- Challenges in collecting product-specific and verified carbon footprint data along the value chain for Scope 3 emissions.
- Ensuring the availability of necessary expertise in the regions where Ovako operates.
- Underrepresentation of women in the workforce.
- Climate change related risks such as forest fires and flooding.
Ovako Group AB
Greenhouse gas emissions & sustainability report data
In its 2023-04-01 to 2024-03-31 reporting, Ovako Group AB disclosed greenhouse gas emissions of 254.4K tCO2e (FY2023 with carbon offsets). Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
254.4K tCO2e (FY2023 with carbon offsets)
2023-04-01 to 2024-03-31
Renewable Energy
100% (fossil-free electricity)
of total energy
Water Usage
6.4M m3 (CY2023)
2023-04-01 to 2024-03-31
Energy Use
2.43 MWh/tonne delivered product (FY2023)
2023-04-01 to 2024-03-31
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023-04-01 to 2024-03-31 | 254.4K tCO2e (FY2023 with carbon offsets) |
| 2022-04-01 to 2023-03-31 | 258.9K tCO2e (with carbon offset) |
| 2021-01 to 2022-03 | 210.0K tCO2e/year (with VER); 478026 tCO2e/year (without VER) |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Inaugurated the world's first hydrogen plant to heat steel prior to rolling in Hofors.
- Reduced scope 1 & 2 emissions per tonne of sales goods by almost 60% since 2015.
- Reduced absolute emissions by 13% in FY23 compared to FY22.
- 88% of residual products recycled or reused over the past five years.
- Successfully replaced 5,000 tonnes of purchased dolomite annually with dolomite recovered from used refractory bricks, reducing CO2 emissions by over 3,000 tonnes per year.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce LTIFR below 1.2 and TRIFR below 6 by FY2026.
📅 Medium-term
- Reduce CO2e carbon footprint by 60% by 2030 and 70% by 2040 (cradle-to-gate).
- Reduce CO2e in operations by 80% by 2030 and 90% by 2040 (scope 1 and 2).
- Increase number of customer cases with improved climate profile in end-applications.
- Reduce the carbon footprint originating from suppliers by 20% by 2030.
- Achieve 23% women in total workforce and 25% women in manager positions by 2025.
🔭 Long-term
- Zero accidents workplace.
- Near zero GHG emissions.
🌱 ESG Focus Areas
Climate changeCircularitySafetyDiversityAnti-corruption