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Gränges AB: Gränges upgrades 2025 sustainability targets
Sustainability is a strong driver and enabler of Gränges' long-term competitiveness and value creation. In March 2019, Gränges launched sustainability targets to 2025 and since then good progress has been achieved towards many of these. To reflect the stronger than anticipated development in the sustainability performance as well as to meet the increased interest and expectations from customers and other stakeholders, Gränges is now upgrading selected sustainability targets. The targets demonstrate Gränges' efforts to further integrate sustainability across the company and the value chain, executed through the company's five sustainability pillars.
- 100 per cent of Gränges' products to have third-party verified sustainability information available. (Previously 80 per cent)
- At least 20 per cent renewable energy. (Previously "Increase")
- At least 30 per cent recycled aluminium of total sourced metal inputs. (Previously 20 per cent)
- 30 per cent reduction in carbon emissions intensity from sourced metal inputs (scope 3) versus baseline 2017.[1)] (Previously "Reduce")
- All sites to have achieved certification in accordance with Aluminium Stewardship Initiative's (ASI) Performance Standard and Chain of Custody Standard. (New target)
1) Gränges follows the Greenhouse Gas Protocol Standards to calculate its climate impact from bauxite extraction to delivery of Gränges' products to customers (cradle-to-gate).
"I'm very proud that we have achieved good progress on our sustainability priorities and that we can now further raise our ambitions. In light of customers' increased interest in using sustainable materials, I'm proud that we intend to have third-party verified sustainability information available for all our products by 2025. We have recently started to offer customers verified product carbon footprint certificates for products produced at the Finspång site, and the focus will now be to expand such certificates to cover all remaining products", says Gränges' CEO Johan Menckel.
The upgraded sustainability targets are also endorsed by Gränges' SVP Sustainability, Sofia Hedevåg.
"I would like to highlight our new quantitative emission reduction target for sourced metal inputs (scope 3), which shows our holistic strategy to reduce climate impact along the aluminium value chain. It complements our existing climate target for own operations and purchased energy (scope 1+2). As our products' carbon footprint mainly originates from sourced primary aluminium, we will collaborate with our suppliers to expand sourcing of low-carbon primary aluminium as well as recycled aluminium. I'm also positive that we have upgraded our recycling target to at least 30 per cent, which confirms our focus on circularity and resource efficiency", says Sofia Hedevåg.
A full overview of Gränges' 2025 sustainability targets can be found on the company's website: www.granges.com/sustainability/framework-and-targets/.
For further information, please contact:
Sofia Hedevåg, SVP Sustainability
sofia.hedevag@granges.com,tel: +46 733 03 79 79
Johan Dufvenmark, VP Group Treasury & Investor Relations
johan.dufvenmark@granges.com,tel: +46 705 97 43 75
About Gränges
Gränges is an aluminium technology company who drives the development of lighter, smarter and more sustainable aluminium products and solutions. The company develops, produces and markets advanced materials that enhance efficiency in the customers' manufacturing process and the performance of the final products. Gränges' innovative engineering has transformed the industry for more than 125 years, and the company holds leading positions in rolled products for thermal management systems, speciality packaging and selected niche applications. Gränges' geographical markets are Asia, Europe and Americas with production facilities in all three regions and a total annual production capacity of 560 ktonnes. Gränges has 2,400 employees and the share is listed on Nasdaq Stockholm. More information on Gränges is available at www.granges.com.
