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News & Insights
2023-08-24
13:07
Stena Recycling’s climate targets approved by the Science Based Targets initiative
As one of the first European companies in the recycling and waste management sector, Stena Recycling has received approval from the Science Based targets initiative on its greenhouse gas reduction targets.
The Stena Recycling Group, encompassing Stena Recycling’s operations in eight markets, committed to the Science Based Targets initiative in April 2022. The climate targets set by Stena Recycling have now been validated and approved by the Science Based Targets initiative.
Stena Recycling’s commitment is to reduce greenhouse gas emissions (GHG) from own operations (Scope 1 & 2) with 50% by 2030 from a 2021 base year, and to reduce absolute scope 3 GHG emissions from purchased goods and services, upstream transportation, and downstream transportation by 25% within the same timeframe. In addition to the 2030 target, Stena Recycling has also submitted a commitment to set net-zero targets for 2050, which yet remains to be validated.
“Together with our customers we are already contributing to reducing climate impact, by turning their waste into new resources through our advanced recycling technologies. But we are also determined to reduce our own climate footprint in Stena Recycling. The approved science-based targets support us in continuously developing the best services within recycling and circular solutions, while also ensuring that we will do so with a low climate impact throughout our operations and value chain”, says Kristofer Sundsgård, CEO of Stena Recycling Group.
The work is currently ongoing to set the roadmap and action plan to achieve the targets. Stena Recycling will focus on reducing emissions from own working machines and trucks through electrification and the use of biofuels, transitioning to fossil-free electricity throughout operations, as well as reviewing the logistics chain and collaborating with transport suppliers to find more carbon efficient solutions.
Driving the circular economy forward
“Securing validation of our science-based target is an important recognition of our sustainability ambitions”, says Anna Sundell, Head of Sustainability & Communications. We are very proud of our role in driving the circular economy forward, which reduces the need for climate intensive extraction of virgin resources. Equally important for us is that we are not only sustainable in what we do, but also in how we do it, which includes accelerating our journey towards carbon-efficient operations.
Facts:
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.
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