Hultafors Groups' Net-zero targets approved by the SBTi

Hultafors Group takes a major leap forward

“This approval is a testament to our long-term commitment to minimizing our environmental impact and building a more sustainable future. We are very proud over our high set ambitions that now are scientifically validated and approved by SBTi” says Martin Knobloch, CEO of Hultafors Group.

Ambitious goals for a sustainable future

Hultafors Group has set near-term targets to reduce emissions by 42 % in Scope 1 and Scope 2, and by 42 % in Scope 3 by 2030, from the baseline year 2022. The Group has also set out a long-term target to reduce emissions by 90% until 2050.

“Working towards a more sustainable industry is not just an opportunity but an obligation. We take our responsibility seriously and look forward to collaborating with our partners and customers to reach our ambitious goals.” Martin Knobloch adds.

Commitment across the value chain

In May 2024 Hultafors Group launched a group strategic framework where circular business solutions and reduced carbon emissions are well integrated. Circular business transformation is one of five key strategic goals, aimed at reducing the Group's climate footprint to net-zero, which is primarily caused by emissions from purchased materials.

Following activities are planned to meet our targets in collaboration with our partners:

• Energy efficient operations and transition to renewable energy sources

• Minimize waste across the value chain

• Minimize environmental footprint of products by extending product lifetime

• Reduce climate impact from upstream and downstream transportation

Initiatives are being launched across the company group to explore a circular business offer and sustainability as a service to customers.

“We are committed not only to meeting but exceeding industry expectations when it comes to climate action. With SBTi’s validation, we have a clear framework for our continued efforts and can assure our customers that we are taking concrete, science-based steps to reduce our emissions.” says Kristina Altner, Group Sustainability Manager at Hultafors Group.

About Science Based Targets initiative (SBTi)

The Science Based Targets initiative (SBTi) helps companies set science-based targets to reduce emissions and fight the climate crisis. Its goal is to halve global emissions by 2030 and achieve net-zero by 2050.

SBTi is a partnership between CDP, the UN Global Compact, WRI, and WWF, and is part of the We Mean Business Coalition.

For More Information:

Kristina Altner Group Sustainability Manager, Hultafors Group Email: Kristina.Altner@hultaforsgroup.com

Read more:

Hultafors Group - Sustainability

Science Based Targets initiative (SBTi)