Aligned with the goals of the Paris Agreement and the United Nations Sustainable Development Goals (SDG), Sandvik Coromant’s own sustainable business targets have been set in line with the SBTi’s criteria as part of the organization's commitment to reducing its greenhouse gas emissions and practicing responsible manufacturing.
A collaboration between global non-profit CDP, the United Nations Compact, World Resources Institute (WRI) and the WorldWide Fund for Nature (WWF), SBTi defines and promotes best practice in emissions reduction and net-zero targets in line with climate science.
The initiative works alongside businesses to help them take the necessary steps to reduce their carbon emissions and seize the environmental, financial and business benefits that science-based climate goals can bring. The SBTi also launched the world’s first Corporate Net-Zero Standard, to ensure that companies’ net-zero targets translate into action that is consistent with achieving a net-zero world by 2050.
Alongside the wider Sandvik group, Sandvik Coromant first committed to set targets in line with the SBTi’s criteria in December 2021, beginning a rigorous validation process during which the SBTi worked with the team to help update its targets. Now, following validation from the SBTi, Sandvik Coromant is working towards several revised sustainability goals.
First, the organisation is committed to reaching net-zero. When considering net-zero, greenhouse gas emissions are split into three scopes. Sandvik Coromant plans to reach net-zero for scopes one and two, which includes emissions produced directly within Sandvik Coromant’s operations and those produced indirectly through heating and power, by 2035.
It aims to reach net-zero for scope three emissions, those that result from activity that takes place beyond facility walls such as the production of raw material and emissions generated through the supplier network, by 2050.
Sandvik Coromant is also working to become more than 90% circular by 2030, with its buy-back scheme for recycling used carbide tools forming an important part of its circularity strategy. The company’s third sustainable business goal relates directly to people, with a pledge for women to make up a third of Sandvik Coromant’s management team by 2030.
“Committing to science-based targets is a crucial part of our sustainability strategy,” said Patrik Eurenius, head of sustainability and EHS at Sandvik Coromant. “Recognition of the SBTi initiative has grown exponentially in recent years. When we first signed up, around 3,000 other businesses did so at the same time.
"Now, that figure is almost double. As more businesses wake up to the reality our planet faces, and act to make a difference, validation from the SBTi will become even more vital.”
Sandvik Coromant has already significant progress towards its sustainability goals and has already halved its scope one and two carbon emissions compared to 2019 levels.
“We’ve encompassed sustainability goals into our practices for some time,” added Eurenius. “With SBTi validation, we can evidence our commitment to leading the manufacturing shift even further. We want to support everyone — our customers, colleagues, partners and stakeholders — in the transition towards sustainable manufacturing. Now, we have the science behind us to help make that happen.”
