction in Scope 1 and Scope 2 (market-based) CO₂ emissions, 1,000 tCO₂e |
-51 (-34) |
In our own operations, emissions from fuels, heating, and electricity in Valmet’s offices and production units around the world have decreased by 41 percent since the baseline year 2019. During 2023, all electricity in Finland and Sweden, representing 60 percent of Valmet’s total consumption, was purchased as carbon neutral. |
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enable 100% carbon-neutral production for our customers by 2030 |
% of technologies enabling carbon-neutral production |
100 |
The target of enabling carbon-neutral production for all Valmet’s pulp and paper customers was achieved well ahead of schedule in 2023 for customers with access to fossil-free energy sources. The work continues by developing solutions that do not depend on the energy source and improving the energy efficiency of the current technologies. |
| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
|
10% reduction in energy consumption from |
% reduction in energy consumption |
-8.6 (-7.7) |
Implementation of improvements in energy efficiency continued across Valmet locations, driven through energy management certifications, audits and surveys and focused actions to reduce energy use. |
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75% waste from own operations diverted |
% waste diverted from disposal |
78 (65) |
Waste reduction actions continued in locations, with the focus in 2023 on implementing targets and plans in recently acquired and merged operations. |
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20% reduction in water consumption from |
% water consumption change |
+1 (+11) |
Water consumption reduction actions continued in locations, with the focus in 2023 on implementing targets and plans in recently acquired and merged operations. |
| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
|
35 ecosystem project applications by 2025 |
Number of ecosystem project applications |
21 (10) |
As a part of Valmet's Beyond Circularity R&D program, Valmet is creating an ecosystem to innovate, renew and enable customer industries in the shift to carbon neutrality and to facilitate the green transition. In 2023, 21 ecosystem project applications were submitted within the program. |
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| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
|
1% increase in engagement point by 2023 |
OurVoice 2023 Valmet engagement index, |
70 (69) |
Valmet carried out its sixth OurVoice employee survey in 2023. In total, 80 percent of employees participated in the survey. Overall employee engagement improved slightly, reaching the goal set for 2023. |
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increase the share of women in science, technology,
|
% of women in STEM positions |
11.9² (12.0) |
We continued to work towards our target in 2023. During the year, we participated in local events e.g. in Finland, where we participated in several Shaking up tech events held at universities and aimed at inspiring young women and gender minorities to consider technology as a study field and career choice. |
| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
|
0 high-consequence injuries by 2030 |
Number of injuries leading to permanent disability or more than 6 months’ absence from work |
Employees 4 (5) External workers 3 (2) |
In 2023, two injury prevention programs were launched on hand safety and working at heights. Our minimum safety standards in 12 high-risk activities were also updated during the year. |
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4 HSE walks, inspections and conversations per manager per year in 2025 |
Number per manager per year |
8.7 (4.7) |
We have personal targets and provide instruction and training to support managers in more visible safety leadership. The number of HSE walks and other activities that promote a strong safety culture increased significantly. |
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4 HSE event reports per employee in 2025 |
Number per employee each year |
3.2 (2.6) |
Everyone is continuously encouraged to keep a strong safety mindset and remain aware of unsafe situations and report them. HSE event reporting increased during the year. |
| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
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Continue implementing social responsibility programs in all Valmet Areas through sponsorships and donations to local communities and affected stakeholders. |
Monetary value of sponsorships and donations, EUR k |
327 (415) |
Valmet’s sponsorships and donations and related social responsibility programs focus on supporting non-profit organizations in areas where Valmet operates in the following key themes: ”Towards the future with science,” ”Protecting the planet for next generations” and ”Equal opportunities for wellbeing. |
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| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
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100% of white-collar employees completed |
% of white-collar employees completed the Code of Conduct e-learning course |
892 (87) |
In late 2023, Valmet updated its Code of Conduct. In 2024, Valmet will focus on promoting and informing about the updated Code and related training to old and new Valmeteers to be able to reach the target of 100% by 2025.
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80% of employees work according to certified |
% of employees working in locations certified to the ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards |
ISO 9001:2015: 82 (85) ISO 14001:2015: 77 (78) ISO 45001:2018: 75 (75) |
In 2023, four new locations were certified and the Flow Control business line certificate merged to Valmet’s global multisite ISO certificate, which now covers total 142 locations. However, overall certification coverage decreased
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1 human rights impact assessment per year until 100 percent personnel in high-risk countries covered |
% of personnel covered by human rights impact assessment in high-risk countries |
84 (79) |
Since 2017, as a part of Valmet's human rights due diligence process, Valmet has conducted five human rights impact assessments in its locations located in high-risk countries. These five impact assessments in Thailand, Indonesia, China, India and latest in Poland covers 84 percent of Valmet's personnel in high risk countries. |
| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
|
40 supplier sustainability audits minimum conducted |
Number of supplier sustainability audits |
43 (45) |
We reached the target with 43 conducted supplier sustainability audits with a third-party auditor to monitor suppliers’ compliance with Valmet’s Sustainable supply chain policy. |
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95% of suppliers by spend have signed |
% of suppliers by spend signed Valmet's Sustainable Supply Chain policy |
91 (82) |
We continued to screen our existing suppliers in 2023. By the end of 2023, 91 percent of our existing suppliers had signed the policy. |
| TARGET | KEY PERFORMANCE INDICATOR | 2023 (2022) PROGRESS | PROGRESS DESCRIPTION | RELEVANT SDGS |
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Dow Jones Sustainability Index membership |
Inclusion in Dow Jones Sustainability Index |
Yes (Yes) |
In 2023, Valmet was included in the Dow Jones Sustainability World and Europe Indices (DJSI) for the tenth consecutive year. |
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Leadership level score in CDP Climate Change |
CDP score |
A (A-) |
Valmet was included on the best A -list in CDP’s Climate 2023 ranking. | |
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EU Taxonomy aligned activities |
% of Valmet’s net sales (turnover), Capex and Opex taxonomy-aligned |
Turnover: 5 (5)
1 (2)
1 (2) |
In 2023, Valmet had taxonomy-eligible activities in the following economic activities: CCM 3.1 Manufacture of renewable energy technologies, CCM 3.6 Manufacture of other low-carbon technologies, CE 4.1 Provision of IT/OT data-driven solutions, and CE 5.1 Repair, refurbishment and remanufacturing. |
¹ Baseline 2019.
² Not including employees from the new Tissue Converting business unit.