Sweden’s Höganäs AB has released its Sustainability Report for 2023, highlighting the progress made by the company as well as ongoing challenges and achievements, particularly in addressing climate change.

During the 28th annual United Nations climate meeting (COP28), which took place in Dubai towards the end of 2023, countries reaffirmed their commitments to the Paris Agreement and, for the first time, agreed to ‘transition away from fossil fuels,’ emphasising the inevitable shift toward net-zero emissions in industry, technology and society. Höganäs’ strategy is aligned with this global direction.

“Our end customers in the automotive industry are setting ambitious scope 1, 2 and 3 emission targets and so are we,” stated Henrik Ager, Group President and CEO. “We aim to lead the industry in reducing the climate impact of metal components to further improve the competitiveness of Höganäs’ metal powders.”

Höganäs is reportedly working towards achieving net-zero in its own operations by 2030 and throughout its value chain by 2037. In line with this, several advancements have been made during the year.

“I am particularly proud that we have reduced our scope 1 and 2 carbon dioxide emissions by 46% since 2018. It is encouraging to see the positive effect of all mitigating activities done so far. In 2023, we also achieved our goal of purchasing only fossil fuel-free or renewable electricity for all our facilities around the world,” said Catharina Nordeman, Vice President Group Sustainability.

Höganäs believes that zero-emission products like electric vehicles, are compromised if they are made using materials from highly emitting processes.

“That is why we are developing new products for applications that support the climate transition, such as electrical vehicles, as well as following our climate roadmap that will take us to net-zero in our own operations by 2030 and in our value-chain by 2037,” stated Catharina Nordeman, Vice President Group Sustainability.

In the report, Höganäs highlighted that it is the first metal powder supplier to have its net-zero targets validated by the Science Based Targets Initiative and the it has seen a 46% decrease in total carbon dioxide emissions (scope 1 and 2) since 2018.

For the full Sustainability Report, click here.

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