Höganäs receives SBTi approval

Höganäs says that its emissions reduction targets have received approval from the Science Based Targets initiative (SBTi), a global project focused on reducing climate change.

The initiative has reportedly validated Höganäs’ net zero targets, and will monitor the company’s progress towards its carbon neutral targets on a yearly basis.

Höganäs AB says that it is the first company in the powder metal industry to have received this validation.

The company plans to reduce its direct and indirect greenhouse gas emissions by 51% from 2018 levels and to reduce emissions from purchased goods and services, upstream transportation and distribution, and business travel by 30% within the same timeframe. To achieve this, Höganäs wants to transition to the use of fossil free energy in production and transport, replace fossil process coals, and “rethink” its material supplies.

“Höganäs’ ambition is to be the preferred supplier of sustainable metal powder and we want to take the lead and transform the industry towards a more sustainable future,” said Magnus Eriksson, interim CEO.