- Significant carbon dioxide emissions from steel production.
- Global disruption to logistics.
- Decarbonizing global steel production requires trillions of euros and several decades.
- Limited unilateral influence on steel supply chain.
- Complexity of quantifying indirect use phase emissions.
AB SKF
Greenhouse gas emissions & sustainability report data
In its 2024 reporting, AB SKF disclosed greenhouse gas emissions of 3.5 million tonnes of CO2e/year (2019). By scope: Scope 1: 58.6K tonnes CO2e/year (2019); Scope 2: 362.0K tonnes CO2e/year (2019); Scope 3: 3.1M tonnes CO2e/year (2019). 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
3.5 million tonnes of CO2e/year (2019)
2024
Renewable Energy
Over 50% (2022)
of total energy
📊 Emissions by Scope (2024)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 58.6K tonnes CO2e/year (2019) |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 362.0K tonnes CO2e/year (2019) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 3.1M tonnes CO2e/year (2019) |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2024 | 3.5 million tonnes of CO2e/year (2019) |
| 2023 | 253.7K tCO2e (market-based) |
| 2022-01 to 2022-09 | 5.9K tCO2e (Scope 1 & 2 Jan-Sep 2022) |
| 2022 | 312.2K tCO2e/year (market-based) |
| 2020 | 381.8K tCO2e/year (market-based) |
| 2019 | 417.1K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced scope 1 and 2 emissions by 15% in 2022 despite increased sales and production volumes.
- Increased renewable electricity share from 40% in 2020 to over 50% in 2022.
- Gothenburg facility became the 3rd factory with decarbonized operations in January 2022.
- Produced Spherical Roller Bearing (SRB) with 90% less emissions than standard SRB bearing (collaboration with Ovako).
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce direct material-related GHG emissions by 13% by 2025 (from 2019 baseline).
- All suppliers with annual energy use over 10 GWh to have emissions reduction plans by 2025.
- Reduce embodied CO2e by at least 15% in forgings, rings, and rolling elements by 2025 (from 2019 baseline).
📅 Medium-term
- Decarbonize operations by 2030 (95% reduction in scope 1 and 2 emissions from 2019 baseline).
- Reduce direct material-related GHG emissions by 32% by 2030 (from 2019 baseline).
- At least 40% absolute reduction in embodied CO2e from forgings, rings, and rolling elements by 2030 (from 2019 baseline).
- At least 50% of sourced steel to be Responsible Steel certified, from companies with approved SBTi targets, or low embodied carbon steel by 2030.
🔭 Long-term
- Achieve net zero emissions throughout the value chain by 2050.
🌱 ESG Focus Areas
Climate ChangeSupply Chain SustainabilityEnergy EfficiencyRenewable EnergySteel Decarbonization