TK Elevator publishes its second sustainability report, showing strong progress towards ambitious ESG targets

• In its second sustainability report, “Acting today to build a sustainable future”, TK Elevator shows significant progress towards the company’s ESG targets
• In 2021/22, GHG emissions from the company’s own activities (Scope 1 and 2) were reduced by 21% compared to the base year 2019, while more than 59% of consumed electricity came from renewable sources, reaching 88% in the company’s factories worldwide
• TK Elevator’s sustainability commitment is recognized by leading ESG rating agencies, including CDP, Sustainalytics and EcoVadis

TK Elevator, one of the global leaders in the elevator industry, has published its second sustainability report. Following its inaugural publication last year, the report provides transparency on the strong progress made towards the company’s ESG targets and underlines the importance of sustainability as an integral part of its strategy, reflected in the title “Acting today to build a sustainable future”.

“At TK Elevator, we are part of the solution to enable sustainable urban mobility. We believe that it’s vital for us to advance our strategy of creating sustainable value and have a transparent dialogue about our important journey,” says Uday Yadav, CEO of TK Elevator.

In the business year 2021/22, TK Elevator significantly advanced in the execution of its decarbonization roadmap to deliver on its net zero commitment by 2050. This includes the achievement of key milestones, such as a substantial reduction in GHG emissions from the company’s own activities (Scope 1 and 2) by 21% compared to the base year 2019.

As a member of the global RE100 (Renewable Electricity) initiative, TK Elevator is also committed to sourcing 100% renewable electricity by 2030. In 2021/22, 59% of the company’s consumed electricity came from renewable sources (+13 percentage points compared to last year) and 88% of the electric power used in its factories worldwide came from renewable sources (+10 percentage points compared to last year).

In addition to climate protection, social responsibility and the continuous improvement of occupational safety remain key priorities for TK Elevator: In 2021/22, the company further strengthened its safety approach through a global initiative and continued its successful supplier audit campaign.

The approach of building sustainability into TK Elevator’s fabric to create value and positively impact all its stakeholders is especially well represented by EOX, the company’s recently launched green and natively digital elevator. It brings premium eco-efficiency features to the standard low and mid-rise market – reducing energy consumption by up to 28% and thereby qualifying for the highest (Class A) energy efficiency rating.

TK Elevator’s sustainability efforts continue to be highly recognized by leading ESG rating agencies. This includes being featured in the CDP A-List for the third consecutive year and in the Sustainalytics’ 2023 Top-Rated ESG Companies List, as well as the EcoVadis Gold Medal rating for the top 5% of all companies assessed.

THE SUSTAINABILITY REPORT can be downloaded here.