SKF has received validation of its Scope 1, 2 and 3 emissions reduction targets from the Science Based Target initiative (SBTi). The SBTi has verified SKF’s net-zero target by 2050, validating its near and long-term science-based emissions reduction targets. SBTi is the global body enabling companies to set ambitious emissions reduction targets in line with the latest climate science. Validation means that SKF’s targets comply with the goals of the Paris Agreement.
SKF has committed to reducing its absolute scope 1 and 2 GHG emissions by 95% by 2030 from a 2019 base year, and to reduce its scope 3 emissions by at least 31%. In addition, SKF has committed to reach net-zero GHG emissions across the value chain by 2050. Furthermore, SKF commits to a reduction in absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation, and distribution and use of sold products of 90% by 2050.
Magnus Rosén, head of sustainability at SKF, says: “We have set a clear and bold path to reach net-zero emissions in 2050. Our targets are based on an understanding of the complete life cycle, meaning we will prioritise actions that make the biggest positive impact, while avoiding negative trade-offs. By setting targets that align with the latest scientific research, we can help mitigate climate change, protect natural resources, and create a better future for all.”
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