YIT Oyj is a leading Finnish construction company that operates in the Apartment Owners & Develop sector. The company was founded in 1912 and has since grown to become a major player in the construction industry, with operations in Finland, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania, Russia, and Poland. YIT Oyj has a strong focus on sustainability, and is committed to decarbonisation and the use of renewable energy sources.
Decarbonisation is a key priority for YIT Oyj, and the company has set ambitious targets to reduce its carbon footprint. In 2020, YIT Oyj announced that it would achieve carbon neutrality in its own operations by 2030, and in its entire value chain by 2040. To achieve these targets, the company is implementing a range of measures, including reducing energy consumption, increasing the use of renewable energy sources, and improving the energy efficiency of its buildings.
One of the ways that YIT Oyj is reducing its carbon footprint is through the use of corporate energy purchase agreements (PPAs). PPAs are long-term contracts between a company and a renewable energy generator, which guarantee the purchase of a certain amount of renewable energy at a fixed price. By entering into PPAs, YIT Oyj is able to secure a reliable source of renewable energy, while also supporting the development of new renewable energy projects.
In 2020, YIT Oyj signed a corporate PPA with a Finnish wind farm, which will supply the company with renewable energy for the next 10 years. The wind farm will generate approximately 60 GWh of electricity per year, which is equivalent to the annual electricity consumption of around 15,000 households. By using renewable energy from the wind farm, YIT Oyj will be able to reduce its carbon footprint by around 30,000 tonnes of CO2 over the next decade.
YIT Oyj is also investing in its own renewable energy projects, including solar power and geothermal energy. In 2020, the company completed a 1.5 MW solar power plant in Finland, which will generate approximately 1.3 GWh of electricity per year. The solar power plant is located on the roof of a logistics center, and will supply renewable energy to the building and the surrounding area. YIT Oyj is also exploring the use of geothermal energy for heating and cooling its buildings, which has the potential to significantly reduce the company's carbon footprint.
In addition to its focus on renewable energy, YIT Oyj is also committed to improving the energy efficiency of its buildings. The company has set a target to reduce the energy consumption of its buildings by 30% by 2030, compared to 2019 levels. To achieve this target, YIT Oyj is implementing a range of measures, including improving insulation, upgrading heating and cooling systems, and using energy-efficient lighting and appliances.
YIT Oyj is also working to promote sustainable building practices more broadly. The company is a member of several industry associations and initiatives that are focused on sustainability, including the World Green Building Council and the Nordic Built Cities Challenge. YIT Oyj is also involved in several research and development projects that are exploring new technologies and materials for sustainable building.
Overall, YIT Oyj is a leading Finnish construction company that is committed to decarbonisation and the use of renewable energy sources. Through its focus on corporate PPAs, renewable energy projects, and energy efficiency measures, the company is working to reduce its carbon footprint and promote sustainable building practices. YIT Oyj's commitment to sustainability is not only good for the environment, but also makes good business sense, as it helps the company to reduce costs, increase efficiency, and enhance its reputation as a responsible corporate citizen.