Stena Recycling takes the next step to reduce climate impact by committing to the Science Based Targets initiative. By committing to set science-based targets, all Stena Recycling companies set out to reduce their climate footprint in line with the ambitions of the Paris Climate Agreement.
Stena Recycling Sweden joined the Science Based Targets initiative in January 2021. All Stena Recycling companies, present on eight markets, now commit to the initiative. Stena Recycling Sweden will maintain its company level target, while also participating in the targets set for all Stena Recycling companies.
“It is a natural step for us to have all companies of Stena Recycling joining the Science Based Targets initiative,” says Anna Sundell, Group Sustainability Manager. “We are already working together to deliver the best solutions within circularity to our customers. By joining the Science Based Targets initiative, we now also make a clear joint commitment to reduce our climate footprint.”
The level of ambition of the common target is to contribute to keep global warming below 1.5 degrees, in accordance with the Paris Agreement. Stena Recycling is also committing to setting a long-term net zero target in accordance with the Business Ambition for 1.5°C campaign, striving to become climate neutral by 2050 at the latest. Setting incisive climate goals is nothing new for the Stena Recycling companies as they have previously been working with energy efficiency and reduced climate impact on company level. By setting a common target, Stena Recycling will now scale up the process and draw further advantage from shared learnings and benefit of scale.
“Having all Stena Recycling companies working on a common platform will create valuable synergies that will lead to positive and important results for us, for our customers and for the environment. We are all facing the major challenge of limiting global warming. Joining this international initiative, that many of our customers work within, is a way for us to take responsibility for what we can do to run our businesses without carbon emissions,” says Kristofer Sundsgård, CEO of Stena Recycling Group.
The next step is to develop a more detailed plan for the targets and have them approved by the Science Based Targets initiative. The first part of the process will be to conduct a thorough inventory of all greenhouse gas emissions in the value chain. The aim is to submit the targets for validation to the Science Based Targets initiative in spring 2023.
The Science Based Targets initiative (SBTi) is a global organization that aims to help and support companies set climate goals. These goals must be relevant and contribute to limiting global warming to 1.5 degrees, compared to pre-industrial levels, according to current scientific opinion. Joining the SBTi provides opportunities to support, engage and share best working practices concerning climate impact. An important aim of the initiative is to publicize the work done within its affiliated companies and inspire others to pursue similar efforts. The SBTi is a globally known initiative, which several large Swedish companies are already affiliated to. www.sciencebasedtargets.org
Stena Recycling plays an important and central role in the transition to a circular economy by offering services and comprehensive solutions within recycling and efficient resource management. With almost 3000 committed employees and 166 facilities across eight markets, Stena Recycling annually recycles nearly six million tons of waste and end-of-life products from more than 100,000 customers across a range of industries. The recycled raw materials, including ferrous and non-ferrous metals, plastic, and paper, are resold as feedstock for the manufacture of new products. Stena Recycling operates in Sweden, Denmark, Norway, Finland, Poland, Italy, and Germany and the USA. Stena Recycling is part of the Stena Metall Group. www.stenarecycling.com
For more information, please contact:
Anna Sundell, Group Sustainability Manager, Stena Metall
Phone: +46 (0)10-4451934