GOTHENBURG, Sweden,
June 9, 2023 /PRNewswire/ -- SKF
has decided to allocate SEK 3 billion
to meet its energy and decarbonization goal by 2030, which is a key
element of the Group's strategy. The Group has also decided to ban
any fossil fuel investments in its own operations, as well as to
replace direct fossil gas use with renewable energy or approved
non-fossil fuel alternatives by 2029.
The SEK 3 billion investment frame
is to be exclusively used to fund decarbonization activities,
mainly energy efficiency and removal of fossil gas use for process
and building heat, within the Group's operations around the world.
The frame will be utilized at around SEK 500
million per year up to the end of 2028.
Rickard Gustafson, President and
CEO, says: "I am very pleased to announce this next step in our
Decarbonization and Net Zero approach. This is just another example
of our commitment towards the achievement of the goals set out in
the Paris Climate agreement. We act on this commitment both with
actions like this and through all our various engagement and
advocacy activities."
"The scale and urgency of the climate crisis demands an even
greater focus and speed of action. These investments, coming with a
clear frame, will help us reach our goal to decarbonize our own
operations by 2030. To achieve this is an absolute key element of
our strategy."
SKF has reduced its Scope 1 and 2 emissions by 46% since 2015.
This has been achieved by focusing on energy efficiency as well as
efficient production and use of materials, while continually
increasing the share of renewable energy used in the Group's
operations around the world. More than half of the electricity used
in SKF's operations comes from renewable energy sources.
Aktiebolaget SKF
(publ)
For further information, please contact:
PRESS: Carl Bjernstam, Acting SKF Media & Press Director
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail:
carl.bjernstam@skf.com
INVESTOR RELATIONS: Patrik
Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104;
patrik.stenberg@skf.com
The following files are available for download:
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https://mb.cision.com/Main/637/3783655/2116569.pdf
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20230609 SKF to phase
out its own fossil gas use with a SEK 3 billion decarbonization
investment frame
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https://news.cision.com/skf/i/solar-panels-on-skf-building,c3188254
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Solar panels on SKF
building
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https://news.cision.com/skf/i/rickard-dsc9658,c3188255
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Rickard
DSC9658
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