Nokia aligns growth and financing strategy with ESG targets
Finnish telecoms firm Nokia has launched its ‘Sustainable Finance Framework’ designed to align its financing strategy and growth with its “independently assessed” environmental, social, and governance (ESG) targets.
Nokia launches Sustainable Finance Framework
By marrying its financing strategy with its ESG strategy – which focuses on five pillars: the environment, industrial digitalisation, security and privacy, bridging the digital gap, and responsible business practices – Nokia says it can embed sustainability throughout its organisation while creating long-term value for internal and external stakeholders.
Nokia chief financial officer (CFO) Marco Wirén says complementing the firms’ “enhanced ESG strategy” with the new framework is the “logical next step” in strengthening the connection between its ESG and financing strategies.
“We linked the margin of our €1.5 billion revolving credit facility to our sustainability targets already in 2019 and signed our first sustainability-linked guarantee facility in 2022,” he adds.
In particular, the firm is aiming to maintain its growth in data traffic while reducing its energy consumption, as well as reduce greenhouse gas emissions by 50% between 2019 and 2030 across its value chain.
