Marimekko's Green Initiatives Gain Momentum
Marimekko Corporation recently celebrated a significant achievement as the Science Based Targets initiative (SBTi) approved its near-term science-based emissions reduction targets. These new targets are vital in Marimekko's ongoing efforts to align its operations with the UN Paris Climate Agreement, marking a pivotal step in the company’s mission to minimize its environmental footprint.
Leadership in Sustainability
According to Tiina Alahuhta-Kasko, Marimekko's President and CEO, the approval of these targets is not just a milestone but a foundational element of the company’s long-term strategy towards sustainable growth. Alahuhta-Kasko stated, "We envision a future where high-quality, functional products coexist harmoniously with the environment, underpinned by the principles of the circular economy. Our commitment to sustainability is intertwined with our long-term corporate success. The science-based emission reduction targets we have established will aid us in our goal to lessen our ecological impact further."
Specific Targets Set for 2030
Marimekko has set ambitious targets for itself, aiming for substantial reductions in greenhouse gas emissions by 2030 compared to a 2022 baseline. Notably, the company plans to achieve a 42% reduction in absolute scope 1 and 2 greenhouse gas emissions, as well as a 51.6% reduction in scope 3 emissions per million euros of value added. The target boundaries take into account emissions from land use and removals associated with bioenergy feedstocks.
Transparency in Sustainability Reporting
Further details about these science-based emission reduction targets and how the company plans to achieve them will be disclosed in Marimekko’s sustainability report, set to be published in March, during the 12th week of the year. The sustainability report will be a fundamental part of the Board of Directors' Report for 2024, ensuring stakeholders are informed of the progress made towards these critical goals.
Significant Emission Reduction Progress
Since incorporating carbon footprint assessments for its entire value chain back in 2019, Marimekko has made impressive strides. By the end of 2023, the company had successfully reduced scope 1 and 2 emissions from its operations by over 70% from 2019 levels. This achievement is largely credited to the shift toward renewable energy sources at Marimekko's headquarters and printing facility located in Helsinki, Finland.
Innovative Material Usage
Part of Marimekko's strategy for this current period includes initiatives to lower greenhouse gas emissions in its supply chain (scope 3), particularly concerning purchased textile materials and logistics. The company is focusing on sourcing less emission-intensive materials as part of its overarching material strategy, thereby decreasing the intensity of its scope 3 emissions.
Sustainable Business Strategy
Marimekko’s dedication to sustainability took a formal step in September 2022, when the company committed to the Science Based Targets initiative. This initiative complements the company's strategic priorities, which include a strong focus on sustainability as one of the five key factors for business success identified by the Board of Directors.
About Marimekko Corporation
Known for its distinctive prints and vibrant color palettes, Marimekko is a Finnish lifestyle design brand that has carved a niche in the fashion and home decor industries. Founded in 1951, the company offers a diverse range of products, including clothing, bags, accessories, and home décor items. In 2023, Marimekko's net sales reached EUR 174 million, with a remarkable 18.4% operating profit margin. With approximately 170 stores worldwide and a robust online presence serving 35 countries, Marimekko continues to thrive in key markets such as Northern Europe, the Asia-Pacific region, and North America. Marimekko Corporation is listed on Nasdaq Helsinki Ltd.
Frequently Asked Questions
What are Marimekko's emission reduction targets?
Marimekko aims to achieve a 42% reduction in absolute scope 1 and 2 GHG emissions and a 51.6% reduction in scope 3 emissions per million EUR value added by 2030.
How does Marimekko plan to achieve these targets?
The company is implementing strategies such as transitioning to renewable energy and sourcing less emission-intensive materials in its supply chain.
When will further details about the sustainability report be available?
The sustainability report detailing the emission reduction targets will be published in March during the 12th week of the year.
What has Marimekko accomplished in terms of emissions to date?
By the end of 2023, Marimekko reduced its scope 1 and 2 emissions by over 70% compared to 2019 levels.
Where can I find more information about Marimekko?
For additional details about Marimekko's sustainability efforts and product offerings, visit their official website.
