Energy Efficiency, GHG Emissions, Industrial, Industrial, Solar - September 29, 2023
Timken Lowers Emissions by 25%, Increases RE
The Timken Company, a global company in engineered bearings and industrial motion products, achieved a decrease of nearly 25% in emissions at the end of 2022 from its 2018 baseline.
The company used 10 times more energy from renewable sources in its global operations in 2022 compared to 2018 to drive down emissions. Through the use of onsite solar arrays and power purchase agreements, the company expects to double its renewable energy use over the next three to five years.
Details were published in Timken's annual corporate social responsibility (CSR) report, which features an update on progress toward its 2030 environmental emissions target.
"As we advance our corporate social responsibility programs, it is increasingly evident how interconnected they are," said Richard G. Kyle, Timken president and CEO, in a statement. "From our global operations to the communities where we live and work, we are pursuing a sustainable CSR strategy with long-term impact. At Timken, we continually focus on improving our operations. And, with our customers, we are continuously innovating to deliver more efficient and sustainable products — including for the renewable energy industry, our largest end-market sector."
Timken's environmental emissions target is to reduce aggregate Scope 1 and 2 GHG emissions intensity by 50% by 2030, which includes direct emissions intensity from its operations and indirect emissions intensity from purchased energy.
The company’s Sustainable Engineering Process guides how the company creates and evaluates product sustainability and how it innovates with customers to advance everyone's CSR objectives. The process also helps Timken identify opportunities to target additional improvements and progress across its portfolio.