Patria is committed to the United Nations Sustainable Development Goals (SDGs) and are a signatory to the United Nations Global Compact.
Climate change is material sustainability topic for Patria and is related to UN Sustainability Development Goal (SDG) number 12 “Climate action”.
Patria has been committed to the Science Based Target initiative since 2022 and to promote sustainable development in its operations by means of concrete measures. The Science Based Targets initiative (SBTi) is a partnership between the World Wide Fund for Nature (WWF), the World Resources Institute (WRI), the United Nations Global Compact (UNGC), and the Carbon Disclosure Project (CDP). Its purpose is to enable businesses to set ambitious emission reduction targets in line with the latest climate science. Read more at SBTi.
Patria has received final approval in 2024 for its near-term targets 2030. These targets align with the Paris Agreement and support the ambition to limit global warming to 1.5 degrees Celsius.
Patria’s validated emission reduction near-term targets 2030
- Reduce absolute scope 1 and 2 (own operations) emissions by 42% by 2030 compared to the baseline year 2023
- Reduce absolute scope 3 (value chain) emissions by 25% by 2030 compared to the baseline year 2023
The targets apply to the entire Patria Group, including all subsidiaries and the Millog Group. The biggest impact on lowering emissions comes from co-operation with the value chain, as it represents majority of Group’s greenhouse gas (GHG) emissions. Key measures to reduce own emissions include sustainably produced electricity and heating and reducing emissions in our own energy production.
Patria’s climate impacts for scope 1 and 2 consist of greenhouse gas emissions from electricity, heating and fuels. Key measures to reduce emissions include increasing use of sustainably produced electricity and heating in locations where it is possible, and reducing emissions in our own energy production. Other actions include use of renewable fuels, which we are currently piloting in military vehicles. With energy savings in property maintenance and everyday life, we can also lower our carbon footprint.
Patria’s most significant climate impacts derive from the indirect supply chain emissions. Patria’s validated SBTi target is to reduce absolute Scope 3 greenhouse gas emissions from purchased goods and services, waste generated in operations, use of sold products, end-of-life treatment of sold products and investments by 25% by 2030 from a 2023 base year. Key measures to reduce Scope 3 emissions require co-operation with value chain to reduce life-cycle emissions, increase of sorting and recycling rates in our operations and reduction of waste amounts and emission reductions of our investment.
Patria reports of the progress of its climate strategy according to Greenhouse Gas (GHG) protocol in the annual reports.