SKF joined the Renewable Energy 100 (RE100) global initiative that brings together the world’s most influential businesses committed to using 100% renewable electricity. The decision is perfectly aligned with SKF’s strategy to achieve a fully carbon neutral manufacturing footprint by 2030, by improving energy and material efficiency in the company’s worldwide operations whilst increasing the sourcing of self-generation of renewable energy.
The aim is to get to 100% renewable energy by 2030 or sooner is fully aligned with the RE100 ambition and approach. The company sees this as part its responsibility and is convinced that making this transition will create a long-term competitive advantage for SKF and its customers. Since 2015, SKF has decreased its manufacturing carbon footprint by 36% and is already operating two carbon neutral factories.
The 2030 target will cover SKF’s own manufacturing operations, i.e. SKF’s scope 1 and 2 emissions. It will be achieved by a combination of process improvements, energy efficient machinery, and procurement and generation of renewable energy. As a last resort, SKF may also purchase high quality carbon offsets.
SKF offers a number of solutions and products that contribute to the circular economy, such as the AI-driven Rotating Equipment Performance aimed at reducing waste by making assets run as long and as efficiently as possible. SKF also offers remanufacturing of bearings, which reduces emissions in the production phase by up to 90% compared with a new bearing. And finally, the RecondOil’s innovative oil regeneration system enables circular use of oil, reducing waste and improving environmental performance.