The Science Based Targets Initiative (SBTi) has now verified Hiab’s commitment to reaching net-zero greenhouse gas emissions across its entire value chain by 2050. Hiab’s ambitions are aligned with the 1.5°C pathway of the Paris Agreement. 

“Our ambition is to drive the transition towards more sustainable load handling solutions together with our customers and partners. SBTi validation confirms that our targets are robust and aligned with climate science, and supports our focus on delivering both environmental and business value”, says Scott Phillips, President and CEO, Hiab.

Validated targets and clear plan for Hiab

Hiab previously had SBTi-validated climate targets in place as part of former Cargotec. In 2025, the company set the below updated targets, including net-zero commitment, for Hiab as an independent company, using 2022 as its base year:

• Own operations (Scopes 1 and 2): Reduce absolute greenhouse gas emissions by 50 percent by 2030 and 90 percent by 2040
• Value chain (Scope 3): Reduce absolute greenhouse gas emissions by 25 percent by 2030 and 90 percent by 2050
• Achieving net-zero emissions across the value chain by 2050.

Hiab has created a climate transition plan, published in its 2025 Sustainability statement, that provides a clearly defined, measurable route to achieving the targets. The transition plan presents various levers for reducing emissions in the needed timeframe, such as switching to fossil-free energy, increasing the share of recycled steel and designing equipment that uses low-emission energy sources. In addition, by expanding its eco portfolio, Hiab continues to provide customers with the low-emission equipment and circular services needed to decarbonise the load-handling industry.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis. A partnership between CDP, the UN Global Compact, WRI, and WWF, the SBTi defines and promotes best practice in science-based target setting.

For further information, please contact:
Johanna Pirinen, Vice President Sustainability, johanna.pirinen@hiab.com, tel. +358 40 099 3466

Further information for investors:

Aki Vesikallio, Vice President, Investor Relations, aki.vesikallio@hiab.com, tel. +358 40 729 1670