Science Based Targets initiative validates Sandvik Coromant’s net-zero target

Sandvik Coromant has committed to near-term, companywide emission reductions in line with climate science with the Science Based Target initiative (SBTi).

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 nonprofit 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 Net-Zero Standard also ensures 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 toward several revised sustainability goals.

First, the organization 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 include 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 also is working to become more than 90 per cent 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.

Accroding to Sandvik Coromant, it has already made progress toward its sustainability goals and has already halved its scope one and scope two carbon emissions compared to 2019 levels.