Ovako Reports 59% CO₂ Reduction Since 2015
Special steel producer Ovako's FY2025 Sustainability Report shows a 59% decrease in Scope 1 and 2 CO₂e emissions since 2015. The company aims for net-zero emissions by 2045.
Special steel producer Ovako has released its Sustainability Report for FY2025, detailing significant reductions in carbon emissions and improvements in workplace safety. The report confirms Ovako's progress toward its net-zero emission goals by 2045.
An audit included in the report indicates that Ovako's steel products contain 97% recycled content. Furthermore, Scope 1 and 2 CO₂e emissions have been reduced by 59% since 2015, with current emissions at 0.35 tCO₂e per tonne of hot-rolled steel. This substantial reduction highlights the company's commitment to decarbonization.
Ovako also reported a significant improvement in safety performance. The Lost Time Injury Frequency Rate (LTIFR) has decreased to 0.7, representing a 94% reduction from 2015 levels. This performance sets a high standard for safety within the industry.
The company's strategy emphasizes the increased use of recycled materials and process optimization to achieve its sustainability targets. The report serves as an update on Ovako's ongoing transition towards more sustainable steel production.