Our new strategic partnership, Nokia’s latest net zero commitments and the trial of the first electric coach service

By Paul
Posted on March 1st 2024

Nokia commits to net zero emissions by 2040 Nokia Building

Nokia announced this week a commitment to reducing its total global greenhouse gas emissions (GHG) to net zero by 2040. This target looks to accelerate its previous target by ten years and put it ahead of the Paris Agreement target of net zero by 2050.

“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. That journey will only accelerate, as Nokia launches more energy efficient solutions in next generation mobile, fixed, IP and optical networks and in software, silicon and systems. 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.” - Pekka Lundmark, President and CEO of Nokia.

Nokia was the first telecoms vendor to have its 2030 Science Based Target (SBT) validated by the SBTi in 2017 and was among the first 100 companies across all sectors to do so. It recalibrated its 2030 targets in 2021 in line with a 1.5°C warming scenario and committed to reducing its greenhouse gas emissions by 50% by 2030 from a 2019 baseline.

FuturePlus enters into a strategic partnership with EthicalFin

FuturePlus and EthicalFin partnership We're excited to announce that FuturePlus has entered into a strategic partnership with EthicalFin, to champion sustainable finance. “We are thrilled to announce our strategic partnership with EthicalFin, uniting our expertise to champion sustainable finance. Together, we are committed to driving positive environmental and social impact through innovative solutions and ethical financial practices.” - Mike Penrose, Co-Founder, FuturePlus

“FuturePlus offers flexibility and adaptability, making it suitable for companies of all sizes seeking to go beyond a mere tick-the-box approach to ESG reporting and embrace more ambitious targets in their commitment to impact assessment.” - Alessandro Mele , Founder & CEO, Ethical Fin.

EthicalFin's commitment to responsible and impactful investing, aimed at supporting sustainability in its broadest sense is complemented by FuturePlus’ innovative impact platform.

Football Association introduces female health plan

The Football Association in the UK has introduced a pioneering programme that makes female health training mandatory in England's two top divisions of women’s football.

With the new mandate, all Women's Super League and Championship clubs will have to appoint a health lead to support players and their welfare. Partnering with female sport specialists The Well HQ, the support plan also includes courses and best practice guidelines on pregnancy, the menstrual cycle and pelvic health.

“Today is a day to celebrate football and their commitment to giving professional clubs in England the resources and support that they need to embed female health across their entire organisation, whether you're at the top of the table or have the last spot in the championship.” - Baz Moffat - CEO and Co-Founder at The Well HQ.

Creating Sustainable Growth: Private Capital at Work

FuturePlus member and The Sustainability Group investor, Graphite Capital features in the newly published edition ‘Creating Sustainable Growth: Private Capital at Work’ by British Private Equity & Venture Capital Association (BVCA). The report, which features an interview with Markus Golser, Joint Managing Partner and head of ESG at Graphite Capital, looks at how private capital can help create sustainable growth across investee businesses.

🔗 Read the report here.

Two thirds of UK energy companies considering moving investments abroad

The UK Sustainable Investment and Finance Association has reported that 63% of UK energy companies have moved, or plan to move, investments out of the UK to a market more supportive of their sustainability goals. The UKSIF boasts over 300 members managing over £19 trillion in global assets under management. The report questioned 100 decision makers across the UK energy sector, representing £700bn in turnover, on the current opportunities and challenges of decarbonising the UK energy system. 87% agreed that changes to UK policy are essential to make the UK an attractive investment location for green energy.

🔗 Read the report here.

First electric coach service to be trialled

The first electric coach service will be trialled later this year in England and Wales with routes between London, Bristol and Newport.

Led by travel tech firm, Flix, as part of a three month trial starting from June, the 46-seat coach includes USB charging points, free wifi and a toilet, with tickets starting from £2.99. The coach is expected to save 352 kg of carbon emissions per day compared to a diesel-fuelled vehicle. If the programme began to run daily service over a 12-month period, it could remove close to 18,000 car journeys from English and Welsh roads.

“As the first electric long-distance coach service in England and Wales, we’re sending a powerful message about our continued commitment to bring even more sustainable travel options for the public, and our determination to drive forward the change needed to reduce the impact on the climate.” - Andreas Schörling, Managing Director of FlixBus UK.