Danfoss

Danfoss, headquartered in Denmark and operating in the Electrical machinery and apparatus n.e.c. industry, has disclosed its carbon emissions and ambitious climate commitments.

For 2025, Danfoss reported total carbon emissions of approximately 110.2 billion kg CO2e. This includes Scope 1 emissions of 118.1 million kg CO2e, market-based Scope 2 emissions of 112.6 million kg CO2e, and Scope 3 emissions of about 110 billion kg CO2e. Key contributors to Scope 3 emissions include use of sold products (about 106.3 billion kg CO2e) and purchased goods and services (2.6 billion kg CO2e).

In 2024, the company's total emissions were approximately 112.3 billion kg CO2e, with Scope 1 at 131.8 million kg CO2e, market-based Scope 2 at 213.7 million kg CO2e, and Scope 3 at about 112.2 billion kg CO2e.

Danfoss is committed to significant emissions reductions, with several Science Based Targets initiative (SBTi) validated targets:

• Near-term (by 2030 from a 2019 base year): Reduce absolute Scope 1 and 2 GHG emissions by 46.2%, and absolute Scope 3 GHG emissions by 15%.
• Near-term (by 2035 from a 2024 base year): Reduce absolute Scope 1 and 2 GHG emissions by 90.0%. The company also aims to reduce Scope 3 GHG emissions from the use of sold products by 66.33% per tonne of refrigeration from sold compressors, and overall Scope 3 GHG emissions by 66.33% per EUR value added within the same timeframe.
• Long-term (by 2050 from a 2024 base year): Achieve net-zero greenhouse gas emissions across the entire value chain. This includes maintaining a minimum 90.0% absolute Scope 1 and 2 GHG emissions reduction from 2035 through 2050, and reducing Scope 3 GHG emissions by 97.0% per EUR value added by 2050.

Additionally, Danfoss aims to achieve carbon neutrality in its own operations (Scope 1 and 2) by 2030, equivalent to a minimum 90% absolute emissions reduction from a 2023 base year. The company also has a sustainability-linked bond tied to a target of reducing absolute Scope 1 and 2 emissions by 75% by 2028, compared to a 2019 baseline. A further target is to reduce total Scope 3 emissions by 25% for purchased goods and services by 2030, compared to a 2019 baseline.