Fidelity has engaged with Dyno Nobel as part of our climate stewardship activities with companies in emissions-intensive sectors.
While the company had set a net zero ambition, this did not extend to emissions across its broader value chain.
We encouraged Dyno Nobel to strengthen its approach by introducing measurable targets for these emissions.
Fidelity has engaged with Dyno Nobel as part of our climate stewardship activities with companies in emissions-intensive sectors.
While the company had set a net zero ambition, this did not extend to emissions across its broader value chain.
We encouraged Dyno Nobel to strengthen its approach by introducing measurable targets for these emissions.
At Dyno Nobel’s 2023 shareholder meeting, Fidelity abstained from supporting the company’s climate plan due to concerns about the ambition and coverage of its targets.
We continued to engage with the company and wrote to the Board outlining our expectations and providing comparisons with industry peers. Our engagement focused on the importance of moving from a high-level ambition to measurable targets, supported by clear actions across purchasing and customer-related decisions.
In 2025, Dyno Nobel announced two new targets covering emissions within key parts of its value chain. These targets aim to reduce emissions associated with the purchase of raw materials and the use of products sold to customers by 2030.
We welcomed this progress, which marked an important step in strengthening the company’s climate strategy and integrating emissions considerations into business decisions. Following the announcement, we considered the objective of our engagement to have been achieved.
