As per ESG Today, Nokia's previous net-zero objective was set for 2050 and the acceleration comes as the company announced a series of measures aimed at reducing its own operational emissions. Decarbonizing its facilities and car fleet are part of the GHG reduction goal of 50% across all three Scopes by 2030.

Scope 3 emissions are responsible for most of Nokia's carbon footprint, accounting for over 95% of the company's emissions from the use of products. Improving the energy efficiency of the company's products and solutions is one of the ways Nokia wants to achieve important CO2 emissions cuts.

Company officials also want to implement 100% renewable energy in all of its facilities by 2025, while helping supply chain partners transition to renewable power. Nokia also plans to achieve 95% circularity by 2030 for all of its operational waste.

Pekka Lundmark, President and CEO of Nokia, said that "our new emission reduction targets show that net zero is a business priority for Nokia. We already help our telecoms customers to decarbonize by building sustainable, high-performance networks, and we work with a rapidly growing range of enterprise partners to reduce emissions and improve productivity. By committing to net zero by 2040 we build on our previous climate targets as we look to create technology that helps the world act together."