Sustainable development is about looking at the whole picture. For us it’s about how we can reduce environmental impacts when producing our 100-percent recyclable steel. But it’s also about reviewing other parts of the value chain, and collaborating with customers, suppliers, and other stakeholders on challenges that affect all of us. We have set ambitious targets for all parts of the sustainability map.
Targets for the coming years
The environmental sustainability targets focus on reducing CO2 emissions and eliminating non-environmentally friendly elements from our production facilities. If we manage to reduce CO2 emissions by 10 percent per kilo of produced and sold wire, we will exceed the Paris Agreement target of a 50-percent reduction in CO2 by 2030. We will work hard to eliminate non-environmentally friendly elements used in production by 2025 and will increase our recycling volumes as time goes on. We will limit our freshwater usage and landfill, and develop ways to recycle not only fresh water but also plastic, metal, and much more.
When it comes to social sustainability, we will focus on the UN goals of Good health and well-being (where our safety work is an important part), Quality education, Gender equality, and Decent work and economic growth. We also see diversity as a target area.
Financial sustainability is about sound finances and economic growth, according to UN Goal 8. Our targets include good cashflow from profitable business and a low debt-to-equity ratio.
Investments in 2021
During the past year, we’ve already been busy with investments and updates to our facilities. In Suzhou, China, we installed solar panels and replaced the old furnace with effective, innovative, and environmentally friendly tempering. In Garphyttan, the factory is supplied with green electricity only, which reduced carbon dioxide emissions by 8,000 tons from May to December 2021. We obtained support for local climate investment and made the switch to more sustainable geothermal heating.
In South Bend, we started to recycle spray cans and reduced the amount of scrap in production. The UK site in Leeds focused on green electric power and waste separation. We also installed a cooling tower to reduce consumption of both water and electricity. At our newest site in San José Iturbide, Mexico, we worked hard to increase personnel safety and reduce hazardous liquids.
Recycling and waste reduction has been high on our business agenda, as well as safety and well-being of our employees. We are working hard with safety communication and behavior to increase knowledge and awareness with the aim to reach our zero-accidents target in 2025. During 2021 we introduced a collaboration with the organization Suicide Zero, to contribute and support their important work spreading knowledge and awareness about mental illness and reduce the number of suicides in our society.
If you want to know more about our sustainability work, please get in touch. We have a lot to tell you. You can also read our Sustainability Report.