Sustainable solutions creating value

Sandvik made good progress on our sustainability goals. We reduced our carbon emissions by 16.4 percent and committed to the Science Based Targets initiative and to net-zero emissions by 2050 at the latest. Our main contribution to sustainability is through our solutions and we launched several new products that will make our customers more sustainable.

Our Sustainability Goals 2030 take a holistic approach that includes customers, suppliers and our own operations in its scope.

We launched several new battery-electric mining vehicles (BEVs), for example Sandvik® TH550B, a truck including a system that simplifies the battery swapping process. BEVs reduce emissions, noise and heat in the mines. We also introduced a method to tag cemented carbide inserts with Data Matrix codes (similar to QR codes ). It enables storing of detailed product information which can make the recycling of tools more efficient and precise. We also contribute to improved quality of life with, for example, our ultra-fine medical wire for devices such as pacemakers and hearing implants.

Five enablers to help us reach our Goals

1. Performance Management

We integrated sustainability targets in our performance management systems in 2021.

2. Good Governance

Our Code of Conduct and The Sandvik Way governance framework support well-functioning and efficient governance. The Code of Conduct was updated in 2021 to align with the revised strategy. 97 percent of employees have completed Code of Conduct training.

3. Transparency

We drive change through transparency of our progress, learnings and ways of working. In 2021, we updated our waste goal for improved transparency.

4. Shift Champions

Each year we award the best sustainability innovations within the company with the Sandvik Sustainability Award in Memory of Sigrid Göransson. In 2021, the prize was awarded to Sandvik Rock Processing Solutions for their circularity program for crushing chambers.

5. Ideas Hub

We encourage individuals to present sustainability ideas or innovations through an IT platform. Three pilot projects were finalized in 2021 and the concept is being rolled out in the organization.