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Net zero

We will be net zero in our value chain.

Our goal is to have net zero emissions in our value chain. This includes the impact of our products and equipment in use. We have set science-based targets for reducing greenhouse gas (GHG) emissions, which have been validated by the Science Based Targets initiative (SBTi) in 2023:

  • Reduction of absolute scope 1 and 2 GHG emissions by 50%, and absolute scope 3 emissions by 30%, by 2030 (baseline 2019).
  • Reduction of absolute scope 1 and 2 GHG emissions by 90% by 2040.
  • Net-zero GHG emissions, scopes 1, 2 and 3, by 2050.

The majority of our emissions are in our value chain, with nearly 70% coming from the use of sold products. Accelerating the development of more sustainable solutions to reduce the emissions of our customers is crucial.

Contribute to zero impact mining

We are developing solutions across all our industries. The mining sector of our business is a particular focus area as it accounts for a large percentage of our downstream emissions. As the world works to meet the targets of the Paris Agreement, there will be increased demand for the critical minerals needed to build the infrastructure for the energy transition.

Our ambition is for our equipment to contribute to zero impact mining of these minerals. Sustainable solutions for our mining equipment include battery-electric vehicles powered by fossil-free energy and energy-efficient rock processing solutions. We also offer productivity-enhancing manufacturing and machining solutions, optimizing energy and resource efficiency.

Working with our suppliers

Approximately a fifth of our emissions are from our suppliers. We work closely with them to identify ways to reduce emissions and we recommend they set science-based targets.

In our operations, our focus is on energy efficiency, switching to fossil-free energy and reducing emissions from internal transportation. We are working to ensure that every individual site has an action plan to reduce GHG emissions and increase energy efficiency.

Transition plan to net zero

We are committed to achieving net zero GHG emissions across the entire value chain by no later than 2050. We have several activities, so called decarbonization levers, that supports us in our transition plan towards net zero.

Scope 1 and 2

In scope 1, fuel switching and electrification of transportation and production processes are essential in order to reach our targets. To reduce emissions in scope 2, we focus on activities such as energy efficiency measures, power purchase agreements (PPAs), roof-top solar panels and sourcing of fossil-free electricity. Read more about our achivements and initiatives below.

An illustration showing a steady reduction of GHG emissions in scope 1 and 2 from 2019 to 2050.The figure shows an illustrative reduction path of our scope 1–2 emissions.

  • Examples of achivements in 2023

    Transport (scope 1)

    • Diesel forklifts were replaced by electric forklifts at several sites, for example in Khanbogd in Mongolia, Patancheru (India), Luoyang (China) and Santiago (Chile).

    • The Surface Drilling division increased the share of electric company cars in sales area Northern Europe.

    Fuel (scope 1)

    • Sites in Lahti (Finland) and Svedala (Sweden) continued to replace natural gas by biogas. Svedala is also replacing a natural gas heater with an electrical induction heater.
    • Ballygawley (Ireland) is replacing diesel with HVO for all vehicles and machines on site.

    Electricity (scope 2)

    • Renewable electricity production increased by 64%, compared to 2022.
    • Buffalo Tungsten (US), acquiried in 2023, is operated by 100% hydropower.
  • 2030

    Our target is to reduce scope 1–2 GHG emissions by 50%*.

    *Compared to our 2019 baseline (SBTi approved target).

  • 2035

    Electricity (scope 2)

    • Sandvik Machining Solutions aims to have zero greenhouse gas emissions from electricity.
  • 2040

    Our target is to reduce scope 1–2 GHG emissions by 90%*.

    *Compared to our 2019 baseline (SBTi approved target).

  • 2050

    We are committed to net zero latest 2050, (90% scope 1–3 GHG reduction)*.

    *Compared to our 2019 baseline (SBTi approved target).

  • Decarbonization levers

    Transport (scope 1)

    • Transition of own transport by changing to fossil-free vehicles (service and sales) and electric forklifts at our sites.

    Fuel (scope 1)

    • Fuel switching, such as replacing natural gas by biofuels and electrification of processes that consume fossil fuel.

    Electricity (scope 2)

    • Activities such as energy efficiency measures, power purchase agreements (PPAs), roof-top solar panels and sourcing of fossil-free electricity.

Scope 3

Reductions in scope 3 are enabled by our development of more sustainable solutions across all our industries, including battery-electric mining equipment, energy-efficient rock processing solutions and productivity-enhancing manufacturing and machining solutions for optimized energy and resource efficiency. Developing circular business models is also a critical part of sustainable solutions, as well as sourcing of low-carbon materials and ecodesign initiatives. Read more about our achivements and initiatives below.

An illustration showing a steady reduction of GHG emissions in scope 3 from 2019 to 2050.The figure is showing an illustrative reduction path of our scope 3 emissions.

  • Examples of achivements in 2023

    Sourcing of goods and services

    • We signed a letter of intent with steelmaker SSAB for the purchase of fossil-free steel.
    • We introduced an industry-first ‘opt-out’ recycling program for carbide drill bits.
    • The acquisition of Buffalo Tungsten will increase local production of metal powder in the US, reduce transports and become a hub for recycling of used tools.

    Use of sold products

    • A clear trend towards electric mining equipment (BEVs), now accounting for more than 10% of orders.
    • Launch of a number of electric mining and rock processing equipment.
  • 2025

    Sourcing of goods and services

    • Our business area segment Sandvik Machining Solutions aims to buy back and recycle 90% of the material sold.

    Use of sold products

    • We aim to have a 90 % electric mobile crushing and screening offering. Already today, all our stationary crushing and screening equipment is fully electrified.
  • 2030

    • Our goal is to reduce scope 3 GHG emissions by 30%*.
    • Our goal is at least 90% materials circularity for packaging, products and waste.
    • We aim to have a fully electric underground offering. At least half of the underground equipment we sell will be electric.

    *Compared to our 2019 baseline (SBTi approved target).

  • 2050

    We are committed to net zero latest 2050, (90% scope 1–3 GHG reduction)*.

    *Compared to our 2019 baseline (SBTi approved target).

  • Decarbonization levers

    Sourcing of goods and services

    • Sourcing of low-carbon materials and circularity/ecodesign initiatives. Improved material and resource efficiency as part of all development projects and design for reuse, recycling and recovering. We create circular business models to keep valuable materials in circulation.
    • The transition towards a circular economy and advanced resource and waste management will support our transition to achieve circularity and resource efficiency. We are committed to help building a circular society by minimizing waste and developing sustainable materials and products, hence also reducing GHG emissions.

    Use of sold products

    • We develop sustainable solutions across all our industries, including battery-electric mining equipment and energy-efficient rock processing solutions. We also offer productivity-enhancing manufacturing and machining solutions for optimized energy and resource efficiency.
    • The global clean electricity transition and increased market maturity for electrical mining will support our transition to achieve net zero emissions from the use of our sold products.

Other focus areas:

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