Commercial, Energy Efficiency, GHG Emissions - September 5, 2023
Sandvik’s Targets Approved by SBTi
Sandvik's targets for reducing GHG emissions were validated by the Science Based Targets initiative (SBTi).
The company committed to set targets in line with SBTI's criteria in December 2021 and submitted new targets for validation in November 2022.
With the new targets, Sandvik, a Swedish engineering group, commits to reach net-zero GHG emissions by 2050 at the latest. Sandvik also commits to reducing absolute Scope 1 and 2 GHG emissions by 50% by 2030 with 2019 as the base year and to lower absolute Scope 3 emissions by 30%. In addition, Sandvik commits to reduce absolute Scope 1 and 2 GHG emissions by 90% by 2040.
"We are very pleased that our emission reduction targets have now been validated by SBTi, and we look forward to continue driving the shift towards strengthened sustainability and productivity in the industries we serve. We can have a big impact through our customer offerings, such as battery-electric and automated mining solutions, productivity-enhancing manufacturing and machining solutions, and energy-efficient rock processing solutions," says Stefan Widing, President and CEO of Sandvik, in a statement.