SKF partners with WWF in launch of new climate strategy

Tom Johnstone, SKF President and CEO, says: "With our new climate strategy, we intend to be a leader in our sector to reduce emissions from both our own operations, but also to lead the way in helping our suppliers and customers reduce their emissions. We are very proud to join with WWF as the first industrial engineering company to be accepted into the Climate Savers Program and look forward to continue using our engineering knowledge to make the world a cleaner place for us all."

SKF and WWF agree that there is a substantial role for the business community to play as a driving force behind the transition to a low-carbon economy and intend to work together in the Climate Savers Program to reduce SKF's emissions of GHGs, with particular focus on carbon dioxide (CO2).

Hkan Wirt©n, Secretary General of WWF Sweden says: "SKF is in a unique position as an industrial engineering company to influence the emissions of many companies within a range of segments. They show their level of commitment through their targets, which go beyond the direct emissions of the company itself and also drive positive change across their entire supply chain. We are particularly encouraged by the way in which SKF is willing to take the lead on quantifying and communicating environmental benefits enabled by their products and solutions."

SKF's updated climate strategy includes the following targets:

• Reduce the total annual energy use of the SKF Group by 5 per cent below the 2006 level by 2016
• Reduce the energy use per production output by 5 per cent year-on-year during the period (2012-2016)
• Require that 100 per cent of our energy intensive suppliers are certified according to the new Energy Management Standard ISO 50001 by the end of 2016
• Reduce CO2 emissions/tonne-km for all transport managed by SKF Logistics Services by 30 per cent below 2011 level by 2016
• Increase the revenue from the BeyondZero portfolio from SEK 2.5 billion in 2011 to SEK 10 billion in 2016

The WWF Climate Savers program works with companies to cut CO2 emissions. The partnerships between WWF and corporations aim at delivering real, measurable and additional reductions in CO2 emissions. The targets set must be demonstrably more ambitious than previous targets communicated by the company, and should place the company ahead of its competitors in terms of reducing greenhouse gases. Outside experts monitor and verify compliance with these agreements.

For further information about SKF's climate strategy and BeyondZero portfolio, email [email protected], or visit the website at www.skf.co.uk.