Science Based Targets initiative (SBTi)

Gränges joined the Science Based Targets initiative (SBTi) in 2022 and submitted and received approval of its new long-term climate goals in 2023. This means that the goals are aligned with the latest climate science and consistent with the goals of the Paris Agreement - to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C. The approval from SBTi confirms Gränges’ strong sustainability commitment and dedication to reducing the climate impact from its business and along the value chain.

In 2022, Gränges conducted a full GHG inventory to identify where the largest climate impact occurs from a value chain perspective. The goals cover approximately 91 percent of Gränges emissions including both emissions from own operations scope 1 and scope 2 (9 percent), and from indirect emissions in the value chain scope 3 (91 percent). Categories included in the scope 3 emission targets are purchased goods and services (metals and packaging materials), upstream and downstream transportation, business travel and fuel and energy-related activities. The largest share of emissions originates from metal sourcing which accounts for 96 percent of Gränges scope 3 emissions. The SBTi approved base year for Gränges’ climate goals is 2021. Gränges will also continue to report on the development towards its original 2017 baseline to showcase the company’s full decarbonization journey.

With the SBTi approval Gränges has committed to the below SBTi goals

Net-zero goal

• Reach net-zero GHG emissions across the value chain by 2040.

Long-term goals

• Reduce absolute scope 1 and 2 GHG emissions by 90 percent by 2040 from a 2021 base year.
• Reduce scope 3 GHG emissions from purchased goods and services, fuel- and energy related activities, upstream transportation and distribution, business travel, and downstream transportation and distribution by 97 percent per tonnes packed product within the same timeframe.

Near-term goals

• Reduce absolute scope 1 and 2 GHG emissions by 42 percent by 2030 from a 2021 base year.
• Reduce scope 3 GHG emissions from purchased goods and services, fuel- and energy related activities, upstream transportation and distribution, business travel, and downstream transportation and distribution by 57 percent per tonnes packed product within the same timeframe.

About SBTi

The SBTi is a global partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Science-based targets provide a clearly defined pathway for companies and financial institutions to reduce greenhouse gas emissions, helping prevent the worst impacts of climate change and future-proof business growth. Targets are considered science-based if they are in line with the level of decarbonization required to keep global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.