Lindab commits to Science Based Targets to contribute to reduced emissions of greenhouse gases
The Science Based Targets initiative is an international framework for science-based climate targets in line with the Paris Agreement's goal of limiting global warming to 1.5°C. With a commitment to Science Based Targets, Lindab sets even more precise goals for its long-term work to reduce the company's and its suppliers’ greenhouse gas emissions.
"Committing to Science Based Targets shows that we view sustainability as business critical. The Science Based Targets initiative is considered the most ambitious form of climate action a company can undertake, and setting third-party verified targets in line with the Paris Agreement will become an obvious customer requirement," says Ola Ringdahl, President and CEO of Lindab. "Emissions from the production of steel account for an absolute majority of Lindab's total emissions, and we therefore have a close collaboration with steel manufacturers to support the development of fossil-free steel. The fact that we are signing this initiative today shows that we will push even further to enable the steelmakers to fulfil their ambitious plans.”
The next step in the process is that Lindab will submit targets, including a long-term net-zero target, supported by data from its operations and value chain to the organisation behind Science Based Targets for external verification.
Science Based Targets (SBT) is a collaboration between CDP Disclosure Insight Action, the World Resources Institute, WWF and the UN's Global Compact. In addition to SBT evaluating and approving companies' goals, the initiative also wants to raise awareness about companies taking responsibility for limiting the effects of global warming. Today, more than 4,000 companies are registered by SBT.
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Lindab in brief
Lindab is a leading ventilation company in Europe. Lindab develops, manufactures, markets and distributes products and systems for energy-efficient ventilation and a healthy indoor climate. The products are characterised by high quality, ease of installation and environmental thinking.
The Group had sales of SEK 9,648 m in 2021 and is established in 20 countries with approximately 5,000 employees. The Nordic region accounted for 55 percent of sales in 2021, Western Europe for 29 percent, Central Europe for 14 percent and Other markets for 2 percent.
The share is listed on the Nasdaq Stockholm, Large Cap, under the ticker symbol LIAB.