Lindab's emission reduction targets approved by the Science Based Targets initiative
The Science Based Targets initiative (SBTi) is an international framework for science-based climate targets in line with the Paris Agreement's goal of limiting global warming to 1.5°C. After a process of submitting data supported targets, including a long-term net-zero target for external validation, it is now established that Lindab's emission reduction targets have been approved by SBTi.
Lindab will join other pioneers in the private sector, registered and approved by the SBTi, to lead urgent climate action. With a long history of sustainability efforts, Lindab has already implemented activities aligned with these targets. These initiatives include using fossil-free and renewable electricity, installing solar panels at production sites, and expanding the standard product range to include ventilation products made from recycled steel, among other efforts. Lindab's ambition surpasses SBTi's minimum requirements, and in 2023, these ambitions were even exceeded.
"Lindab has an ambitious climate agenda. Having a third party carefully inspect, validate, and approve our targets in alignment with the latest science marks a significant milestone in our sustainability journey. While Lindab has a long-standing commitment to sustainability, we are now intensifying our efforts to achieve these ambitious targets," says Ola Ringdahl, President and CEO of Lindab.
As an overall net-zero target, Lindab commits to reach net-zero greenhouse gas emissions across the value chain by 2050. In the near term, there is a commitment to reduce absolute scope 1 and 21 greenhouse gas emissions with 56% by 2030 from the base year 2022.2 Lindab also commits to reduce absolute scope 3 GHG emissions from purchased goods and services3, upstream transportation4 and distribution, waste generated in operations and use of sold products with 25% within the same timeframe.5 Long-term, Lindab commits to reduce absolute scope 1, 2 and 3 GHG emissions with 90% by 2050 from the base year 2022.2
Lindab also acknowledges the challenges and the cooperation required to achieve the set targets, such as the decarbonisation of the steel industry, taxation on greenhouse gas emissions, fossil-free transportation, and customers' willingness to pay for sustainable products. Lindab looks forward with confidence to doing everything possible, in collaboration with other actors, to overcome these challenges.
SBTi is a collaboration between CDP Disclosure Insight Action, the World Resources Institute, the We Mean Business Coalition, WWF and the UN's Global Compact. In addition to SBT evaluating and approving companies' targets, the initiative also wants to raise awareness about companies taking responsibility for limiting the effects of global warming.
1) Market-based approach.
2) The target boundary includes land-related emissions and removals from bioenergy feedstocks.
3) Included purchase of direct material.
4) Included in the target are transport between Lindab Group sites and transport to customer where Lindab pays.
5) The year 2022 is considered as a representative base year as operations had returned to normal levels after the pandemic. There were no significant temperature deviations compared to other nearby years, and data for scope 3 is available from this year.