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Friday, March 31, 2023

Nokia (NYSE: NOK) Visions 100% Green Electricity by 2025

Nokia Corporation (NYSE: NOK) has set its target to achieve 100% green electricity by 2025. Nokia has called for speeding up digitalization and green energy acceptance. The decision of Nokia has surfaced after the world leaders summoned in Glasgow, Scotland for the United Nations Climate Change Conference (COP26).

Nokia President and CEO Pekka Lundmark entered political, business, and civil society leaders at the conference. He called for speeding up the acceptance of green technology to achieve net-zero. President stated that there is no green without digital. Presently, only 30% of the world’s economy is digitalized, and there is a need that all the responsible parties achieve the remaining 70% to guarantee the world can reach net zero. 5G and related technologies play a crucial role in making other industries more sustainable.

Green Electricity

Furthermore, Nokia has set its target to accomplish 100% acquired electricity from renewable sources by 2025 to power its offices, R&D labs, and factories. While renewable energy is not currently accessible in all 120 countries where Nokia works, it will work with the wider ecosystem to make greater acceptance of sustainable electricity.

Additionally, Nokia has already pledged to cut its emissions by 50% across its value chain. It includes its operations, products in use, logistics, and final assembly supplier factories by 2030. Its obligations have been accepted by the Science-Based Targets initiative (SBTi) to be consistent with the Paris Agreement’s goal of limiting global warming to 1.5C.

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