Published on November 9, 2023, 5:07 am
Nokia has recently taken steps to enhance its ESG (Environmental, Social, and Governance) strategy by integrating it into its technology, solutions, and capabilities. This move is aimed at making a significant impact in areas where Nokia operates.
Drawing on its years of experience in sustainability programs and practices, Nokia has dedicated the past year to developing a comprehensive company-wide ESG strategy. The goal is to ensure that sustainability becomes an integral part of how Nokia approaches technology development and business decision-making.
To create this enhanced ESG strategy, Nokia has leveraged its portfolio strengths and tapped into the research conducted by Bell Labs. By doing so, Nokia aims to accelerate its positive impact on society, identify new value opportunities for customers, and deliver sustainable value creation for shareholders.
Nicole Robertson, Vice President for ESG at Nokia, explains that companies are beginning to see the interconnectedness between purpose and profit. As a result, they are actively seeking out effective ESG strategies that can address societal challenges while driving value creation.
Nokia’s enhanced ESG strategy focuses on five strategic areas of differentiation that drive tangible environmental and social benefits:
1. Environment: Nokia aims to become a leader in energy efficiency by optimizing its silicon, software, systems, energy orchestration, and green operations. In addition to improving energy efficiency in current networks like 5G-Advanced and 6G technologies through early engagement in standardization processes.
2. Industrial Digitalization: Nokia offers connectivity and digital solutions that transform physical industries into more sustainable, safe, and productive entities. Underpinning this focus is the “Green Digital” proposition within their Enterprise portfolio.
3. Security and Privacy: Ensuring security across products and services is a key priority for Nokia. They follow a “Design for Security” methodology in product development to embed security from the onset. Working closely with customers in critical telecom infrastructure sectors helps build secure networks adhering to national regulations while also evaluating network security resilience against real attack scenarios.
4. Bridging the Digital Divide: Nokia aims to address the digital divide with its diverse product portfolio. By engaging non-terrestrial network operators and fostering digital skills building solutions, Nokia strives to connect people in underserved areas.
5. Responsible Business Practices: Nokia is committed to driving responsible business practices both internally and throughout their value chain. This includes collaborating closely with customers and suppliers to address systemic environmental issues, mitigate technology misuse, advocate for responsible AI principles, uphold ethical standards, protect human rights, and enhance working conditions across operations.
Nokia believes it has a unique opportunity to tackle some of the world’s most significant challenges through connectivity and digitalization. With this enhanced ESG strategy, Nokia aims to maximize its positive impact by collaborating with customers and stakeholders.
In conclusion, Nokia’s focus on sustainable practices and proactive engagement in addressing societal challenges demonstrates their commitment as a responsible global technology company. By integrating ESG into their operations, Nokia is well-positioned to create long-term value while making a positive difference in the world.