Tokmanni Group continues its credible climate work – New, science-based climate targets were confirmed to apply to all of the Group’s current operations in the Nordics

Tokmanni Group announced SBTi-validated, science-based near-term climate targets covering all current Nordic operations (Finland, Sweden and Denmark), committing to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2024 base and to ensure 80% of suppliers by spend have science-based targets by 2030; the targets, approved by SBTi in November 2025, are aligned with limiting warming to 1.5°C. The company highlights prior success in Finland—its Tokmanni segment cut scope 1 and 2 emissions 71.5% by end-2024 from 2015—and plans to drive reductions through energy-efficiency measures, switches to fossil-free electricity and more renewables, while accelerating supplier engagement (47.6% of suppliers had SBTs at end-2024). For investors, the move strengthens Tokmanni’s ESG credentials amid CSRD reporting, will require ongoing capex and supply-chain engagement, and positions the EUR 1.675bn‑revenue (2024) group to better manage climate-related operational risks and reputational exposure.

Analysis

Tokmanni Group announced SBTi-validated, science-based near-term climate targets approved on 14 November 2025 that apply across its current Nordic operations (Finland, Sweden and Denmark), committing to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2024 base and to have 80% of suppliers by spend set science-based targets by 2030. The targets explicitly cover emissions from the Group’s own operations and scope 3 engagement priorities, reflecting alignment with a 1.5°C Paris pathway.

The company cites prior execution track record: the Tokmanni segment met a 2025 target early, cutting scope 1 and 2 emissions 71.5% by end-2024 from 2015, and reported 47.6% of suppliers with SBTs at end-2024. Tokmanni Group reported EUR 1,675m revenue and EUR 100m comparable EBIT in 2024, has over 380 stores and expanded into Sweden and Denmark via the Dollarstore acquisition, which increases the scale and complexity of its climate programme.

Implementation will rely on energy-efficiency investments, switching to fossil-free electricity, increased renewables and stronger supplier engagement enabled by a unified sourcing organisation; these actions reduce reputational and transition risk but imply near-term capex/operational costs and execution risk around supplier uptake. Key investor considerations are monitoring disclosure cadence on scope 1/2 reductions, supplier SBT progress from 47.6% toward 80%, and any incremental cost or savings guidance tied to the initiatives.

Key Decisions for Investors

• Consider modestly overweighting Tokmanni for ESG-aligned exposure given SBTi validation and a proven track record in Finland, while awaiting granular capex and implementation guidance
• Monitor three execution KPIs as stop/go triggers: year-on-year scope 1/2 emissions vs 2024 base, supplier SBT coverage progression from 47.6% toward 80% by 2030, and disclosed incremental capex/opex for energy measures
• Use position sizing or hedges to limit downside risk from implementation shortfalls or higher-than-expected transition costs until the company quantifies net savings from energy efficiency and renewable procurement