Kuehne + Nagel

Air Freight & Logistics / Marine

KNIN.SW

GBP 259 3.3

Share price

$ 31 bn

Market Cap

$ 32 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.35x the weighted average for S&P 500

FY2020

Primary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.9% weighted average for S&P 500

FY2021

Kuehne + Nagel aims to reduce all Scopes by 33% by 2030 from a base year 2019

This target is most likely outdated and the company appears to have already achieved it

<2°C

GHG emissions and Carbon intensity

Kuehne + Nagel reported Total CO2e Emissions - Location-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 310 Kt (-50 /-13.9% y-o-y). Also positively, carbon intensity fell to 14 t (-2.8 /-16.7% y-o-y).

Kuehne + Nagel's Scope 3 emissions tumbled to 13,200 Kt (-4,900 /-27.1% y-o-y). The decline accelerated compared to the CAGR of -11% since 4Q'18.

The company is committed to reducing all Scopes by 33% by 2030 from a base year 2019, which it appears to have already achieved as of 2020. This science-based target is aligned with Paris Agreement to limit global warming to <2°C above pre-industrial levels.

Kuehne + Nagel aims to achive carbon neutrality across its entire value chain (all Scopes) in 2030. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Date	Total CO2e emissions (location-based Scope 1 & 2) (Kt)	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2020Q4	310	13,200	22,185	14
2019Q4	360	18,100	21,423	17
2018Q4	314	18,700	21,274	15
2017Q4	202		18,894	11
2016Q4	208		16,773	12