Marimekko Corporation, Press Release, 23 January 2025 at 3.00 p.m. EET
Marimekko's emission reduction targets approved by the Science Based Targets initiative
The Science Based Target initiative (SBTi) has approved Marimekko's near-term science-based emissions reduction targets. Marimekko's new targets to reduce greenhouse gas emissions in its value chain, in line with the UN Paris Climate Agreement, are a logical step in the company's long-term work to reduce its environmental impact.
"We believe that, in the future, timeless, functional and high-quality products will be made in balance with the environment and in line with the principles of circular economy. We also believe that determined sustainability efforts strongly support Marimekko's long-term success. The science-based emission reduction targets we have now set are an important tool in our work to further reduce our environmental impact," says Marimekko's President and CEO Tiina Alahuhta-Kasko.
Marimekko commits to reduce by the end of 2030 from a 2022 base year:
- Absolute scope 1 and 2 GHG emissions 42%
- Scope 3 GHG emissions 51.6% per million EUR value added
The target boundaries include land-related emissions and removals from bioenergy feedstocks.
Marimekko will share more about the science-based emission reduction targets extending by the end of 2030 and the means to achieve them in its sustainability report, which will be part of the Board of Directors' Report 2024 and published in March during week 12.
Determined work to reduce greenhouse gas emissions
Marimekko has calculated the carbon footprint of its entire value chain (scope 1-3) since 2019 in accordance with the Greenhouse Gas Protocol standards. In the current sustainability strategy period for 2021-2025, the company had by the end of 2023 reduced the scope 1 and 2 emissions of its own operations by more than 70 percent compared to 2019. The most significant action contributing to this achievement has been the transition to renewable energy at Marimekko headquarters and printing factory located in Helsinki, Finland.
For the current sustainability strategy period, the company has also set targets for reducing the intensity of its greenhouse gas emissions (scope 3) in the value chain relating to purchased textile materials and logistics. The most important action in reducing the intensity of scope 3 emissions has been the transition to less emission-intensive materials in line with the company's material strategy.
Marimekko announced its commitment to the Science Based Targets initiative in September 2022, at the same time as the company's Board of Directors confirmed determined sustainability work as one of the five strategic success factors of Marimekko's business strategy.
Read more about Marimekko's sustainability work and strategy: https://company.marimekko.com/sustainability/
Further information:
Tytti Kotipelto, Marimekko Communications
Tel. +358 40 511 5172
tytti.kotipelto@marimekko.com
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Marimekko is a Finnish lifestyle design company renowned for its original prints and colors. The company's product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. In 2023, the company's net sales totaled EUR 174 million and comparable operating profit margin was 18.4 percent. Globally, there are roughly 170 Marimekko stores, and online store serves customers in 35 countries. The key markets are Northern Europe, the Asia-Pacific region and North America. The Group employs about 470 people. The company's share is quoted on Nasdaq Helsinki Ltd. www.marimekko.com
