SKF earns top CDP ratings, reinforcing climate leadership across the value chain

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SKF (OTC:SKFRY) has achieved exceptional recognition for its environmental leadership, receiving an 'A' score in CDP's 2024 Supplier Engagement Assessment (SEA) and Climate ratings. The company scored top marks in 15 out of 16 areas, placing it among the top 2% of over 22,700 companies evaluated globally.

SKF demonstrated remarkable progress in its sustainability goals, achieving a 32% year-on-year reduction in scope 1 and 2 emissions in 2024, up from 18% in the previous year. The company increased its renewable electricity usage to 72% in 2024, up from 64% in 2023, as part of its commitment to achieve net-zero greenhouse gas emissions across its supply chain by 2050.

Positive

• Achieved 'A' score in CDP's Supplier Engagement Assessment, placing among global leaders
• 32% year-on-year reduction in scope 1 and 2 emissions in 2024
• Increased renewable electricity usage to 72% in 2024, up from 64% in 2023
• Scored top marks (A) in 15 out of 16 assessment areas

Negative

• None.

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GOTHENBURG, Sweden, Sept. 11, 2025 /PRNewswire/ -- SKF has been awarded an `A' score in the 2024 CDP Supplier Engagement Assessment (SEA), placing the company among the global leaders in supplier climate action and transparency. This recognition follows SKF's earlier A rating for Climate from CDP, underscoring the Group's commitment to environmental leadership across its operations and supply chain. 

CDP is a global non-profit that runs the world's only independent environmental disclosure system for companies, capital markets, cities, states and regions to manage their environmental impacts. The SEA evaluates how effectively companies engage their suppliers on climate-related issues, focusing on governance, targets, Scope 3 emissions, and value chain engagement. SKF achieved top scores across all categories, including an A in governance and business strategy, targets, Scope 3 emissions (including verification), and supplier engagement. 

Earlier in the year, SKF also received an A rating from CDP for climate, placing it in the top 2% of all companies scored. A record 22,700+ companies were scored in 2024, however, just 515 companies achieved an A score, underlining SKF's sustainability commitment. 

"Being recognised by CDP for both our climate transformation progress and supplier engagement demonstrates that our strategy is not only ambitious but also credible and measurable. This recognition reflects our deep commitment to decarbonizing our own operations but also the broader value chain. Real climate impact requires collaboration, and we are proud to work closely with our suppliers to drive meaningful change," says Sofie Runius Cederberg, Head of Sustainability at SKF. 

Within the categories of the rating, SKF scored the highest possible grade A in 15 of the 16 areas. Of particular note, SKF received an A score in the Verification (Incl. Emissions) category, where the global category average is a D score. Additionally, SKF received an A score in the Emissions Reduction Initiatives and Low Carbon Products and Value Chain Engagement categories, where the global category average is a C score. 

The full list of companies on CDP's 2024 Supplier Engagement A List is available at: https://www.cdp.net/en/companies/companies-scores.

SKF has committed to achieving net-zero greenhouse gas emissions across its supply chain by 2050. The company continues to make strong progress toward its 2030 decarbonized operations target and accelerated its decarbonization efforts in 2024 by achieving a year-on-year emission reduction for scope 1 and 2 emissions of 32%, up from 18% in the previous year. In addition, SKF has made significant strides in renewable energy adoption. In 2024, 72% of SKF's electricity use came from renewable sources, up from 64% in 2023. 

For more information on SKF's path to Net-Zero emissions, click here.

Aktiebolaget SKF

      (publ)

For further information, please contact:
Press Relations: Sian How, +447970 737470; sian.how@skf.com
Investor Relations: Sophie Arnius, +46 31-337 8072; +46 705 908072; sophie.arnius@skf.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-earns-top-cdp-ratings--reinforcing-climate-leadership-across-the-value-chain,c4232683

The following files are available for download:

https://mb.cision.com/Main/637/4232683/3661401.pdf	11092025 SKF earns top CDP ratings, reinforcing climate leadership across value chain
https://news.cision.com/skf/i/cdp-badges-2025-a-list-climate,c3468766	CDP Badges 2025 A List Climate
https://news.cision.com/skf/i/cdp-supplier-engagement-leader-2024,c3468767	CDP Supplier Engagement Leader 2024

 

FAQ

What CDP ratings did SKF receive in 2024?

SKF received an 'A' score in both the CDP Supplier Engagement Assessment (SEA) and Climate ratings in 2024, placing it among the top 2% of over 22,700 companies evaluated globally.

How much did SKF reduce its emissions in 2024?

SKF achieved a 32% year-on-year reduction in scope 1 and 2 emissions in 2024, improving from 18% reduction in the previous year.

What is SKF's renewable energy usage in 2024?

In 2024, 72% of SKF's electricity came from renewable sources, an increase from 64% in 2023.

What are SKF's long-term environmental goals?

SKF has committed to achieving net-zero greenhouse gas emissions across its entire supply chain by 2050.

How did SKF perform in CDP's assessment categories?

SKF received the highest possible grade A in 15 of the 16 areas, including exceptional scores in Verification, Emissions Reduction Initiatives, and Low Carbon Products and Value Chain Engagement.