The company says that since 2015 it has decreased its manufacturing carbon footprint by 36% and is already operating two carbon neutral factories.
The 2030 target will cover SKF’s own manufacturing operations, i.e. SKF’s scope 1 and 2 emissions. It will be achieved by a combination of process improvements, energy efficient machinery, and procurement and generation of renewable energy. As a last resort, SKF may also purchase ‘high quality’ carbon offsets.
Alrik Danielson, president and CEO at SKF, says: “Reducing emissions is necessary to combat the climate crisis and as a global company it is important that we show leadership. We strive to reduce the climate impact in the full value chain, from the raw material we buy, to the customer’s use, and beyond. The responsibility to act starts in our own operations – we will act with speed and purpose to achieve this goal. Carbon neutrality will further improve our competitiveness and aligns the interests of SKF, our customers and the environment.”
Patrick Tong, president of industrial sales for Asia, adds: “Climate change presents the world with huge challenges but also opportunities which we will leverage by delivering both environmental and economic value to our customers and other stakeholders. This is key to SKF’s strategy, which is based on sustainable development.”