Sandvik commits to the Science Based Targets initiative
Sandvik has pledged to establish targets aligned with the Science Based Targets initiative (SBTi) to address climate change in line with the Paris Agreement.
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Rhea-AI Summary
Sandvik has pledged to establish targets aligned with the Science Based Targets initiative (SBTi) to address climate change in line with the Paris Agreement. This commitment is part of Sandvik's sustainability strategy, which aims for a 50% reduction in greenhouse gas emissions by 2030. By joining the SBTi, Sandvik will validate its sustainability goals against scientific standards. The initiative requires halving emissions by 2030 and reaching net zero by 2050. The CEO emphasized the importance of sustainability for business growth and societal impact.
Positive
- Sandvik aims for a 50% reduction in greenhouse gas emissions by 2030.
- Commitment to the Science Based Targets initiative enhances credibility in sustainability efforts.
- Potential for increased business opportunities through sustainable product offerings.
Negative
- None.
Details
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SANDVIKEN, Sweden, Dec. 10, 2021 /PRNewswire/ -- Sandvik has committed to set targets in line with the Science Based Targets initiative (SBTi), consistent with the Paris Agreement. This is a natural step in Sandvik's sustainable business strategy, where we can make a big difference through our customer offerings, such as battery-electric mining equipment, productivity-enhancing manufacturing and machining solutions, and energy-efficient rock processing solutions.
Sandvik already has ambitious sustainability targets for 2030 where we have committed to reach a 50 percent reduction of greenhouse gas emissions. By joining the SBTi, Sandvik will seek to get its sustainability targets validated against science-based criteria.
"Sustainability is an integrated part of Sandvik's strategy and of crucial importance for the society around us as well as for business. We constantly work with customers and suppliers to develop more productive, safer and more sustainable solutions, and setting Science Based Targets underlines our firm determination to reduce greenhouse gas emissions through our products and our operations", says Stefan Widing, President and CEO of Sandvik.
The SBTi is a partnership between the Carbon Disclosure Project, the UN Global Compact, the World Resources Institute and the World Wide Fund for Nature. The requirements of SBTi include that greenhouse gas emissions must be halved by 2030 – and drop to net zero by 2050 at the latest.
Stockholm, December 10, 2021
Sandvik AB
For further information, contact
Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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SOURCE Sandvik
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