Climate goal

Sandvik LH518B™ loader is one example of battery-electric equipment reducing the environmental impact in mining operations.

We will deliver on our commitments to reduce our climate impact. We are aiming to shift mindsets and outcomes in our own business, for our customers and with our suppliers to help reach our targets.

Progress during the last year

All our business areas worked hard in 2022 to define our Science Based Targets initiative (SBTi) targets, which we sent in for validation. The targets include net-zero emissions for our own operations, heating and power (Scope 1 and 2) by 2040 and for customers, suppliers and transports (Scope 3) by 2050.

We are well in line with our 2030 climate targets. GHG emissions increased by 4 percent in 2022 but compared with the base value (2016–2018) they have been reduced by 35 percent. The reduction is mainly due to energy certificates and exchanging natural gas for biogas.

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.

Reduction of Scope 1 and 2 GHG emissions

We need to reduce our emissions of GHG (greenhouse gases) to 109 ktons to achieve a 50 percent reduction by 2030. The table and graph show the reduction of GHG emissions for 2016–2022.

GHG emissions, ktons
2016-2018 2019 2020 2021 2022
218* 184 149 136 142

*Average value

In 2022, we increased our GHG emissions by 4 percent to 142 ktons due to increased production. However we exceeded the 2030 slope target by 22 percent and reduced GHG emissions by 35 percent compared to our baseline value. The main contributors to that decrease are fossil-free energy sourcing and exchanging natural gas for biogas.

The dotted line is an indication of how well we are in line with the 2030 target. The target is adjusted for structural changes.

Find out more about our progress

You can read more about our latest progress in the interim report.
Go to the page for interim reports