We have set clear targets to reduce our climate impact and reach net-zero, consistent with the goals of the Paris Agreement to limit global warming to 1.5° C.
We are committed to reach net-zero GHG emissions across the value chain by 2050 at the latest. Our near-term targets include reducing absolute scope 1 and 2 GHG emissions by 50% by 2030 with 2019 as the base year, and to reduce absolute scope 3 emissions by 30%. In addition, we are committed to reduce absolute scope 1 and 2 GHG emissions by 90% by 2040.
Our climate targets are approved by the Science Based Targets initiative (SBTi), as aligned with the latest climate science and consistent with the goals of the Paris Agreement.
Impact and actions
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.
We aim to have a fully electric underground offering by 2030 and a 90% electric mobile crushing offering by 2025. Already today we provide fully electrified stationary crushing equipment and trucks. Powder-based net-shape technologies like additive manufacturing make it possible to merge several components into one – reducing assembly steps and thereby energy consumption. Additive manufacturing also reduces waste and often minimizes the use of cutting lubricants and cleaning fluids.
As we drive value chain climate mitigation, one important aspect is reducing supply chain GHG emissions. In our Supplier Code of Conduct, we encourage suppliers to adopt climate targets in line with the Paris Climate Agreement, requiring them to control, measure, document and plan their work to minimize their business climate impact.
Progress during the last year
In our annual report, we annually disclose our GHG emissions and progress against the targets.
In 2022 we measured our targets against average 2016–2018 as the baseline. From 2023 onwards we measure our climate targets with 2019 as the base year, which is more ambitious than previous target.
In 2022 we signed a SEK 11 billion revolving credit facility linked to our waste circularity and climate targets. Annual KPIs are aligned with the sustainability targets, and the interest margin is affected positively or negatively depending on whether the KPI levels are met or not.
Throughout 2022 we launched several new products that help our customers reduce their climate impact. target.