SKF, a Swedish bearing and seal manufacturing company, has achieved a 40% reduction in CO2 emissions associated with steel bars and wire production over nine months through its partnership with Swiss Steel Group. Swiss Steel Group provides GreenSteel Climate+, a sustainable steel product made from recycled scrap steel and produced in electric arc furnaces using renewable green electricity. This effort aligns with SKF’s target to decarbonise operations by 2030 and achieve net-zero emissions across its supply chain by 2050.
“SKF is committed to decarbonising our operations and achieving net-zero emissions across our supply chain. The significant CO2 reduction achieved using GreenSteel Climate+ demonstrates our progress toward these goals. We aim to apply these lessons across our broader business operations,” said Magnus Rosen, Head of Sustainability at SKF.
Swiss Steel Group, a leading electric arc furnace steel producer in Europe, specialises in recycling and circular economy practices. Its GreenSteel Climate+ products result in up to 83% lower CO2 emissions compared to the industry average, significantly reducing Scope 2 emissions for SKF. The steel is utilised in SKF’s European plants and by its suppliers to manufacture components.
“This partnership with SKF marks a key milestone for Swiss Steel Group in supporting sustainable supply chains. Our focus on recycling and renewable energy enables us to produce steel with a substantially reduced carbon footprint,” said Frank Koch, CEO of Swiss Steel Group.
SKF is on track to meet its decarbonisation targets, having achieved an 18% year-on-year reduction in Scope 1 and 2 emissions in 2023. The collaboration with Swiss Steel Group further reinforces SKF’s commitment to sustainable manufacturing and its leadership in advancing the circular economy.
