In 2021, we raised our ambitions by committing to reducing the greenhouse gas emissions throughout our value chain in line with the goals of the Paris Agreement. For the Group’s own operations (scope 1 and 2), this means that we aim to reduce emissions in line with keeping the global temperature rise below 1.5 degrees.

We will also reduce the indirect emissions from our value chain (scope 3), including the emissions that occur when our products are in use, in line with keeping the temperature rise well below 2 degrees. Our targets up to year 2030 have been validated by the Science Based Targets initiative and were implemented in 2022. The work to identify additional opportunities for reducing emissions continues and we acknowledge the need to further develop our roadmaps and targets beyond year 2030.

In 2023, the CO₂ emissions from our own operations were 38% lower than in the baseline year, 2019. An increased share of renewable electricity was the main driver and some larger facilities switched to renewable energy during the year. 

In 2023, the absolute emissions in scope 3 were 28% higher than in the baseline year. The main reason for this is increased sales, but the customers’ access to renewable electricity continues to be a major challenge to our ability to reach our scope 3 emissions reduction target.

Reducing waste is important to decrease the total environmental impact from our production and increase circularity. Most of our waste is constituted by scrap metal and the vast majority is reused or recycled. This share has been consistently high for many years. Our target is that by 2030, we shall reuse, recycle, or recover 100% of our waste. This target is closely related to circularity, keeping materials in a loop of re-use.